POS Point of Sale
AVSDI Digital Point of Sale
A Point of Sale system is a computerized network operated by a main computer and linked to several checkout terminals
With a POS system you can analyze sales data, figure out how well all the items on your shelves sell, and adjust purchasing levels accordingly. You can maintain a sales history to help adjust your buying decisions for seasonal purchasing trends. You can improve pricing accuracy by integrating bar-code scanners and credit card authorization.
There are plenty of popular POS software systems that enable you to use add-on devices at your checkout stations, including electronic cash drawers, bar-code scanners, credit card readers, and receipt or invoice printers. POS packages frequently come with integrated accounting modules, including general ledger, accounts receivable, accounts payable, purchasing, and inventory control systems. A POS system is an all-in-one way to keep track of your business’s cash flow.
Before purchasing a POS system, consider the following:
– Ease of use. Look for software with a user-friendly graphical interface.
– Entry of sales information. Most systems allow you to enter inventory codes either manually or automatically via a bar-code scanner. Once the inventory code is entered, the system calls up the standard or sales price, computes the price at multiple quantities and provides a running total.
– Pricing. POS systems generally offer a variety of ways to keep track of pricing, including add-on amounts, percentage of cost, margin percentage and custom formulas. If you provide volume discounts, you can set up multiple prices for each item.
– Updating product information. Once a sale is entered, these systems automatically update inventory and accounts receivable records.
– Sales tracking options. Different businesses get paid in different ways. A repair shop often keeps invoices open until the work is completed, so they need a system that allows them to put sales on hold. Sellers of expensive goods, who allow installment purchases, needs a loan calculator that tabulates monthly payments. A POS system can even handle rentals as well.
– Security. In retail, it’s important to keep tight control over cash receipts to prevent theft. POS systems provide audit trails so you can trace any problems.
-Taxes. Many POS systems can support numerous tax rates, useful if you run a mail order business and need to deal with taxes for more than one state.
– Gain better control of your business through data anayltics. You can slice and dice sales data in a variety of ways to determine what products are selling best at what time. You can use the collected data from a POS system to figure out everything from the optimal ways to arrange shelves and displays to what promotions are working best and when to change seasonal promotions.
– Reporting. With a POS system you have access to a variety of program reports including sales, costs, profits, day-end cash reconciliation work sheets and inventory management.. You can get detailed special reports showing sales for each hour of the day for any time period or profits by individual inventory items, by salesperson, or by category.
– Multiple invoice formats. Create accounting statements and price tags in a format that is best for your individual business needs.