What is POS Software?
Posted by sunainaram on October 13th, 2015
Gone are the days when the shop keeper used to meticulously write down each sale item and its price on a sheet of paper and calculate the total amount that you have to pay. Technology has made inroads into retail marketing changing the way the bills are calculated and accounts maintained.
POS is an acronym of Point of Sale and refers to the place where the bill amount is calculated and cash register maintained. With the advent of technology, bulky cash registers have been replaced by computer systems and sleek tablets loaded with a billing software. Nowadays, you see compact machines at the billing counter and a bar code reader. The person at the billing disk simply scans the bar code on the product and the system identifies the product and its price. The executive at the store can cross verify the price in the system and in the product and make relevant changes, if required. If there is any discount on the product, it is automatically reflected in the billing system. All these features make billing easy and efficient. Plus, it will allow store owners to manage the large number of people and complete the billing without any hassle or wasting anyone’s time.
Retail management system can be made more efficient with the use of a POS software. This integrated program allows store owners to easily keep track of the inventory, calculate the amount in each sale and also consolidate the sale amount for a particular day or month. This software application allows you to integrate your inventory and update the prices. You can also keep a constant check of the inventory as it will automatically be updated with each sale. So, you don’t have to go to the shelves and manually count the number of products still available in your store. The software will automatically update the count of the sold items against the values available to give you an accurate number of products still available in your store.
This billing software helps automatically create purchase order based on the inventory. So, in case the number of a particular product is very less in your store, the software will alert you of the fact. The other applications of this POS software include maintaining accounts receivable, accounts payable, customer tracking and follow up, electronic ordering, and shop management. Using this software, you can also manage your monthly employee payroll.
