MICROS Glossary of Hospitality Industry Terminology
| Term | Definition |
| Validation Chit | A receipt or voucher that prints at the local printer only. Some, but certainly not all, of the typical uses for validation chits include Returns, Bank Loans/Pick-ups, Employee Meals, Clock-In/Out receipts, and Tips Paid. |
| Value Added Retailer | A company which sells something (e.g. computers) made by another company (an OEM) with extra components added (e.g. specialist software). |
| Value Added Tax (VAT) | An inclusive tax used in several European Countries. |
| Variable Length File | A file in a database whose length is not preset, and is instead determined by the amount of information it contains. |
| VAT | See - Value Added Tax. |
| VDU | See - Video Display Unit. |
| Video Display Unit (VDU) | A device that displays orders on a screen, instead of paper. The VDU can be programmed to display orders, menu items, discounts, service charges, and tender/media types in different configurations. |
| Virtual File Allocation Table (VFAT) | A standard, developed by Microsoft, to enable long file names on standard FAT partitions. Also see – File Allocation Table. |
| Void Item | A method of correcting an error made during a sales transaction and is usually used only to remove items from a guest’s check that have been ordered, but not yet prepared; used to correct errors. Voiding also removes any posted tracking totals for that particular menu item, and reverses depletion from inventory. |
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