POS System in Fashion Retail Shop

POS System in Fashion Retail Shop

 

POS software performs much better than inventory software. It records each sale from time to time and maintains the inventory records up to date. Moreover, you get complete details about the sale that is hard to collect manually. By using reports as per the information, it helps you in making better decisions regarding merchandising and ordering. The retail management software is an indispensable tool for small, medium and large sized businesses. It is flexible to purchase and can be installed as per your requirement and budget.

With fashion retail software:

·        You can find out sales data and find out how the items on the shelves sell. This way, you can adjust and purchase accordingly.

·        You can have a complete record of sales history so that you can make buying decisions as seasonal purchasing trends.

·        You can enhance pricing accuracy by adding credit card authorization and barcode scanners ability with POS system.

There are numerous types of POS systems easily available. You can add on various advanced devices at checkout points like invoice or receipt printers, credit card readers, barcode scanners, and electronic cash drawers. The POS software packages mostly come with associated connecting modules that include purchasing, accounts payable, accounts receivable, general ledger and also inventory control systems. In simple words, POS systems are all in one software that helps in keeping tracking of cash flow of the business.

Features in fashion retail software

Ease of use:

It is important to purchase software that is user-friendly. The graphical interface should be easy to understand and use. If the software is complicated, it takes a long time to learn and master the software. So, ensure it has a simple graphical interface and remains easy to use.

Entering sales information:

The majority of systems requests to add the inventory codes either automatically using barcode scanner or manually. If you have entered the code, the system would show the standard price or sales price.  You have to compute as per the quantities purchased and make a total. Most systems make the entry process manually where you have to find inventory codes according to the description, manufacturing code, vendor and merchandise number.

Pricing:

POS systems offer numerous ways to track pricing that includes percentage of cost, add-on amounts, custom formulas, and margin percentage. If you offer discounts, you can fix various prices for each product.

Updating product information:

If you have entered a sale, the POS system would automatically update accounts receivable and inventory records.

The POS system remains as a valuable asset to fashion stores as it helps in obtaining better control of business via reporting features. The sales data can be obtained in various ways which you can determine what products you have sold, at what time and find out what is present on the shelves. It also displays when promotions work best and lets you know when to fix seasonal promotions.

If you have any particular requirements, you can share the needs to the vendor and they would customize the POS software as per your business need.

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