The Point of Sale (POS) refers to the area of a store where customers can pay for their purchases. The term is normally used to describe systems that record financial transactions. This could be an electric cash register or an integrated computer system which records the data that comprises a business transaction for the sale of goods or services.
A POS System is the hardware and software used to record the financial transactions of a retail store.
It is the best tool for a store owner to manage and assess her business. While the POS system can be as simple as free software that runs on any PC or an online based system like Quickbooks or Square to a fully integrated system with mobile POS capabilities like the Apple stores, the key is the data that the POS system generates for you to run a profitable business.