Account Hold

A temporary pause on a customer’s account, preventing new purchases until outstanding issues, such as overdue payments, are resolved.

Authorization Code

A unique code provided by the bank or payment processor that confirms the approval of a credit or debit card transaction.

Back Office

The administrative area of a business where internal operations like inventory management, accounting, and HR are handled.

Barcode Scanner

A device used to read barcodes for product identification and price lookup, often used in inventory management and at the point of sale (POS).

Batch Processing

A system of processing multiple transactions together in a group or batch, often used to improve efficiency in payment processing.

Bill Splitting

A feature that allows customers to divide the total bill into multiple payments, often used in restaurants or group purchases.

Card Reader

A device used to read and process debit and credit cards for transactions at the point of sale.

Cash Drawer

A compartment attached to the POS system that stores cash, coins, and receipts from transactions, usually linked to open when a sale is made.

Cloud POS

A point-of-sale system hosted in the cloud, allowing businesses to process transactions and access data from anywhere with an internet connection.

Contactless Payment

A method of payment where customers use NFC-enabled cards or mobile devices to make payments without physically swiping or inserting the card.

Counter Display

A display at the checkout counter showing transaction details to the customer, helping them verify the total and payment method.

Credit Card Authorization

The process of verifying that a customer has sufficient funds or credit to complete a purchase using a credit card.

Credit Memo

A document issued to a customer to reduce the amount owed on a previous invoice, often due to returns or billing errors.

Customer Display

A screen that shows the transaction amount, items purchased, and other details to the customer at the point of sale.

Customer Loyalty Program

A system that rewards customers for frequent purchases, typically tracked through the POS system to offer discounts or points on future purchases.

Customer Order Management

The process of tracking and managing customer orders from placement to fulfillment, often integrated with the POS system for accuracy.

Daily Sales Report

A summary of all sales made during the day, including total revenue, payment methods, and sales tax collected, generated by the POS system.

Data Encryption

A security measure that protects sensitive information, such as payment data, by converting it into a code that cannot be easily accessed or understood.

Discount Code

A code provided to customers to apply a discount at the point of sale, often tracked and managed through the POS system.

E-commerce Integration

The process of connecting online sales platforms with in-store POS systems to provide a unified view of sales, inventory, and customer data.

Electronic Cash Register

A digital version of a cash register that records sales, manages inventory, and processes payments electronically.

Employee Management

A feature within POS systems that helps track employee hours, sales performance, and shift scheduling.

End-of-Day Report

A report generated at the end of the business day that summarizes all sales, refunds, and payment methods processed.

E-receipt

A digital receipt sent to the customer’s email or mobile device instead of printing a paper receipt.

Exchange Policy

The terms under which a business allows customers to return or exchange purchased items, often managed through the POS system.

Gift Card

A prepaid card issued by a retailer, redeemable for purchases at the issuing business, often tracked and processed through the POS.

Hardware Integration

The connection of POS software with hardware devices such as barcode scanners, receipt printers, and card readers to streamline transactions.

Hold Sale

A feature that allows the POS system to temporarily save a transaction so it can be completed later, often used when a customer needs more time.

House Account

An account created for regular customers or clients to allow purchases on credit, with payments settled at a later date.

Invoice Printing

The ability to generate and print invoices directly from the POS system for customers who require formal billing.

Itemized Receipt

A receipt that lists each purchased item along with its price, quantity, and applicable taxes, generated by the POS system.

Layaway

A purchasing option that allows customers to reserve an item by making a deposit, with the balance paid over time before the item is received.

Loyalty Card

A card issued to customers as part of a loyalty program, allowing them to accumulate points or discounts on future purchases.

Loyalty Point

Rewards earned by customers for repeated purchases, encouraging customer retention and brand loyalty.

Magstripe Reader

A device used to read the magnetic stripe on credit and debit cards, often attached to the POS terminal for payment processing.

Mobile POS

A point-of-sale system that operates on mobile devices, such as smartphones or tablets, enabling businesses to process transactions anywhere.

Multi-location POS

A POS system that allows businesses with multiple locations to manage sales, inventory, and customer data across all stores from a single platform.

Multi-Store Management

A feature in POS systems that helps businesses with multiple locations track inventory, sales, and employee performance across all stores.

Near Field Communication (NFC)

A technology that enables contactless payments by allowing a smartphone or card to communicate with a POS terminal through close proximity.

Net Sales

The total revenue generated from sales after returns, discounts, and allowances have been subtracted.

No Sale

A POS function that allows the cash drawer to be opened without recording a sale, often used for administrative purposes like cash reconciliation.

Omnichannel POS

A POS system that integrates sales from multiple channels, such as in-store, online, and mobile, to provide a unified customer experience.

Online POS

A point-of-sale system that operates over the internet, allowing businesses to process sales and access data from any location.

Order Tracking

The process of monitoring the progress of customer orders from placement to delivery, often integrated with the POS for accuracy.

Over-the-Counter Sale

A transaction completed in person at a retail store or business location, as opposed to online or remote sales.

Payment Processing

The handling of transactions between customers and businesses, including the authorization, capture, and settlement of payments.

Payment Terminal

A device used to process electronic payments, such as credit and debit card transactions, at the point of sale.

PIN Entry Device

A terminal or keypad used by customers to enter their personal identification number (PIN) during a card transaction.

Point of Purchase (POP)

The place where a customer completes a transaction, typically the checkout area in a store, often linked to marketing materials to encourage additional sales.

POS (Point of Sale)

The location where sales transactions are completed, typically involving a system for processing payments, managing inventory, and generating receipts.

POS as a Service (PaaS)

A subscription-based model where businesses pay for access to a cloud-based POS system without needing to purchase hardware or software upfront.

POS Integration

The process of connecting a POS system with other business tools, such as accounting software or inventory management systems, to streamline operations.

POS Receipt

A printed or electronic document generated by the POS system, detailing the items purchased, payment method, and total amount paid.

POS Report

A report generated by the POS system that provides data on sales, transactions, inventory levels, and other business metrics.

Price Override

A function in POS systems that allows an authorized user to manually change the price of an item during a transaction, often for promotions or discounts.

Product Code

A unique identifier, such as a SKU or barcode, used to track products in the inventory system, often scanned at the point of sale.

Purchase History

A record of all past purchases made by a customer, often stored in the POS system to help businesses track buying patterns and preferences.

QR Code Payments

A payment method where customers scan a QR code with their mobile device to complete a transaction, often linked to a digital wallet or banking app.

Quick Service POS

A POS system designed for fast-paced environments, such as fast food restaurants or cafes, where quick order processing is essential.

Receipt Printer

A device connected to the POS system that prints paper receipts for customers at the point of sale.

Refund

A return of money to a customer, often processed through the POS system when an item is returned or a service is canceled.

Register Closure

The process of closing the cash register at the end of a shift or business day, including counting cash and reconciling transactions.

Remote POS Access

A feature that allows business owners or managers to access the POS system from a remote location to monitor sales, inventory, and other data.

Retail POS

A POS system specifically designed for retail businesses to handle sales, track inventory, and process payments.

Return Processing

The steps involved in accepting a returned item from a customer and issuing a refund or store credit, often managed through the POS system.

Revenue Reconciliation

The process of comparing sales records in the POS system with actual cash and card payments to ensure accuracy and resolve discrepancies.

Sales Audit

A review of sales transactions to verify accuracy, often done by comparing POS records with bank deposits and financial reports.

Sales Report

A detailed summary of all sales transactions for a specific period, including total revenue, discounts, and taxes, generated by the POS system.

Scanner

A device used to read barcodes or QR codes to quickly identify products and update inventory at the point of sale.

Screened Transaction

A transaction that has been reviewed for potential fraud or security issues, often using encryption or other verification methods.

Security Code

A code used to verify the authenticity of a credit or debit card during a transaction, often the CVV or CVC code on the back of the card.

Self-Checkout

A system where customers can scan and pay for items themselves without the assistance of a cashier, often found in retail stores.

Shift Management

A feature in POS systems that helps businesses schedule employee shifts and track hours worked, often integrated with timekeeping functions.

Signature Capture

A digital method of capturing a customer’s signature during a card transaction, often used for verification and record-keeping.

Split Payment

A payment method that allows customers to divide the total bill between multiple payment methods, such as cash and card or multiple cards.

Stock Reconciliation

The process of comparing actual physical inventory with the inventory recorded in the POS system to identify discrepancies and adjust stock levels.

Store Credit

A credit issued to a customer, allowing them to make future purchases at the store, often given as an alternative to a cash refund.

Store Management

The process of overseeing daily operations in a retail store, including sales, inventory, and employee management, often managed through the POS system.

Surcharges

Additional fees added to the transaction total, such as credit card processing fees or service charges, often managed through the POS system.

Table Management

A feature in POS systems used in restaurants to assign, track, and manage customer orders by table, helping with seating and service efficiency.

Tablet POS

A POS system that operates on a tablet device, offering portability and flexibility for processing transactions anywhere in the store.

Tax Calculation

A feature in POS systems that automatically calculates the applicable sales tax based on the location and type of goods or services sold.

Tax Rate Setup

The process of configuring tax rates in the POS system to ensure the correct sales tax is applied to transactions.

Tax Reporting

The process of generating reports on sales tax collected during transactions, used for tax filing and compliance.

Terminal ID

A unique identification number assigned to a POS terminal, used to track transactions processed through that specific device.

Tip Adjustments

A feature in POS systems that allows employees to enter or adjust the tip amount after a transaction is processed, often used in restaurants.

Tokenization

A security process where sensitive payment data, such as credit card numbers, is replaced with a unique identifier (token) to protect against fraud.

Touchscreen POS

A POS system that uses a touchscreen display for processing transactions, often seen in retail and hospitality environments.

Track Sales

Monitoring and recording the sale of products or services, vital for sales analysis and reporting.

Transaction Code

A unique identifier assigned to each transaction in the POS system, used for tracking and auditing purposes.

Unified POS System

A POS system that integrates multiple sales channels, such as in-store, online, and mobile, to provide a seamless shopping experience.

User Permissions

A feature in POS systems that allows administrators to control which functions employees can access based on their role, enhancing security.

Void Transaction

A canceled transaction that has been reversed before the payment is processed, often due to errors in the sale or customer cancellation.

Voucher Redemption

The process of accepting and applying vouchers or coupons during a transaction, often managed through the POS system.

Wireless POS

A portable point-of-sale system that connects wirelessly to the network, allowing transactions to be processed from anywhere in the store or venue.

Zero-Balance Transaction

A transaction where the amount owed is reduced to zero, often due to discounts, store credit, or promotional offers.

Z-Report

A summary report generated by the POS system at the end of the day or shift, showing total sales, returns, and other transaction details.