What Is Point Of Sale ?

A Point of Sale can be a time or place where a merchant and customer agrees to a trading transaction.  This could be for exchange of goods or services.  In the business world, there is usually a need to document that this business transaction has taken place.  Usually there is an invoice prepared for the customer.  After a customer has paid for the product or service, a receipt is given to the customer as documentation of payment received.  For the business, all these documentation of transactions have to be collected, compiled and retained for business reporting purposes to the Government Taxation Authority as well as to shareholders of the business.

Such administrative tasks used to take up a lot of manual efforts, handwriting invoices and receipts, tallying payment collected, filing receipts etc.

Fortunately, IT systems called Point Of Sales (POS) Systems, have been developed to automate and improve the efficiency of performing these activities.