Square for Restaurants Gets Plate IQ Tool | PYMNTS.com - 0 views
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Plate IQ has cozied up with Square, announcing on Tuesday (May 15) an integration with the new Square for Restaurants service.
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The deal involves Plate IQ’s daily sales software, which enables restaurants to “automatically input guest payment data from Square for Restaurants into many existing accounting software platforms and create valuable summaries of daily transactions, alleviating the typical manual-entry demands placed on general managers,” according to a Plate IQ press release.
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The integration also will let restaurant workers “automatically attribute daily sales to the correct general ledger account for more accurate and detailed bookkeeping,” review revenue from various locations on a single screen and see real-time sales and purchasing data, allowing restaurant operators to estimate their cost of goods sold.
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In addition to creating room for error, these outdated practices place burden on already busy managers,” said Bhavuk Kaul, co-founder and CEO of Plate IQ. “Plate IQ’s integration with Square for Restaurants gives owners and operators access to last night’s sales accurately accounted for, automatically, by morning.”
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Plate IQ said its software Daily Sales integrates with existing accounting software including QuickBooks Online, Sage Intacct and Xero accounting software
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Plate IQ has formed a partnership with Square announcing an integration with Square's new Restaurant service. Plate IQ's daily dales software enables restaurants to "automatically input guest payment data from Square for Restaurants into many existing accounting software platforms and create valuable summaries of daily transactions." This integration has multiple benefits including more accurate, faster and detailed bookkeeping and more efficient cost of goods sold management. At my restaurant, we use a very similar software to this called Avero. Avero is integrated with our Aloha POS system and the information is automatically inputted every morning from the day before. As a General Manager, I find software like this necessary to day to day operations. It enables me to generate reports on product mixes, individual server sales, categorical sales and even enables me to monitor labor compared to my revenue.