Configuring your essential settings in Lightspeed Retail involves the following four areas of your account:
- Welcome page
- Locations
- General Options
- Optional Modules
Welcome page
When you log in to your Lightspeed Retail account for the first time, you're greeted with the Welcome page. It contains two steps that will lay down the foundation of your account settings:
- Entering your Location details
- Entering your Tax settings
Once you've completed the Welcome page, you'll have entered your first location's information and set up your account's sales taxes. Should you need to make changes to these settings, you can do so in Settings > Locations and Settings > Sales Taxes.
If you need to add tax classes for items, labor or customers that are taxed differently, please see our Creating tax classes and Setting labor taxes and labor rates articles.
Locations
If you're a Retailer with multiple registers or multiple locations, you can add registers and locations from the Settings > Locations section.
For detailed instructions on how to do so, please see our Adding registers and Adding locations.
General Options
Under Settings > General Options, you have the choice between two cost methods:
- Average Cost:
- First-In First-Out (FIFO)
The cost method you select will determine the cost calculations your account will make for your inventory's quantity on-hand and your sold items (cost of goods sold). Because the results of these cost calculations are involved in many other calculations in your account (e.g. margins, markups and profits), the cost method you select will consequently affect your reports. For this reason, we recommend confirming your cost method before you start adding and selling your items. If you're unsure on which cost method to select, we also recommend discussing it further with your bookeeper so that your Lightspeed Retail account is aligned.
Activating Optional Modules
Retail POS allows you to cater your account features to your business needs with optional modules. These modules activate features like work orders to schedule services and repairs, customer loyalty to reward customers, and a time clock to manage employee hours.
To manage your optional modules:
- Navigate to Settings.
- Under Advanced Setup, click Optional Modules.
Contact support if you need a module that isn't listed on your Optional modules page.