UHY Ross Brooke Chartered Accountants

Square payment processing a great choice for SMEs

sme accountant

Square Point of Sale (POS) systems have become incredibly popular since they launched in 2017. The ubiquitous little square card reader now appears everywhere from busy restaurants to coffee carts outside train stations and even in taxis. Square’s card reader is a little square gadget that connects wirelessly to your mobile phone or tablet. When paired with Square’s software, it offers a sophisticated payment solution that is particularly well suited to small and medium-sized businesses.

One of the standout features of Square POS is its user-friendly interface, which makes it accessible to businesses of all sizes, including those with limited technical expertise. The intuitive design streamlines the checkout process, allowing merchants to accept payments swiftly and efficiently. Additionally, Square POS supports a variety of payment methods, including credit cards, debit cards, and mobile payments, catering to the diverse preferences of customers.

Another notable aspect of Square POS is its robust inventory management capabilities. Merchants can easily track stock levels, manage product variations, and set up custom categories to organise their inventory effectively. This functionality is particularly beneficial for businesses with complex product offerings or multiple locations, enabling seamless inventory management across the board.

Square POS also offers a range of advanced features to enhance business operations, such as real-time sales analytics, employee management tools, and integrated customer relationship management (CRM) functionalities. These features allow merchants to make data-driven decisions, streamline workforce management, and nurture customer relationships, ultimately driving growth and profitability.

Pricing for a Square contactless card reader starts from just £19 +VAT with in-person transaction fees starting from 1.75%. Hardware / software packages can be custom built to suit the needs of any particular business.

If you would like help with any aspect of accounting for your small or medium sized business, please do get in touch.

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