What is deposit in SAP IS-R-POS - Point of Sale?

SAP Term: deposit

• Component: IS-R-POS

• Component Name: Point of Sale

• Description: An amount of money paid as a security for a layaway, to ensure that the items are held for the cusomer for a predetermined period of time.

Smart SAP Assistant

• Key Concepts: 
  A deposit in the IS-R-POS Point of Sale (POS) system is a payment made in advance for goods or services that will be delivered or performed at a later date. It is typically used when customers are purchasing items that require special ordering or when they are making reservations for services. The deposit is held until the goods or services are delivered, at which point it is applied to the total cost of the purchase. 
  
  How to Use It: 
  When a customer makes a deposit, the POS system will record the amount and store it in the customer’s account. When the goods or services are delivered, the POS system will apply the deposit to the total cost of the purchase. If there is a balance due after the deposit is applied, the customer can pay it with cash, credit card, or other payment methods. 
  
  Tips & Tricks: 
  When taking deposits, it is important to clearly explain to customers what they are paying for and when they can expect to receive their goods or services. It is also important to make sure that customers understand that their deposits are non-refundable and that any balance due must be paid before they can receive their goods or services. 
  
  Related Information: 
  The IS-R-POS Point of Sale system also allows customers to make partial payments on their purchases. This feature can be used in conjunction with deposits to help customers spread out their payments over time. Additionally, customers can use loyalty points and other rewards programs to pay for their purchases.