POS integration is a streamlined connection between your POS software and your restaurant accounting and operations platform. With integration, your operations platform can pull detailed data directly from your POS in real time. The integrated platform automatically inputs daily sales and labor accrual data entries into the accounting general ledger (GL).
Integrated point of sales systems data goes beyond the cash drawer summary level offered by simple POS reports. Detailed POS data integrated with your restaurant operations and accounting drives useful insights in sales reporting, menu engineering, recipe costing, labor details, and enhanced business analytics and reporting.
Some platforms may offer adaptable POS customizations, but these can be costly and time-consuming. True POS integration creates complete compatibility, with POS as one part of an entire cloud-based accounting and operations platform.
Why POS integration is a vital part of restaurant accounting software
POS software seamlessly integrated with your accounting platform enables you to centralize key data collection about daily sales and labor. By eliminating manual POS data entry, GL input is streamlined and errors are reduced. Automatically pulling POS data and creating sales and labor journal entries not only ensures accurate data, but it also saves time for your employees, managers, or bookkeeping team.
In addition to the short-term efficiencies, POS integration can inform your business strategy over time through customized reporting and accessibility. When your accounting system pulls detailed data directly from your sales POS system, you can see a real-time representation of your financial situation. Anomalies in your numbers can be immediately addressed through data-driven decisions.
POS software integration drives data collection that can help you run your business. A fully integrated POS system enables insights within two main categories that can benefit your bottom line: financial and operational reporting.
What POS integration means for financial reporting
1. Daily sales summary
A POS-integrated platform creates transactions within your accounting software, labeling the “Daily Sales Summary” for each day and each restaurant location. A journal entry about revenue, tenders, and discounts is recorded from each sales ticket. This integration maps sales reporting and receipt details from your POS to your GL, creating a detailed road map for transactions. By automating this data transfer, data collection is streamlined and insights are accessible from one centralized dashboard.