Point of sale

From ArticleWorld

Point of Sale (POS) refers to the counter or sales equipment that completes a transaction. This can refer to both E-commerce and in-store retail sales. Cash registers, customer counters, and computer equipment that is used to complete a sales transaction is called point of sale equipment.

POS equipment

The development of Point of Sale equipment began in the days when the old fashioned mechanical adding machines came out. These were invented during the first half of the 20th Century, and even as early as the 1920s. These old machines involved the use of a crank, typewriter ink, and receipt paper, or journal tape. Transactions were kept track of this way, and receipts were given to customers this way as well.

The technology has come a long way since then. First came the small and mid-sized electronic POS printers and cash registers, that could rightfully be compared today’s modern day baby toy computers, which are very simple to use, and usually response to light touch. Fast food restaurants are especially made for using this type of POS equipment.

Electronic cash registers and receipt printers have also been invented in the similar vein as the old fashioned crank machines; however, they are run by electricity instead of by hand. These have a simple number key pad, subtotal, and final sale buttons that are built into them, plus a variety of other convenient keys attached to them.

The most modern day POS equipment involves the use of computer software that of which is used on PC programs such as Microsoft Windows, Linux, IBM, and Macintosh. For those who know how to operate a computer many of the more modern day POS equipment can be simpler to use than some of the old electronic ones.

Furthermore, the newer computerized equipment has faster and more advanced capabilities when it comes to keeping track of a customer’s order. Modern day POS equipment can also make bookkeeping much easier as well, because totals of all the revenue that a company has made within a given, day, week, month, or year is usually automatically recorded.

Online POS transactions

The most modern use of POS equipment is for e-commerce. Internet businesses have online checkout systems and shopping sites where people can complete their POS transaction right online. This is a new type of point of sale that is becoming just as popular to use as the retail points of sale in stores all around the world.