Choosing a point-of-sale system can be a critical point in your business. The right POS system will help you track sales, as well as keep your inventory totals up-to-date. If you choose the right system, you can even have additional features. If you do not know where to start, check out this list. Here are some of the most popular features of point-of-sale systems and how they can help you boost your business.
A lot of POS systems come with an integrated barcode scanner. This is helpful for several reasons. First, a barcode scanner allows you to update inventory by scanning damaged or discarded items. Another benefit of bar code scanners is that they allow you to scan a code and easily view information, such as sale price, total sales, and the amount on hand. Bar code scanners also reduce human error, because your employees will not need to manually enter bar codes to make updates and find information.
Credit Card Readers
Credit card readers are a great idea if you are trying to catch your business up with the times. When you choose a POS system with integrated credit card readers, you can easily update inventory and total sales with every sale. This eliminates the time that would typically be needed to update information with a POS system every time there was a new sale. Instead of viewing information at the end of the day, you can get an instant update whenever you may need it.
Another feature that some POS systems have is receipt or invoice printing. The benefit of this feature is convenience. Instead of needing a separate machine to link to your POS system at the cash register, you can simply print off receipts and invoices as you go. This keeps everything current, and it allows you to avoid the pain of trying to sync a separate electronic device with your POS system.
Purchasing and Inventory Control Systems
Another useful feature to consider for your point-of-sale system is a purchasing and inventory control feature. Purchasing directly through the system increases efficiency because you can enter the barcode, see the number of items that are currently on hand, and then order the item if it is necessary. Inventory control systems also allow you to input information. If you find once you have done inventory that some of the numbers are off, you can update it on your screen. This helps you ensure that your inventory is always up to date.
Integrated Accounting Module
The benefit of choosing a POS system with an integrated accounting module is that it allows you to access up-to-date accounting records in real-time. This includes accounts payable, accounts receivable, a general ledger, and more. If you are worried about your company’s cash flow, this is one of the best ways to monitor it. As an added benefit, a point-of-sale system with an integrated accounting module can help reduce the time that is necessary to process financial reports, so you can be sure your company is running with the highest level of efficiency.
Before making your final decision on which POS system to purchase for your company, sit down and make a list of all the features you expect from your POS. Once you know exactly what you need, search for the right point-of-sale system to make that possible. Call and talk to a representative at a POS company, like those at Fattmerchant, and check to see if they offer what you’re looking for to operate your company in a smooth and effective manner. Don’t be afraid to invest in a slightly more expensive system- it is very likely that you will use it with your business for years to come.
Lautaro Martinez is freelance writer and business owner who enjoys sharing his experience, tips and knowledge in running an effective business.