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What is POS?


Ashly
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The point of sale (POS) is the time and place where a retail transaction is completed.

It is the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed but is increasingly being dispensed with or sent electronically.

POS systems record sales for business and tax purposes.

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  • 7 months later...

Point of sale (POS), also known as a point of purchase or point of service, is when a transaction is completed between a seller and a buyer.

A typical point of sale system consists of a cash register (comprised of a computer, monitor, cash drawer, receipt printer, customer display, and a barcode scanner) and a debit/credit card reader.

POS is essential in business because it is used to manage everyday sales transactions and operations such as inventory management, customer loyalty program, employee management, sales report, and many more. The point of sale is also referred to as the point of service because it is not just a point of sale, but also a point of return or customer order.

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