The point of sale (POS) is the time and place where a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer, and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service.
A POS(Point of Sales) System, is a system in which allows the processing and recording of transactions between a company and their consumers, at the time in which goods and/or services are purchased.
Unlike a simple cash register, a POS machine can handle transactions beyond cash and credit sales. POS machines can process check payments, discounts and special offers and other customer transactions. Depending on the setup you select and the nature of your business, a POS machine can also handle inventory adjustments, sales analysis and even office management.
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