Monitor your Restaurant with advanced error free POS Software.
Category : Blog
“If you can’t measure it, you can’t manage it.” The axiom has become a staple catch-phrase for many businesses because, for the most part, it’s true. Without data, it’s difficult to understand what’s happening in your company. It becomes challenging to make effective decisions, and know if those choices made a difference. Enter your point of sale system. Your Restaurant POS Software should provide you with a range of reporting features that will help you make smarter, more informed business decisions.
Let’s take a look at some of the essential POS reports you’ll need to run a successful small business.
A reliable restaurant POS system should give you the ability to track sales metrics to help you better understand how sales are stacking up across your business.
Product Mix Reports
These reports show you sales by item, category, or department. Know what dishes or drinks are your top-selling items and what ones aren’t cutting the mustard.
Without stock, you have nothing to sell to customers.It is a good strategy for long-term success. Inventory reports will allow you to track your use of ingredients to better plan for future sales.
Labor and Employee Reports
Labor reports can show you several insights into how employees are performing and how much it costs you to keep them on board. Employees are one of your biggest assets, and that’s why it’s so important to keep tabs on this area of your operation.
X Reports and Z Reports
X’s and Z’s are a part of your day-to-day procedures. At the end of each shift, the server, bartender, or cashier will print a shift report or X report of their daily sales. While X reports give you shift details or current, real-time register information, a Z report is the end-of-day report that you’ll use for bookkeeping purposes.
Since your POS software is the backbone of your business, it’s critical that the software can generate accounting reports to pass on to your bookkeeper. When tax season comes around, having everything in one location will be a big time-saver.
Payment Reports and Gift Card Reporting
This report gives you insight into how much cash you should have on-hand and if anyone made a purchase with a gift card, so your liabilities reports are accurate. Also, the breakdown of credit card payments by card type will tell you how much money you can expect in your bank account from your merchant processor.
Of course, there are dozens of additional POS reports available that you could use to measure and manage your restaurant. However, it’s not the number of reports your point of sale system can produce, but rather the quality of those reports. Do they give you the information you need to run a successful business?