| POS or Point of Sale refers to the system that | | | | be more expensive. |
| records financial transactions in stores and | | | | * Barcode Scanners: Barcode Scanners are used |
| restaurants. It could either be an electric cash | | | | to scan or read barcodes and send the results |
| register or an integrated computer system that | | | | back to your POS computer. There are many |
| records the data pertaining to the sale of goods | | | | options that you can choose from based on your |
| or services. A typical POS system consists of a | | | | average customer volume at checkout. |
| cash drawer, receipt printer, monitor and input | | | | * Magnetic Stripe Readers: Magnetic Stripe |
| device. POS systems can be purchased as an | | | | Readers (MSR) are used to read credit/debit |
| entire unit or as individual components. Prices vary | | | | & charge cards. Keyboards and touch |
| widely depending on the brand and technology. | | | | screens often have built-in readers. You can also |
| We have put together a guide explaining the | | | | buy a standalone magnetic stripe reader if your |
| different components of point of sale hardware. | | | | input device does not have one. |
| * Computer: This is the main component of a | | | | * Keyboards: There are different kinds of POS |
| POS system and it runs the software. It is | | | | keyboards available in the market. Choose one |
| advisable to use your POS computer exclusively | | | | that suits your needs. |
| for the purpose it is meant for - recording sales | | | | * Cash drawers: Cash drawers are used to store |
| transactions, generating reports and managing | | | | cash, credit card slips, gift certificates, exchange |
| inventory. Specifically, do not use your point of | | | | receipts and other important paperwork. |
| sale system for accessing the Internet. | | | | * Customer displays: Customer displays are |
| * Monitors: Various kinds of monitors are available | | | | meant for showing item and price information to |
| for purchase including touch screen, flat screen, | | | | the buyer. They are also known as pole displays. |
| flat panel, CRT, LCD, TFT and FPD. Most touch | | | | * Check readers: To prevent fraud, you can install |
| screen monitors have flat screens and are slim, | | | | magnetic ink character recognition (MICR) |
| sleek and lightweight. | | | | automatic check readers that can verify essential |
| * Receipt Printers: Receipt printers are used to | | | | account information. |
| print receipts/orders for customers. Many | | | | When choosing a POS system, it is advisable to |
| restaurants also use POS printers to send orders | | | | look for one with software that can run on any |
| to their kitchen and bar staff. There are two | | | | type of PC. Buy the basic components of a POS |
| kinds of printers available - dot matrix and | | | | system when you are starting your business. You |
| thermal. The former use pins and an ink ribbon to | | | | can always add additional components as and |
| print on regular paper and are cheaper to buy. | | | | when the need arises. Adding new hardware is |
| Thermal printers use heat and special | | | | generally easy but ensure that equipment you |
| heat-sensitive paper to generate receipts, but can | | | | choose is compatible with your software. |