Intuit, a provider of business and financial management solutions, has released the latest version of QuickBooks point of sale retail management software.

Designed to replace the traditional cash register, QuickBooks point of sale (POS) helps retailers provide better customer service, improve inventory tracking and strengthen back-office management. QuickBooks point of sale integrates with QuickBooks financial software letting retailers to track the overall financial health of their business without manually re-entering data.

The company stated that QuickBooks POS 7.0 is available as stand-alone software or with a complete set of POS hardware.

Joanne Jacobs, general manager of Intuit's retail solutions division, said: "We know independent retailers face tough competition, so every year we ask thousands of them what we can do better to help them succeed. This year, we introduced new tools that will help all types of retailers whether brand new or well established make better decisions and sharpen their competitive edge."