For one to complete the necessary transactions in a retail business, there is a point of sale to do it which is also referred to as the point of purchase. At the point of sale, the amount that the customer owes to the retail business is calculated for him/her to make a payment. For all the services and the products that the customer has received, an invoice will be prepared showing the total amount accrued as well as the means of payment which he/she can use. Once an invoice has been generated, the customer will make payments for the goods or services at the point of sale. A customer receives a receipt which can either be printed, be sent electronically or can be dispensed once he/she makes the payment for the goods or services received. Use of a barcode scanner, weighing scale or cash register are some of the ways which are used in the POS system to calculate the total cost a customer needs to pay to the retail outlet for goods or services received.
POS systems are increasingly being adopted by many businesses as there is no need for price tags in a retail. Making use of the POS terminal software for the POS retail which has several additional features to help in the functioning of the business such as inventory management, warehousing, financials as well as customer relationship management for the current and potential customers will be of great benefit for the business. The selling prices of the items in a business can be determined by linking the product code to the selling price which will only require the product code to be scanned showing the price of the item. Other benefits of the POS systems include the implementation of discounts on various products, loyalty schemes for the customers as well as controlling the stock efficiently.
There are factors that one has to consider when in need of a suitable POS system software for use in their retail business. The major concern for the POS system is to promise of security form those handling the system more so the cashiers who might bypass scanning certain items which they later benefit from on the sales window. To prevent such security bleaches, it is important for the POS system to have an admin window which can only be accessed by a superior person in the retail outlet to generate and inspect all the list of sales made in a day more so to those that were cancelled before completion, negative receipts as well as the refunded receipts. The POS system should also be operating in a quick and reliable way to save on time since it is technology being used.