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Helen

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  • Business: Restaurant
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  1. Order management is the process of managing orders received from customers. It includes all necessary processes like: Placing order by the customer Checking inventory stock for ordered items Forming invoice to the customer Shipping ordered items after the customer pays the invoice Communication between the customer and seller Buying new items from suppliers and updating the inventory stock These are the most popular and core steps of order management. Order management is closely linked with inventory management, and in some cases, it can be considered as a part of order management. What is order management system? The order management system (OMS) is an order management software, which helps to control order processing and process data about it. OMS is a much-needed instrument for e-commerce, especially if you sell goods on several websites or platforms. It helps to more accurately manage orders and keep a record of all actions by each channel.
  2. SHEvolution it is a mix of two words: she and revolution. Nowadays in the world, a trend has been emerging, where businesswomen are leading revolution because business leadership has always been dominated by male figures. Why is it happening? I'll mention some interesting facts: 60% of university graduates are women; women own 30% of businesses in the USA; women are twice as more likely to start businesses than male; women perform 66% of the work in the world. Shevolution comes up not only in western countries but also in the middle and far east countries as well. For better or for worse, this is a fact. We are on the brink of a new era. The women's era has come.
  3. Historical cost is the original cost of the item on the date of purchase. It is used in accounting as a measure of value for recording price of assets on the balance sheet. An example of this may be seen in real estate purchases. Let us suppose that a company had purchased a building in 1932 in downtown New York at $10,000. In 2018, that building cost $10 billion. But the asset recorded on the balance sheet is $10,000. Other than the purchase price, the historical price also includes any additional costs incurred to make the purchase full operating asset. For example, the company purchased equipment for a restaurant at $25,000. Also, delivery and installation of equipment cost $2,500. Historical cost of restaurant equipment is $25,000 + $2,500 = $27,500. That value will be recorded on the balance sheet.
  4. Money market account (MMA) is an interest-bearing account, which you can open in most US banks. It seems like an ordinary saving account but has some differences. The key difference of MMA from a savings account is how the bank uses your money. If you put money in a savings account, the bank has a limitation on its use for a loan (by law). But if you put your money in MMA, the bank can invest it in a loan or other low-risk assets to another borrower. Minimal deposit amount in MMA should be higher than the deposit on standard saving account; the lower threshold starts from $500 or $1000 (depends on the bank). The minimal account balance of MMA also should be higher. But MMA also has several perks for you: interest rate of MMA is higher than saving account; as well as a savings account, MMA is protected by Federal Deposit Insurance Corporation (FDIC); you have access to funds in the form of debit card transactions or ATM withdrawal. The law allows you to use it a maximum six times per month (many banks usually allow 3 or 4 times). If you need an account more liquid than a savings account and want to earn more interest rate than a checking account, you can use MMA.
  5. Layaway is an agreement between a seller and customer in the case when a customer wants to buy some product but doesn’t have enough money. Unlike a credit deposit, goods will stay in the store until a customer pays the full amount. For example, Janet wants to buy some vogue clothes priced $100 but does not have enough money. The store can sell the clothes to her by layaway option. For this, Janett needs to make a $20 down payment, and the store will agree to hold this clothes for 15 days. During this time, Janet needs to pay the remaining $80. Only after she pays can the store give the clothes to Janet. If Janet does not pay, the clothes will be put back in the store showcase. Layaway became common in the USA since the 1930s during the Great Depression. And nowadays, it supports many popular store chains like Kmart, Walmart, Marshalls, Toys "R" Us, and advantagesmore. Every store has their own layaway plan, and not all goods are supported by a layaway option. It is usually available for high-priced items like vogue goods, jewelry, electronics, etc. Layaway advantages (for customers): • easy to use. A store doesn’t need to check customers’ credit history; • opportunity to reserve high-demand products; • for high-priced goods, the layaway plan fee is usually less than the credit plan fee. Layaway disadvantages: • need to make down payment before getting the item; • many layaway plans have strict payment terms; • (for the seller) during a long payment term, the customer may no longer want to buy the item.
  6. You need to add a valid credit/debit card. If you get a message that verification is declined, then please contact your bank to check the reason. The most common reason for a card to be declined is that there is a limitation on the card, such as international transaction, online payment, daily limit, and so on. Please check with your bank to see if your card has any limitations.
  7. Loyverse has a 24/7 customer support and quick to respond. You can make sure that by himself.

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