What makes point-of-sale systems different from revenue cycles of manufacturing firms?
In point-of-sale systems, the customer literally has possession of the items purchased, thus the inventory is in hand. Typically, for manufacturing firms, the order is placed and the good is shipped to the customer at some later time period. Thus, updating inventory at the time of sale is necessary in point-of-sale systems since the inventory is changing hands, while it is not necessary in manufacturing firms until the goods are actually shipped to the customer.
Also, POS systems are used extensively in grocery stores, department stores, and other types of retail organizations. Generally, only cash, checks, and bank credit card sales are valid. Unlike manufacturing firms, the organization maintains no customer accounts receivable. Unlike some manufacturing firms, inventory is kept on the store's shelves, not in a separate warehouse. The customers personally pick the items they wish to buy and carry them to the checkout location, where the transaction begins. Shipping, packing, bills of lading, etc. are not relevant to POS systems.
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