Key Concepts in Retail

The provided sources outline various aspects of configuring and using the iVendNext Point of Sale (POS) system. Here's a detailed explanation of the key concepts and terms.

Point of Sale (POS)

A Point of Sale (POS) is the central component for processing transactions between a buyer and a seller. It comprises both hardware (terminals, displays, receipt printers, barcode scanners, etc.) and software that work together to calculate prices, taxes, and fees, process payments, and issue receipts.

POS Opening Entry: 

This is the process of setting the initial cash balance for a POS terminal at the start of a business day. This includes specifying the opening amount (similar to an opening balance in accounting) and the currency denomination count, which details the quantity of each type of currency (bills and coins) in the drawer.

POS Closing Entry: 

This is done at the end of the day to reconcile transactions and determine the closing balance. It involves capturing details about the period, user, linked invoices, and modes of payment used during the day.

POS Terminal: 

The hardware used to process transactions. It's configured with a POS Profile that dictates its settings, including the interface profile (defining how the POS interacts with the system) and the number of cash drawers connected.

Active POS Terminal: 

The POS terminal currently in use for processing transactions.

Team: 

A group of employees who typically report to a common manager or supervisor, this can be useful for tracking sales performance by team.

POS Profile

A POS Profile contains all the settings specific to your POS system. It's accessible through the Retail Profile module on iVendNext and covers various aspects like:

General Information: 

Basic information about the POS, including name, store, company details.

Payment Methods: 

Mapping payment types (e.g., Cash, Credit Card) with tender types defined within the system.

Configuration: 

Additional settings that control POS behavior, like hiding unavailable items or validating stock on save.

Accounting: 

Settings related to financial aspects, including the change account and rounded total options.

Accounting Dimensions: 

Tagging transactions based on territory, branch, customer, etc. for detailed analysis.

iVendNext Retail Settings

iVendNext Retail Settings offer a wide array of options to customize POS behavior. Some notable settings include:

Tax Inclusive Pricing: 

Includes tax in the displayed product price.

Bypass Credit Limit Check: 

Disables credit limit checks at the POS.

Multiple Salesperson per Item: 

Allows assigning multiple salespersons to a transaction item.

Smart Search: 

Controls various scanning options (product, customer, transaction, etc.).

Reason Code Required: 

Prompts the cashier for a reason code when performing specific actions (void sale, item return, price override, etc.)

POS Interface Profile

A POS Interface Profile defines the graphical layout and user interface of the POS system. It determines the arrangement of buttons, menus, and data displays, ultimately shaping the user experience. Some of the key elements of the Interface Profile:

Interface Controls: 

Elements like buttons, input fields, and data grids used to build the interface.

Control Types: 

Different types of interface elements with specific functions (button pad control, input control, data grid control, etc.).

Operations Button Panel Group: 

A collection of buttons for quick access to common functions.

Caption Position and Style: 

Settings to control the placement, font, color, and background of captions for interface elements.

Controllers: 

Define POS Commands, Parameters, and Shortcut Keys for specific actions.

POS Interface Theme

A POS Interface Theme governs the visual presentation of the POS interface. It allows customization of:

Caption Details: 

Font, color, size, style, and background of captions.

Button Details: 

Type, background color, border color, and background image of buttons.

Hardware Profile

A Hardware Profile configures the peripherals connected to the POS terminal. This includes settings for:

Printers: 

Printer names, render width, and cash drawer attachment.

Pole Displays: 

Port, baud rate, data bits, messages, etc..

POS Terminal

The POS Terminal settings link the physical terminal to iVendNext. They include:

Name: 

A unique identifier for the terminal.

Company and Store: 

Association with the specific company and store location.

Hardware Profile: 

The hardware profile that defines the connected peripherals.

Payment Types

Payment Types (also referred to as Mode of Payment) define the various methods customers can use to pay for transactions. These include settings for:

Details: 

Name, description, type (Cash, Credit Card, etc.), and associated accounts.

Currency Denominations: 

Codes, descriptions, and values of different currency units.

Retail: 

Settings like minimum and maximum transaction amounts, counted options, receipt printing, and rounding methods.

Surcharges

Surcharges are additional fees applied to a transaction. iVendNext allows surcharges at both the Line Level (applied to specific items) and the Transaction Level (applied to the entire sale). Surcharges can be a Flat Amount or a Percentage of the price.

Reason Code Master

The Reason Code Master allows the creation and management of Reason Codes. These codes are used to provide explanations for specific POS actions. For example, a reason code might explain why a sale was voided or an item was returned.

Additional Concepts

Fulfillment Plans: 

Define different delivery or fulfillment options for customer orders.

POS Input Forms: 

Capture additional information during transactions, such as customer details or specific item attributes.

POS Commands and Parameters: 

Instructions used to execute various POS functions, with parameters providing additional information to modify command behavior.

Data Grid Controls: 

User interface elements that display data in a tabular format.

Input Controls: 

Fields used to capture user input, with various settings for input type, formatting, and behavior.

Information Controls: 

Mechanisms to manage and regulate the flow of information within the POS system.

Custom Display Controls: 

Customizable elements used to display information on customer-facing screens.

NumPad Controls: 

Numeric keypads used for inputting numerical data.

Document Titles: 

Customizable titles for documents within iVendNext.

Custom Fields: 

Adding user-defined fields to documents to capture additional data.

Field Types: 

Different types of data fields available for custom fields and standard fields.

Dynamic Link Fields: 

Fields that can link to any document type within the system.

Customizing Form Filters: 

Applying filters to control data displayed in link fields.

Form Customization: 

Modifying the layout and behavior of forms within iVendNext.

DocType Properties: 

Settings that define the characteristics and behavior of document types.

Fetching Data Between Documents: 

Mapping data between different documents based on field names.

Invoices

POS Invoice: 

A document that records the details of a sale made at a POS terminal. It includes information about the customer, items purchased, payment methods, taxes, and any applicable discounts or promotions.

Status Types: 

Indicate the current stage of a POS invoice.:

Draft: 

A saved but not yet finalized invoice.

Consolidated: 

An invoice that has been finalized and included in accounting records.

Series: 

A unique identifier assigned to a group of POS invoices, often used for organizational purposes.

Credit Note: 

Issued to a customer when goods are returned. It serves as proof of the return and reduces the customer's outstanding balance.

Dimensional Accounting: 

A method that allows for tagging transactions with additional information (dimensions), such as branch, business unit, or project. This provides more granular reporting and analysis capabilities without creating complex charts of accounts.

Cost Center: 

A department or unit within a company where costs are incurred. They are used for tracking expenses and budgeting purposes.

Project: 

In business terms, a project represents a temporary endeavor undertaken to create a unique product, service, or result.

Customer PO Details: 

Information related to the customer's purchase order, including the purchase order number and date.

Price List: 

A list that defines the selling prices for different items. It may be used to apply specific pricing to different customers or customer groups.

Pricing Rules: 

Automated rules that modify prices based on specific conditions, such as quantity purchased, customer loyalty status, or promotions.

Source Warehouse: 

The warehouse from which items are shipped to fulfill a POS order.

Update Stock: 

A setting that determines whether the inventory levels are automatically adjusted after a POS transaction.

Drop Shipping: 

A fulfillment model where the retailer doesn't keep goods in stock but instead transfers customer orders and shipment details to a supplier, who then ships the goods directly to the customer.

Deferred Revenue: 

Revenue that is recognized over time as services are delivered or goods are consumed, even though payment may have been received upfront.

Batch No and Serial No: 

Used to track specific groups (batches) or individual units (serialized) of inventory.

Item Tax Template: 

A predefined template that applies the correct tax rates to specific items.

Timesheet: 

Used to record employee working hours, often for billing purposes on projects.

Taxes and Charges: 

Additional fees added to the price of an item, such as sales tax or shipping charges.

Shipping Rule: 

Determines the shipping cost for an order, often based on factors like destination, weight, and shipping method.

Loyalty Points Redemption: 

Allows customers to use accumulated loyalty points to discount their purchases.

Additional Discount: 

Further reductions applied to an invoice's total amount, often in the form of a percentage or a fixed amount.

Coupon Code: 

A code customers can use to unlock promotions or discounts.

Advance Payment Entry: 

A record of a payment received from a customer before goods or services are delivered.

Payment Terms: 

The agreed-upon conditions for payment between a buyer and seller, including due dates and accepted payment methods.

Write Off: 

The cancellation of a portion of a customer's debt, usually for small discrepancies.

Terms and Conditions: 

The legal agreements between a buyer and a seller.

Transporter Information: 

Details about the company responsible for transporting goods, including the transporter name, driver name, distance, mode of transport, and other relevant information for shipping.

Letterhead: 

The company's official stationery, often used for printing invoices and other documents.

Campaign: 

A marketing initiative aimed at promoting a specific product or service.

Lead Source: 

The origin from which a customer inquiry or lead is generated.

Opening Entry: 

An accounting entry made to bring an account's balance up to date, often used when migrating from one system to another.

Remarks: 

Additional notes or comments added to a document, such as a sales invoice.

Commission: 

A fee paid to a salesperson or sales partner for facilitating a sale.

Sales Team: 

The group of individuals responsible for selling a company's products or services.

First Expiring First Out (FEFO): 

An inventory management method that prioritizes selling items with the shortest remaining shelf life first.

POS Invoice Consolidation: 

The process of combining multiple POS invoices from a session into a single accounting entry.

Payment Processing

Mode of Payment: 

The method by which a customer pays for a transaction, such as cash, credit card, gift certificate, or mobile payment.

Currency Denomination: 

The different values of banknotes and coins used in a currency system.

Payment Processor: 

A company that facilitates electronic payment transactions.

Elavon and Moneris: 

Examples of payment processors that integrate with POS systems to enable credit and debit card payments.

Default Account: 

A predefined account in the accounting system where payments for a particular mode of payment are typically recorded.

Payment Entry: 

A record in the accounting system that indicates a payment has been made against an invoice.

Counted: 

Indicates whether a till count is mandatory for a specific mode of payment.

Till Count: 

The process of counting the cash in a cash drawer to reconcile it with the expected amount based on transactions.

Count Type: 

Specifies the type of count to be performed (e.g., summary count).

Payment Receipt Format: 

Determines the layout and information included on the printed payment receipt.

Rounding Method: 

Dictates how to handle fractional amounts in transactions (rounding up or down).

Over Tender: 

Occurs when a customer pays more than the total amount due.

Tipple Point: 

The upper limit for the amount of cash that should be held in a cash drawer.

M-Pesa: 

A mobile phone-based money transfer service popular in some regions.

Full Payment: 

A payment that covers the entire amount due for a transaction.

Partial Payment: 

A payment made towards a portion of the total amount due.

Gift Cards

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Gift Card: 

A prepaid stored-value card that can be used to make purchases at a particular store or group of stores.

System Generated and User Defined Gift Cards: 

Refer to how gift card numbers are generated. System-generated cards typically have automatically generated numbers, while user-defined cards allow for manual assignment of numbers.

Store Credit: 

A credit issued to a customer's account that can be used for future purchases at the store.

Cashback: 

A reward program where a percentage of the purchase amount is returned to the customer as credit.

Gift Card Recharge: 

The process of adding more value to an existing gift card.

Expired Gift Cards: 

Gift cards that have passed their validity date and can no longer be used.

Loyalty Programs

Loyalty Program: 

A marketing program designed to reward customers for repeat business.

Loyalty Setup: 

The configuration of a loyalty program, including defining levels, earning rules, redemption options, and other settings.

Loyalty Level: 

A tier within a loyalty program that offers different benefits based on customer spending or engagement.

Loyalty Plan: 

The specific rules and conditions for earning and redeeming loyalty points or rewards.

Points-Based Loyalty Program: 

A system where customers earn points for purchases that they can later redeem for rewards.

Tiered Loyalty Program: 

A program with multiple levels where customers unlock greater benefits as they move up to higher tiers based on their spending.

Paid Membership Loyalty Program: 

A program where customers pay a fee to join and receive exclusive benefits.

Value-Based Loyalty Program: 

A program that aligns with a company's values or social responsibility initiatives.

Registration Level: 

The initial level assigned to a customer when they enroll in a loyalty program.

Conflict Resolution Method: 

Determines how to handle points or rewards when a customer qualifies for multiple loyalty offers.

Award Settings: 

Define how points are awarded, including whether tax is included and if points are awarded for specific payment types.

Points Expiry Override: 

Allows managers to extend the expiration date of loyalty points under certain conditions.

Special Days: 

Designated days that offer bonus points or rewards to loyalty members.

Email/SMS Notification Settings: 

Control how and when customers receive notifications about their loyalty program activity.

Referral Setup: 

Configures the rules for rewarding customers who refer new members to the loyalty program.

Loyalty Journal Entry: 

A record of each transaction that affects a customer's loyalty points balance, including earning points, redeeming points, and points expiring.