The transactional process of paying for goods and services has changed radically over the last couple decades. Not that long ago, cash registers and tellers were the only point of sale system in existence. Tellers had to manually enter each product cost, total the sale, take the money, place it in the cash drawer, then hand the customer a paper receipt. The only transaction record a business would have would be their own copy of the paper till roll.
Point of sale systems evolved with computerization and eventually stored product price data on the register itself or on an attached computer. Newer POS systems included a barcode reader, which eliminated the need for manual price entry, and transaction details were stored electronically. Transactional processes have become ever more sophisticated over the last dozen years. Modern POS systems now integrate with other electronic systems and databases, which means that a day’s transactions can be immediately reconciled with accounting and inventory management systems. Add in mPOS (mobile point of sale) and businesses now have…
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