EPoS stands for Electronic Point Of Sale, a system that is used throughout the restaurant and retail industry. This computerised system allows business owners to track sales, cash flow, food inventory and can help simplify your bookkeeping enormously.
Why an EPoS is good for a restaurant
The high volume of cash and credit cards that pass through a restaurant each day make an EPoS system a necessity. Not only does an EPoS system track every penny of your sales, many EPoS programs also act as credit card processors. This makes processing credit cards more secure for both the customer and the business. Servers are accountable for all their sales, and it is impossible to alter checks in the computer unless you have the password. This helps cut down on employee theft.
The most obvious drawback to any EPoS system is that it is a computer, and subject to all the same technological whims. If it happens to crash and you don’t have a backup, then you risk losing all your data, not just sales, but profit and loss statements and payroll statements. Important stuff that the Inland Revenue may want to examine someday. So, always have a backup. Simply epos always recommend having back office software in addition to your hospitality software. Simply back up on a daily or weekly basis and avoid any issues with loss of data.
Remember all that money you saved on bookkeeping? You may end up spending it on your tech guy, to help set up the EPoS and perform any troubleshooting.
An EPoS system doesn’t have the same lifespan as a good old fashioned cash register. You will need to replace parts, update software and eventually need to replace it entirely with a new model. New EPoS systems come with limited warranties and tech support, but just like every other piece of equipment, the problems always seem to start after the warranty has run out.
For this problem, you can always buy extra tech support and extend the warranty period.
Where to Find EPoS
There are many EPoS distributors. Simply epos is just one of many but certainly a good place to start looking.
If you are planning a very small operation, such as bagel or sandwich shop, you may not need a standard EPoS system at the opening time, especially if you aren’t going to take credit cards (and there are plenty of places that still don’t accept plastic). However, if you have dreams of expanding or franchising, then you may want to figure in the purchase of an EPoS into your opening costs.
Simply epos do offer systems for the small business and its worth speaking to them to investigate further.
One benefit of an EPoS system is that it simplifies communications between the kitchen and the waiting staff. Orders go through the computer, directly to the kitchen printer. Another benefit of a restaurant EPoS program is that it can track everything from food usage to the most popular menu items. Because the EPoS system acts as a time clock, it can also help prepare payroll. This can save you a lot of money in your bookkeeping department. Along with the daily operations of running a restaurant, an EPoS system can organise profit and loss statements and VAT. It can even integrate with your accounting software which could reduce your accountancy costs.