Point of Sale (POS) Glossary
Net sales are the revenue a company makes from selling items. Net sales are calculated by taking the total sales (gross sales) and subtracting returns, allowances (damaged goods, expiration, loss, etc.), and discounts. It is the total sales price of the items minus their cost to the business.
Net sales is a critical component to calculating a company’s profit, however, overall profit must consider other operating costs, including advertising, labor, utilities, real estate, and more. A company’s actual profit must reflect the overhead and cost of facilitating sales.
A robust point of sale system can track all of the data needed to calculate net sales. Using POS analytics and reporting, it is much easier to get a reliable picture of a company’s net sales and overall profits.
An eCommerce website is open 24/7 and accessible from all over the world. Being online and having physical store opens your business to a global market.
You’ve probably been at the register at the grocery store and asked if you wanted to contribute money to a charity as you checked out. Maybe you donated, or perhaps you found it was annoying. It might have depended on your mood that day, or possibly the charity was a deciding factor.