Pos stands for point of sale and it is referring to a system that is used to record all financial transactions that occur in a restaurant or store. POS can be in the form of an electronic cash register or a newer type of computer system that allows payments to be made. A POS includes a cash drawer, a printer for receipts, an input device, and a monitor or display screen. There are several different places that offer POS systems that can be purchased for a new business or to replace an existing one.
The computer is the main functioning part of the POS system. This is what runs the software. The computer can allow tasks such as recording sales, creating reports, and managing current inventory. The computer is not the type of computer you use to access the internet. It is used strictly for the purpose of sales and cash.
The monitor is used to display all the transactions. The monitor can be a flat screen, CRT, TFT, FPD, or flat panel. The touch screens are the most popular types of screens today and are more compact and slimming instead of bulky in the back.
The printer is great for printing out receipts. For restaurants the printer can also be used to print out food orders as they come in. Once the orders are printed out they are delivered to the right department so the staff can prepare the order, whether it is food or drinks. The dot matrix printer is one type of printer that is used with the POS system but the most popular type of printer used today is the thermal printer. This type of printer uses heat to print out the receipts.
Barcode scanners are a part of a POS system. The barcode scanners are able to read barcodes which you find on the front, side, back, top, or bottom of almost any product. Once scanned the POS enters the information from the barcode into the computer system.
A magnetic stripe reader is also important in a POS system. The magnetic stripe reader, or MSR, is found on the back of any credit, debit, or prepaid cards. The most modern POS systems have built in MSR’s and have a place to slide the card into the device so it can easily read the card number and whether there are sufficient funds in the account to cover the purchase. If there is enough money to cover the purchase then the account will show approved. If not, the purchase will be denied.
The keyboard is very important in the POS because it connects you to the transaction. It’s important to always have a fully functional keyboard so every transaction can go smoothly.
The cash drawer is a very important part of the POS because it gives you access to the cash for change and to put cash in after every sale. Cash drawers are also used to store gift certificates, credit card receipts, any exchange receipts and other important documents that deal with sales.
Every POS has a customer display so the customers can see every item price as it is being scanned and applied to the bill. The display will also give the customer all the information needed to keep them informed of the total, choice of payment, and whether their payment was accepted or denied. They will also see if any discounts were given and if they qualify for any insurance coverage depending on their products purchased.
The check readers are also an important part of a POS. The check readers are set up to help stop fraudulent checks from being written. You can elect to install a magnetic link character recognition. This will verify account information as soon as you enter the check into the system.
When you have to make a choice of a new POS system you will want to make sure that you find one that can run the same software in any type of POS. You never know when you need to change systems and you don’t want the added expense of finding the right software. If you are not sure what to buy then buy the basic system and then you can personalize it according to your needs. This is the best way to save your money and make the right purchase based on what you and your business needs. The new systems are equipped to do anything that your business needs. If you make the decision based on your needs you will be satisfied with you final purchase.