subject: Pos System: Point Of Sale Software And Inventory Management [print this page] Point of sale software is the software retailer stores used in calculating and managing sales. Available in different programs, POS softwares range from basic features to advanced programs in improving business operations and efficiency. POS software, which is sometimes called retail management software, functions in data storage, tracking and recording sales. POS software and POS hardware interrelate in blowing up their functions. The POS software in convenience stores for example, cash register is used to tot up sales, computerizes tax on items, calculates the change back and manages inventory database, both stock and sold items. Because POS software varies according to the needs of an industry, choosing one is a matter of crucial decision as it is also quite high-priced. Oftentimes referred as retail management software, the POS software major element is the inventory management. Inventory management is the state of cross checking inventory records to actual inventory level. Inventory management is perhaps the prime of point of sale system; without such, companies would have been facing a lot of headaches in tracking sales and checking inventories. In POS system, items are simply scanned and recorded. Theft incidences and inside jobs, too, place no room in the system. Retail management is best pictured in those large-scale companies than those small-sized businesses. Small-sized businesses have lesser items and employers to control, unlike large scale companies that are more huge and complex, putting them more prone to mistakes and errors. As far as employees role is concerned, there must be a clear job description among workers. For example, in convenience stores with POS software system, cashiers who deal with point of sale must not reconcile any inventory management tasks. This avoids overlapping of roles and at the same time, protects the business from bounds of fraud. Keeping all inventory records on track is an imperative procedure; make a hard copy of all the files. If possible, individual departments or employees jot down all losses or damaged items. Time and date and other essential details must be recorded and written off. Inventory management in the business is very valuable for productive outcomes. Workers must understand how essential the system is and the proper inventory accounting. While POS software system is a commonplace in convenient stores, POS system grows in versatility by the advent of POS kiosks. At present, POS kiosks are increasingly utilized in travel, tourism and retailer stores. The main difference of POS kiosk system from the traditional POS system is that it offers consumers several choices of payment; although, items are still scanned, and taxes are calculated.
