Of the 1.4 million small business retailers in the United States, 80 percent use rudimentary tools such as calculators and electronic cash registers to manage their businesses1. With these retailers in mind, Intuit Inc. (NASDAQ:INTU) today launched QuickBooks® Point of Sale Solution for Retailers, a complete and affordable PC-based point of sale (POS) offering that helps give small business retailers the same levels of insight and control over sales, inventory and customers as large superstores and department chains.
The QuickBooks Point of Sale solution consists of software and standard hardware tools, including a bar code scanner, magnetic stripe reader, cash drawer and receipt printer. QuickBooks Point of Sale software also can be purchased as a stand-alone product. The products deliver on Intuit's Right for My Business strategy, offering industry-specific solutions that meet the unique needs of retailers.
Nearly two-thirds of small business retailers have considered switching to a PC-based POS system, but several barriers have prevented them from making the transition — including cost, ease of set-up and use, lack of integration with their accounting software, and not knowing where to buy the systems2.
"With QuickBooks Point of Sale, Intuit is helping to close the gap between the 'corner store' and the mega-retailer," said Dan Levin, vice president of QuickBooks Financial Solutions. "Small business retailers now have a 'retail in a box' solution with superstore functionality and the same high quality and ease of use attributes QuickBooks customers expect."
The QuickBooks Point of Sale solution is priced 20 to 50 percent less than a majority of other PC-based POS systems3 and is the only POS solution available 'off the shelf' for self installation. Using intuitive screens, the product walks retailers through the entire set-up process to ensure the system is tailored for their specific needs. Additional screens guide and prompt users through the software's features and functions, requiring no computer expertise or training.
According to Intuit research, 45 percent of small business retailers manually enter sales data into their QuickBooks accounting software on a daily basis4. To eliminate this need for duplicate data entry and ensure greater accuracy, QuickBooks Point of Sale features one-click integration with the QuickBooks 2002 accounting products5. With a single keystroke, users can quickly and easily transfer summarized sales data directly into their QuickBooks accounting software.
"QuickBooks Point of Sale has saved me a great deal of time — at least 20 hours a month," said Mike Bodamer, owner of Florida-based Computer Creations and beta tester for QuickBooks Point of Sale. "Using the integration to QuickBooks accounting software and closing my books each day is simple — just a few keystrokes, and I'm done. Now, I can use that extra time to concentrate on things that will help my business grow, rather than on just what keeps it going."
QuickBooks Point of Sale Overview
An extension of Intuit's trusted QuickBooks product family, QuickBooks Point of Sale was developed in conjunction with Retail Technologies International, a leader in specialty retail management systems for larger stores and chains. QuickBooks Point of Sale offers a full range of capabilities, allowing users to make smarter decisions about their business, while providing them ultimate control over mission-critical activities, including:
- Processing Sales — Users can quickly ring up sales, process credit cards, and efficiently manage all transaction data from a single system. Users also can benefit from fast and reliable processing and tracking of credit card transactions with QuickBooks POS Merchant Service, powered by Wells Fargo Merchant Services*. The service offers QuickBooks Point of Sale customers a low discount processing rate, in addition to free online reconciling and reporting capabilities. (*Requires application approval. Fees apply.)
- Managing Inventory — Users can track up to 50,000 individual store items in real-time for complete accuracy, as well as gain any-time access to relevant data, such as item pricing and stock availability. Inventory items can be categorized by department, color, size, vendor or other customized variables.
- Tracking Customers — Users can maintain customer data, including sales history, contact information, purchase habits and more — helping store owners better manage customer relationships.
Additionally, QuickBooks Point of Sale offers more than 30 unique reports and 10 filter options, allowing users to run reports on 'best seller' and 'worst seller' product lists, sales associate performance, and on-hand quantities by item. It also features employee tracking capabilities, allowing storeowners to monitor employee activities such as individual sales and hours worked. Additional security options allow owners or managers to limit access to certain data and specific functions, such as returns and price change authorization.
Pricing and Availability
The suggested retail price for the complete QuickBooks Point of Sale Solution for Retailers is $1,499.95*, including both hardware and software components. QuickBooks Point of Sale Software for Retailers costs $799.95*. With expected availability in mid-May, both QuickBooks Point of Sale offerings can be purchased at selected stores, beginning with SAM'S CLUB™ and Office Depot™, or direct from Intuit by calling 1-800-926-6066. (*Prices subject to change.)
For more information about QuickBooks Point of Sale, visit www.quickbooks.com/pointofsale/
