Best POS System for Accounts & Administration

Most POS systems provide a way for businesses to accept payments made with debit cards, credit cards, and mobile devices. In addition, Best-in-class POS systems will include additional features, like integrated software and secure payment processing streamlining accounting and administrative tasks.

You should contemplate which features you require for your company to discover the best POS system — whether that’s simple transaction processing, accounting, and invoicing skills, or inventory administration functionality.

Above all, you should also consider how much you’re ready to contribute to a POS system (incorporating the hardware, software, rental fees, and payment processing costs). Here are a few of the best POS systems.

Lightspeed POS

  • Specialized point-of-sale systems
  • Best for restaurants, retail, and e-commerce operations
  • Cloud-based software
  • Manage inventory and marketing & monitor sales
  • Manage employees and process payments
  • Works with third-party platforms
  • Additional marketing &customer loyalty
  • Employee management capabilities
  • Save for cash drawers, receipt printers and barcode scanners
  • Available bundled or a la carte thru hardware providers
AdvantagesDisadvantages
Cloud-based software runs on your existing hardware or Lightspeed products, Highly effective for inventory managementRequires a subscription fee, Higher-tier plan needed for accounting software integration

Shopify

  • e-Commerce platform provider
  • Offers point-of-sale software
  • Small business merchants for online and offline operations
  • POS product is tightly integrated with Shopify’s website platform
  • Offers reporting and analytics features
  • Actionable dashboard of sales & orders with traffic
  • Retail sales and finance reports
AdvantagesDisadvantages
Affordable plan options, Offers an easy way to integrate physical and online salesNot suitable for businesses with many physical locations, Basic plan doesn’t include reporting functionality

Vend POS

  • Owned by Lightspeed
  • Cloud-based point-of-sale system for retailers
  • Ease of configuration and customization
  • Offers reporting and analytics tools
  • Help manage sales, customer data with inventory
  • Best customer experience
  • Offers free customer support via phone, email, and live chat
  • Designed to work on Macs, PCs, and iPads
  • Compatible with third-party hardware
AdvantagesDisadvantages
Flexible plan options, Excellent option for small retail businessesSoftware-only product means that you’ll need to purchase third-party hardware for payment processing, Basic plan doesn’t include certain software integrations

Square

  • Known for straightforward pricing
  • Minimalist hardware
  • User-friendly interface
  • Standard payment acceptance
  • Software for customer relationship management
  • Invoicing, customer loyalty, inventory management
  • Reporting and analytics
  • Sales-oriented Square Dashboard
  • Gives analytical reports
  • Stats on sales summaries & growth comparisons
  • Help with busiest hours and employee sales
  • Offers free phone support
  • Assist via email, social media, and live chat.
AdvantagesDisadvantages
Software add-ons make it easy to personalize for your business
Multiple hardware options with a free reader
Extra costs to accept mobile payments
Additional fees for manually entered card payments

Clover

  • Highly flexible
  • Deeply integrated with hardware
  • Several built-in features
  • Sales and business management
  • Offers a range of free apps
  • Extended capabilities of the software
  • Standalone POS system
  • Gives merchants the freedom to choose a payment processor
  • Purchase a Clover Account service plan
  • Access to the company’s payment processing software
AdvantagesDisadvantages
All-in-one bundles available
24/7 phone support
Doesn’t offer a free hardware product like some competitors
Can be expensive to get started

Toast

  • Point-of-sale and management system
  • Exclusively for the restaurant industry
  • Technology platform
  • Restaurant POS with front-of-house and back-of-house
  • Guest-facing technology having third-party applications
  • Offers detailed analytics into things
  • Net sales and labor costs
  • Support for online ordering, loyalty programs, and digital gift cards.
  • Proprietary, ruggedized Android-based hardware suite
  • 14-inch terminal with a three-in-one payment processing device
  • Terminal hub and printer
AdvantagesDisadvantages
Built for all types of culinary
establishments
Free starter kit option
Payment processing fees vary depending on your business, Gift cards, loyalty program, and marketing features only included in highest-tier package

Wix

  • Website-development platform provider
  • Offers a wider range of commerce services
  • Point-of-sale hardware and software
  • Bundles for business owners who want to
  • Accept in-person payments connected
  • Integrated with Wix ecommerce accounts
  • Providing fully-synced inventory, orders
  • Fulfillment CRM, analytics, data & reports
  • Automatically reflected in Wix POS device, Wix Business Manager, and Wix Owner app
  • Wix Retail POS hardware kits
  • HP terminal pre-installed with the Wix POS software
  • Wix develops in-house
  • Provides at no additional cost
AdvantagesDisadvantages
Lower processing fees than other POS providers
Fantastic inventory, fulfillment, and analytics integration for Wix customers
No free options available
Not as sleek as competitive products

NCR Silver POS

  • An iPad-based point-of-sale system
  • Touts ease of use, setup, and customization
  • Offers robust reporting functionality
  • Tools for customer loyalty with email marketing
  • Employee management and inventory management
  • Additional services of accounting and bookkeeping
  • Partners with Intuit
  • Two NCR Silver Pro POS system bundles
  • Designed specifically for restaurants
  • Does not provide credit processing
  • Works with a range of third-party companies
AdvantagesDisadvantages
Subscription costs include hardware, Cloud-based software offers easy insight into sales, inventory, and moreDoesn’t support all third-payment processing providers, Implementation not included in Silver Pro upfront costs

Intuit QuickBooks POS

  • Point-of-sale system integrates
  • Company’s small business accounting platform
  • Attractive option for existing QuickBooks customers
  • Ringing sales and accepting payments
  • Offers robust support
  • Manages customers and inventory
  • Real-time inventory management
  • Comes with a one-time, upfront cost
AdvantagesDisadvantages
One-time, upfront cost might appeal to some business owners, Strong integration gives you comprehensive insight into your business financesOnly a good option if you’re an existing QuickBooks customer, Hardware sold separately

GoDaddy Payments

  • Go-to for over 20 million customers
  • Web hosting, domain registrar services
  • Positioned itself to compete
  • e-Commerce and in-person payments space
  • Expanded service & GoDaddy Payments
  • Allows for customers to seamlessly
  • Integrate POS, payments processing, invoicing
  • Existing businesses
  • Hybrid of the online and offline services
  • An ideal choice to manage a storefront
  • Utilizes online ordering and in-store pickups
AdvantagesDisadvantages
Transaction fees priced among the lowest on the market, Ideal for existing GoDaddy customers with WordPress and WooCommerce sitesHardware sold separately, Benefits an existing GoDaddy customer more than a new one

Wrap Up

There are many essential determinants to consider while comparing point-of-sale providers, like:

  • Cost
  • Hardware and software options
  • Payment method coverage
  • Payment processing options
  • Hardware and software interoperability
  • Customer support

However, for most business owners, it’s helpful to narrow things down to the essentials.