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Many restaurants are moving away from traditional merchant card processing services and turning to Square to process their credit card transactions. While traditional credit card processors charge multiple fees for the privilege of accepting credit card payments, Square charges one flat rate per transaction. A flat rate means you know exactly how much you’re spending to process credit card payments, and can boost sales without taking a financial hit. The key is knowing how to use a Square POS system to maximize revenue. Learn more about how to use a POS system in a restaurant.
🔓 Unlock the secrets to restaurant success with actionable strategies for optimizing operations, maximizing profits, and building a loyal customer base.
Download ResourceSquare charges three fixed rates for various types of transactions. These include:
Unlike other vendors, Square does not charge monthly fees or demand a mandatory minimum of transactions. This keeps the guesswork out of what your monthly fees for credit card processing will be.
1. Sign Up To get started, create an account with Square. You’ll be asked some standard questions about your restaurant:
Square will also ask you to verify your identity by providing your date of birth and the last four digits of your social security number. Once Square has all of the relevant information, they will require a business bank account number to issue payments. Square deposits credit and debit payments within 1-2 business days.
With Square, you have the choice between a free Magstripe reader or a $29 Square reader that allows for contactless payments (e.g. Apple Pay) and EMV chip cards. Since credit card companies penalize businesses for fraudulent charges due to not having a chip reader, it is best to pay the $29 (your customers will love being able to pay with their phones, too).
Before you can process payments, you will need to download the Square POS app to a phone or tablet. Once downloaded, you can configure the following settings:
Once you’ve configured the app and given it permission to access your restaurant’s device, you’re ready to process payments. Running a card is as simple as entering in the transaction amount, clicking the charge button, and selecting the appropriate payment option. If necessary, Square will compute tip amounts as well. Next, select the type of receipt the customer wants: text, email, or none.
Manually entering every sale can become tedious over time. This is why Square lets you input inventory items and keeps track of inventory and adjusts when an item is purchased. If you have only 10 cakes in your inventory system, Square will keep track of how many are left so that you don’t oversell. Square also provides analytics to allow you to generate reports for sales by employee, payment method, and item. You can request reports by the hour, day, week, month, or year for comparative analysis. Square POS System also synchronizes with numerous accounting platforms, including QuickBooks Online, Zoho Books, Xero, Kashoo Accounting, OneUp, TaxJar, and more. Small or new restaurants need simple solutions for processing their credit card payments. Square is an easy-to-use application that can also help keep track of inventory. MarketMan’sinventory management system is the perfect complement to Square’s POS. MarketMan’s turnkey Square integration can help you streamline food costs and optimize your ordering process.
Elevate your restaurant's efficiency with MarketMan's advanced inventory management software. Automate inventory processes, control food costs, and streamline back-of-house operations to focus on what truly matters—your guests. MarketMan empowers restaurateurs with insights to reduce waste and drive success. Book a demo today to discover the difference MarketMan can make for your business!
If you have any questions or need help, feel free to reach out
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Calculate ROIMany restaurants are moving away from traditional merchant card processing services and turning to Square to process their credit card transactions. While traditional credit card processors charge multiple fees for the privilege of accepting credit card payments, Square charges one flat rate per transaction. A flat rate means you know exactly how much you’re spending to process credit card payments, and can boost sales without taking a financial hit. The key is knowing how to use a Square POS system to maximize revenue. Learn more about how to use a POS system in a restaurant.
🔓 Unlock the secrets to restaurant success with actionable strategies for optimizing operations, maximizing profits, and building a loyal customer base.
Download ResourceSquare charges three fixed rates for various types of transactions. These include:
Unlike other vendors, Square does not charge monthly fees or demand a mandatory minimum of transactions. This keeps the guesswork out of what your monthly fees for credit card processing will be.
1. Sign Up To get started, create an account with Square. You’ll be asked some standard questions about your restaurant:
Square will also ask you to verify your identity by providing your date of birth and the last four digits of your social security number. Once Square has all of the relevant information, they will require a business bank account number to issue payments. Square deposits credit and debit payments within 1-2 business days.
With Square, you have the choice between a free Magstripe reader or a $29 Square reader that allows for contactless payments (e.g. Apple Pay) and EMV chip cards. Since credit card companies penalize businesses for fraudulent charges due to not having a chip reader, it is best to pay the $29 (your customers will love being able to pay with their phones, too).
Before you can process payments, you will need to download the Square POS app to a phone or tablet. Once downloaded, you can configure the following settings:
Once you’ve configured the app and given it permission to access your restaurant’s device, you’re ready to process payments. Running a card is as simple as entering in the transaction amount, clicking the charge button, and selecting the appropriate payment option. If necessary, Square will compute tip amounts as well. Next, select the type of receipt the customer wants: text, email, or none.
Manually entering every sale can become tedious over time. This is why Square lets you input inventory items and keeps track of inventory and adjusts when an item is purchased. If you have only 10 cakes in your inventory system, Square will keep track of how many are left so that you don’t oversell. Square also provides analytics to allow you to generate reports for sales by employee, payment method, and item. You can request reports by the hour, day, week, month, or year for comparative analysis. Square POS System also synchronizes with numerous accounting platforms, including QuickBooks Online, Zoho Books, Xero, Kashoo Accounting, OneUp, TaxJar, and more. Small or new restaurants need simple solutions for processing their credit card payments. Square is an easy-to-use application that can also help keep track of inventory. MarketMan’sinventory management system is the perfect complement to Square’s POS. MarketMan’s turnkey Square integration can help you streamline food costs and optimize your ordering process.
Elevate your restaurant's efficiency with MarketMan's advanced inventory management software. Automate inventory processes, control food costs, and streamline back-of-house operations to focus on what truly matters—your guests. MarketMan empowers restaurateurs with insights to reduce waste and drive success. Book a demo today to discover the difference MarketMan can make for your business!
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