I have a friend who owns a store who consistently bemoans the fact that her inventory does not match her manual records.  She’s always in a state of inquiry wondering how such discrepancies occur.  It is with her in mind, that I dedicate this portion of cyber space as I briefly write about Casio POS.

These integrated registers, such as the Casio TK-1550 and TE-1500 models, offer several advantages:

*All sales are recorded as they occur in real time and inventory levels are identified.  The receiving and inventory module on the Casio POS should save countless hours trying to find why the sale/remaining inventory numbers are not matching up.

*An automated system will enable retails to better track and manage items that are marked down or special promotions that are taking place for a limited duration of time.  This is especially important if one owns multiple stores and an all-encompassing point of sale device ensures consistency of pricing. 

*They are capable of generating various types of reports and other important data for accountants and bookkeepers from one source such as: check sales, daily cash sales, credit card sales, and taxes, etc. This allows retailers to gather all of their documents from one source which should cut down on invoices by their bookkeepers.

*They also offer one point of contact for the cash register service as well as processing support.

*The registers come with a lifetime warranty

*State-of-the-art Casio Pos fall in place with the new Visa/MasterCard regulations that come into effect in July 2010 (PCI DSS). This means that many current card terminals on the market will no longer be compliant. However, Casio registers are fully compliant with the new regulations.

*Credit card and check processing capability.  Will separate credit card terminals soon become obsolete?

While there are other good POS cash registers on the market, it seems that Casio has done a fine job of coming up with dependable systems for both the retail and restaurant industries. This could be because their restaurant register is made to withstand various liquid spills and food particles that are often found in dining establishments.

The retail POS cash registers are also just as popular because of functions and features such as customizable department keys and an integrated credit card module that has credit, debit, and EBT capabilities.

Retailers can also customize the register’s keypad layout by using an online wizard. This will allow them to choose from a designed default layout or to customize each key, department, etc. The high-speed units also come with built-in, drop and load thermal printers, large memories, heavy-duty drawers, and large LCD displays.

Due to the aforementioned advantages of the system, and my incessant encouragement, my computer-phobic friend is now close to obtaining a Casio POS.  (We just happen to have one for $79 per year.)

When it comes to running a retail business, all merchants need some form of cash management system to process their sales. The two most common methods are good old electronic cash registers and the slightly more-complex, computerized point of sale retail systems, which are typically known as POS.

While some merchants prefer your handy dandy cash register, others swear by POS systems. If you’re new to the business world, this will be something you’ll have to decide upon. Both systems have their benefits and advantages, but it’s a good idea to see which one meets your specific business needs.

Many new business owners simply choose the least-expensive option, but it’s worth doing a bit of research and looking into both systems a bit deeper than just the price. You need an effective system, and while it may cost more at the start, it may actually save you money in the long run.

The average retail POS system can cost anywhere from about $1,500 up to $20,000. The price will often depend on the amount of hardware that’s added to the system. A cash register typically costs between $200 and $800. Again, the more advanced units will cost more. However, you can always upgrade if need be.

Cash Registers

Cash registers are relatively inexpensive at start up, can process customer transactions quickly and keep accurate sales records. They’re also pretty durable with most models lasting about 10 to 15 years. However, they may need upgrades after approximately five to seven years of use. Most of them are also easy to use as they have fewer components

If you’re considering a cash register, you should think about the type of business you run and what features and functions you might need. Some things that should be taken into consideration include: the tax your business collects on a sale, the amount of products you sell and will sell, the acceptance of coupons, and how you process refunds.

You also need to calculate how many registers you’ll need and what forms of payment you accept.

POS Systems

Some retailers prefer POS systems because of the advantages they possess over cash registers. This includes the following: more detailed reports, better track inventory and accuracy, and the ability to grow with business.

You also need to consider the type of warranty and support that cash registers and POS systems come with and how to train your staff on the equipment. It never hurts to ask an experienced merchant for advice on the type of unit to use.

Once you decide on the type of system to employ, you can begin searching for one. If you’d like to save a bit of money you can check the classifieds in local newspapers, magazines, and websites, to find a good deal on a second-hand unit. You may be able to buy one from a company that’s holding a going-out-of-business sale or you could lease a system.  (I’m not an advocate of leasing but it may be the only viable option for some cash-strapped merchants.) 

If you decide on a POS system or a standard cash register, there are a few brands that stand out. The Casio name often draws a lot of positive attention from retailers who use them, and that’s quite a few as Casio sells approximately 85,000 units a year.

The brand is especially popular with merchants as it offers integrated electronic cash registers that are equipped with credit card processing technology. This translates into more room on your countertop as stand-alone credit card terminals are no longer needed and are slowly becoming obsolete in the retail environment.

I will provide more information about the Casio POS systems in my next blog entry.  Stay tuned.