What is a POS Software System?.

The letters stand for “point-of-sale” and at its very basic is your business cash register. It is used at offices or business locations where goods and services are sold to clients and customers. Leveraging internet technology, the program is not only used by physical retail outlets but more so by online stores using complex, advanced tools.

With a POS software solution, you are able to record all your customer sales transactions using your computer and store all your sales information in your device or on cloud. You can input into your computer the goods and services you are selling, their price, and the quantity sold. The software program calculates the total costs, including tax, and informs you if you need to give back some change to the customer. It records each sale you do and monitors everything else.

Since the software keeps tab of all sales you’ve made, it can then streamline other various tasks such as calculate the total sales for the day, the total sales tax made, or the number of times a particular item was sold during a certain period. The capabilities of POS software, therefore, go beyond being just a cash register. It can be a complete retail management system to automate and handle all the other aspects of your business.

What are common features of POS software?

Although you can purchase a platform with only basic POS functionality, many of today’s POS software are integrated tools designed to manage a variety of related tasks. Here are some of the common features:

  • Point of Sale
  • Accounts Receivable
  • Accounts Payable
  • Inventory Control
  • Shop Management
  • Automatic Purchase Order Creation
  • Customer Tracking and Follow Up
  • Automatic Price Updates
  • Payroll
  • Bar Code Scanning
  • General Ledger
  • EDI (Electronic Ordering)

Essentially, a POS software system can bring a lot of benefits to your business. You can realize significant returns, improve savings, enhance productivity, and get detailed information on sales condition and performance. All these translate to profitability, which is what a business is for.