If you run a small business, chances are that you’re hearing a lot about POS systems. But what exactly is a POS cash register? Let’s take a deep dive and find out.
The Differences Between a Cash Register and POS Cash Register
There are traditional cash registers—the ones you may have grown up more familiar with—and POS cash registers. In theory, they may sound similar; in reality, they perform quite differently.
The similarities:
- Both record sales and make payments.
- Both operate on a setup including an electronic computer interface.
- Both calculate sales taxes.
- Both print sales reports.
However, a POS cash register, as the name suggests, links up to a point of sale system. This system offers many different functionalities and benefits you can’t get from a conventional cash register. It works through a specific type of software, but it certainly isn’t software alone. Some actually refer to POS systems as a hardware and software “combo”, with good reasons. On a very basic level, you can use a POS system with a cash register app and a connected device. This device could be an iPad, tablet, or phone, offering you a good bit of flexibility.
Basic differences between a cash register and POS cash register:
- POS systems not only manage sales, but maximize sales and cut costs. Cash registers simply manage sales.
- POS systems can also help you manage staff and business performance.
- Cash registers can be manual. POS cash registers, on the other hand, focus on automating inventory and sales tasks.
- POS cash registers can create invoices.
When you use a POS system, you’ll have the ability to offer your business—and your customers—touch screen cash registers no matter how large your business. In this day and age, that’s highly appealing. Not only is it easier on everyone involved—it’s also more aesthetically appealing, offering an updated aesthetic. Plus, it’s simply more convenient to use.
When to Use a POS Cash Register
It’s important to know when to select a POS cash register over a traditional cash register. The reality is that choosing the wrong option can cost you a lot of time and money. It could even cost your business sales, and that adds up over time.
Use a POS system when:
- You have a large inventory that requires extensive tracking and management. This applies to many retail businesses. If you’re running a vape store with a lot of different options, this cash register for small business could be the perfect option.
- You have a larger business with many different staff members. If a lot of your employees need to process payments simultaneously, these apps are super helpful.
- Alternately, you’re planning to scale your small business in the near future, which also means increasing your workforce. Prioritize an easy system that facilitates easy sales.
- You need multiple cash registers. If you need cash registers located in multiple places or need several serving points in one placed, a POS system is perfect. It syncs data automatically—no manual entry necessary!
Additionally, if you’re working within an industry that has strict regulation, using a POS system is quite helpful. For example, if you’re running a smoke shop, you may need to keep stricter records than those of the average business owner. A POS system automatically records data and can help you track sales. A traditional cash register really doesn’t do that.
FAQs
We know you probably have some lingering questions about POS cash registers. Don’t worry—Lifelong Merchant Services has answers.
How do I use a POS cash register?
Generally speaking, you may find variations depending on the specific software or the products you’re using. But you can expect these basic steps:
- Log in to the system.
- Select the item from a preexisting system or scan the item’s barcode.
- The POS system calculates the total for you, including any relevant taxes.
- Collect the payment. Some business owners choose to go cashless in this day and age, only accepting physical credit cards, customers’ digital wallets, or gift cards. If you do accept cash, your drawer will open and allow you to store cash and make change if necessary. If you prefer credit cards, your system comes with a synced card reader.
- Print or email the receipt.
What is a POS cash drawer?
Some business owners may choose hardware systems that don’t involve cash drawers—again, it really depends on whether or not you accept cash. However, if you do use a cash drawer, it’s simply a drawer underneath your register that holds not only cash, but credit card receipts and other important documents.
How do I set up a POS cash register?
Usually, the company through which you procure your POS cash register can walk you through setup. If you work with the right vendor, you won’t simply have to figure it out on your own; it will come with detailed instructions and a support system if you have any questions.
On a broad, practical scale, do this:
- Install the cash register in a convenient and effective location.
- Connect the register to your power supply.
- Configure the register and add receipt paper rolls.
- Unlock the drawer and turn on the register.
How common are these systems?
In this day and age, POS systems are becoming increasingly popular. As more and more businesses adopt this technology, the more necessary it is that you know what you’re doing.
A POS cash register is a super useful tool. But before you invest, you may want to learn more. Contact Lifelong Merchant Services today for a free demo and explore this new frontier at no charge. Moreover, our server-based software, called Lifelong OS, has a low monthly cost and resembles a cash register with a modern touch. Call us at (678) 201-0911.
