Point of Sale
Point of Sale (POS) is the application software where your customers make payments for goods or services offered by your business. POS transactions can occur directly or online, and receipts are printed or generated electronically. POS software is becoming increasingly popular among store owners all over the world.
Hardware Components of a POS System
These are the common physical components required to get your POS up and running.
Monitor/ Tablet: Displays the product database and enables other functions, such as employee clock-in and viewing sales reports. Tablets, especially iPads are popular for replacing bulkier monitors.
Barcode Scanner: Automates the checkout process. Scanning barcodes pull product info and add it to the checkout total. Barcode scanners can also integrate with inventory management systems to automatically adjust stock levels.
Credit Card Reader: Since the EMV payment standard went live in 2015, secure and EMV-compliant credit card readers are a must-have. Non-compliant retailers face potentially huge losses on account of fraud liability.
Cash Drawer: It may fade away in years to come, but cash is still king. Until then, you’ll need a secure place to store cash for transactions. Another benefit of cash: there are no associated credit card fees.
POS Printer: Email and text receipts may be gaining popularity, but paper receipts remain essential for providing customers with a quick snapshot of their purchase or returns.
Features of POS System Software
|User Access||3 person||5 person|
|Bill Payable Report|
|Bill Receivable Report|
|Trial Balance Report|
|Balance Sheet Report|
|Income Statement Report|
|Bank book Report|