2. One of the most vital steps in setting up a small
business is to choose the right cash register.
Easy as it sounds, people do not always make
the right choices by their business. The most
important question is the choice between
whether to buy a cash register or a point-of-
sale system. Ultimately, the answer is
dependent on many factors. Firstly, how much
are you willing to spend, secondly what are
your business requirements.
3. Choosing an expensive POS system worth
thousands of dollars would not seem like a
wise choice if your business is only trading
small and would take days or weeks before you
get your money back. On the other hand,
buying a small cash register for a business
trading hundreds of transactions a day would of
course result in unhappy waiting times, and
decreased employee job satisfactions. That
being said, the business may expect quick
growth, thus needing a more advanced POS
system.
4. Here are a few questions to ask yourself when you are
deciding on a cash register:
1. How many departments do you have in your
store? Departments may be categorised into
individual products or a group of products you
may sell in the same price point.
2. What is your total inventory level? Do you have
tens or hundreds of units or each of your
products? And do you need a way to keep track
of them more easily?
3. How many departments will you need in the
future? Are you planning to grow your business
further in the short-term? If so, you may need a
more advanced system to avoid having to obtain
a new POS system later on.
5. 4. Will you need more than one cash register?
5. What tax structure will your business operate on?
6. Will you be accept coupons or does your business
include membership benefits for your customers?
7. What type of payment methods will your business
be accepting?
For new business owners and new entrepreneurs,
remember to keep your decisions making objective.
New businesses always involve a certain level of
emotions, so make sure your decisions are based
on the benefits of the business.
6. Benefits of POS systems:
1. More detailed reports.
2. Better track inventory.
3. Improved accuracy.
4. Easily grow with business.
Benefits of Cash Register
1. Low cost for startups
2. Most models easy to use.
3. Fewer components.
4. Basic functions and reporting.