A Detailed QuickBooks POS Review: Is QuickBooks Point Of Sale System Best For Your Small Business?
QuickBooks POS is a feature-rich point-of-sale system made by Intuit. The company has emerged as a leader in the accounting app market with its flagship titles QuickBooks and Turbo Tax.
Established in 1983, Intuit today is regarded as the most successful tech companies in the world. The company’s QuickBooks accounting software has the highest number of customers amounting to 12 million in 2019.
Intuit mainly caters to the small and medium-sized businesses and similar is the case with QuickBooks Point Of Sale.
But does QuickBooks System offer the real deal? What are the highlights of this POS system? Is this the right solution for your business?
Here, in this QuickBooks POS Review, we will take a close look at this POS system features, pros, cons, and frequently asked questions. After reading this detailed review, you will know whether it’s worth buying or not.
What You Will Learn:
- Introduction to QuickBooks POS
- Frequently Asked Questions
- What do Customers like?
- What Customers Dislike?
- Final Verdict
Introduction to QuickBooks POS
Website: QuickBooks POS Website
QuickBooks POS is a versatile point-of-sale solution that businesses can use for credit payment processing, sale and inventory management, loyalty program management, bills management, employee and time tracking, and much more.
Businesses who use the POS solution can handle a large number of inventories. The system can easily handle over 15,000 items. The software is easy to use and supports integration with QuickBooks accounting software. You can also integrate this POS with iPhone and iPad.
Intuit was founded by Scot Cook and Tom Proulx in 1983. The headquarters of the company is in Palo Alto, CA and it has 18 local offices located in the US, Canada, UK, France, Australia, India, Israel, and Brazil. The company’s market cap is $65.7 billion while the annual revenue was $5.964 billion in 2018.
QuickBooks POS is a locally installed solution with lots of features due to which it can be considered as more of an ERP solution instead of just a cash register. The system lets businesses to handle almost all aspects of a retail and hospitality business.
You will find QuickBooks suitable for most of the sales’ management and inventory management tasks. The easy to use features and powerful functionalities make the cost of this program worth it at the end.
Supported Operating Systems: Windows 10, Windows 8.1, Windows 7, and Windows Server.
The simple architecture of the POS solution makes it easy even for a non-tech user to use the system without any training. The system provides small and medium-sized businesses with simplicity, efficiency, and mobility that are not offered by most other POS systems.
Watch the below video to get a quick overview of this POS System:
Features: An In-Depth Look
QuickBooks system has a lot of features which make it a one-in-all solution for retail and restaurant owners. The system has simple and easy to understand interface that allows you to easily enter the required information.
QuickBooks system is available in three versions: Basic, Pro, and Multi-store.
The Basic version allows you to monitor sales, track clients, manage inventory, and transfer data to QuickBooks accounting software. The Pro and Multi-store version of the software come with advanced features like the auto-generation of purchase orders, adding pictures of inventory items, and employee sales & commission management.
Credit Payment Processing
QuickBooks Point Of Sale can be used for managing cash, credit and debit card payments. The system supports all popular credit cards including Mastercard, Visa, Discover, and American Express. The payment processing system is fully integrated with the desktop system.
The company claims the highest security protection for debit and credit card payments. Given the fact that more than a million customers trust QuickBooks POS, and we can take this claim to be true. The system supports EMV and other secure payment technologies.
A great thing that I like about this credit payment processing software is that you don’t have to pay per transaction. This can be costly particularly for large firms. The pricing is fixed due to which you won’t be forced to pay more in the future.
QuickBooks Desktop Integration
What I particularly like about the card processing feature is that all the information can be seamlessly transferred to QuickBooks Desktop. In fact, the two work together like the wheels of a bicycle.
All the transactions can be synced with the accounting software thereby saving your time in entering the sales related accounting information. This also prevents the errors that might otherwise occur when manually entering the sales data in QuickBooks.
Sales Transaction Management
This POS allows you to add sales data in multiple ways. You can use the optional QuickBooks barcode scanner to add items. In addition, you can add data manually using MS Surface Pro 4.
You can offer discounts and add customer information directly at the POS. This saves a great amount of time in accounting for discounts and other expenses.
With QuickBooks POS advanced versions i.e. PRO and Multi-Store, you can also manage inventory items. The system automatically updates the inventory after each sales transaction.
Hence, you will exactly know how much inventory you have at a given moment. You will know what inventory items are in most demand and what is not in demand. With this critical information in hand, you can adjust your product mix to better serve your customers and improve the profitability along the way.
Most business users will particularly like the fact that you can easily move the existing inventory data to the POS software. The software can upload inventory items from the spreadsheet software.
Customers and Reward Programs Management
QuickBooks makes managing customers a seamless experience. You can manage credit customers and reward programs using the system. The system will provide complete details about each credit customers including the amount due, available credit limit, and other important information.
You can also manage the loyalty programs using the POS system. It allows you to create and manage loyalty programs to reward your best customers. You can print discount coupons and limited time deals on receipts. You can also track the promotions offered to the customers and manage them all through the dashboard.
Features at a Glance – Basic, Pro, Multi-Store
Frequently Asked Questions
Given below is a list of the popular faqs on this POS.
Q #1) What is QuickBooks POS Best For?
Answer: QuickBooks system is best for small and mid-sized businesses. Large businesses with millions of transactions per month will find the features limited to their needs. This POS software is ideal for restaurants, bars, shops, and other retail service businesses.
- Small and medium-sized businesses.
- Retail Shop
Q #2) What are the Requirements for QuickBooks?
Answer: It can run only on Windows systems. The system is also compatible with the MS Surface Pro 4 tablet. The following is the hardware requirements for using the POS software.
- Processor: 2.8 GHz processor recommended for single users; 3.5 GHz for multiple users.
- Disk Space: 1 GB disk space minimum
- Memory: 6-8 GB Ram recommended for a single workstation.
- Screen Resolution: 1280*768 or higher
You should only use QuickBooks POS hardware with this software. Hardware purchased from other sources may not work. Also, Intuit does not provide API access, hence there is no guarantee that the other products will work Intuit’s POS.
This POS can integrate with QuickBooks Desktop 2016, 2017, and 2018, and Enterprise Solutions Versions 16.0, 17.0 and 18.0.
Q #3) How much does QuickBooks POS Cost?
Answer: QuickBooks system does not have subscription plans similar to QuickBooks Desktop. You have to pay only one fee for the software. Moreover, you have to purchase the POS software and hardware separately.
QuickBooks POS Software
For a hands-on review of this POS, you can request for a free trial. The free trial allows you to test the software for 30-days.
The POS software doesn’t support credit card payment processing. For an integrated payment processing feature, you have to subscribe to any one of the following payment plans.
QuickBooks POS Hardware
EMV Ready Pin Pad | Price $99
With the EMV Ready Pin Pad, you can process most of the credit and debit cards of your customers. EMV is a new secure credit card payment standard in the US that stands for Europay, MasterCard, and VISA who developed the standard.
Using the EMV-ready card reader, merchants won’t be liable for stolen or counterfeit card transactions. The card reader conforms to the latest PCI PEC security standards that reduce the risk of losses due to credit card related frauds.
Receipt Printer| Price $219.95
The receipt printer automatically prints out a receipt whenever a transaction is complete. A great feature that I liked about the receipt printer is that it also prints gift receipts and credit card slips.
The printer has a built-in auto cutter that removes the receipt. The easy drop-in paper loader allows you to place printing papers easily.
Barcode Scanner| Price $219.95
Intuit’s Barcode scanner can scan both high and low-density codes. The scanner can be used with different transactions including invoice, sales orders, refunds and credits, item receipts, and inventory transfers. The certified barcode scanner has a 18’’ maximum scan range.
The scanner is great for light industrial applications. However, some customers have complained that it creates errors while trying to scan a large number of inventory items quickly. If this scanner doesn’t fit the bill, you can also try QuickBooks POS compatible scanners that are available online such as:
- Datalogic QuickScan 2130,
- IDTech Econoscan II, or
- Symbol M2007 Omni-directional scanner.
Cash Drawer| Price $199.95
Intuit’s Cash drawer is an important accessory for any retail business. The drawer has a sturdy metal construction. The drawer is lockable due to which it can also serve as safe.
The drawer will open automatically when a sales transaction is complete. This drawer also features dual media input slots. You can connect the drawer to the receipt printer for effortless printing.
Pole Display| Price $209.95
The pole display is an optional accessory that will show prices as the sales transaction is recorded. The pole has a green fluorescent display that looks pleasant. You can also program custom messages to display on the pole screen. Although the high price of the item is a bit of a letdown.
Tag Printer| Price $329.95
With the tag printer, you can print tags for inventory items. The printer can pair with the Bar Code Scanner for accurate and quick record of items. What I like about this printer is its small size due to which it can fit in compact places. The printer supports USB connection.
Wireless barcode scanner| Price $409.95
You can buy a wireless barcode scanner that has a wider range of movement as compared to the wired scanner. The Bluetooth enabled scanner makes scanning items a breeze.
The complete POS hardware systems will cost you around $1169 if you select a wired barcode scanner and $1379 with a wireless scanner.
The basic bare-bone QuickBooks system hardware without a cash register and pole display is around $849, which is not that pricey when compared to the other POS systems such as Clover POS.
What do Customers like?
Most of the customers love the ease of use of this POS. The software is relatively easy to use with a small learning curve.
A lot of customers also liked the fact that the fees are fixed. Unlike other POS like Square POS, there are no monthly fees. Hence, you won’t be paying extra when you scale up.
Many customers also liked the powerful features of the system. Even the basic version has advanced functionalities such as petty cash management, custom reports, built-in report templates, and much more.
- Ease of Use
- Fixed Fee Structure
- Variety of features
What Customers Dislike?
The price was one thing that most customers hated about this software. A complete system with the software will cost you above $2,000. In contrast, you can get some other POS such as Clover POS for under $999.
Another thing that most of the customers disliked about the system was its poor customer support. A lot of people have complained that their issues weren’t resolved in a timely manner.
A lot of customers on Amazon have complained that the system is not flawless and crashes sometimes. This might be attributed to conflict with the hardware system. They also complained about the fact that they had to pay extra for a customer support contract in order to resolve issues.
- High Cost
- Poor customer service
- Buggy software
QuickBooks POS is a powerful POS system that comes with amazing functionalities. The basic version features include payment processing, sales management, custom reports, petty cash management and returns, discounts, credit, and gift receipts.
For advanced features, you can purchase the Pro and All-Market versions.
The POS solution may be a bit pricey. But the cost is worth it while considering the value you get with the system. It can be a powerful tool to manage sales and inventory data for small and mid-sized service businesses. You will get an accurate picture of the sales revenue and inventories.