The inventory software on the market today will let you track your item on a per item basis, analyze the proper time to reorder, track the changes in the cost per unit and monitor the usage. With a point of sales software , you will be able to manage your inventory while you are in your cash register. Basically, this software will record every transaction that occur which gives you an updated version of your inventory. You will also receive more essential information through POS compared to the manual and traditional system. This information can be used to create better decisions regarding merchandising and ordering.
Features of an Average Singapore POS System
There are various types of POS which will allow you to utilize the add-ons like invoice and receipt printer, electronic card reader, barcode scanner and others. POS software will typically come with built-in accounting system that may consist of inventory system, purchasing, accounts payable, accounts receivable and ledger. Simply put, this is an all-in-one accounting solution that allows you to monitor the cash flow of your business.
Some of the features that you should consider when looking for a POS include the following.
Easy Use- Make sure that you will choose software that are simple to use. Their graphical interface should also be user-friendly.
Entering of Sales Data- In most POS Systems, you will be allowed to input the codes automatically through a scanner, there are also other that requires you to manually input the code. After this code has been injected, the standard price will need to be included, and the system will then compute the overall price based on the overall quantity of the product. The effective type of POS should make it easy for you to enter sales when required.
Pricing- Different type of POS software in Singapore will offer you different ways to monitor the pricing. This may include custom formulas, margin percentage, and cost percentage. For instance, if you are offering volume discount, you should be able to indicate various prices for every item.
Updating- Once you enter the sales in your record, the POS system should automatically update accounts and inventory in the records.
Sales Tracking- Different types of business will receive payment in different manners. For instance, companies that are offering their service will keep the accounts open until such time that they completed their work. In case you are selling expensive items that can be acquired through installment payment, you may need a POS that comes with loan calculator which will tabulate the periodic payment.
Security- When you are in the retail industry, it is imperative to have a complete control on the cash receipt. This will help you prevent any possible theft. There are types of POS that will provide audit allowing you to trace the source of the problem.
Every single business is considered unique; you may realize that half of the product offered in the market will not address your companys needs. Understanding the specific feature of the Point of sale software will ensure that the POS is ideal to your needs.