My brother owns a liquor store and he uses a POS system.
Vintage point of sales system software#
Once the hardware and software is installed and the databases updated, you are now ready to use the system and get the information you need. Future articles will compare different POS software to your respective needs. In addition, if your inventory process becomes more complicated whereby you take raw resources and then turn this into an assembly of some sort, the software will require more coding to assist you in achieving great information at the end of the day. In those business operations that have many stores and a broad base of customers, your software will be more expensive. Of course, the key is the type of information you desire. Software can range from around $1,700 at the low end to millions of dollars. In addition, if you have regular customers, you can load their respective data into the software too. In general, a database of the inventory is loaded into the software by scanning the UPC on each product you sell and you tell the software the cost per unit and the number of units on hand. The software is programmed to meet your respective needs. Hardware will run around $1,500 per station or register in your store. Typically this includes a cash drawer, a computer, a scanner (wand) and a credit card reader. In general there are two parts to a POS system. Many small contractors carry accounts with Home Depot and Lowes. Examples of this include your large home material suppliers.
If you have regular types of customers, you can even determine which customers purchase the most. In addition, the POS will document via the UPC numbers how many of each product was sold.
This allows for easy till box reconciliation at close of business. If the report states that sales were paid via two forms, so much in credit cards and so much in cash, the cashier should have that amount of cash in the till box at the end of the day. The system tabulates the entire day’s sales and reports the form of payment. Using comparative tools, they can compare to prior years for stores open more than a year they can forecast the expected volume based on the trending information.īut for the small business owner, he is more interested in wanting to know how much was sold today and how were those sales paid.
Walmart’s system feeds all the transaction activity from all the stores into a central point and compiles the data to the penny. Have you ever wondered how the news caster can quote the actual volume of sales from those heavy weekends of shopping? Well, they get their information directly from the retailers that use point of sale systems that provide minute by minute updates in total sales nationwide. In addition, by having the proper number of cashiers during heavier periods of time, customers will refrain from the leaving the store because the lines are too long. Think about this for a minute, it reduces labor costs because they can open up the proper number of registers and not bring in too many cashiers reducing labor costs. Using this information, they can predict with clarity how many cashiers they will need for certain hours on any given day of the week. Walmart knows exactly the volume of sales on any given day and during any point of the day. The largest retailer in the United States has their own point of sale system. What is a Point of Sale System?Įvery business owner wants to know which product sells the most, which customer(s) buys frequently, how much inventory is on hand, what method is preferred by customers when paying (cash, credit, checks or debit) and how much did we actually sell on a particular day.Ī point of sale system is designed to provide this information to the business owner. Later articles will introduce you to the different technologies available and their respective advantages and disadvantages. This article introduces the reader to concept of the POS system and the value the system brings to you. The sections below answer these four questions. What is a Point of Sale System? How is it set up? What information should we get from this system? How does a small business owner benefit from this system? Almost all retail based operations require a Point of Sale (POS) System to properly record the customer and product activity.
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