The Benefits of a POS Generated Report

The Benefits of a POS Generated Report

Reporting benefits of a POS system

If you have a cash register, there is an inherent liability that goes along with it: the cash could disappear. When money is changing hands, there is a higher risk of both theft and mistakes. That is why having a third-party review your bookkeeping is invaluable to business owners.

By having a point of sales (POS) system recording each transaction, you can have peace of mind that, yes, this is how many sales were made and here is the money in the register to prove it. Tracking the sales and comparing your cash deposits is a way to make sure that your employees aren’t stealing from you.

Having unbiased sales reports on the back-end is the best way to track what’s happening in your storefront.

1. Don’t Waste Your Time 

There are many ways you could track your daily sales activity. You could keep a running spreadsheet of the reports and update it every time a register closes out. But what happens when you want to pull a cumulative report to see how much sales tax was collected?

Yes, there are ways of keeping track of your daily sales without investing in a POS system. But based on my experience of aiding a client through a sales tax audit, their POS system was priceless. Its ability to quickly pull any reports for a date range is unparalleled when compared to making the reports yourself. Even when you are proficient at using Excel, the work required to compile reports and create V-Lookup tables by hand takes the time that you should be spending on growing your business. 

2. Automation Prevents Mistakes

There is too much human error to account for in a reporting process that isn’t automated. Whether it is an Excel formula that got altered accidentally, a sale rung up after the register was closed (which requires you to try and figure out the over & short by hand), or the numbers that were simply mistyped, the accuracy of your reporting is too important to leave to any one person.

No matter how hard we try, there are going to be mistakes. So if you are still hand-keying information into a spreadsheet, you should stop now because in the end, it will take more time and effort to fix your mistakes than if you had invested in a POS in the first place. 

3. Daily Updates On Revenue

Recording income on a daily basis through daily sales entries is a way to get a snapshot of revenues in an instant. Your data is not 100% accurate by nature, but you can get a rough estimate of where your current revenue stream is in relation to your goals. 

With the option of being able to check in on your progress, patterns in the cash flow could be recognized more easily. 

4. Prevent Problems Proactively

If you have the opportunity to notice patterns, you could be able to pinpoint areas in the business that need attention. Being able to see the patterns in the day-to-day activities as they occur could give you the information you need to proactively handle potential issues rather than waiting for real problems to materialize.

Why POS Systems Are Worth The Investment

Overall, POS reporting is the best way to get an unbiased report on what is happening at the cash register: 

  • If there is something fishy going on, you will know, because verifying the report versus what hit the bank is one of the most effective controls on cash.
  • POS reports save you the time and money you would otherwise waste going back to fix the mistakes that someone made hand-keying the information into a spreadsheet. 
  • You have up-to-date information on your cash flow, which gives you an opportunity to see how you are measuring up to short-term goals, allowing you to address problems as they arise, rather than after the fact.  

If you have the tools to assess where you are in relation to your goals, then that is the first step of keeping your business on track.


Choose your retail POS System

If you plan on having a retail store, you will need a point-of-sale (POS) system to complete sales, track inventory, and manage other aspects of your small business.  But deciding on a Retail POS system can feel overwhelming. Some are easier to use than others. Some give you better reporting than others. To help you narrow your search, here are three types of Retail POS systems to consider for your store.

StorePoint POS Back Office
StorePoint POS Back Office

All-In-One POS System

Some POS systems give you robust functionality in one application. Not only can you accept payment from customers but you can also get detailed reporting about your business.

These types of Retail POS systems often run quickly, saving you time both when checking out a customer and when collating your data. Because these systems are so robust, they’re often tailor-made to your specific industry. For example, a restaurant all-in-one POS system will look and react differently than that of a clothing store all-in-one POS system.

The potential downside to these systems is that they can cost a good amount of money each month. If you’re just getting started, you might want to opt for another system that’s better suited for your budget.

Restaurant POS Order screen
Restaurant POS Order screen

Cloud-Based POS System

Cloud-based POS systems are basically mobile apps your business can use on any device. This is beneficial to many types of businesses, including restaurants wanting to offer table-side checkout or retailers wanting to offer mobile checkout locations throughout the store.

If you’re using non-traditional hardware, such as tablets or smartphones, to accept payment, you’ll want to get a cloud-based POS system.

zipzap_card_processing
zipzap_card_processing

EMV Chip Readers

In late 2015, consumers started to have their credit cards switched to include the EMV chip. Store owners were supposed to do the same, yet many retailers have been slow to adopt EMV chip readers at their POS systems.

EMV chip readers don’t matter much for consumers, but they make a big difference for retailers. If there is a fraudulent charge, retailers have better protection when a chip reader is used rather than the traditional swipe-to-pay system. If you’re shopping for a new POS system, getting one with a chip reader is ideal. Soon, it’ll be the only option you have.

Which One is Right for You?

Narrowing the pool of choices to the type of POS system will help you decide which one is right for your needs. If you’re well established and have a healthy revenue stream coming in, an all-in-one might be the best option. If you’re just getting started, you’ll want to steer toward the cloud-based POS systems. And, if you want to stay compliant while minimizing your risk, you might want to limit your search to only include POS systems with EMV chip readers.


Benefits of POS Item Modifiers

Forced_POS_Item_Modifiers

One of the most overlooked functions in your Restaurant POS System is the item modifier functionality. So many restaurant pos systems claims to have food modifier functionality in their restaurant point of sale. It becomes problematic when you bought a retail pos system to be used in your restaurant or quick service restaurant.

So let us have a look what is a food modifier and what it does. A food modifier is option that pops up, when working in the menu order screen. Modifiers could be forced or could be a choice.

Forced modifiers allow you to force the server to pick from a preset list of suggested or acceptable items on the menu. They are usually added to the main entrée or a choice of food or beverage that requires specific preparation instructions. This feature forces a set number of item choices to be chosen by the server from the order screen. When Forced Modifiers are attached to a particular product, the server will not be allowed to continue the order until a modifier is chosen or they exit out of the Forced Modifier screen. Forced Modifiers will be attached at the product level.

Exception Modifiers allow you to pick from a preset list of suggested or acceptable items under Exception Modify tab on order screen. This feature is similar to Forced Modifiers with the exception of the server being “Forced” to choose a selection. The server now has options to modify an item or exit modifications and continue with the order.

Benefits of item modifiers are:

Modifiers ensure that orders are correctly placed and send to the kitchen. So cooking instructions and choices are sent correctly to the kitchen. Keeping your customers happy.

Save money as orders are placed correctly as received from customers. No more wastage.

Inventory depletion plays a vital role in the execution of choices during the ordering process.

When using restaurant online ordering modifiers ensure the correct ordering from customers, ruling out incorrect orders, and wasting stock and enhancing the customer experience.

For further information on our restaurant pos systems please visit Home StorePoint Restaurant POS


5 ways to ensure a more profitable future in retail

It’s clear that the retail landscape is in a state of a major transformation. Thanks to disruptive technologies and changing consumer behavior, traditional retailers are under increasing pressure to keep up with digital-first companies such as Amazon, Takealot, Superbalist, etc.

StorePoint POS Back Office

A large SA retailer that employs approximately 40,000 people, is implementing a survival plan to ensure it does not close its door, having previously reported having struggled with making enough profit in the past. The retailer’s plan, which will help to up its game, is based on seeking funding and not using technology to up its profits.

The future could look bright for those retailers who are willing to embrace innovation and invest in long-term growth. But how do they need to adapt? And where should they be focusing their spend and resource?

Here are 5 ways retailers can safeguard their position in an omnichannel world.

1. Bring the shopping experience to life

There’s no doubt that the selection pressure on retail businesses is changing, and those that fail to adapt certainly face decline and even extinction. But whilst traditional retail businesses based on brick-and-mortar stores urgently need to update their business models for the Amazon age, they also need to start recognizing the unique advantages their physical locations offer – and then using technology to enhance them.

After all, unlike shopping online, the brick-and-mortar experience is one of true discovery, which can be done with friends, and also offers the possibility of in-person interactions with retail staff. The more retailers can play up these three elements, the more they can win back the hearts and minds of consumers, using the opportunity of in-store interaction to their unique advantage.

2. Break down departments to connect shopper behavior online and in-store

If retailers invest properly in infrastructure that breaks down internal departments, they will be able to offer consumers truly omnichannel shopping experience.

Until recently, there was no connection between what a shopper bought or looked at online and their behavior in-store. But knowing who the customer is, where they are, and their preferences is critical. To do this, retailers are using analytics, location, and context, and seeing rising sales as a result.

By aligning back-end operations with front-end customer service, and using technology at every step of the supply chain, the retail industry will start to get a single, multi-channel view of its omnichannel customers. This is exactly what it needs to offer the seamless, streamlined experience that consumers now demand.

3. Gather deeper insight into stock and inventory

Tied to the above point, part of developing insight into a customer’s in-store behavior includes collecting data around stock and inventory. At present, the structure of many retailers fails to live up to the needs of modern customers. Stock is typically received and allocated to different departments that serve the physical shop, e-commerce, pop-ups, and wholesale. But this kind of approach is no longer fit for purpose in an omnichannel world.

With growing customer demand to access any item through any channel at any time, retailers need to have a precise picture of their inventory 24/7.

To achieve this, and ultimately increase profit margins and retain customers, retailers must improve their POS systems and make better use of inventory tracking technology. Investing in technologies such as radio-frequency identification and electronic shelf labels will enable retailers to monitor stock levels in real-time, and ensure they know exactly what they have in at any given time. Not only will this avoid customer disappointment in out-of-stock items but it maximizes efficiencies, saving the retailer time and money in the long-run.

4. Empower employees with technology

If brick-and-mortar retailers are going to overcome the challenges they face, they must be willing to invest both money and time into offering the kind of experience customers have come to expect. Perhaps surprisingly, the focus for this investment starts with employees – more specifically, empowering employees through digital technology and connected workplaces.

After speaking to 900 managers and non-managers in global retailers, and conducting interviews with two industry experts for our report The Road to Digitalisation in Retailing, we found that retail workers using digital workplace technology were not only more productive (72%), but also better able to differentiate their customer offering against the competition (59%).

The benefits of digitization for employees is clear. But with more than a third of those surveyed saying retail has been slow to implement workplace technology compared to other industries, retailers must make this more of a priority. To thrive, they must focus on technology at the edge of the network – in the physical locations that staff and shoppers are most likely to interact, and then provide staff with the connected digital tools that allow them to deliver a more personalized service to every customer.

5. Think differently about success and ROI (long-term investments vs. short-term gains)

After years of focusing only on spending that brings immediate results, retailers are having to accept the need for long-term investments in both POS systems and people. Because unless they conduct a full overhaul of their legacy infrastructure and bridge the skills gap by outsourcing the right talent, they stand little chance of navigating digital transformation successfully.

Rather than mothballing any project that doesn’t deliver instant gains, the industry needs to find new ways of measuring success over longer periods of time. Once retailers get comfortable with this, they can start to focus on building smart digital workplaces – spaces that connect back-end employees with those on the shop floor and provide them all with the tools and flexibility to do their jobs properly.

For retailers, the present can sometimes seem bleak, but the future doesn’t need to be. If that is, technology is embraced and integrated in a way that empowers employees, serves customers and improves the bottom line, and retailers prepare to hold out for longer-term results.


Restaurant POS Benefits

online-pos-system
online-pos-system

Here are a few things which can be taken care of by using a StorePoint POS Restaurant Management system:

  1. Table Restaurant Management.
  2. Creating Multiple Menus
  3. Order Customization with Modifiers
  4. Different Menus for special events with Special rates and taxes
  5. Add/ Split Bills
  6. Multiple payment Gateways
  7. Manage Dine-in Services
  8. Manage Delivery
  9. Take away Management
  10. Multiple Reports.
  11. On-line Food Ordering
  12. Automated Stock Alerts
  13. Cash Management
  14. Supplier Management

Advantage of Cloud-Based POS System

Technology moves on and new features are often launched. Today many POS Systems are cloud-based and this can be a real advantage as it offers many features and facilities to your store. Here we list some good reasons to have a cloud-based POS system and increase your productivity.

1. Flexibility

A cloud-based POS system can be accessed from any devices as long as it has a browser. From a phone or a tablet, from work or from your sofa, you will always have access to your data. Managing your business doesn’t mean that you have to be in your store anymore.

Cloud _POS_System

2. Mobility

Besides managing your business from home, a cloud-based POS system also allows you to be mobile inside the store. As the system can be used from a portable device, it allows sellers to move around with the equipment. This can be very practical as vendors can have the product’s information quickly available. Moreover, this feature is extremely used in restaurants as it allows waitresses to automatically send orders to the kitchen printer, and take payments at the customer’s tables. Having an mPOS system, therefore, improves customer service.

3. Real Time Processing

As soon as an item is sold, the cloud based POS system instantly saves the information. Sales reports, stocks and customer information are always updated.

4. Secure Backup

With a cloud based POS system, data is always saved online, which makes the system safer. Additionally, as everything is automatic, you don’t need to worry about where and how often your data needs to be backed up. 

5. No High Up-Front Costs

Most of the times a cloud-based POS system can be installed on your existing device, which will save you from buying an expensive hard drive, such as a computer. Regarding the software, it can come for free to up to R 10,000. The cost of the program varies depending on the number of cash registers, the number of items in the store and the number of vendors.
Additionally, you will generally need to pay a low monthly fee. This will typically be between R400 and R900, and the fee can be fixed or based on credit card processing charges.

6. Personalized POS System

A cloud based POS system has many different options and you can decide which ones you need for your store and which ones you don’t. Marketing, accounting and loyalty programs can be totally adapted to your needs. You might need a management option to help you successfully control your employees. Also, it could maybe profit your store to have a powerful loyalty program that could advertise your business.

Pos __system

7. Have the Latest Trend

In today’s world technology is moving very fast, and you don’t want to have your new equipment obsolete a few weeks of possession. A cloud based POS system can usually be updated easily and for free. New versions secure you will always have the latest trend and the best available tools.

8. Keep track of your Performance

A cloud based POS system can easily be upgraded, and it can track your growth and business needs. Additional product lines, features or stores can be added to the software. Nevertheless, even if it is rare for this equipment, don’t forget to check if your provider charges a cancellation fee to avoid being locked in a specific contract.

Even if a cloud-based POS system seems perfect, there are a few points to check before opting for this option. Check how you can transfer your data from your existing POS system, and if the provider will help you in this process. Also, you need to be sure you have a powerful internet connection or software that can run without it, and synchronize when you are back online. You don’t want to be in a situation where you can’t receive any payments.

On-Line Integration

Cloud-based point of sale systems offers easy integration to accounting packages like Sage One and QuickBooks. Integration also means quick access to restaurant food online ordering like StarvinMarvin Food On-line ordering system

Are you tempted with the advantages and importance of having a cloud-based POS system at your store? Before making a choice, you need to know which features your business needs.

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Introduction affordable Restaurant Point of Sale

StorePoint POS Green-line
StorePoint POS Green-line

Since Retail and Restaurant opened its doors in 2009, we have always been asked for an affordable restaurant point of sale. Traditionally restaurant point of sale has been always more expensive than a retail point of sale, due to the complexity that the restaurant point of sale has to deal with when compared to the retail point of sale. Through the years Retail and Restaurant has always kept the idea of a more affordable restaurant point of sale, and as the demand has grown, the decision was made to make a more affordable restaurant point of sale available.

Retail and Restaurant is happy to introduce StorePoint Restaurant POS Green-line. StorePoint Restaurant POS Green line is an entry-level restaurant point of sale solution aimed at startups like small cafe’s, bars, bakeries, bistro’s, cars wash, deli’s, fast foods, micro-breweries, restaurants, pizzerias, pubs, taverns, and wine tasting farms.

StorePoint POS Green Line offers all the traditional point of sale functionality one would expect restaurant point of sale offers.

Point Of Sale

Sell from a smartphone or tablet, StorePoint POS Green-line works on Android smartphone and tablet. Printed or electronic receipts Give the receipt to customers in a way they prefer: printed or sent to an email.

Multiple payment methods whether it’s cash or card, integrated or not, or any combination of them – you will have a choice.

StorePoint POS reports

Point of Sale Functionality

Discounts. Apply discounts to the receipt or specific items.

Refunds. Refund the selected item or all items on the receipt.

Item variants. Condense the list of items, simplifying their creation and management. Useful if some products come in multiple versions like different sizes or colors.

Cash management. Track cash movement to reduce mistakes and staff manipulation.

Work offline. Make sales with weak or unstable internet. All data will be automatically synced once the connection is restored.

Hardware. Supported hardware: receipt printer (Ethernet or Bluetooth), bar code scanner (Bluetooth or USB), cash drawer.

Multiple locations. Manage multiple stores under one account. Track your sales, inventory, employees, and customers — everything you need to know in one place.

User security. User security is achieved with the role and level security making sure users only have access to functionality they should have access to.

Secure Data Backup. Storepoint POS Green-line stores data in a secure database making sure you have backups and unauthorized access is not allowed.

Cloud-Based Realtime Reporting. Gives you information on the go, and information to make informed decisions.

Inventory Management

Items import. Quickly add thousands of items using the CSV-spreadsheets.Track inventory. Track the stock of products and their components.

Low stock notifications. Receive daily notifications about low stock to make the necessary item orders in time.

Purchase orders. Plan purchases, export records to suppliers, track stock receipts and manage vendor relationships.

Transfer orders. Easily create transfer orders and move stock between your stores. Increase and decrease stock levels for received items, damages, and loss. Perform full or partial stocktakes with a barcode scanner or manually. Track stock of items produced out of ingredients.

Reporting

Gain insights into the flow of your inventory by viewing adjustment log. View report on the cost and potential profit of your inventory. Track the sales growth or decline compared with the previous day, week, month and promptly react to changes. Sales by item analytics allow the best-selling items to be determined and therefore the right purchasing decisions can be made. Identify the cash lack at the end of the shift and track employees inaccuracy or manipulations. Receipts history review allows you to monitor each transaction: sales, refunds, discounts. Browse reports on the tax amount needed to be paid and save time for their calculation. Export sales data to the spreadsheets for detailed analysis.

Employee Management

Track each employee performance and make informed business decisions. Information on the workload per hour allows for efficient management of your staff. Manage access to sensitive information and functions. Time clock for employees.

Restaurant & Bar Features

Kitchen printers at cafe or restaurant to inform cooking staff what to prepare from an order. dining in, taking their order out, or requesting delivery. Table management to manage your restaurant floor making orders go to the right tables.

Support

24/7 live chat support. Skip the queue on our live chat support. Our dedicated team is there for you 24/7.


storepoint-pos-bundle_Easy-Resize.com

Point of Sale Bundle

CLOUD-BASED POINT OF SALE

Choose Your Software Package

Point of Sale Bundle works on a subscription model. Pay monthly and save on automation. The first 14 days are free.

Retail Point of Sale

Retail Shop, kiosk, clothing shop, liquor store, online store, vape store and

Retail Point of Sale

Cafe, bar

Franchise Point of Sale

Store and restaurant

Product management

Staff management with access control

Inventory control

Analytics and reporting with export

Customer loyalty programs

Promotions

Product Catalogue

2 register included

Staff, customer, supplies

License fee:

R660/pm

Ex VAT

Restaurant Point of Sale Software

Everything from Retail Point of Sale including:

Table layouts

Kitchen or bar station

Separate or split tabs

Ingredients

License fee:

R810/pm

Ex VAT

Everything from Hospitality including:

No Limitation on stock line items

1 additional register

License fee:

R600/pm

Ex VAT

Choose Your Hardware Bundle

Integrate a hardware bundle with the Poster software for a fully integrated POS setup.

Mover Bundle

Akashi Card Processing Unit

8 Coin Cash Drawer

10″ Tablet & Secure Stand

Countertop Printer

ONCE OFF

R14 199

inc. VAT

or R1,420/deposit & R752/week for 24 weeks

Point of Sale Bundle

Akashi Card Processor

8 Coin Cash Drawer

10″ Tablet & Secure Stand

Countertop Printer

ONCE OFF

R14 599

inc. VAT

or R1,460/deposit & R773/week for 24 weeks

Kitchen Bundle

Akashi Card Processing Unit

8 Coin Cash Drawer

10″ Tablet & Secure Stand

Countertop Printer

Kitchen Order Printer

ONCE OFF

R17 499

inc. VAT

or R1,750/deposit & R922/week for 24 weeks

*Already have a card machine? Get in touch and we will create a bundle for your specific needs – 0764293989

Optional Add-Ons

Bluetooth Barcode Scanner

R 3500-00

Optional Implementation Costs

Although setting up StorePoint POS is easy, we would recommend you make use of one of the training packages below to get the best out of your purchase!

Installation & Training

Installation and Training

1 x Hardware installation2 hour training session with staff + how to load products & suppliers. Creation of staff logins

ONCE OFF R1 995-00

EX VAT

Load Stock Items

Loading of inventory on point of sale system

Loading of all products submitted via spreadsheet by the client.Loading of all suppliers submitted via spreadsheet by the client.

*PICTURES NOT INCLUDED

ONCE OFFR1 200

EX VAT

Ad-hoc Call outs

247 support

Callout fee: R650 (Ex Vat) per hour. For FREE Support call us on
076 4293989

ONCE OFFER 650-00

EX VAT


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Point of Sale inventory procedure

Receiving and Dispatching Stock

Receiving goods from suppliers is a fundamental part of retailing. Due to the potential financial losses that can result, it is critical that staff follow the related procedures to ensure that this is done effectively. While different procedures apply to different merchandise, the following are typical receiving and dispatch procedures.

Receiving Goods

Goods are for your store
Goods have been ordered
Goods received agree with the order and invoice quantity, description, and quality.
Goods are not signed for before they are thoroughly checked. If an invoice is not received with goods, there must be provided to process it in the correct manner when it is received.
Goods are correctly labeled and immediately placed on the selling floor or store. This is to prevent damage and shrinkage.
Pre-sold goods allocated for the earliest possible delivery.
Damaged or incorrect goods are rejected and arrangements made for immediate repair or replacement – delivery slip marked accordingly.
Stock held in reserve promptly labeled after inspection and carefully stored. Reserves are organized so that the oldest item will be drawn first for the selling floor or for delivery.
Daily Goods Received record kept and processed with all relevant invoices and/or delivery docketsReceiving area kept clear at all times and rigid security adhered to

Dispatching Goods

Dispatch person alert to false or incorrect paperwork.
Ensure customers are notified of impending delivery – address checked and any money collected carefully documented so the driver cannot overlook it.
Double check goods to be delivered are correct in quantity, description, and quality. Damaged goods not dispatched unless an agreement from the customer. Regularly check loaded vehicles to ensure packing is satisfactory and only the items to be delivered are in the vehicle.
Ensure you are satisfied with the appearance of the vehicle and the driver – they create a lasting impression.
Maintain daily goods delivered records – ensure drivers sign for goods in good order and condition and customer signs at the end for the delivery.
All paperwork processed promptly

It is the manager’s responsibility to ensure that everyone adheres to the receiving and dispatching procedures. The process involved in receiving goods will vary from store to store. The responsibilities of the manager and staff when receiving goods will also vary.

Manager's Flow Chart for Recieving Goods
Staff Flow Chart for Receiving Goods

StorePoint Retail POS is equipped to handle stock receiving, branch transfers, warehouse management and invoicing to customers. Using the functionality, it prevents shrinkage and loss of stock. With track and tracing, from your point of sale, you will always know where your inventory is. You will also know when any amount is due.


OnPoint Retail Screen

OnPoint Retail Point Of Sale

The Benefits

Software functionality benefits of Onpoint Retail POS

Barcode Scanning – Commission Management- Customer Account Profiles – Discount Managemente – CommerceElectronic Signature – Gift Card Management – Inventory Management – Layaway Management – Loyalty Program Support – Multi-Location – Ordering Automation – Pricing Management – Restaurant POS – Retail Management – Retail POS Returns Management – Returns Tracking – Sales Tracking – Touch Screen – Color and size matrix – electronic invoicing – Invemtory management – Management Reports –

benefits-of-retail-pos

Hardware benefits of OnPoint Retail POS

No expensive hardware – Compatible with all top brands of hardware – Use standard bar code scanners – use standard label printers – label design makes it possible to use different sizes of thermal labels – works well with all top brands of customer displays – Touch Screen friendly design – Can be used on retail tablets – Tablet POS friendly – Hardware required use affordable thermal rolls and thermal labels.


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