Even when we make payments in cash, the cash drawer will facilitate the drawer’s opening and closing and record the sale.
LOCAL CLOUD SOFTWARE SOFTWARE
A POS, therefore, consists of software that will scan the barcode on the product and extract the product name and price, read the card data, process financial transactions, store the transaction, and print the transaction receipt. What does a POS do?Įverybody knows a POS is used to process payments, transfer money to a bank account, and keep a sales record. But first, let us discuss the data that are needed to be stored by the software. This article will discuss the two types of POS software, their primary features, and the differences between them. The difference is so significant that every retail store owner needs to understand it and decide which one will work best for him before integrating POS into his business. However, the software stores data in two basic ways, either on a local server or in the cloud.
A typical one you will see in popular retail stores consists of a screen for monitoring transaction progress, a barcode reader for determining the price, a card reader for processing payments, a receipt reader, and a cash drawer. A complete POS system consists of both hardware and software. Even if you are just about introducing it to your business, the basic working principle is pretty easy to understand, even though it is a very complex system. If you have been using this system, you sure understand how it works.
A POS machine does not only receive payments but also print receipts and keeps records of financial transactions. It also makes payments faster and record-keeping easier. It reduces the physical handling of cash, hence minimizes all risks associated with it. POS has been around for a while, and it is providing solutions to making payments, especially in retail stores.
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