Point of Sale System for every business

Posted by Ali on May 17th, 2023

Hash Point of SalePoint of sales, or POS, systems help manage the transaction between a buyer and seller and typically support physical rather than online storefronts. Far more than just a cash register or credit card terminal, POS systems consist of various combinations of software, hardware, and services to keep track of everything from items, prices, taxes, sale date and time, discounts, and payments.

They can also handle returns and voided transactions, and some POS software will support related needs, ranging from inventory management to sales and accounting reports.

• Transactions can't live in a vacuum — they've got to be tracked to keep your books balanced, and many POS systems connect or report out to separate accounting software. Some have their own built-in e-commerce systems or can connect to your existing system to allow your NGO to integrate point of sales information with online storefronts.

• Some POS systems can be combined with cash drawers or price display monitors to make them more "customer-friendly." They're often sold as "all in one" or "integrated" systems that contain all the hardware needed to process sales, including a computer, a touch-screen keypad for data entry, a receipt printer, POS software, a cash drawer, barcode scanner, "price poles" that display prices to customers, and a credit card terminal.

• You don't need a POS system to take credit card payments — some card readers, like the Square, plug in directly to your smartphone or tablet, and there are a number of other ways to accept credit card payments. (For more information, see A Few Good Methods For Processing Credit Cards.) But if you want to use your POS system to take credit card payments, you'll need a payment processing service and merchant account to collect money from customer accounts and a credit card reader, or terminals, to swipe cards on site.

There are several options to consider: cloud-based services, which are the least expensive and the most limited in terms of features; services specialized for nonprofits, which offer lots of potentially useful features and also cost more; all-around POS systems, which are not specialized for nonprofits but may have additional features of interest; and open-source systems, which require more technical expertise but may be attractive due to cost or ideological reasons.

How to Choose

When choosing a point of sale system, it's important to first look closely at your specific point of sales process and define what you expect of POS software and hardware to provide the greatest efficiency for your needs.

Create a plan to help you understand your goals for your new software, and have the funds available to invest in implementation, training, and support. Identify what you will need in the way of reporting — customer receipts, purchase orders, or sales and inventory reports — and make sure the solution you choose supports it.

If you're not buying an all-in-one package and plan to use your own hardware, be sure the POS system will work with it. Make sure it will also work with any other transaction-related software you plan to use, including e-commerce systems and your current accounting software.

A good POS system will make transaction-related tasks easy, allowing you to focus on the bigger picture of managing your nonprofit's retail presence and interacting with customers.