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March 2014 • www.CPAPracticeAdvisor.com 5 REVIEWS: POINT OF SALE SYSTEMS 2014 Review of Point of Sale Systems By Mary Girsch-Bock A s o f t h e e n d o f 2013, there were o v e r 5 m i l l i o n r e t a i l a n d f o o d s e r v i c e s b u s i - nesses operating in the U.S. W hile all of them are not in the market for a point of sale (POS) system, many are looking to upgrade their current system, or perhaps migrate f rom their cash register system to a POS system. Te fact is that even small retailers can reap the benefts of a POS system, which not only processes sales, but a l s o t r a c k s i n v e n t o r y, t r a c k s employee time and produces excel- lent sales reports. Most large retailers already utilize a completely integrated POS system. Go into a large chain drugstore, and the pharmacy can access your pre- scription whether you're in Chicago or Los Angeles. But in 2014, many small to mid-sized retailers are con- sidering moving beyond their reli- able cash register system and don't know where to begin. So where does a retailer start when looking for a point of sale system? Just like there there is a variety of types of retail businesses, there are also a lot of POS systems on the market, with some geared for smaller markets looking to automate for the frst time, while others are designed for larger retail businesses that pro- cess thousands of transactions each day. View the full reviews of the fol- lowing programs: • CAM Commerce - Retail Star • Cougar Mountain - Denali Point of Sale • Intuit - QuickBooks Point of Sale Some of these products are best suited for single-location retailers or food service businesses; others can easily handle multiple locations and multiple inventor y warehouses. Some are designed spe- cif ical ly for br ick and mortar retailers exclu- sively, while others easily i n te g r a te t h o s e s a m e stores w ith an e-com- merce solution, a neces- sity as more retailers begin to expand their online presence. More retailers are looking at of fering customer loyalty cards as well, which would necessitate purchasing a system that supports that option. Of course the needs of your retail clients will differ, perhaps a little, perhaps a lot. Either way, you're likely to fnd the following reviews helpful as you sort through all of the ava i labl e o p t i o ns to f i n d a P OS product that will suit their business. In the POS review, we look at key sofware features. In basic system f unctions, we take a long look at product functionality and the avail- ability of features. • Is the product easy to use? • Can it be up and running fairly quick ly? • Can cashiers customize the POS user interface? • A re t here add it iona l modu les y ou c a n p u r c h a s e , o r i s i t a n all-in-one-system? We also look at specialized fea- tures such as: • Does it work w ith touch screen monitors or do you need to use a standard keyboard to navigate the system? • Can cashiers process more than one transaction t y pe at a time (e.g. sales, layaway)? • Can the retailer use loyalt y or rewards programs? • Can customer data be tracked for marketing purposes? Reporting is also a key piece of a ny P O S s y s te m , s o w e l o o k at reporting options available including inventory reports, customer demo- graphics, POS reports, and whether there is a good audit trail system in place. Integration issues such as whether the product integrates with key modules or other third party sofware is looked at as is whether t h e r e a r e i n t e g r a t e d s h i p p i n g options; a must for those w ith a vibrant mail order business. Finally, we look at one of the most important aspects of a POS system, and that is Help and Support func- tions such as whether there are built in suppor t f unct ions, automat ic systems updates, and perhaps most importantly, live product support opt ions – w hich are key i f your system locks up during the busiest part of the day. W hile the products we are looking at in this point of sale review ofer a wide range of features and functionality, the fnal decision rests between you and your client. Looking at the reviews is a great place to start. ● REVIEW SECTIONS BASIC SYSTEM FUNCTIONS • Installation Ease • General Navigation & Ease of Use • Industry-Specifc Templates • Industry-Specifc Features • Platform Support CORE ACCOUNTING CAPABILITIES • GL/AP/AR Functionality • Sales Tax Functionality • Payroll Functionality • Audit Trail • Multi-Currency • Multiple Language Support • Multi-Location Support • Multiple Users DAY-TO-DAY OPERATIONS • Sales/Point-of-sale/Shipping • Customer/Vendor Employee Management • Inventory/Purchasing • e-Features • Remote Access MANAGEMENT FEATURES • Dashboard Overviews • Reporting • Security Features • Integration/Import/Export • Data Transfer • External Integration • Online Accountant Transfer Tool HELP/SUPPORT • Built-in Support Features • System Updates • Support Website/Documentation • U.S.-Based Support Mary Girsch-Bock Mary began her career as an accountant in the property management industry, later moving into the healthcare industry. She is now a feelance writer specializing in business and technology issues and is the author of her frst book, several HR handbooks, training manuals, and other in-house publications. She can be reached at mary.girschbock@cpapracticeadvisor.com . READ THE FULL REVIEWS ONLINE AT: WWW.CPAPRACTICEADVISOR.COM/11321628 cpa_5-7_POS Review.indd 5 3/24/14 10:45 AM