Retail Point of Sale POS Software Systems

What is Point- of -Sale often referred to as POS System? After reading this post, you will know more about Point of Sale Software Systems and how to use it for Retail Accounting and improved efficiency in your retail business.

The goal of every start up Business to medium size through to large organisations is to grow. Among the best tips of choosing a better Business Software is to ensure that you choose an Accounting Software that will sustain and support continued growth to the extent that your Small Business growth is not hampered by the limitation of your Accounting or Bookkeeping System.

Retail Point- of- Sale is the Software system used in most groceries supermarkets and multinational consumer stores. The system integrates Retail Inventory management as well as receivables modules using the Inventory Barcode Technology. Retail Point- of -Sale Software comes as a core module in some brands of Software Programs while in others as add on Module meaning that it can be integrated or added to the existing system at a later stage. But note that this is only possible if the system accounting software you are using is designed to integrate add on modules.
In very simple terms, this is how a retail point-of-sale system works.

1. First install your POS Software or if it is an add on module; integrate it into the existing Accounting software by installing the update from your Vendor by following the instructions provided.

2. Buy and install peripheral devices like Point of sale Cash Registers with the provision for hand held point of sale barcode scanners or fixed barcode scanners and others like cash drawers and slip printers.

3. If you already have a list of inventory items on your Accounting System, then you simply need to link the individual Inventory items to the Inventory barcodes on the products by entering the digits in your computer system once only. You may be asking; what is a Barcode? Well, I will not give the technical description of a bar code but the image below shows an example of a Barcode.

For illustration purposes I will use a screen shot from Pastel evolution Accounting Software to show how barcode information is linked to other product information such as price and description. Also note that the fields and information required to be entered may vary from one software to the other always refer to the instructions given by the vendor manual or seek consultation.

Once all inventory information is updated on the computer system and all peripherals are in working condition, then you or your cashier at the check out point-of-sale cash register can simply pass the product items on the barcode scanner and be able to make a sale, tender, print slip and accept payment easily either by cash or credit card without difficult.

The advantages of a Retail Point-of –Sale includes security, flexible pricing as it reduces pricing prices and improve efficiency in your Business. I do not know of any disadvantages yet but if you are using any POS Software System and you think there are disadvantages to using Point-of-Sale then leave your comment.

About the Author:

Fixed Asset Consultant at Prosperity Agencies Limited with over 10 years practical experience in physical verification, bar-coding of assets and fixed asset software implementation +260 211 239859

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