POS and inventory terms explained in plain language
Use this glossary to understand common billing, stock, restaurant, branch and digital invoicing terminology before selecting or implementing software.
Barcode
A machine-readable code linked to a product record for faster identification during billing, purchasing or stock counting.
Cashier Session
A controlled period in which one cashier records sales, payments, refunds and closing cash.
Cloud POS
A POS system hosted on an online server, usually allowing remote access, centralized updates and multi-location reporting.
Cost of Goods Sold
The calculated cost of products sold during a period. Accurate purchases, stock and valuation rules are required for reliable results.
Customer Credit
Sales recorded against a customer account for payment later, creating a receivable balance.
Digital Invoicing
The generation and transmission of structured electronic invoice data according to an applicable framework or authority requirement.
FBR POS Integration
A point-of-sale invoicing workflow connected with the relevant FBR system for businesses to which the requirement applies.
GRN
Goods Receipt Note: a record confirming that ordered items were received from a supplier.
Inventory Adjustment
A controlled increase or decrease in recorded stock because of damage, loss, correction or physical-count differences.
Inventory Transfer
The movement of stock from one warehouse or branch to another, normally with sending and receiving confirmation.
Kitchen Order Ticket
A preparation ticket sent from a restaurant order to the relevant kitchen or production area.
Low-Stock Level
A quantity threshold used to identify products that may need replenishment.
Modifier
An option added to a restaurant item, such as size, extra topping, cooking preference or exclusion.
Multi-Branch POS
A system that separates location-level operations while allowing approved centralized reporting and control.
Opening Stock
The approved quantity and value of inventory entered when a system starts or a new period begins.
Purchase Return
Goods returned to a supplier, reducing stock and the supplier-related transaction value.
Recipe Inventory
A method where selling a prepared menu item reduces its configured ingredients from stock.
Reorder Level
A target point at which purchasing or replenishment should be considered.
Role-Based Access
Permissions assigned according to job responsibility, such as cashier, manager, accountant or administrator.
SKU
Stock Keeping Unit: an internal identifier used to distinguish one product or variation from another.
Stock Count
A physical check of actual inventory compared with software quantities.
Stock Valuation
The method used to calculate the financial value of inventory, based on configured costing rules.
Thermal Printer
A commonly used receipt printer that prints using heat rather than ink.
Unit Conversion
A rule allowing products to be purchased and sold in different units, such as cartons and pieces.
Void
The cancellation of an item or transaction, normally requiring a reason and suitable permission.