Do you own a retail shop? If you do, I’m sure you know how hard it is to run a small business. Don’t you believe that there are too many things to deal with? In my opinion the most important thing when running a retail business is simply accounting. POS software – it’s something that any retail shop needs. The competition in this industry is very strong because of the wealth of options available. The truth is that not every provider offers services and tools that will help you get better organized and avoid losing money and time on scheduling and tracking your inventory and employees’ work hours.
In this review, I will be sharing with you some of the best point of sale systems in business.
Square Point of Sale: Best overall
- Starting monthly fee: $0.00
No starting fees
Free mobile reader
Our pick for the best POS system for small-business owners is Square. It’s free to start, easy to use, and chock-full of useful features. These benefits make Square a great choice for new business owners who need simple but powerful features from the get-go.
Square is a common favorite of mobile businesses like food trucks and boutique retail shops. In fact, we also picked Square as the best mobile POS system for small businesses. For an all-in-one system for taking payments wherever your customers are, pair the Square POS and mPOS systems together to give your business an extra boost.
Taking customer payments is easy with Square’s credit card readers and point-of-sale mobile app, which works with most Android and Apple devices; for example, many Square users run their businesses with iPads. You can create customized receipts to send via email or print from a receipt printer. Plus, you can keep open tabs, split checks, and manage your inventory in real time—all within Square’s point-of-sale software.StrengthsZero monthly cost for the basic plan
Software and hardware that’s easy to set up and use
Transparent transaction feesWeaknesses
Pricier transaction fees than some major processors
Higher fees for manual entry
Square provides detailed reporting and analytics and lets you send invoices, track employee shifts and timecards, and manage multiple locations. You can also run email marketing, customer loyalty plans, and gift card programs from Square’s point-of-sale software.
Now the downsides. Transaction fees with Square Point of Sale can be more expensive than what other POS providers are charging. The transaction costs can add up if you process loads of payments a day.
That said, Square POS doesn’t have a monthly fee, and the company keeps its transaction fees pretty simple (for the most part):
- Tapped, dipped, and swiped payments: 2.6% + $0.10
- Keyed-in and card-on-file payments: 3.5% + $0.15
- Square Register (purchased before 8/20/19) payments: 2.5% + $0.10
Square also offers other plans geared for certain types of businesses. With Square for Restaurants, for example, you get POS software that’s geared specifically for restaurant use. The plan costs $60 per month for each of your locations, plus an extra $40 per month for each additional POS system you use.
Square for Retail plans have the same monthly fees as the Square for Restaurants plan, but they come with discounted transaction fees (2.5% + $010 for in-person payments).
What’s nice about these additional plan types is that they are optional. So, if you want more functionality and features, it’s easy to add them to your POS at any time with Square.
Revel Systems: The best POS system for customer loyalty
Square Point of SaleRevel Systems
- Starting monthly fee: $99.00
$674.00 starting fees
No free mobile reader
Customer relationship management (CRM) tools can help turn passive, infrequent buyers into loyal advocates for your brand. One POS provider we looked at, Revel Systems, offers what we think is the best CRM service to come packaged with an iPad restaurant POS system.
The Revel Systems POS system was mostly created for bars, quick-service restaurants, coffee shops, and breweries. Food and beverage service businesses can benefit from Revel’s customizable loyalty programs.StrengthsCustomizable customer loyalty and management services
Tools built for food and beverage businesses
Loads of software integrationsWeaknesses
Nontransparent pricing
In addition, Revel Systems is built to speed up front-of-house order taking with its Mobile Order Taker system, which communicates seamlessly with stationary devices. And comprehensive inventory, analytic reports, and QuickBooks integration can help you understand your business and customers better.
Installation and onboarding of Revel’s POS system costs $674. After that, you’ll be paying $99 a month per terminal which is billed annually and requires a 3-year contract.
Revel does not list its processing fees, but we were able to get in contact with an agent who said the flat rate is 2.49% + 15¢ per transaction if you’re using Revel hardware. You can also use your own processor. If you have an existing processing fee statement, Revel says they are willing to provide a custom rate.
Runner-up: Toast
You should also consider demoing Toast, another restaurant POS system with food and beverage customers in mind. Toast’s integrated CRM software can help you build an inventory of loyal customers and craft messages and promotions to keep your guests happy and your business profitable.
Xero
Best for online retail businesses
With unlimited users, inventory management included in all plans and over 700 third-party integration options, Xero accounting is one of the best accounting software solutions for online retail businesses. A top alternative to QuickBooks Online, Xero offers many of the same features, with a few slight differences.
First and foremost, Xero includes unlimited users with all three of their plan options, as well as inventory management tools, among a full range of standard bookkeeping and accounting features.
Additionally, Xero’s three plans fall at a generally lower price point in comparison to QuickBooks Online, with the Early plan starting at $9 per month — although this plan limits the number of invoices, quotes, bills and transactions you can make on a monthly basis.
For $30 per month, however, you can opt for the Growing plan, which eliminates these restrictions (and is a similar monthly cost compared to QuickBooks Online).
Overall, Xero is a robust retail accounting software option, offering:
- Invoicing and quotes
- Inventory management
- Purchase order management
- Bill pay and management
- Reporting
- File storage
- Fixed asset management
- Sales tax calculations and management
- Contact management
- Payment acceptance and more.
Plus, like QuickBooks Online, Xero is a cloud-based software — meaning you can access your account anywhere with an internet connection. Moreover, Xero has a dedicated mobile app, a partnership with Gusto for payroll services and can connect to popular POS systems and ecommerce platforms, such as Square, Shopify, Lightspeed, BigCommerce, Magento, etc.
Item inventory tracking in Xero. Image source: Xero
All of this being said, with integrated inventory tools, a vast network of integrations and general affordability, Xero is a great accounting software choice for online retail businesses and is certainly worth considering for brick-and-mortar stores as well.
BEST FOR RESTAURANTSTouchBistro
TouchBistro supplies restaurateurs with cloud-based analytics to boost their food and beverage sales.Pros
- iPad POS system
- Integrated credit card processing
- Easy-to-use interface
Cons
- Must use mostly Apple products
- Customer support isn’t always responsive.
In business since 2010, TouchBistro offers software designed specifically for the restaurant industry. TouchBistro is our top pick for the best restaurant POS system with restaurant inventory management tools and restaurant-specific hardware.
TouchBistro POS software licenses start at $69 per month. With a TouchBistro system, you’ll get various tools and features to support your operations, such as:
- Intuitive touch controls for table management
- Remote menu management
- Add recipes to manage inventory costs
- Access data and reports via the cloud portal
You can add services to get more from your restaurant POS, which are available through TouchBistro, including:
- Reservations system for $229 per month
- Online ordering for $50 a month
- A gift card program for $25 per month
Choose your own hardware or buy from TouchBistro’s hardware partners for equipment such as:
- iPad
- Apple Mac Mini computer
- Apple TV
- AmpliFi MeshPoint HD
- Kitchen and thermal printers
- Cash drawers
- Networking hardware
- iPad stands
- Payment devices
TouchBistro integrates with many popular programs, including QuickBooks, Sage, and 7Shifts.
If you run into problems, TouchBistro provides plenty of self-service options. You can also contact them via email, chat, and 24/7 phone support.
BEST FOR RETAIL Vend
Trusted retail software that your employees will learn how to use in minutes.Pros
- No limits on products
- Works offline (Limited functions)
- Simple interface
Cons
- Lite plan has a $20,000 turnover limit
- Gets costly when adding registers
Founded in 2010, Vend is a reliable provider of POS systems that are easy to use and compatible with many equipment types. With advanced inventory management and analytics, Vend wins our best POS system for retail.
Vend offers three plans that cover one register and one location. All versions give you features that are easy to use and support your retail operations, such as:
- Real-time inventory management
- Unlimited products and employees
- Customizable receipts for email or print
- Total cash management
- Inventory control levels
- Easy-to-personalize reports
- A mobile dashboard
While the Lite plan has a monthly turnover limit of $20,000, the other programs are unlimited. It’ll cost you $49 a month for an extra register when paid yearly or $59 with monthly payments. Your plan options include:
- Lite: For $99 when paid annually or $119 for monthly payments, this version contains all standard features and small business analytics.
- Pro: It’s $129 per month when paid yearly, or $159 with monthly payments, for advanced reporting, e-commerce options, and gift card features.
- Enterprise: Call for a custom quote for an enterprise plan that offers a dedicated account manager and onboarding program.
You can choose from tons of hardware options or use your existing equipment. Vend offers bundles, and you can use Mac or Windows systems. This POS software integrates with nearly all credit card processing companies, along with top retail programs like:
- QuickBooks Online
- Xero
- WooCommerce
- BigCommerce
- Shopify
- Mailchimp
Get the customer service your retail store needs with Vend’s responsive support systems, including 24/7 online or in-app live chat support, email, phone center, plus a full knowledge base.
Zoho Books
Best for bundling retail accounting software with other business tools from the same provider
If you’re looking to bundle your retail accounting software with additional business tools from the same provider, you’ll want to look into Zoho Books.
On top of the Zoho Books accounting software, Zoho offers a range of products that can integrate seamlessly together — including Zoho Inventory, Expenses, Analytics, CRM and more.
In addition, Zoho Books is one of the most affordable business accounting solutions out there, with their highest level plan, Professional, priced at $29 per month. This being said, the Professional plan includes a vast feature set, such as:
- Invoices, bills and estimates
- Time and expense tracking
- Reporting, budgeting and banking
- Customizable workflows
- Vendor credits, purchase orders and sales orders
- Sales and purchase approval
- Inventory management
- Sales tax and 1099 tracking, and more.
It’s worth noting that although Zoho Books has two lower-level plans, many of the retail-specific features — inventory, sales orders, purchase orders, etc. — are only available with the Professional plan.
Purchase order management in Zoho Books. Image source: Zoho
With this in mind, Zoho Books also offers a mobile accounting app, multicurrency and multi-lingual accounting, as well as project management tools.
Compared to solutions like Xero and QuickBooks, on the other hand, Zoho Books is relatively light on their integration options — but makes up for some of this with their own vast suite of business products.
Therefore, if you’re looking for affordable accounting software that you can bundle with other tools for your small retail business (whether brick-and-mortar or online), Zoho Books may be the right solution for you.
Conclusion
Everyone has their favourite business software. That’s because your business is unique. It’s not unusual for differing businesses to have differing needs. One retail management software may be the perfect choice for the needs of one business, yet be completely unsuitable for another. So, is best you know which works well for you.