Application Programming Interface (API)
An Application Programming Interface (API) is a powerful tool that allows two different software platforms to communicate and share data. In the hospitality industry, APIs are used to bridge gaps between point-of-sale systems and other software programs such as inventory management solutions, online ordering platforms, accounting tools, etc., allowing operators to increase operational efficiency and […]
Actual inventory
Actual inventory is a count of the real stock held by a business. This number can differ from that recorded in the company’s inventory records, as it does not take into account variables such as theft, incorrect or missing receipts and inaccurate item registration. By performing an actual inventory count, businesses are able to gain […]
Actual food cost
Actual food cost is a more comprehensive measure of an establishment’s food expenses. It takes into account both the cost of ingredients as well as additional costs such as spoilage, waste, and theft. Additionally, restaurant owners must factor in accounting discrepancies or errors when tallying up actual food costs. This metric provides insight into a […]
