Compeat - Reliable Accounting System
June 22, 2018
Compeat - Reliable Accounting System
Score 8 out of 10
Vetted Review
Verified User
Overall Satisfaction with Compeat
Compeat is used as our accounting system for the organization, in other words, it is being used for the whole organization. Compeat pulls everyday transactions from our POS system helps with cost control, inventory and labor control. In the sales/DSR side, the system works pretty well and reduces our daily control for the Sales, Taxes, Discounts and Paid Outs. In the account payable side, the Manager in each location upload the invoices and our account department process the payments using Compeat.
- It is a reliable accounting system, I like the fact that all transactions are recorded and not possible to change it after it is posted.
- Inventory is very useful and you can scan items to help with the counting.
- DSR are pulled automatically from our POS System
- Bank Reconciliation is pretty easily be done and the bank extract can be imported into the system, Compeat matches transaction automatically.
- Support I pretty good, but somehow very expense to be used, and sometimes the system " has" problems that you need to contact it.
- Inventory can be diff to manage if you do not have well-trained employees in the restaurant.
- They increased the price for new licenses if we open new locations this will be one of the problems we will have.
- We have Compeat for a long time, so the cost, in the beginning, was not as today, so for our business, the system helped in how we control the cost that is 25% to 30% of our expenses.
- The daily control of Paid Outs / Cash deposits helps us to identify fraud and reduce it.
- It is pretty easy to process vendor payments, that reduce the time from our Corporate employee processing checks.
For now, I can tell that Restaurant365 has a better platform and online access, but the Inventory side is what keeps us with Compeat. As is Compeat we can use the machine to scan our inventory and upload it automatically to the system. Unfortunately, Restaurant365 does not have this feature and that why we do not plan to change it for now.