4 Reasons A Point Of Sale System Is The Best Choice For Your Small Business

  • By creekmoremarketing
  • 31 Jul, 2015

Decades ago, the “ring ring!” of the cash register signaled robust sales and a happy shopkeeper. Small business owners still love a busy cash register, but   our increased reliance on technology   may bring more headaches than joy. Sales go unrecorded, recorded inventory doesn’t match what’s actually in stock, and it’s tricky to accurately record cash flow. Switching to a point of sale system saves time, reduces accounting errors and permits sophisticated analyses of sales data.

What Is a Point of Sale System?

Technically, the “point of sale” is the location and moment at which a sale takes place. In today’s business parlance, a point of sale system includes a digital replacement for traditional cash registers. Rather than reconciling cash register sales figures with inventory using a manual system, point of sales technology allows real-time tracking and analysis of sales. At the moment a sale is made, the system records the sale and deducts the item from existing inventory. Point of sales systems are highly flexible and work in numerous business environments, from   Web-based businesses   to small brick-and-mortar outfits and restaurants.

Benefits of a Point of Sale System

As a small business owner, your time is too valuable to waste taking inventory or correcting errors made by your sales staff. Investing in a point of sale system can help you streamline workflow and grow your business.

Improve Pricing Accuracy and Promotions

With a point of sale system, you can easily run a promotion on specific items and identify goods that qualify for an advertised discount. It ensures your sales staff gets the promotion correct every time. You can also include additional pricing information, such as percentage of cost, margin percentage or custom values. This more sophisticated pricing information enables you to run new promotions and monitor the relationship between pricing and sales. This markdown management is one of the most valuable functions of a point of sale system, according to Entrepreneur.

No More Inventory Crises

With a point of sale system, inventory lists are automatically changed as items are sold or returned. This allows your sales staff to know exactly how many of an item are in stock. For many systems, you can set up automated alerts to let you know if inventory runs low.

Integrate Sales with Payroll and Accounting

Between your accounting software, sales information and payroll management, you’re swarming with programs that don’t play well together. Investing in a point of sales system brings your most important business information together. Many systems can track expenses, monitor customer preferences, and analyze sales data. For example, integrating your system with   Intuit payroll   allows you to track employee hours, calculate payroll taxes and factor in bonuses based on sales commission.

Check in Anytime

Perhaps you’re taking a much-needed vacation or hopping a plane to meet with a potential investor, but you still want to stay up-to-date about what’s happening on the home front. A point of sale system enables you to maintain control by monitoring sales figures and promotions when you’re gone. Plus, because your employees know you’re watching, they’re less likely to behave badly while you’re away.

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By Robbi Meisel 14 Jun, 2016

LEXINGTON, Ky. – In anticipation of the many business opportunities that could stem from the construction of a new federal prison in Roxana, the Kentucky Small Business Development Center, in partnership with Letcher County Fiscal Court, is sponsoring When Opportunity Knocks, a luncheon and resource fair from 11 a.m. to 1 p.m. EDT June 22 at the Pine Mountain Grill in Whitesburg.

During lunch, local business owners will share how they answered the knock of opportunity and found success. The event is free and seating is limited; preregistration is required. Reservations can be made online at http://tinyurl.com/j9rdjtf .

At the event, organizers will discuss a three-part series of training events. Series topics will include general business and government contracting. The first event will take place 6 p.m. Tuesday, July 12 at the Whitesburg campus of Southeast Kentucky Community and Technical College. Training will also take place at 6 p.m. July 26 and August 9. Prior to each training event, a resource fair will begin at 4 p.m.

For more information, visit http://www.ksbdc.org/moving-forward-letcher-county or email Shawn Rogers at movingforwardletcher@ksbdc.org .

KSBDC, part of the University of Kentucky College of Agriculture, Food and Environment, is a network of 13 offices located throughout the state. The center helps existing and start-up businesses succeed by offering high quality, in-depth and hands-on services. KSBDC is a partner program with the U.S. Small Business Administration. For more information on KSBDC services, visit their website, http://www.ksbdc.org/ .

Other partners include: Kentucky Small Business Development Centers at Pikeville and Ashland, Southeast Small Business Development Center, Small Business Administration, Southeast Kentucky Community and Technical College, Kentucky Procurement Technical Assistance Center, Southeast Kentucky Economic Development, Kentucky Highlands Investment Corporation, Mountain Association for Community Economic Development, Kentucky Innovation Network – Pikeville , Kentucky River Area Development District, Eastern Kentucky Concentrated Employment Program, Federation of Appalachian Housing Enterprises Inc. and Kentucky Finance and Administration Cabinet – Minority and Women Business Enterprise Certification.

By Robbi Meisel 06 May, 2016

LEXINGTON, Ky., (May 3, 2016) - Kentucky’s finest small businesses and the small-business community were celebrated in the Capitol Rotunda in Frankfort during Kentucky Celebrates Small Business, an awards ceremony presented by the Kentucky Small Business Development Center and the Kentucky District Office of the U.S. Small Business Administration May 3.

Gov. Matt Bevin opened the awards ceremony by signing a proclamation recognizing National Small Business Week in the state.

"The vibrant entrepreneurial spirit in the commonwealth is a fundamental force driving Kentucky's economy and creating valuable jobs for our communities," Bevin said. "I understand, from personal experience, the sacrifice it takes for small business owners to survive. Every day they strive anew to secure a better life for their customers, their employees, their families and themselves. I am grateful to these men and women across Kentucky for taking the risk necessary to succeed."

WLEX-18 chief meteorologist Bill Meck served as emcee, along with his wife, Connie, whose small business, Sign Language Network of Kentucky, provided sign language interpretation for the event.

The Kentucky Small Business Development Center presented Kentucky Pacesetter awards to six businesses. Winners were chosen based on how they are changing Kentucky’s economic landscape by introducing innovative products, increasing sales and/or production, boosting employment and serving their communities.

This year’s outstanding Kentucky Pacesetters are D&D Shoe Company, Mayfield; Ingram Brothers, LLC, Morgantown; JSB Industrial Solutions, Inc., Tollesboro; Maynard Studios, Inc., Lawrenceburg; Trunnell’s Farm Market & Family Fun Acre, Utica; Flavorman and Distilled Spirits Epicenter, Louisville.

“We owe so much to the small businesses across the commonwealth that make our economy strong and diverse. It is a pleasure to recognize them and say thank you,” said Becky Naugle, KSBDC state director.

Each year, the U.S. Small Business Administration recognizes outstanding small businesses and entrepreneurs with awards across the country. The Small Business Person of the Year winner from each state will be acknowledged at both regional and national levels.

The 2016 Kentucky Small Business Administration award winners are:

Kentucky Small Business Person of the Year: David Dafoe, founder and CEO of Flavorman and Distilled Spirits Epicenter, Louisville

Kentucky Southeast Region 8(a) Graduate of the Year: Kathy Mills, president and CEO of Strategic Communications, Louisville

Kentucky Financial Services Advocate of the Year: Bill Fensterer, president and CEO of Capital Access Corporation, Louisville

Kentucky Minority-Owned Small Business of the Year: Harsha Wijesiri, president of Integrated Engineering, LLC, Lexington

Kentucky Veteran-Owned Small Business of the Year: Scott Matheny, president of Semper Tek, Lexington

Kentucky Woman-Owned Small Business of the Year: Desiree Sloan Harmon, founder and owner of Club Fit Studio, LLC, Paintsville

“The creative genius that drives our commonwealth forward lives in the minds of our entrepreneurs. This year we are honoring entrepreneurs from the far corners of Kentucky. We are deeply grateful for what they have done to sustain the economic vitality of large and small communities,” said Ralph Ross, district director of the Kentucky office of the U.S. Small Business Administration. “We are also grateful for our local, state and federal partners who work with us to help these entrepreneurs along their way.”

The Kentucky Small Business Development Center, part of the University of Kentucky College of Agriculture, Food and Environment, is a network of 13 offices located throughout the state. The center helps existing and start-up businesses succeed by offering high quality, in-depth and hands-on services. KSBDC is a partner program with the U.S. Small Business Administration. More information on KSBDC services can be found on their website, http://www.ksbdc.org/ .


Writer: Roberta Meisel, 859-257-0104


UK College of Agriculture, Food and Environment, through its land-grant mission, reaches across the commonwealth with teaching, research and extension to enhance the lives of Kentuckians.




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