Retail Technology

Bar Code
A bar code is a pattern of wide and narrow bars printed on paper or a similar material that can be read by a computer using a scanner. It is utilized to encode various kinds of data and is most commonly seen in the Universal Product Code (UPC) used at supermarket cash registers.
Cash Register
A machine used for recording cash and credit receipts from sales. It typically includes a paper tape to provide a receipt to customers and print each transaction. Sales are reconciled daily with actual cash and credit receipts, with entries logged into the appropriate journal.
EFTPOS: Electronic Funds Transfer at Point of Sale
EFTPOS is an abbreviation for Electronic Funds Transfer at Point of Sale, referring to a payment system that allows customers to make payments using electronic methods directly at the place of purchase.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.