Definition

Point of Sale (POS)

By the term POS (Point of sale) means a business place (retail shop/store) where sales or retail transactions are made. And the process may be completed by checkout, preparing invoice, issuing printed receipt etc.

There is a POS system that is  the combination of hardware and software which allows merchants to make sales or transactions. Other systems like Customer relationship management (CRM), Inventory Management System, Accounts System are also integrated with POS system.

Share it:  Cite

More from this Section

  • Fiat money
    Fiat money is the paper currency decreed by a government as legal tender but not convertible ...
  • Preemptive right
    Preemptive right is a shareholder’s right to purchase shares of a company’s new stock ...
  • Labour Extraction
    Labour Extraction is most employees under capitalism are paid according to the time they ...
  • Actual growth
    Actual growth is the final actual result of growth in the Harrod-Domar model ...
  • Divisional organizational structure
    Structure in which set of relatively autonomous units, or divisions, are governed by a ...