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Why get a point-of-sale terminal?

A point-of-sale system, though not mandatory is a great way to manage and monitor inventory.
By Cecilia Gonzalez |

A point-of-sale system, though not mandatory, is a great way to manage and monitor your inventory.

So you want to put up a business?  One way to make things easier for any business is to put up a point-of-sale (POS) terminal, which is basically a computerized replacement for a cash register.



The POS, a system put in place by the Bureau of Internal Revenue (BIR), is not mandatory but is encouraged, says former BIR Commissioner Joel Tan-Torres in an interview with Entrepreneur
Philippines.  “If you want to make your transactions transparent, the POS is necessary,” says Tan-Torres, adding that it is especially useful to record and track customer orders, process credit and debit cards and manage inventory.

The process for securing a POS is a bit tedious but it is necessary for business owners who cannot be in their place of business 24/7, Tan-Torres says.   A POS makes it easier for owners to monitor their operations without necessarily being in their establishments the whole time. 

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According to an information sheet provided by the BIR, the POS terminal has as its core a personal computer, which is provided with application-specific programs and devices for the particular environment it will serve.

There are different POS systems, depending on the business. “A POS system for a restaurant, for example, is likely to have all menu items stored in a database that can be queried for information in a number of ways. POS terminals are used in most industries that have a point of sale such as a service desk, including restaurants, lodging,  entertainment, and museums,” guidelines from the BIR say.

Increasingly, POS terminals are also Web-enabled, which makes remote training and operation possible, as well as  inventory tracking across geographically dispersed locations.



Getting a POS

The first step in applying for a POS is to get in touch with the BIR Revenue District Office that has jurisdiction over your main business. Accomplish the so-called BIR Form 1907, or Application for Permit to Use Cash Register Machine/Point of Sale
Machine.

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