A Point-of-Sale System for Your Food Truck Business - dummies

A Point-of-Sale System for Your Food Truck Business

By Richard Myrick

A point-of-sale (POS) system is a computerized system that allows you to electronically track your food truck sales, cash flow, and food inventory and can help simplify your bookkeeping process. (This system is a separate set of electronic hardware from your computer system.) A POS system can be a valuable addition to your food truck business because many of these systems process debit and credit cards.

One benefit of using a POS system is that it can track everything from food usage to your most popular menu items. Because the POS system acts as a time clock, it can also work with your payroll system, saving you a lot of time and money in bookkeeping.

Along with facilitating the daily operations of running your food truck, POS systems can organize your profit-and-loss statement and can track your sales tax from each city you operate in. With this information, you’ll be able to track the performance of your business operations.

The biggest drawback to a POS system is that it’s a computer. If the system crashes and you haven’t backed up your data, you risk losing all of it, and this information is something the IRS may want to examine if you’re audited. Also, a POS system doesn’t have the same life span as the old cash register. You’ll eventually need to replace parts and update its software.

Due to the size of the food industry, there are numerous distributers of POS systems; a few reputable ones include Hewlett Packard and Dell. Be sure to study the differences between the models and options. Not all systems are created equal.

Some food truck sales groups, such as Mobi Munch, provide a POS system along with technical support to assist you if any problems surface when you purchase a vehicle from them. You can also speak with fellow food truck owners in your area to get recommendations on systems they’ve had success with.

If your food truck business will start off as a small operation, you may not need a POS system when you open, especially if you aren’t going to take credit cards.