The Point of Sale (POS) System is the combination of the hardware and the software that helps in the transaction process and simplifies the daily business operations. It is the place and the time where the retail transaction gets completed. At the POS system, the merchant calculates the exact amount to give the customers. The POS system prepares an invoice, shows the amount and points out to all the options the customer requires for making the payment. It indicates the point where the customer makes payment to merchants in exchange for the goods or after offering service. After the merchant obtains payment from the customers, he generates the receipt with the help of the Epson TM-T20 USB EDG Thermal Receipt Printer for a transaction that is printed or sent electronically.

The Advantages of Using the POS System

The POS System is used in all kinds of businesses from the small-sized to the big businesses. The merits associated with the POS system are as follows:

• There is practically no human error involved in the POS system and gives good ROI in the long run.
• The POS system lowers the ‘paperwork’ by generating automatically accurate reports. The instant updates in the purchase and sales records monthly, weekly and hourly gives a good idea of the performance of a business.
•  It helps in managing and tracking the inventory in ‘real time’. You would be able to monitor the items in stock or order as and when required.

The Hardware Components of the POS System

• Barcode Scanner: It helps to automate the process of checkout.
• Register Screen: It is a standard monitor which displays the product database. It helps in the other functions like viewing the sales reports and employee clock-in.
• Receipt Printer: Paper receipt printers are still important today as they give the customers are summary of the purchase.
• Cash Drawer: Cash drawers are an integral part of the POS system. It plays an integral role in storing cash. Some of the best cash drawers to invest in are NEXA CB910 DRAWER BLACK, Nexa CB710 Sml Cash Drawer Blk and VPos EC410 Cash Drawer 5N 8C 24V BLK

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