Point of Sale (POS) Glossary
A purchase order is a request from a merchant sent to a supplier. Vendors may be wholesalers, factories, or other resellers. Purchase orders may contain many variables that include terms, items, quantities, shipping information, purchase order number, and costs.
Once accepted, a PO may be considered a legally binding contract in some states. However, POs may include contingencies for either party to cancel. After a purchase order has been delivered, the supplier will often issue an invoice and reference the original purchase order number.
An advanced point of sale system can automate purchase orders, making it much easier for the merchant. Some POS systems also handle check-in of merchandise as it is received from a vendor, which helps cases items from a shipment are missing due to error or non-availability.
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.