QuickBooks Point of Sale: An Introduction
QuickBooks Point of Sale (POS) is a viable software option for small business owners who would like to move beyond the traditional cash register, but who may not be in the market for an elaborate point of sale system. For businesses who may already use QuickBooks Pro or another version of QuickBooks accounting software, QuickBooks Point of Sale can be easily used alongside it.
The main benefits of QuickBooks POS are:
Better inventory management
More efficient reporting for better management decisions
Get to know your customers and their preferences
Speed up customer transactions
QuickBooks Point of Sale allows small business owners to enter inventory items into the software program, including the name, descriptive details such as color, size, brand, as well as an image. The software program can track the quantity of items in stock, and automatically update the inventory levels when an item is sold.
QuickBooks POS can be set up with reorder reminders or automatic purchase orders when inventory drops to a certain level so that you can be sure to always have popular items on hand.
Since QuickBooks POS can track both the your order cost and selling price for items, it is easy to keep track of profits and loss. Reports can easily be generated to give business owners a snapshot of their inventory and store performance.
QuickBooks Point of Sale also features customer reports with purchase history so that you can get to know your customers’ habits and needs. Point of Sale Pro offers a personalized rewards programs that makes it easy to show appreciation for loyal customers.
Finally, QuickBooks Point of Sale speeds up day-to-day tasks such as bookkeeping and ringing up sales. A compatible barcode scanner will provide even more efficiency.
Lynne Kloss, owner of a bookshop and gift boutique in Florida, made the switch to Intuit QuickBooks Point of Sale in 2006. She experienced considerable savings of both time and money, especially in terms of accounting and inventory. Customer service also improved with more efficient transactions.
Along with Intuit QuickBooks Point of Sale Basic, Lynne added a credit and debit card reader, receipt printer, cash drawer, and bar code scanner , as well as Intuit QuickBooks Point of Sale Merchant Service.
Kloss states, “QuickBooks Point of Sale is a phenomenal tool for merchants. It really is. It captures everything: your sales, profits, losses, cash balances, inventory, receipts… I can’t imagine what else a merchant would want it to do.”
See the full case study here.
Another example of a successful QuickBooks POS installation is with the Everglades Association in Florida. In 2010, Jim Sutton, Executive Director, and Nikki Gomez, Business Manager, realized keeping up with eight stores was no longer reasonable without a point of sale system. The cash registers did not track inventory, report stock levels, determine sales tax, or reconcile voids, returns, etc.
“We had two people working on this for 40 to 60 hours a month, not including all the time they spent traveling to each store, and one of our stores can only be reached by boat,” added Sutton. “An 8 hour boat ride – each way!” says Sutton. In spite of all the man hours put in, frequent stock-outs were a frequent problem, and ordering was often a guessing game.
The Everglades Association turned to the Mendelson Consulting Team for a solution, which was to install QuickBooks Point of Sale in all eight locations. This allowed each store to ring up sales efficiently, manage inventory, and easily access data from each store. Mendelson Consulting also installed Intuit QuickBooks Enterprise Solutions for complete accounting capabilities, and provided QuickBooks support.
“It’s been amazing. I can instantly see what’s selling, what’s not and how much inventory I have in each store with just a few clicks,” said Gomez. “Instead of trying to decipher what happened, I can now plan for the business and be ahead of the curve.”
Read the full case study here.
To learn more about QuickBooks Point of Sale, QuickBooks Pro, or QuickBooks Support, visit www.intuit.com.
To find a POS Reseller in your area, click here.