Point of Sale Software – For Speedier and Smoother Retail Transactions

Point of sale is the place where a transaction takes place. A retail point of sales system usually includes a computer, monitor, cash drawer, receipt printer, customer display and barcode scanner. Point of sale software is used to calculate sales and operate the cash drawer. It sums up the sales total, figures the official sales tax, calculates the change back from the amount tendered and automatically adjusts the store inventory levels to debit the amount of inventory sold.This software is also programmed to handle functions such as pre-planned promotional sales, manufacturer coupon validation, foreign handling and multiple payment types. They are certainly indispensable for large department stores that handle hundreds of customers everyday. However, their importance cannot be undermined even for small retails as they help to streamline the daily transactions and make it simple for the business owners to keep a regular tab on their revenues. By extracting the up-to-date data from a POS software, the calculation of profits is made simpler and precise.ERP software, Accounting software and Distribution software are also quite useful for retail stores. Along with the POS software, these additional units help to consolidate the complete business transactions and enable the retailers to record their staff salary, their inventory levels, their vendor payments and the over all maintenance of their store operations. A brief description of these software may be put as:• ERP Software: ERP stands for Enterprise Resource Planning. The software is used to take care of important aspects of retail operations including estimation, order entry, scheduling, purchasing (from wholesalers), inventory management and maintenance of financial records.
• Accounting Software: This software records and processes accounting transaction such as accounts payable, accounts receivable, payroll and trial balance. A record of all vouchers, financial statements and the business balance sheet are controlled through accounting software.
• Distribution Software: This is an integrated software to manage order purchasing and inventory control as well as accounting, purchasing, sales and financial management.An integrated retail software system can be customized with all or any of the products described here and help retailers in accessing crucial business information at any point of time.

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