Bewertungszentrale » You have to decide how much risk you are willing

The Importance Of EPOS Systems In Your Restaurant Business Computers Articles | March 12 Cheap Air Max 90 2020 , 2013
If you own a restaurant business, the chances are that you will, at some point or another, have installed a range of EPOS systems. Here's an introduction into what they can do.


An EPOS (electronic point of sale) is a computer-based system most restaurants use in doing daily transactions. Restaurants use EPOS systems as a tool in taking orders, data recording, ticketing Cheap Air Max 95 2020 , and billing. A restaurant staff, a bartender, and a cashier utilize the system to easily get and process orders from customers. Today, EPOS systems act as a replacement to the traditional cash registers and computers. It functions in multiple stations which include different terminals to process credit cards, print receipts, display menu Cheap Air Max 96 2020 , and cash server stations.? Having this kind of system in your restaurant adds convenience and comfort to your customers and staff. It offers accuracy and an effective time management in a busy environment.

EPOS systems offer multiple functions to your restaurant business. Through EPOS, you will be able to calculate cash more efficiently for each order and record the payment method directly thru a centralized system. This feature can greatly help you track the amount of cash and inventory of your business. Today, restaurant businesses use it as a tool in creating important business reports using the data provided by the system. An EPOS management system has the ability to create hourly, daily, weekly, and monthly sales reports. The system not only manages the accounting of the restaurant. Rather Cheap Air Max 97 2020 , you can also use it to monitor your employees. In fact, EPOS systems allow your employees to log in and out in an hourly basis which can be very useful for payroll purposes.

Another good advantage of EPOS is that it can be used by anyone involved in your restaurant. However, you should take note that EPOS system works differently as compared to other types of systems. The type of EPOS depends largely on your type of restaurant and the style of your restaurant?s service. Generally, an EPOS works as your employee enter his or her user ID to access the system, usually through a touch screen monitor. More advanced EPOS allows you to add biometrics to make the system more secured. Your employees process orders right through the system using terminals by entering the customers? order. After doing so, the orders are sent to the kitchen in a form of a ticket or through a display monitor. The system functions through terminals that are linked to each other either by a local server or the internet. The verification of orders may depend on the type system or your method of transaction. Advanced systems allow the customers to see their orders through a monitor displayed in front of them. Some also offer self-service screens to which they can manually take their orders by themselves without the need of a staff.

The specifications of your EPOS depend highly on the environment and style of your restaurant. Today Cheap Air Max 98 2020 , most restaurants prefer using touch screens because they are aesthetically more attractive and more efficient in taking orders, especially for quick service restaurants. In the case of full-service restaurants or fine dining, the systems are usually located in hidden places as not to mess up the ambiance of the place.?


There are cases when a home does not appraise for the contract price, especially when a bidding war results in high offers. Your real estate agent may have mentioned that the potential buyer is asking for a second trust. What does this mean?


Many lenders will not loan on more than 80% of the appraised price of a property. If the property appraises for less than the contract price, the borrower must often find a way to make up the gap.


For example, the contract sales price on a property is $300 Cheap Air Max Axis 2020 ,000. The purchaser is originally looking at a loan in the amount of $240,000, 80% of the purchase price. The appraisal only came in at $275,000. The lender will only lend 80% of the appraised value, or $220,000. The purchaser still wants to buy the property Cheap Air Max Classic BW 2020 , but is now $20,000 short of the contract price. He or she may ask you to take back a second trust in this amount.


The first trust puts a lender in top priority position. If the mortgage (also called deed of trust) is recordered among the land records, the property cannot be sold without the lender's permission and the lien paid in full. This is normal when you have a mortgage. If the borrower goes into bankruptcy or forfeits on the property, the lender will get the property. The first trust lender is secure in the property.


A second trust is basically asking you to finance the second trust, or the $20,000. You will hold the second deed of trust Cheap Air Max Deluxe 2020 , which means if the property is foreclosed on, you will be paid off after the first trust. For example, if the property only brings $220,000, that money will pay off the first trust holder -- leaving nothing to pay you off with. This is a higher risk. Second trust holders usually charge slightly higher interest rates.


Of course, you could always sue the person who owes you money Cheap Air Max DLX 2020 , but if they have none, your judgement will be pretty meaningless. The chances of collection are slim.


You have to decide how much risk you are willing to assume. Clearly, a second trust can help you in selling your home, and may be the only way to get more than the appraised value for the property. A second trust can make sense, if you have the proper protections in place in the form of legal documents for the second trust.