In this post, we are going to discuss the meaning of retail POS software as well as discuss how it is different from billing software. POS software is the point of sale software whereas billing software is for the financial activities of the business. In this article further, we will understand both in detail.
Point of sale software
POS i.e. point of sale software is a system that is designed to accept different types of payments from the customer for their purchase of products or services. For instance, when the receipt is generated and printed whenever any order is received, it is a kind of retail POS software. The POS system is responsible for accepting payments from customers for multiple types of products and services.
The point of sale software can support a lot of features out of which a few are listed below.
- The retail POS software is easy to use and can be operated with a single click as well as the tasks can be completed easily. If one wishes to have a quick look over the products of services as well as when the businesses’ main aim is to sell the products and services more quickly, the POS system is a perfect choice.
- Using the modern retail POS software one can easily get rid of the cash or credit card payments as it can simply allow mobile transactions from the customers. Also, the customers here get the facility to split their payments.
- The point of sale software allows managing the customers in a better manner by giving customers a separate profile in the software. The stored purchase history of every customer help to understand the preference of the customer and trends that he follows. This can help take future decisions regarding products.
- Also, in the retail POS software separate accounts can be created for different salespeople and can be given separate targets. Every salesperson gets a separate id password and hence his account can never be misused. This can make it easy to track sales achievements.
- Real-time inventory tracking is one more benefit of using retailing software. Every product of the inventory can be tracked as well as maintained easily with few mouse clicks. The POS can scan the items and add up the product in the inventory. This can save a lot of time and easily generate reports of the whole inventory.
- The reports generated in the point of sale software are impressive as they can be generated for any part of the business such as employee, product, service, customer, or any such. These reports become helpful in solving business decisions.
- The retailing software allows to auto-fill the fields as soon as a new order is received and sales the time of manual entries. Also, it keeps an eye over the inventory in a digital manner and keeps updating with regular updates.
The billing software is specially designed to solve the issues of generating and sharing invoices and bring more flexibility to business activities. The operations supported by the software include adding, editing or removing the products, services or other required fields. Also, the handler has whole control over the activities.
The major benefits of using the accounting software are:
- The billing software helps to generate professional invoices, print them as well as share them with the desired customers automatically through the email system. Also, duplicate invoices can be created and the business logo or brand image can be inserted easily.
- The accounting software can help to generate useful reports, pay GST returns, calculate taxes, avoid late payments, issue GST invoices and do much more to make the work easy and less time-consuming.
- The data can also be imported or exported easily through the files and folders to provide easy access.
- Every stock update notification is received with the help of billing software to make you aware of the stock condition and opt for the next order of the stock. An alert message will be sent when the stock goes beyond a certain limit.
- The accounting software can be used by multiple users at the same time and also, different permissions can be set for different types of users to avoid unnecessary access.
- A single click brings you useful business tips at your fingertips. This can help to understand the overall picture of the business activities.
The point of sale software is generally sited for the cash and carry stores such as grocery shops, small shops, restaurants and others. The operator of the software needs to add up the product code and quantity manually in the system and also enter the customer details. At the same time, the billing software is useful for consulting companies, IT companies, wholesale traders and much more.
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These were a few of the points showing the difference between the retail POS software and the billing software. We hope we were able to deliver the correct information to you.
Aftab Vasiwala is nurturing his future at Techimply as Software Analyst and Writer with good experience in various genres of blog writing in various industries under the several topics. He loves to write on the latest Software technologies and their impact on business’s.