What is POS Software?

POS Software, also known as Retail Management Software, is software used by businesses to enter and track sales, inventory, customers, vendors and calculate profits.
Point of Sale systems are used primarily on the front end of a business, where clients interact with associates and make purchases.

The POS unit handles the sales to the consumer but it is only one part of the entire POS system used in a retail business. “BackOffice” computers typically handle other functions of the POS system such as inventory control, purchasing & receiving, employee management and transferring of products to and from other locations in a multi-store/head office setup.

Other typical functions of a POS system are to store sales information for reporting purposes, sales trends and cost/price/profit analysis. Customer information may be stored for receivables management, marketing purposes and specific buying analysis. Many retail POS systems include an accounting interface that “feeds” sales and cost of goods information to independent accounting applications. More advanced POS systems also include built-in e-commerce functionality.
POS software ensures that all sales and monetary transactions are accounted for in a computer system. This makes it possible to calculate total sales and individual staff member productivity throughout the course of a day.
Point of Sale software adds up the sales total, figures the state/province sales tax, calculates the change back from the amount tendered, and automatically adjusts the store's inventory levels to debit the amount of inventory sold.
A retail Point of Sale system typically includes a computer, monitor, cash drawer, receipt printer, customer display and a barcode scanner. It can also include a weight scale, integrated credit card processing system, a signature capture device and a customer pin pad device. More and more POS monitors use touch-screen technology for ease of use and a computer is built in to the monitor chassis for what is referred to as an all-in-one unit.
All-in-one POS units save valuable counter space for the retailer. The POS system software can typically handle a myriad of customer based functions such as sales, returns, exchanges, layaways, gift cards, gift registries, customer loyalty programs, BOGO (buy one get one), quantity discounts and much more. POS software can also allow for functions such as pre-planned promotional sales, manufacturer coupon validation, foreign currency handling, multiple payment types and vendor management.

A good POS software system should offer the following components and features:

Point of Sale Inventory Management Pricing Purchasing (including automatic purchase order creation) Vendor and Supplier Management Receiving Customer Management and Marketing Employee Management Accounts Receivable Accounts Payable General Ledger Payroll Work (Repair) Order Tracking and Shop Management Rental

E-Commerce/website integration Security Multi-store Sales Reports Inventory Reports Purchasing Reports Customer Account Reports Accounts Receivable Reports Accounts Payable Reports General Ledger Reports Work Order Reports Rental Reports General System Features Hardware Support Software Provider General Information and Pricing

POS Software - General Features

1. The PoS Designer's Client / Server Architecture supports Microsoft Operating Systems - Windows 200X and XP.
2. When running under Windows on an open hardware platform, the product is compliant with "OLE for Retail POS" (OPOS) standards. This allows the product to seamlessly support a vast array of PoS peripheral devices.
3. On proprietary hardware platforms, the PoS Designer's Layered Architecture allows the same application to run across multiple platforms while supplying a consistent output to both the Operator and the home office.
4. Extensive use of parameters at both the Store and Terminal levels make PoS Designer the most configurable base POS system in the retail software Industry.
5. All literal messages which are printed or displayed are fully programmable, allowing for full support of various languages (at present, we support over twenty).
6. PoS Designer's unique Development Tools Set permits the User to create their own transportable (to any hardware platform) PoS software application.
7. Database files are ODBC compliant, allowing data to be easily exchanged with any existing ODBC databases.
8. PoS Designer uses Crystal Reports - the industry leading software for all reports.
9. Extensive diagnostics, centralized error and event logging and automatic testing facilities are built into the product.

Advantages of  POS Software:

·         You can save money with a POS system: A computerized point of sale system can cut down on shrinkage(the inventory that disappears from your store or restaurant) due to theft, waste, and misuse. It can also ensure that every item in your store or on your menu sells for the correct price and generate detailed sales reports that can help you focus on higher-margin items.

·         Get more information with a POS system: Know where you stand at any point of the day. A POS system can instantly tell you how many of a particular product have sold today (or last week, or last month), how much money you have in your cash drawer, and how much of that money is profit. Detailed sales reports make it much easier for you to keep the right stock on hand. Track inventory, spot sales trends, and use historical data to better forecast your needs. Often, POS software can alert you to reorder when stock runs low. Plus, it allows you to collect the names and addresses of your best customers as part of standard transactions, which you can then use for targeted advertising and incentive programs.

·         Increase productivity with a POS system: POS systems can dramatically reduce the time you have to spend doing inventory, sales figures, and other repetitive but important paperwork. The savings here: time and peace of mind. In retail settings, barcode scanners and other POS features make checkout faster. Restaurants will find their order process greatly streamlined as orders are relayed automatically to the kitchen from the dining room. In both cases, your customers get faster, more accurate service.

 Common Hardware Components:

·        The Computer

·        Monitors

·        Receipt Printer

·        System Printer

·        Multi-purpose Printers

·        Cash Drawer

·        Scanner

·        Networks

·        Modem and Telephone support:

·        Internet Access

Common Software Components:

·        Inventory

·        Vendors

·        Customers

·        Mailing lists

·        Point of Sale

·        e-commerce

·        Management Reporting

·        Sales Tax

·        Sales Analysis

·        Purchasing

·        Consignment Sales

·        Bar Codes

·        UPC codes

·        General Accounting