Point of Sale Software

Posted by on May 31, 2014 in Blog, Point of Sale | 0 comments

How Point of Sale Software Works

So have you finally bought that sought after system known to the retail and restaurant industries as point of sale software?   If so, congratulations!  No more manual inventories, no more lack of financial statement reports, no more inefficient costing and pricing tasks. You also don’t need to hunch your back every night just to understand your cashier’s handwriting!  But before you relax and plug that system, there are a couple of things you must know. You must first understand how your software works, what its parts are and how your point of sale software is different from other POS software. Here is a quick overview on point of sale software focusing on the retail and restaurant industries.

 

So What is POS Software About?

POS software is a computerized pit stop for goods transaction, no more cash register. This efficient software is used in retail, food, beauty, sports & leisure, and hospitality industries alike. Companies in these industries typically choose to utilize this system because it can be used for inventories, printing detailed transactions history e.g. invoices and receipts, and can also handle payments in cash or credit/debit cards. This system is also designed to suit the needs of the merchant’s business.

 

Retail vs. Restaurant Point of Sale Software

Point of sale software is an advanced type of software that caters to different industries but the retail and restaurant industries are its most profitable ones. The biggest difference between the retail and restaurant POS software is the fact that retail POS is highly encompassing but is complex and a specialized type of system. What it means it that the retail POS program, design, and system sometimes cannot be altered. On the other hand, the restaurant POS software is an adaptable and straightforward system.

The difference in function is also immense. Restaurant POS software is a times limited to inputting customer orders to be sent to the kitchen or the bar, print out order checks and receipts, and can only print out simple financial status reports.  Typically a retail POS requires more functions such as advanced inventory and stocking protocols.  Retail POS is also capable of doing price and cost analysis, analyzing different retail trends and producing reports (financial and sales). Of course it can also do the basic retail cashier functions such as recording the sales, exchanges, and returns.

Both restaurant and retail POS systems are capable of processing multiple payments at one time and inputting promotional sales info such as house accounts, loyalty programs, and gift card transactions.

 

How Payment Cards work within POS Software

POS software utilizes UPC card data and codes that are encrypted, thus ensuring safety, and for the computer to process the information the POS system, it actually uses specialized computer software. In most cases this software is already included in the POS System kit so you need not worry about it.  In order to use the system, the user will just swipe the card or input the information needed about the client, continue with some security checks, depending on system, and that’s it transaction finished.  All information about the transaction will be recorded and saved.  Its important to ensure that a POS and/or payment professional  helps you set up this portion of the POS system to ensure PCI compliance.

Leave a Reply

Your email address will not be published. Required fields are marked *