Square for Restaurants Gets a Boost from Plate IQ

Plate IQ has cozied up with Square, announcing on Tuesday (May 15) an integration with the new Square for Restaurants service. The goal is to make it easier for restaurant employees to handle payment information in full-service eateries.

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.

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.

“As every operator knows, too many processes in the restaurant industry still rely on paper, pencil and manual data entry. In addition to creating room for error, these outdated practices place burden on already busy managers,” said Bhavuk Kaul, co-founder and CEO of Plate IQ.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.”

Plate IQ said its software Daily Sales integrates with existing accounting software including QuickBooks Online, Sage Intacct and Xero accounting software. More integrations with third-party accounting software will come “soon,” Plate IQ said.

Square for Restaurants, a fully integrated point-of-sale platform for full-service restaurants, was introduced by the payment services company earlier this month. Cloud-based and able to be customized, Square for Restaurants enables managers to update menus and floor layouts from multiple terminals, and manage other front- and back-of-the house tasks.