A Point of Sale (POS) system is a system used to manage businesses and small companies that rely on products in their sales system. This facilitates and manages sales operations and also helps to save working time, increase efficiency, organize and speed up the sales process. It helps to follow up and review any sale separately, This is done by registering them directly in the system, which works to issue detailed reports on any sales that occur to your business according to date, profits, revenues, expenses and many other things, and then these systems help you make the right decision for your business.
Importance of POS systems:
These systems are designed to help commercial activities and small companies to manage and organize their accounts for their importance in:
- Easily categorize products according to your business.
- Ease of creating barcodes for each item.
- Integrated management of stores and safes.
- Pay easily according to the different payment methods of your customers.
- Ease of handling equipment (printer – barcode reader – drawer – scale)
- Issuing reports on product sales trends, highest sales, and product profitability.
- Facilitates inventory operations by barcode.
- Managing all parts of the activity (sales – purchases – treasury – stores – accounts …).
The essential elements that any (POS) system must have:
These items should be a staple in any accounting software that activity depends on them:
- Record different items and products using dimensions and units of measurement.
- Record a number of stores and safes.
- Managing suppliers and customers.
- Record purchase and sales invoices quickly and accurately.
- The possibility of recording and inventorying items by barcode.
- probability of knowing the incoming, outgoing, and quantity of items in the store.
- Some important reports such as (profit report – cost of goods report – representative and customer report, sales and purchase report).