Let’s take a look at some of the differences between running a retail business without a POS system and running a retail business with  a POS system.

 

Without POS With POS
Manager may manually count items sold to compare with existing inventory. POS automatically tallies items as they are sold providing complete inventory movement status.
Manager must physically determine what items are sold (or missing), or on-hand in inventory, to prepare purchase orders for inventory replenishment. Added backoffice software can provide on-hand inventory data as well as optionally provide suggested stock inventory replenishment.
Credit card authorization involves “swiping” a card through a freestanding terminal. Server waits for reply, manually records approval code and writes up a credit card voucher in addition to the check. Server must sometimes wait if terminal is being used by another server. Integrated credit authorization allows server to get approval and initiate printing of credit voucher with single “swipe”. Capability enables servers to use any terminal for credit authorization, reduces wait time, eliminates need for multiple phone lines, and often earns discounts from credit card processing companies.
Manager must manually reconcile total sales with credit card receipts. System reconciles POS and credit totals automatically, updating report with every transaction, and consolidates daily credit transactions for a single batch transmission to bank.
Manager (or bookkeeper) prepares all accounting reports daily, weekly or quarterly, as needed. POS automatically captures information in reports customized for the operation. You improve accuracy and save time.