register point of sale terms and definitions
The register point of sale (POS) guide with terms and definitions is a comprehensive guide designed to simplify the key terminology associated with retail POS systems. This resource covers essential terms, such as Inventory Management (tools that track stock levels and reorder supplies), Payment Processing (the system that handles transactions between customer and merchant), and Sales Reporting (data analytics that provides insights on sales performance). It also defines hardware components like Barcode Scanners (devices used to read product codes) and Receipt Printers (machines that print customer transaction receipts).
With clear and concise explanations, register POS terms and definitions ensure business owners and professionals alike have the knowledge needed to make informed decisions about retail POS solutions, enhancing operational efficiency and customer satisfaction.
point of sale software system
Point of Sale (POS) refers to the location or system where a transaction occurs between a customer and a business. It typically includes the hardware (like registers, scanners, and receipt printers) and software (such as inventory management, payment processing, and sales tracking) used to complete purchases. A POS system enables businesses to process payments, track sales, manage inventory, and generate reports, making it a crucial component for managing retail operations efficiently.
register by ability business
register is a lite point of sale app that connects and integrates with QuickBooks Online. Retail verticals can scale and streamline workflows with this solution.
With QuickBooks Online as your business foundation, simply connect register to handle retail sales, just as you would with any POS software. Once the register app is up and running, sales data will flow to QuickBooks Online automatically.
With register, you will be able to:
- ring sales
- scan Inventory
- create customer profiles
- accept payments
- check inventory quantities
- manage users
- create customer profiles
register terms
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point of sale (POS) terms
API (Application Programming Interface): Interfaces that allow third-party software to integrate with the POS system.
Cash Register: The physical machine or software used to record and process sales transactions.
Cloud-Based POS: A POS system that operates in the cloud, offering accessibility from various devices and locations.
Customer Loyalty Program: A system for rewarding repeat customers with discounts or other benefits.
E-commerce Integration: The ability to connect the in-store POS system with an online store or website for unified inventory management.
Employee Permissions: Different levels of access for store employees based on their roles.
Multi-store Support: Features that allow businesses with multiple locations to manage inventory and sales across all stores.
Offline Mode: The capability of the POS system to continue functioning even when the internet connection is lost.
Onboarding: The training and setup process for introducing new employees to the POS system.
Payment Gateway: A service that authorizes and processes payment transactions, such as credit card payments.
Sales Report: A summary of sales data, often including metrics like total revenue, sales by product, and sales by time period.
Synchronization: The process of updating and aligning data across multiple POS workstations and accounting software.
sales terms
Discount/Promotion: Special offers or reduced prices on products to attract customers or increase sales.
EMV (Europay, MasterCard, Visa) Chip: A technology used in payment cards for enhanced security.
Gift Cards: Prepaid cards that can be used to make purchases within the store.
Mobile Wallet: Payment methods like Apple Pay or Google Wallet that use mobile devices for transactions.
Receipt: A printed or digital record of a transaction, detailing the items purchased, prices, and taxes.
Return/Refund: The process of accepting product returns and providing refunds to customers.
Sales Tax: The additional fee added to the total purchase price, required by tax authorities.
Transaction History: A record of all sales and payment transactions made at the POS system.
inventory POS terms
Barcode: A unique code printed on products that can be scanned to retrieve product information.
Inventory Count: The process of physically counting and reconciling the stock of products in the store.
Inventory Management: The process of tracking and controlling a store’s stock, including ordering, receiving, and stocking products.
SKU (Stock Keeping Unit): A unique identifier assigned to each product in a store for tracking and inventory purposes.
POS peripheral hardware
Barcode Scanner: A device used to scan barcodes for quick product identification.
Cash Drawer: A physical drawer in the cash register where cash is stored during transactions.
Payment Terminal: The device used for processing credit and debit card payments.
Receipt Printer: The device used to print transaction receipts for customers.
Touchscreen Terminal: The user interface for entering sales information and processing transactions.
