MPOS logs its events to different Event Viewer locations depending on which version you're running.
AX 2012 R3
Application and Services Logs → Microsoft → Windows → AppHost → AppTracing
By default, some of these logs are hidden. To turn them on:
- Navigate to Application and Services Logs → Microsoft → Windows → AppHost.
- Right-click AppHost and select View → Show Analytic and Debug Logs.
AX 7 / Dynamics 365 for Operations
Application and Services Logs → Microsoft → Dynamics → Commerce-ModernPos
Under this node you'll find Admin, Debug, and Operational logs. Operational is where errors show up; Debug is disabled by default but can be turned on the same way as above if you need more detail.
This came out of a discussion on the Dynamics AX Community forum, which is worth a read for more context.