Popular POS and Bookkeeping Software for Food Merchants

Do you own a food or restaurant business? If so, do you know which Point of Sale (POS) and bookkeeping software to use for your business? POS software is designed specifically for the needs of restaurants. There are many options on the market. This blog post will provide an overview of some popular ones.

The best way to manage your finances is through an accounting system that can be customised to meet your needs as a small-business owner—and this system should integrate seamlessly with any Point Of Sale (POS) software you're using in-house. QuickBooks Self-Employed has everything built right in, including tools that automatically categorise expenses from connected devices.

If you are a food merchant looking for the best POS and bookkeeping software, then this article is just for you. We have compiled a list of some of the most popular systems that will help your business stay organised all year long.  These programs are easy to use and offer great features like inventory tracking, sales reports, tax calculations, and more!  So what are you waiting for? Learn about these amazing systems today!

Do you have a restaurant or food-related business? If so, one of the most common questions you will get from your accountant is what POS and bookkeeping software do you use. With so many options out there, it can be tough to pick just one! In this blog post, we'll go through some popular choices in Australia.

Popular Point of Sale and Bookkeeping Programs for Food Retailers

Find the most effective point-of-sale (POS) and accounting software for your store or grocery. Credit card transactions and payment processing can be made more simpler for fees that are quite low or even nonexistent on a monthly basis.

Raise your hand if you aren't the type to monitor the company's sales. Raise your hand if you do keep track of sales, but you do it the old fashioned way, using paper and pen. Raise your hand if you complete your purchase using a straightforward cash register and a convenient calculator. If you have replied yes to any of these questions, it may be time to incorporate POS and bookkeeping software into your daily business handlings. Of course, I can't see if you have raised your hand at all, but if you have answered yes to any of these questions, it may be time to do so. Your grocery store, specialised food store, or small business can achieve new levels of success by utilising point-of-sale (POS) technology and electronic bookkeeping. However, how? And what exactly are point-of-sale systems and computerised bookkeeping?

Continue reading to learn more about point-of-sale systems and bookkeeping, including why these things are so vital and what software could be most suitable for your needs.

What exactly is POS?

The abbreviation "POS" refers to the "point of sale." The moment and location at which a transaction takes place is referred to as the point of sale. This takes place most frequently at the cash register during the checkout process. The manner in which a transaction is carried out, such as whether a customer pays with cash, a credit card, a debit card, smart pay, or a digital currency such as bitcoin, is determined at the point of sale, which is also the name of the location where the transaction takes place.

Electronic or cloud-based point-of-sale systems are available in the form of software applications that are compatible with a wide variety of tablets, apps, web sites, and operating systems. Because it is specialised software, it can be moved around easily, it can be automated, and it can last for a long time.

How Well-Known Is POS Software?

The global market for point of sale technology is projected to expand at a compound annual growth rate of 9 percent between 2017 and 2021, according to a report published in 2017 by Technavio. According to the findings of the study, this increase can be attributed to the rising use of non-cash payment methods. Store owners are under increasing amounts of pressure to upgrade to highly secured software in order to protect consumer information and handle an expanding number of non-cash payment methods as credit and debit card use continues to rise.

In 2019, it is anticipated that point-of-sale (POS) systems will become even more important due to the continued rise in acceptance of alternative payment methods other than cash. Cash transactions are becoming increasingly rare among today's consumer population. In accordance with the findings of a survey that was conducted in 2017 by Total System Services Inc. (TSYS), the use of cash as a form of payment is gradually losing ground to other methods of payment.

Since 2013, the use of debit cards and credit cards has seen steady growth, to the point where in 2017, more than half of customers polled prefered to shop without using cash. The majority of point-of-sale software contains all of the main card processors; however, we will discuss this topic in more detail later.

What Advantages Does POS Technology Offer?

Payment processing, inventory management, time tracking, and pricing can all be consolidated into a single location with the help of point-of-sale (POS) technology. The fact that the OS software keeps a record of sales also enables store managers to maintain tabs on which things are selling well, at what times products are selling well, and how much of a certain product needs to be restocked. All of the information pertaining to your company's sales is saved on your computer or other device, and from there, you may also save the information in the cloud.

Just what exactly is "The Cloud"?

The "cloud" refers to an area of the internet that is free to use and is supported, backed up, and protected by enormous servers such as those run by Google and Firefox. If you are using a well-known service such as Google Drive, then you are able to access the information that is stored in the cloud as long as you have an active internet connection.

The point-of-sale software will also keep track of the prices of the products. Products are each given their own distinctive barcode, which, when scanned, will register as the current price of the product. There will be no more need to manually write out price tags and scribble out numbers whenever there is a change in prices or a sale. A more streamlined approach to price control will be of considerable advantage to food retailers, such as natural foods stores. Produce that would normally be difficult to label with a price sticker is able to have its own unique price programmed into a point-of-sale (POS) system.

Keeping track of inventory is made much easier by POS software. Barcodes are used to keep track of both the type of product and the quantity. Scanning the barcode of just one product, for instance, will allow you to keep track of how much has been ordered as well as how much has been delivered.

Because of this, placing an order for stock is both easier and more precise. Utilize the record of sales to keep track of what things are selling and what products are not selling so that you know what to stock up on. This will provide you with a better and more accurate understanding of what items you should continue to stock, what items you should order fewer of, and what items you should adjust to accommodate changing customer preferences. Managing inventory properly is a crucial component of running a productive and profitable small business.

What Is The Price of POS software?

There is typically a fee associated with point-of-sale (POS) systems, despite the availability of some free fundamental services. In addition to this, point-of-sale systems levy processing fees on credit cards, debit cards, and prepaid cards, in addition to charging monthly membership fees for their services. These costs differ depending on the type of software you decide to go with, typically based on how fundamental or advanced the programme is. Below you will find an overview of many software suppliers that we have provided, along with their pricing structures.

How Do I Begin Using POS Software?

Joining an online marketplace that handles some of the work on your behalf is a simple way to get started reaping the benefits of point-of-sale software services. For instance, Mercato is an online marketplace that gives food retailers the opportunity to sell their wares to a wider audience of online customers through the website's platform. Merchants receive ongoing advertising in addition to a product catalogue that has more than 100,000 images. Additionally, they offer secure card transactions as well as processing and automatic deposits. Participating in online marketplaces is essential and beneficial if you want to grow your business online and acquire POS management that is secure.

What Exactly Is Digital Bookkeeping?

The process of recording the financial history of a company is known as bookkeeping. This comprises totals for sales, income and expenses, together with taxes and payroll. It takes into consideration both the money earned and the money spent. Many owners of small businesses choose to maintain their books manually or seek the assistance of an accountant. On the other hand, computerised bookkeeping is becoming increasingly widespread due to the fact that it is accurate, productive, and convenient.

Electronic bookkeeping software, much like point-of-sale (POS) systems, enables business owners to store enormous volumes of data in a single location—typically in the cloud or on a portable device—at the same time. Because of these tools, you won't have to stress about misplacing vital documents or records ever again. These systems expedite the entire process of keeping books and records.

Most Effective Accounting Programmes For Restaurants

Accounting software is utilised by companies to keep tabs on their revenues and expenditures. It is used by restaurants to do a variety of tasks, including tracking inventory, creating invoices, calculating sales tax, pricing recipes and menus, and integrating with point of sale (POS) systems.

Over fifty-two percent of business owners surveyed for a study on restaurant management identified high operational and food costs as one of the most difficult difficulties they face. Accounting software can assist business owners and managers in determining where their money is going and where there may be opportunities for cost savings. In addition, the programme can maintain tabs on inventories and income, as well as accurately compute sales tax to help businesses avoid incurring penalties.

Following an in-depth analysis of a dozen of the most popular accounting software solutions for small businesses, we came up with a shortlist of four products that we believe are the most suitable for restaurants. The following are some of our top picks.

Restaurant365

Restaurant365 is a cloud-based software solution that was made available in 2012 and is tailored to meet the unique needs of restaurant operators. It provides a comprehensive platform that can cater to the requirements of restaurants of any size and every owner, from those with no prior bookkeeping knowledge to those with decades of experience.

Restaurant365 was our top pick for the finest accounting software for restaurants because of its extensive feature set, user-friendliness, and complete compatibility with a variety of other software packages. In addition to this, it is designed exclusively for the hospitality industry, meaning that it caters to the needs of restaurant proprietors and comes with features that are tailored to meet their needs.

Restaurant365 is a software package that combines bookkeeping with restaurant management functions such as invoicing, ordering, and staff scheduling. Restaurant365 is an accounting software programme. It does not provide payroll services but can be integrated with ADP, which is a company that provides payroll services. Additionally, it is simple to link with POS systems, financial institutions, and vendors, making it possible to perform automated banking reconciliation.

The following is a list of some of Restaurant365's features:

• Receivables accounts and computerised payables accounting systems
• Creating a budget and estimating future sales
• Invoice capture
• Collecting payments from franchisees and handling billings
• Make ordering and fulfilment more efficient
• Administration of recipes and catering
• Control of stocks and supplies
• The scheduling of workers
• Log book for the manager that stores information on sales as well as documents
• Integration of POS, bank, vendor, and payroll systems

Restaurant365's pricing is structured in tiers, with the lowest tier costing $249 per location per month and the highest tier costing $459 per site per month. The Core Operations Plan and the Core Accounting Plan each cost $249 a month, and its primary focus is either on the operational or accounting facets of the company, respectively.

Features such as accounting, scheduling, and inventory management are included in the Essential Plan, which has a monthly fee of $369 per site. The Professional Plan is the most expensive option, coming in at $459 per location each month and being the top-tier choice. It contains labour scheduling, inventory management, accounting tools, bespoke financial report generation, as well as analytics and labour data.

You may get in touch with Restaurant365 by live chat, email, or the phone if you want to find out which plan is going to be the most suitable for your requirements.

Square POS 

Square is a well-known brand in the realm of quick-service restaurants due to the fact that it provides specialised solutions for table service, counter service, bars and lounges, coffee shops, bakeries, and food trucks. [Case in point]

Top features:

• No monthly fees
• Per-item sales tracking
• 24/7 support

Management of the menu, the inventory, and the layout are all included in the fundamental software package for restaurants; however, other modules are also available (more on that below). The Square brand is well-known and is associated with user-friendliness, an abundance of functionality, and a competent customer care team.

The Square Point of Sale system provides restaurants with access to a wide variety of functions. It includes powerful tools for managing menus, including layouts that can be customised and item grouping that can assist make popular items available more quickly. In addition, bulk additions can assist you in rapidly modernising your menu by adding lots of new meals and new variations of existing items.

You have access to a wide variety of third-party connectors that can help you simplify the delivery and pickup processes. In addition, you may integrate third-party applications for keeping track of the time employees work and taking reservations from customers.

The remarkable order management platform that Square provides enables you to handle all of your orders from a single interface, irrespective of whether they are fulfilled by DoorDash, Postmates, or your own drivers.

In a similar vein, Square possesses an easy-to-use table management tool that enables users to click-and-drag tables in order to make room for additional customers or rearrange them in order to liberate more space. In addition to this, you are able to monitor every seat in your restaurant to determine which ones are the furthest along in the process of being turned over and which ones have just been occupied.

Additionally, Square's reports are very excellent. It provides high-level summaries as well as in-depth analyses of your sales broken down by category, item, or manner of payment. Additionally, you are able to track overall trends and view the number of things that were given away for free during shifts.

Epos Now

Although Epos Now's point-of-sale solution for restaurants isn't nearly as well-rounded as Square's offering, it's still a highly tempting choice that can be used effectively in larger eateries.

Top features:

• Numerous connections to external services and programmes
• Various staff members' permissions
• Powerful choices for the hardware

Because of its superb workforce management features, Epos Now would be an excellent choice for establishments that serve a greater number of customers. On the other hand, it is not a one-trick pony and can easily rival Square punch for punch in terms of the features it offers.

Epos Now is ideally suited for use in larger restaurants that employ a large number of people due to the thoughtful personnel management features that it offers.

For instance, you can give each member of your staff a unique access code and pin, which means that they will only be able to use the features of your POS system that you have given them permission to use. This enables you to keep newly installed servers away from critical operations such as report generation for the business until they have been properly educated and are ready. In addition, Epos Now provides full support for staff clock-in and clock-out functions, which enables you to ensure that everyone is punctual and that all of their time is accounted for. This enables you to pay your staff for the appropriate number of hours worked, which helps you maintain a positive working environment.

Epos Now also provides in-depth training sessions for its customers. You can provide your employees with unlimited software training sessions for a monthly fee of $35 per employee. Although this may appear to be expensive, the benefits to your company, including a decrease in errors and an increase in productivity, are virtually guaranteed. In addition, one-time training sessions can be held at a cost of $175 per person.

In addition to this, Epos Now possesses a comprehensive inventory and stock management capability. You are able to keep tabs on everything from complete dishes to specific items in your inventory thanks to this feature. You also have the ability to import things in bulk, which can come in very helpful when you are first getting started in business or when you have received a large shipment.

You may also divide your stock into several categories, which is essential if you want to ensure that you have sufficient strawberries not only for your cheesecake but also for your daiquiris. You can even divide your inventory into things that can be eaten in the restaurant and those that can be taken away.

Additionally, Epos Now has more than 80 interfaces with third-party services, which might help to simplify your life. For instance, in addition, Xero may be installed to handle your accounting; Appointedd can be used for handling reservations; and Nettl and Mailchimp can be used for ecommerce and email marketing, respectively. All of these applications are examples of additional add-ons.

Square

Small businesses might benefit greatly from using Square as a payment option. It is an application that can be accessed online and is designed to function smoothly on any tablet (iPad, iPhone, etc.) as well as on your personal computer. Square has a mobile app that can be downloaded to any phone or other device with relative ease. Small businesses who are looking to get started with software that is not pricey but is nonetheless sophisticated will find that Square is an excellent alternative.

• Price: there are no recurring charges and the download is free
• Processing costs are as follows: a fixed rate of 2.75 percent for card payments; 3.50 percent plus $0.15 for keyed payments (manually entering card information or payment over the phone); and 2.90 percent plus $0.30 for online payments
• All of the necessary hardware, including a stand, cash drawer, receipt printer, and iPad, may be located in this location
• Important features include free download, built-in e-commerce processing, flat rates for card costs, invoice payments, payroll management, and the opportunity to link third party applications such as electronic bookkeeping systems (read on for more on that)
• Free tutorial

Clover

A fantastic alternative for supermarkets as well as niche food retailers is Clover. The Clover mobile software can be used on any tablet or smartphone, is distributed in the form of a mobile application, and synchronises with the cloud. In addition, clover does not charge on an employee-by-employee basis, which means that the price of the software does not fluctuate regardless of the number of employees you have.

• Pricing is based on the specific programme that the customer chooses to purchase. The more money you pay, the more sophisticated the programme becomes. Plans are subject to change based on the hardware that you also want to purchase. The following is a range of monthly fees: $0 for Payment Plus, which offers simple card and internet payment but does not contain any further hardware; $9.95 per month for Register Lite, which includes a mobile iPad and mount; and $29.95 per month for Register/Classic, which includes a full computer station. Clover Station plans also vary in price and can range anywhere from $90-$1200, but they offer a convenient one-stop shop option for purchasing both software and hardware together.
• Fees for processing are 2.6% plus 10 cents for each card transaction.
• Depending on the plans that you select, the necessary hardware may or may not be included in the purchase price. Check out their web store if you haven't already.
• Features such as flat rates for card processing, inventory management, customer loyalty programme integrations, staff management, and many others are considered to be important.
• Free tutorial