![]() ![]() It lets cashiers and clerks enter information about the products being purchased. The hardware acts as an interface between the merchant and the point of sale software. It might also come in the form of a tablet or smartphone, like you might see if you buy something from a boutique or food truck. This could take the form of a specialized terminal, like you see at a grocery store. The hardware for a point of sale system is the physical device or devices you use to conduct a sale. Each of these parts plays a vital role in helping your business take in money for the goods or services you provide. Point of sale hardware and point of sale software. In order to get the best idea of how these systems work, it’s important to understand that there are two main parts. But a modern point of sale system does much more than simply act as a cash register. Businesses use point of sale, or POS, systems to conduct transactions with customers in their stores. ![]() What is a Point of Sale System?Ī point of sale system is a combination of hardware and software. Finally, we’ll provide you with the questions you need to ask to get the best point of sale system. We’ll also help you answer the question of whether or not you need a point of sale system for your business. #Point of sales system investopedia softwareWe’ll look at the hardware and the software that go into making these systems work. This article covers the basics of what a point of sale system is. Instead of using cash registers, modern businesses use point of sale systems. However, there’s one important difference. In the past, businesses used cash registers to check out customers. However, to do business in person, they need to be able to accept electronic payments. These businesses may or may not operate online. In fact, there’s been a resurgence of brick-and-mortar small businesses that deal in specialty products and services. Online sales enable people to have access to goods and services that would otherwise be unavailable to them.īut that doesn’t mean that people don’t shop in brick-and-mortar stores anymore. A lot of the buzz in modern business publications focuses on online sales. the rate allowed on computers, and observed that depreciation on POS should be allowed at the rate of 60%.Businesses operate by taking in payment and rendering goods and services. BSES Rajdhani Powers Ltd., wherein the Hon’ble Delhi Court had held that the depreciation on computer peripherals should be 60%, i.e. The court placed reliance on the case of CIT v. ![]() Computers including computer software (“Computer software” means any computer program recorded on any disc, tape, perforated media or other information storage device.), depreciation 60% of written down value shall be allowed.” So, as stated in New Appendix – I (rule 5) of Income Tax Rules, “5. Further, the POS machines supported data transmission and sharing through LAN and had two USB ports.Thus, the POS machines were similar to that of the computers. The POS had a process 64 mb memory and also supported MS-DOS and Micro Soft Windows. “An electronic machine by means of stored instruction and information performs rapid, often complex calculation or complies, co-relates and selects data” “Computer means any electronic magnetic, optical or any other high speed data processing device or system which performs logical and arithmetic and memory function by manipulation of magnetic or optical impulses, and include input-output processing, storage, computer, software or communication facilities which are connected or related to the computer in a computer system or computer network.”Īlso to the definition as in New Webster Dictionary as:. The bench referred to the definition of the term ‘computer’ as occurring in Section 2(1)(i) of the Information Technology Act, 2000, which reads – M/s Cannaught Plaza, the bench was concerned with the depreciation that should be allowed on Point of Sales System (hereinafter referred as POS). In a judgment delivered by ITAT, Delhi in ACIT v. ![]()
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