Most of the restaurants, retail outlets and others businesses use Point of Sale (POS) system for fast, easy and secure transactions for the convenience of both the customers and merchants. It is a computerized system used by merchants to track their business sales, cash flow, inventory, and for bookkeeping.
A POS system is both benefitting and profitable for businesses which handle high volume of cash and credit card payments. The system helps the merchant track sales and most systems also acts as credit card processors. This processing of credit cards allows better security for both customers and merchants. Users of the system are accountable for all their sales and security password is needed for any kind of alterations to reduce employee theft.
Setting up a Clover Station is necessary for Food & Beverages outlets to simplify communications between servers and the kitchen. The computer system sends the order directly to the kitchen printer to save time and energy. The system is able to track e.g. the most popular menu items, food usage, and sales, etc. The time clock of the POS system helps to manage the employees’ clocking in and out of shifts and it also prepares employees’ payroll, organize profit and loss statement plus the sales tax.
One important thing to remember is to have a backup system when using any computerized system. There is always the possibility of a computer system crashing when least expected. Do a backup at the end of each business day to avoid losing important data and statements.
Credit card readers are an essential part of any POS system and are designed to read information encoded in the magnetic stripe located on the back of the card. There are fixed options for stationery systems and mobile readers are also available.
Mobile credit card readers are best suited for employees to receive payments and orders from customers at their table without having to wait in line at the payment counter. These card readers can be purchased separately or you can benefit from free credit card machine given by service provider merchants or website.
Accepting credit card payments allows customers to spend more without having cash on them. This will help increase your sales and boost up your profit. Clearance for credit cards is faster than check payments to ensure smooth cash flow for your business.
Choosing the right credit card reader to suit your business type depends on your requirements. You can start your search by visiting Merchant Account Solutions website for the narrowed down list of models with description, features, specifications and prices provided.