POS stands for “point of sale” and refers to the physical or virtual place where a transaction takes place. It can be a store or an online sales site. The purpose of a POS system is to track sales and manage inventory. It also helps determine reorder points. A POS system may also include payment processing, inventory management, and sales reporting. This article will provide you with an overview of POS systems and their uses.
The Shipping Warehouse operation specifies the warehouse from which to fulfill customer orders. This option is used when the store’s inventory is decrementing and when customers are picking up their orders. The Shipping Warehouse field is no longer used if customers pick the warehouse when creating orders. To configure this field, go to the Stores page in Commerce headquarters. Under “Decrementing Inventory,” specify the warehouse to decrement inventory.
POS software enables merchants to manage sales by letting customers pay with credit cards. The system can process chip, magnetic stripe, or contactless payments. The software can also connect to a cash drawer to minimize fraud. The paper receipt is a record of the customer’s purchase history, and is an important part of the customer experience. In fact, it has been called “the gold standard” for customer service in retail.
POS users can change the prices and discounts of partially fulfilled orders through the POS application. However, this is not possible for orders that have been fully invoiced. To do this, a user must access the Call center module to change the price of the order. This option is only available for editable orders created through POS. Once a customer has edited an order, the pricing engine will re-price it.
A POS machine may be a traditional cash register with a keyboard and receipt printer. Some POS systems use a computer that is installed under the counter. They use a computer style keyboard to input data, not a bar-code scanner. Touch screens are also widely used. They are more portable than traditional POS machines. If you have a cash register, you can use a touchscreen. The touchscreen is a convenient way to enter information.
A POS system also provides up-to-date inventory information. The computer records the beginning inventory of a period and then monitors sales and orders. This way, the computer inventory is always up-to-date. This is called perpetual inventory, and it is both a convenience and a major management tool. By knowing exactly how much inventory you have, you can only order the amount that you need. This saves you money and time.
The most common uses of POS systems are in the retail industry. A retail point of sale system typically includes a cash register, receipt printer, barcode scanner, and credit/debit card reader. In addition, many POS systems have other features, such as a conveyor belt, check divider, and signature capture device. Touch-screen monitors are also becoming more common in POS systems. Most of these devices are built into the monitor’s chassis.