Types of POS System

Types of POS System

Types of POS System

POS represents Point of Sale which is used to track the complete transaction between the product seller and customer.  There are many POS systems available on the market.

When you are purchasing at the retail shop you are completing the Point of Sale (POS) or Point of purchase (POP) transactions. To record that sale transaction details using the POS System.

What is the Point of Sale System?                   

Point of Sale System is synonymous with POS terminal that an electronic device used to perform the sale transaction and process the credit card payments.  Everyday sales transactions and operations are managed by the POS software combined with a computer terminal. In simple words, the POS system is the combination of POS software and POS hardware that is used to track the transaction and payment through the POS machines.

A point of sale system is essentially used for inventory management, labor reporting, menu customizations, price adjustments, staff management, sales reporting, customer management, marketing initiates, and so much more.

Example of POS software

  • Square – for credit card processing.
  • TouchBistro – for restaurants iPad POS solution
  • Poster POS – for point of sale and inventory management system
  • Vend – for retail business

Types of POS Systems

  1. Restaurant POS Systems

For what reason is a point of sale system required for a restaurant? To accept cash and credit card payments the restaurants require a point of sale system. In addition to receiving payments, you should be able to track all the financial and tax information. Restaurant POS has a built-in reporting feature to monitor your transactions by date, time, and type. Through the time clock feature, you can follow the payroll and track the inventory and food usage.

  1. Retail POS Systems

Retail point of purchase (POP) systems is mainly for retail environments.  With the goal that implies you would never use restaurant software for a retail shop and vice versa.

Some software or Apps available on the market claim to be cross-platform, but that doesn’t mean you should ever use them.

Color and size matrix, inventory tracking, employee commissions, gift registry, customer database, layaway, and purchase orders, digital scale or barcode scanner for weighing or scanning items are features of the retail shop. You can also get the following report based on your transactions such as detailed sales reports, customer reports, vendor reports, and inventory reports.

Through this blog post, you can know about the Point of Sale Software and its few types. If you want a free demo on POS system for your business call us on + 65 6227 1797 / +65 6746 2613 or write to us on sales@ezaccounting.com.sg@ Hurry up!!

If you want to benefit from the PSG Grant designed by the Singapore government but have no idea how to claim it, Visit IRAS & Visit BGP website. You will get complete assistance to claim the PSG Grant Singapore.