A Point of Sale (POS) system is a combination of hardware and software that allows businesses to manage and complete transactions with customers. It is a central component in retail and hospitality industries, providing a streamlined way to handle sales, process payments, and manage inventory. Here are key aspects and functionalities of a POS system: Transaction Processing: The primary function of a POS system is to process sales transactions. It allows businesses to ring up items, calculate the total cost, apply discounts or promotions, and generate receipts. Inventory Management: POS systems help businesses keep track of their inventory in real-time. As items are sold, the system automatically updates the inventory levels, preventing stockouts and providing insights into product movement.