You have seen them in stores, maybe you have it installed in your own company, but the question lingers: how can you use a POS machine?
First off, there’s absolutely not any such thing as a”POS machine“. Instead, the term is sometimes used to refer to either a card terminal or point of sale (POS) system, possibly even the prior interface in which you type in earnings.
The expression”POS system” is based on the premise that there is one device that represents an entire checkout. The truth is that contemporary checkouts comprise of several hardware and software elements, for example:
- Computer screen or tablet
- EPOS (electronic point of sale) software
- Card machine
- Money drawer
- Receipt printer
- Barcode scanner
There are usually two approaches to accept cards in a till point: through manual entry or mechanically via a linked-up system. Both need a card reader of some sort — a standalone terminal for manual entry or incorporated terminal to get a linked-up system. Regardless of terminal type, it is going to need to connect to the internet via a telephone line by cable, WiFi or via a built-in SIM card.
A standalone card terminal is independent of the POS applications or cash register in which you register transactions through. There’s absolutely not any communication between a standalone terminal along with the remainder of your POS system. This means when you have tallied up the things to sell on the prior display or cash register, you need to then enter the entire amount on the card system keypad. Once approved, it is going to print a receipt if it’s an inbuilt printer, or conform with a beep or message onto its screen the payment was OK.
An integrated terminal is linked with the EPOS software, so that if you have entered products on the prior display and select card payment, the fundamental software will send the transaction amount to the card terminal. The card system will then normally light up and show the payment complete automatically, prompting the client to cover that (or add a suggestion , if this setting is switched on). You don’t need to enter anything manually on the terminal this manner. Much like standalone terminals, the integrated machine processes the payment on the telephone line or internet, printing a receipt if applicable.
How to take a money payment
Today’s EPOS systems normally have a touchscreen monitor with a visual interface for inputting goods sold and payment amount given. When you accept money, you generally enter the total given by the client in cash, and then the POS software calculates how much change is due back to the client. Now, you must put the received cash into the cash drawer and collect the due notes and coins in the cash drawer to return to the client to create the paid amount right.
When you are not using the money drawer, it needs to be securely closed to avoid theft. In the modern EPOS systems, it’s generally incorporated with the primary computer or tablet computer software, so it automatically opens once you enter the paid money amount on the till display. If it’s not integrated, you might need to manually start the till drawer.
End-of-day responsibilities with a POS machine
At the end of every trading day, you normally have to carry out a “Z report” which shows all of your daily totals split into payment techniques, e.g. cash, card, cheques and gift cards receivable.
Using a card machine, you will probably have to conduct a Z study on the terminal for only the card earnings to compare with the totals from the EPOS system. The general point-of-sale Z report may be conducted on the till display, mobile device or pc where you are able to log in the EPOS system to see sales.
For those who have a standalone terminal, you can compare the terminal Z report together with the EPOS Z report to find out whether the card totals are the same. If they’re different, it can indicate a card payment wasn’t entered in the EPOS system, or a payment on the EPOS system was erroneously declared as a card payment when in fact it had been made by cash or another method.
If you take cash, you’ll also have to count the till float (cash in the cash drawer), subtract the float sum at the beginning of the trading day, then you’ll have the complete cash takings of this day. Compare it to the Z report’s money total, and if it is the same, it means you’ve given the appropriate amount of change back to clients that day.
If it’s under or over the Z report complete, it counts as a discrepancy which ought to be said in your accounting.
In any case, it’s a business requirement to document sales in some type of accounting system. Today’s EPOS systems typically do this for you, as long as you have entered all transactions in the prior applications, including card, money and any other types of payments.
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