The POS is the physical location where sales activities are recorded. With Veloce, the term "POS software" is used to refer to the software that is installed on the touchscreen workstation which provides the user interface used by restaurant employees to order items, record sales data, print guest checks and record payments. The POS software is generally installed on a workstation equipped with a touchscreen or an electronic tablet.
The computer where the Veloce Back-Office software is installed in generally referred to as the server. In the hospitality industry, the word "server" may also refer to employees serving food, so it is important to mind the context where the word is used.
This term litterally means "the office in the back", when referring to a restaurant or any other type of commerce. With Veloce, this term refers to the software that is installed on the Server, which would typically be located in the manager's office and used to manage the entire POS system in the environment in which it is installed. Of course, the Back-Office software can now be installed on almost any device part of the POS system, but that term carried along to designate the component used to manage the whole system.
The End of Day is a process by which all daily sales operations are reconciled and compiled in order to make the resulting data presentable in daily, weekly, monthly, periodic and yearly reports. With Veloce, if an End of Day is accidentally skipped, reports are not affected. Transactions will follow the calendar date on which they were carried out once the End of Day is performed.
A fiscal year refers to the 12 month period which corresponds to the commerce's business activities for accounting and fiscal purposes. The fiscal year of a business does not necessarily correspond to a legal calendar year, and may straddle across two calendar years.
A fiscal day refers to the business that is recorded under a given day for accounting purposes, even if said business actually took place on a different legal day. This is common in bars closing in early morning hours, where business occurring after midnight is typically recorded under the previous day.
Also known as the Legal Date, The calendar date is the actual date according to the Gregorian calendar. A legal year starts on January 1st and ends on December 31st. With Veloce, the calendar date is determined by the server, which is itself based on the operating system (Windows) settings.
Legally, the date change occurs at midnight every night. However, for fiscal and accounting purposes, this may need to be changed. For instance, bars closing in early morning hours may want to record sales occurring after midnight under the previous fiscal day, so that reports make more sense and are easier to understand. For this reason, they would want to change their date change time to something like 05:00 AM for instance.
Another term for Point of Sale. Sometimes, the terms "POS" and "Workstation" are combined as "POS Workstation" do designate the array of hardware and peripherals used to record sales activity at a given point of sale.
An older term that describes a device used to record sales activities and register payments. Sometimes used in the industry to refer to a point of sale. The terms "Cash" or "Register" are also sometimes used separately and have the same meaning in this context.
Same as Cash Register, but more commonly heard in the UK or Australia. Seldom used in North America.