POS Reports Your Restaurant Should Focus On
There is no denying one fact: modern point of sale (POS) systems are designed to help restaurants flourish in the industry. With interesting features like inventory management, accounting systems, sales and more, it is no wonder that such POS systems are considered miracles.
However, there is still one POS feature capable of making or breaking a business – but is not appreciated enough: POS reports.
Reports generated by POS systems are powerful tools you can use to better map your restaurant’s success – but which reports should you keep an eye on?
We’ve broken it down for you:
These are reports that reflect the number of sales, value of sales, and other basic statistics revolving around sales. It is the most fundamental way you can measure your restaurant’s profitability, and is hence an important report to focus on. It helps put your business in perspective in front of your eyes, in the form of organized data, graphs or pie charts.
Since most POS systems offer this functionality, it is up to the restaurant owner on what kind of sales reports to look into. Newbies are recommended to check daily sales reports, since the onset of opening a restaurant can be the most unstable time period. In contrast, more experienced owners can make do with weekly or monthly sales reports.
Product Mix And Menu Reports
A restaurant is as successful as its food. So after launching your new place, you need to measure your food’s success through product mix and menu reports. This helps you track menu sales, and directly analyse the success rates of your menu. Instead of depending entirely on your chef’s’ word of mouth, you’ll have a better idea of how well your good is selling. By looking for menu reports by time, season and item, you’ll know what is it that your customers enjoy having, and what isn’t that popular.
No matter what kind of business you own, one fact is certain: taxes are a massive headache. When you’re already so preoccupied with running your restaurant, managing taxes and accounts can be even more difficult.
Thankfully, modern POS systems have an accounting software integrated within, and give accurate accounting reports. Such reports can track assets, liabilities, revenue, expenses, taxes and more. Not only does this eliminate all the time wasted on manually logging in data and calculating balance sheets, but also removes the chances of error; since they’re automated, you can be sure that your calculations are almost always correct.
Your restaurant is as productive as your staff. In order to know how well your staff is doing, you’ll need a lot more than just words of mouth.
Employee reports help you measure the productivity of your staff. You can analyse the sales made by a specific waiting staff member, individual working hours, number of orders fulfilled by a kitchen staff member, and more. This way, you’ll have a better idea of which employee to promote, which employee to fire, and which employee to focus more time and energy on.
There are many POS systems in the market, but you’ll want one that has all the above mentioned POS reports and much more. Oscar POS is one POS software in Pakistan that has a state-of-the-art Reporting & Analytics System. It’s got accurate reports made from both real-time and earlier data, helping you stay on top of your business all the time.
In the end, POS System is meant to improve your restaurant. So, you should be willing to take advantage of all the great features you’ll be getting.