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Point of Sale – An Explanation of Epos A point of sale system is a computerized machine system with the required software and hardware that are found in most of the retail shops, restaurants, and other such places to issue receipts, bills, to track products, and maintain records of customers as well as stock. This system has greatly replaced the old system of maintaining registers and manually entering figures and data. Instead, these registers are replaced with electronic registers and hence have served a lot of benefits in the lines of sales and stock maintenance. Easy customer service is enabled due to the uncomplicated and error free billing and pricing and this saves a lot of time and confusion for both the customers and the retailers. The bills given to the customers have details of every item that is bought, with the discount rates and the final rates. The date, amount, and the number of items are also clearly stated by the point of sale system, in case any exchange is necessary. Point of Sale Record keeping is made very easy, since this system keeps into account the exact quantity of stock available and lets the retailer know in case the stock is over. This saves a lot of manual stock taking time and effort thereby preventing manual errors. A clear idea of the moving and non-moving stocks is got and this certainly helps the business to grow. Once this is taken care, the stock that is moving fast is kept in plenty and this attracts more customers to the shop. There is a total control over the finance due to the accurate calculations done by this system and the day-to-day transactions and cash flow is well maintained. This relieves the businessperson of tensions and in turn expands the business. Point of sale system is one of the smartest ways to grow in business.
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