POS systems and taxes

Taxes and POS Systems

Taxes and POS systems play well together.  Well, the ones from QUORiON anyway.  Now that tax season has come and gone (in the USA), we have a useful reminder for our USA based merchants.  In case you ever face a tax audit, your QUORiON POS system will play a vital role.  It keeps track of all your sales transactions.  Enjoy your peace of mind.  Your QUORiON POS system has the correct figures all year long.  From the moment you’ve set-up your system and begin sales transactions, the POS system does all the work for you.  It records revenue in real-time.  A good point-of-sale (“POS”) system is critical for any business engaged in sales to the public. Having one in place goes a long way to ensuring that you report revenue and profits properly to federal, state, and local tax authorities.

So now you have everything in one place.  Great.  But there’s more.  You can also track how much you are spending on inventory items throughout the year.  For small businesses it’s critical to track your Cost of Goods Sold.

Federal Tax Law

As a reminder, the willful failure to completely and accurately report all income is a felony under federal law.  Section 7201 of the Internal Revenue Code (“IRC”) states that “any person who willfully attempts … to evade or defeat any tax … [is] guilty of a felony and, upon conviction thereof, shall be fined not more than $100,000 ($500,000 in the case of a corporation), or imprisoned not more than 5 years, or both, together with the costs of prosecution.

HOW QUORiON POS Systems Help with Taxes

Managing taxes can be time-consuming, complex, and confusing. Your QUORiON POS system calculates the tax for you, providing simple tax management and therefore saving you time. It will help you reduce errors, too.

Your QUORiON POS system will help you…

    • make your business more cost-focused
    • save time
    • improve your relationships with customers
    • make your business more flexible
    • record vital inventory and revenue data

Yes, taxes and POS systems – everybody knows the situation, when a tax consultant knocks on your door and asks for a copy of a specific Z Report weeks or months back. With QUORiON´s QMP2000 cash registers and QTouch POS systems you can reprint copies of 2 kinds of user reports directly onto a frond end device.

For further details and how to get the update, contact your local QUORiON reseller today!

Guest Check Floating

Guest Check Floating, Floating Clerks, Floating PLUs

Guest Check Floating, Floating Clerks, Floating PLUs??  So, what is the deal with point of sale systems and the “floating functions” folks keep talking about?

Well, floating just means that all POS systems in a network have real-time access to certain information.  They can share guest checks in restaurants, open receipts, and new PLUs/articles.  This grants you substantial flexibility in how you run your operation.

Here are the specifics…

Let’s begin with Floating Tables…

This is also known as Guest Check Floating, which allows POS terminals to automatically transfer all customer sales data to all other POS terminal in your network – basically different locations such as tables, bar, or terrace.  There’s no need for staff to return to the same POS terminal or even open up a new sales ticket every time a customer moves from table to terrace.

Then we have Floating Clerks…

This feature really consists of 2 parts known as Smooth Terminal Change and Smooth Operator Change. It ensure automatic clerk change and transfer of all active sales data per customer at any POS terminal in your network.  Yep, you heard right.  In a bakery, for example, it facilitates direct POS access at all the different service areas such as bread sales, cake sections, and my favorite –  the delectable goodies area.  Staff continues serving clients simultaneously without interruption at any terminal. They simply swap to their open receipts at a touch of a button or a magnetic key.  Pretty cool, huh?

Lastly, there are Floating PLUs

Newly created/changed sales items, also known as PLUs, automatically pass from one POS terminal to all the others you have networked locally.  The clerk only needs to add it once.

Now that’s what I call efficient!

…and BTW, all these “floating functions” work with QUORiON cash registers and POS systems.  All you really need is a LAN interface to network your POS terminals.

For more information on QUORiON point of sale products, please visit the link above today.

Free Point of Sale

7 Ways to Reduce Fraud with POS Systems

For small businesses the steps taken to reduce fraud with POS systems are crucial in their sustainability.  Fraud presents a particular threat to profitability and remains a legitimate problem.  According to the Association of Certified Fraud Examiners via its yearly Report to the Nations, the average business loses roughly 5 percent of its yearly revenues to fraud.  Moreover, smaller companies are more likely to experience fraud than large ones.  In the past two years nearly 30 percent of reported fraud cases occurred at companies with fewer than 100 employees, according to the Association of Fraud Examiners (ACFE) 2014 Report to the Nations.  The financial perspective is not much better.  In fact, when small businesses experience fraud, they may be hit much harder and have greater difficulty absorbing these losses.  Organizations with fewer than 100 employees had a median loss of $154,000.  The two most basic types of fraud are misappropriation of assets (i.e. cash, inventory, etc) by employees and fraudulent financial reporting.

Here are some great features that help your reduce fraud with POS systems plus maintain tight control of your business and cost.

  1. Unique Logins via login ID or Dallas key – Login users, clerks, managers with different keys, passwords, and privileges
  2. Cash control – Access to the cash drawer can be limited to those with security privileges only.  Also tracks cash in- and outflows for daily reconciliation as well as starting balances.
  3. Time and attendance function records logins – Check when your staff logs in to begin their shift. Know exactly when someone was on duty.
  4. Variance reporting via EJournalView – Utilize the software to analyze and check your sales transactions.
  5. Stock control including ingredients via QProg – Automatically keep track of inventory and set up automatic deductions of ingredients from stock
  6. Linked CCTV via virtual journal printer – Maintain a watchful eye over every activity at the POS system with closed circuit television (CCTV)
  7. POS linked liquor control – Set-up the GRUBER SCHANKANLAGE or USC SPIRIT 2000/4000 systems to keep a tab on your beverage volume and cost.