POS or PoS is an acronym for point-of-sale. Point of Sale can be a retail outlet, a checkout counter in a shop, or any other location where a sale transaction takes place.
POS system is a computerized cash register which adds up the sales totals, calculates the balance to be returned to buyer and automatically adjusts the inventory levels to reflect the quantity sold. The equipment required for POS to work effectively are cash registers, card readers, bar-code scanners and so on.
The Advantages of a Point of Sale system are :
- It helps to calculate sales and manage the cash drawer.
- It manages inventory and facilitates the barcode scanner operations.
- It offers a flexible and simpler way of querying your inventory and sales database.
- It helps you track product movement and the cost to push certain brands over others.
- It tracks and records the date and time of every sale made at your point of sale.
The Salient features Point of Sale (PoS) in Tally.ERP 9 are as follows :
- Generates POS Invoice with date and time of the transaction.
- Generates POS related reports such as Cash Registers, Sales Registers and Inventory reports.
- Ensures management of gift cards, vouchers, admissions, discounts and so on.
- Allows multiple mode of payment for a single invoice.
- Eases Cash and Credit/Debit transactions and tracks balances to be tendered to buyers.
- Provides quantified tracking of sales and promotions.
- Allows for real time updation of inventory and the option of quickly matching inventory with floor counts.
- Helps in identifying consumer-purchasing patterns.
- Facilitates bar-code scanning of Stock Keeping Units (SKU’s) or items.
- Ensures multi-level security control of cash and Inventory.
- Increases efficiency and productivity at the point of sale.
Tally.ERP 9’s point of sale application can search your inventory database not only on item description or SKU but also by alias name, part number, keywords and so on. Stock summary reports can be used for viewing group-wise, category-wise, godown-wise, batch-wise and supplier-wise details of the stock items.