12 Dec
As the owner of a retail shop, selecting the proper cash register is a crucial decision that will impact your business in the future. And yet, for many entrepreneurs and small business owners, this choice is made hastily or without properly weighing the various factors. However, choosing the wrong register can lead to inefficiency, loss of profits, and customer frustrations down the road. Therefore, it is important to carefully evaluate your options and select a register that best fits your specific needs, budget, and vision for your company.
What is a cash register?
A cash register, also known as a point-of-sale (POS) system, is an electronic device that records cash transactions in a retail setting. Most basic cash registers have a screen to display the total, a slot to insert cash, and buttons to operate it. More advanced cash registers come with additional features like integrated barcode scanners, credit card readers, and inventory management capability. All cash registers allow you to ring up sales, process payments, and print receipts for customers in a simple and organized manner.
Also Read: Cash Register vs. Point of Sale System
Essential features of a small business cash register
As any small business owner knows, the cash register is one of the most important tools of trade. While the needs of different businesses may vary, there are a few basic yet essential features that a small business cash register should have.
Easy-to-use touchscreen interface
In today’s digital age, customers expect a seamless experience whether shopping online or in person. Therefore, a cash register must have an intuitive touchscreen interface that allows items to be scanned or entered with ease. An old-school cash drawer with buttons and a screen may get the job done but won’t provide the best customer experience.
Inventory management system
While transactions per hour are important, truly understanding what sells and what doesn’t is key to optimizing profits. A cash register should be able to keep track of inventory levels in real-time and generate reports on best-selling items. This not only helps with re-ordering but also deciding on floor layout and marketing efforts.
Also Read: Retail Inventory Method
Payment processing options
Rather than limiting customers to cash and checks only, a versatile payment system is a must-have. Whether it’s debit and credit cards, EBT cards, or mobile wallets like Apple Pay – a cash register needs to accept them all smoothly. It also needs to securely transmit payment information to minimize security risks.
Integrated software modules
A full-fledged business management software integrated with the cash register can take operations to the next level. Features like employee tracking, age verification, emails and texts, discounts/coupons, gift cards, etc help save time and streamline processes.
What are the types of small business cash registers?
There are now more options than ever for what type of cash register for retail stores to choose from. Let’s explore some of the main varieties currently available.
Traditional Cash Registers
The classic cash register remains a popular choice. While it may not offer all the bells and whistles of newer models, the traditional register is reliable, simple to use, and built to last. It prints paper receipts and handles cash transactions with ease. For many small retailers, restaurants, and shops, the traditional cash register still fits the bill. And because they have been around for decades, used models can often be found for cheap.
All-in-One Cash Drawer and Printer Units
An increasingly common option is the all-in-one cash drawer printer combo. These compact devices combine a bill and coin compartment along with a built-in receipt printer, giving small stores a complete point-of-sale station in one box. They have touchscreens for easy processing of credit cards as well as cash payments. While more expensive initially, these streamlined registers save space and reduce clutter compared to separate components. Many also integrate easily with common retail management software.
Mobile and App-Based Registers
Another alternative, and one that has taken off recently, is mobile point-of-sale systems that run on tablets or smartphones. Using downloadable apps, business owners can accept payments and record sales directly from a mobile device. This provides maximum flexibility, as transactions can be made from almost anywhere. However, some shopkeepers complain the touchscreens on phones are small and complain the interfaces on apps can be unintuitive and difficult to learn, especially for those not tech-savvy. Battery life is also a concern. But for certain types of businesses, mobility is a big advantage, especially with cash registers using iPads.
How to choose a cash register for your business?
There are so many options out there and it’s not always clear which features are most important. However, fear not – with a little research and consideration of your specific needs, selecting the right cash register is very doable. Here are the key factors to weigh when making your decision:
Ease of use
You’ll be using this cash register day in and day out, so you want the best cash register for your small business that is intuitive and that your employees can easily learn. Look for large buttons, straightforward menus, and minimal training requirements. Complicated systems become more hassle than they’re worth.
Durability
Consider how much use the register will get. Busy restaurants require a robust model that can withstand constant transactions. Touchscreen models may not hold up as well to frequent use as machines with physical buttons. Durability also ties into maintenance costs – will the manufacturer cover repairs?
Features
Think about your current and future needs. Do you just need basic cash/credit functionality or would features like inventory tracking, customer loyalty programs, or gift cards be useful? Tablet-based all-in-one POS cash registers for small businesses provide the most flexibility but at a higher upfront cost.
Software
Point-of-sale software is what powers most modern registers. Make sure the software is fully featured for example look for cash registers with scanners for small businesses, easy for employees to learn, and can integrate with your accounting software. Cloud-based options may be better than in-store servers. Consider upgrade policies too.
Training & support
Look for manufacturers that provide onboard training, online tutorials, and customer support. You want to know your questions will be answered quickly if issues arise. Some charge extra for ongoing support, so factor that into your budget.
Price
Cash registers vary widely in cost depending on size, features, and brand. Determine your budget and whether you’d prefer a one-time purchase or ongoing subscription cost of the cash register. Cheap models may lack important capabilities or durability in the long run.
Mobility
If your business entails serving customers away from the traditional counter, consider mobile options like handheld card readers or all-in-one tablets.
Thorough consideration of both present and future business requirements, combined with reviews from peers on real-world use cases, will lead you to the right point-of-sale partner. In that light, we recommend checking out Hana Retail, the best POS system for small retail that could be the right fit for your needs. Our simple, powerful, and adaptable solution works for businesses of all sizes.
