What Does POS Stand For?

If you are a merchant, you have probably come across the term POS before.What is POS, and how does it help your business?

POS stands for "Point of Sale." This is the system that your business uses to take money from your customer and provide them with a receipt.Almost all POS systems are computerized for accuracy and convenience.

Essential Parts of a POS System

If you are in the market for a new Point of Sale system, you need to know what the basic parts are.

Keep in mind that you can buy your POS system as a bundle, with software included, or you can put together your own system by buying the parts separately.

POS Computer - The computer is the most important part of the system.Some Point of Sale computers are like PCs that run POS software that you load onto them.Others come with a software program and do not operate like a regular computer.

Cash Drawer - The cash drawer is where you will keep any money, checks, or credit card receipts that you receive.It is connected to the POS computer and will only open when the computer sends it the proper signal.This helps protect you from theft.

POS Monitor - The monitor allows you to see what you are inputting into the Point of Sale computer.Many POS monitors are touch-screen enabled, which allows them to be the input device, eliminating the need for a keyboard.

Scanner - The scanner allows you to scan the barcode on the merchandise you are selling.Some scanners are hand held, while others are imbedded into the Point of Sale device.The scanner is technically an optional item, since UPC codes can be entered by hand, but using a POS system efficiently without one is almost impossible.

Receipt Printer - The receipt printer is connected to the POS system to allow you to quickly print off a receipt for your customer.In many systems the receipt printer also prints the receipt that the customer signs when paying via credit card.

Optional POS Components

There are other components of a Point of Sale system that you may or may not need.

If you do need them, they may not seem optional to you, but these are the items that some merchants can do without and still run an efficient store.

Credit Card Terminal/Signature Capture Device - If you intend to take credit cards, you will need a way to read them.Your Point of Sale system may have a built in credit card reading option, but if it does not you will need a credit card terminal.You will also need a pin pad to allow your customer to input PIN numbers and sometimes an electronic signature.

Keyboard and Mouse - If you do not have a touch screen on your system, you will need a keyboard and possibly a mouse to input information into your system.These can be specific for your type of store or a traditional PC keyboard.

Customer Pole Display - Customers like to see that their order is being rung up correctly.If they are not going to be able to see the monitor in your setup, consider investing in a customer pole display that shows them a summary of what is being imputed into the system.You may not need this if your pin pad shows a summary of what is being done with the order.

These are the basic components of a Point of Sale system, not including the software.As you build your new store, consider which of these parts will be the most helpful.Build a POS system that will be convenient, easy to understand, and efficient.This will ensure that you can complete as many transactions as possible each day.

About the Author

North America's leading offline and online payment processor for debit and credit card processing offering merchant account services, and payments gateway.

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The Power of Having a Vision - Part One

For many years I heard that you had to start with a vision for your business or your life if you really wanted to succeed, but no one could explain to me why it was needed or how it worked from a practical or scientific standpoint.

When I was young and naive, I was skeptical and wanted empirical evidence showing me why I should invest my thoughts and time into really thinking about a vision for my life and business, and why getting absolutely clear by writing it down was imperative to my achieving success.

At the ripe young age of 21, I got into business at a very young age. For the next 26 years, I stayed on a healthy mental diet to train my brain, and followed the belief of allowing the universe to guide me and bring me whatever I needed to fulfill my visions of being financially free and living an extraordinary life.

After building four multi-million dollar businesses - one of which grosses more than $5 billion a year in sales - and having made millions of dollars for myself and others, I began to search for the answers to the question I'd had 25 years earlier - Why is having a clear and precise vision so important?

Since I wanted more for myself, I sought out the best minds, researchers, and teachers in the world to teach me how to have an abundant life in all areas.

So, what did I learn that you can apply immediately and benefit from my lessons?

Simple: without a clear and precise vision of exactly what it is you want, you'll never reach it or have it.

Now of course I will not leave you hanging without understanding why.
My research has taken me into the world of quantum physics and neuroscience for the answer to the question "why is it so important to start with a vision?"

Let's start with the world of quantum physics. First and foremost, quantum physics is the study of how the very small world, one we cannot see with our eyes, operates. Since we live in two worlds - one that we can see - and one that we cannot, it's important for us to know what these two worlds offer us. Scientifically we now know that even though we cannot see any connection, both worlds are totally interconnected at every level.

Newtonian physics helps us understand how to navigate the known physical world, and quantum physics helps us to understand the very intelligent non-physical world in which everything is connected to everything else, and from which and all known physical "things" are manifested.

What we've discovered in this new realm of quantum research is that whatever we focus on and emotionalize often, is what we will attract and actually see in the quantum field of all possibilities, or better yet, probabilities.

As weird as this may sound, this is now being proven without a shadow of a doubt. What this means is that the more clearly focused we are on exactly what we want, the easier and faster we'll manifest everything we need to make it a physical reality.

Since all material things move from the non-physical to the physical reality, our vision and goals are paramount in the process of achievement. Our vision and focus acts like a magnet that attracts and connects the pieces together.

Another thing to keep in mind is that the universe operates by natural laws, exact precision, and perfect order. Our vision, then, must also be precise and exact in our mind in order for whatever we need to be attracted and shown to us by the intelligent forces that govern all of creation. When we focus our brain on what we want, we actually increase the amplitude of the cellular vibration and cause the "attraction" factor to really take shape.

Just like a magnifying glass can focus the sun's rays and create a fire, focusing on our vision and goals keeps you in the right vibration and attraction field.

When we choose a vision or goal that is bigger than our current reality, we are in essence creating a gap or a vacuum between what we want and where we currently are. We know from natural law that nature fills a void or gap in the fastest and most efficient ways possible.

This article is adapted from The Answer, by John Assaraf and Murray Smith (Atria Books), and reprinted with the permission of the authors.


About the Author

John Assaraf and Murray Smith co-wrote The Answer: Grow Any Business, Achieve Financial Freedom, and Live an Extraordinary Life. Assaraf is a New York Times best selling author, and featured in The Secret. Murray is known for corporate turn around work, most notably for taking the Indian Motorcycle trademark from bankruptcy into a $300 million company. For more on The Answer and the authors, visit: Read The Answer.

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