A point-of-sale, or POS, system is vital for retail establishments and restaurants; these are the systems used to cash out customers and they are often tied into inventory, timesheets and other systems needed to run your business effectively. When you're in the market for a new POS system, note a few features you want to consider and how they can help you manage your business more effectively.
1. Tip figuring
For a restaurant, why not have a tip chart at the end of the receipts your customers get? This can spell out the amount they would leave for various percentages, which in turn makes it easier on them to properly tip your staff. This type of figuring can also be good for salons, hotels, and any establishment where customers may want to leave a gratuity for the staff.
2. Exchange rate
If your business is close to an international border or in a location that often hosts visitors from other countries, you might include an exchange rate on your point of sale system. This can show customers the charges or prices in their own currency. This can make it easier for them to make purchases; they may note that they can afford more items when in your store and can also help them to know what to expect on their bank statement after making a payment.
3. Payment tracking
Repair shops may keep an invoice open until the work is done, while rent-to-own retail stores may want a POS system that figures a payment plan for customers. If you sell very expensive items and offer a payment plan with interest, a POS system should be able to calculate the payments and the interest charges.
Since not all retail environments are alike, be sure to look for a POS system that allows you to keep track of payments in a way that works for your business in particular. You don't want a system that just offers you to cash out a transaction and then open a new transaction when you need to charge your customers again.
4. Margin costing
Your POS system can work behind the scenes to note margin costing of items. This means tracking your price for products and then the price you charge your customers, and in turn, your profit margin. This can allow you to ensure you maintain a healthy profit margin if you were to offer volume discounts, switch vendors, offer sales and the like.
For information on other features a POS system might include, contact a company like Austech Weighing Pty Ltd.Share
21 August 2015
I'm a girly girl, and I'm not embarrassed about it in the slightest. I like to plan my next purchase of handbags, shoes and jewelery perfectly. I get inspiration from everywhere: magazine, blogs, books and newspapers. The trends are always changing, and I like to be perfectly on trend. I'd love to be a celebrity and have an excuse to glam up on the red carpet regularly, but it in the mean time I'll just concentrate on buying my next bit of bling and looking fantastic in my selfies. Read on and see what has been catching my eye lately!