Point of Sale (POS) Glossary
Voids are transactions that are reversed. If a sale needs to be canceled before it has settled, it can be voided. Voiding a transaction in a point of sale system will keep the transaction from confirming in a customer’s account, so it is unnecessary to issue a credit or refund. The sale may appear pending for a few days on their account until it drops off.
A POS system can be configured to determine when a sale must be voided or when the store should refund it instead. If the day’s sales have already been closed out, the sale would need to be voided. But if a transaction has not yet been sent to a processing company for confirmation, it can often be voided.
After a void, a robust point of sale system would reverse any items back into inventory and remove the sale from the day’s totals as if it had never occurred.
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.