Updated: Dec 5, 2022
COGS-Well has released a new product called POS+ .
POS+ imports financial totals (sales, payment, taxes, comps, discounts, and statistical totals) from your cloud-based POS system to provide detailed financial reporting.
POS totals are mapped to your chart of accounts for reporting balanced credit and debit entries, by account name/number, to be entered into your general ledger. After an audit, these entries can be made manually or be exported and posted automatically (for some accounting systems).
POS+ is used in combination with our COGS+ inventory and recipe management product. If you are using a cloud-based POS and already importing the product sales mix, then COGS-Well can add the collection of POS financial totals to your daily polling.
POS+ Financial Reporting
POS+ can report on the financial detail from your POS by Revenue Center and Financial Category. POS Financial totals sales, taxes, payments, comps, and discounts will be reported. Statistical totals for things like the number of guests, number of transactions or checks, or the number and value of online orders can be reported on as well.
POS+ General Ledger Posting
POS totals are mapped to your chart of accounts for reporting and posting balanced credit and debit entries to your general ledger. COGS-Well can also isolate and total transactions by daypart in the event you want to isolate breakfast, lunch, or dinner totals.
POS+ provides reporting for your accounting department to capture and audit the daily sales and statistical information you enter into your general ledger. You can make the entries manually using the reporting as a guide or we utilize an interface to the accounting system to post the adjustments automatically (please check to see if COGS-Well has developed an interface to your accounting system).
POS+ will function along side COGS+ inventory and recipe management system. If you have a cloud-based POS, COGS-Well polls POS financial totals, reports on these totals, isolates day parts, provides a General Ledger posting journal, and automatically posts adjustments directly to your accounting system (please check if an interface is available).
POS+ will improve your insight into your POS financial reporting and it will also save your accounting team time versus manually calculating journal entries.