2 Features You Need In Retail Accounting Software
Accounting is an essential part of retailing. Accounting software makes that task much easier, but software only works when you have the right application. The ChainDrive Integrated Accounting component is part of a complete integrated retail management software suite that has been designed by retailers to do the tasks they need for a successful, profitable operation. Two of the most important features are automation and integration.
When data is automatically collected and stored appropriately, the process is seamless. Human error is reduced, staff is freed to interact with customers, and every transaction is recorded in real time. Bank reconciliation transports transaction files from the internet. Daily sales, deposits, and petty cash expenses are posted from POS to the GL in full detail for future audit purposes. Invoice matching, commissions, payroll, and other functions provide a smooth foundation for daily operations.
The centralized database is consistently updated in real time so important information is there where you need it when you need it. Streamlined processes make your retail business reliable and that reliability builds consumer confidence.
Retail business is multichannel and multifaceted. That does not mean keeping track of all the details has to be like keeping track of which kernel of popcorn just exploded. Popcorn pops like data is produced in a thriving retail business; keeping it all in one bowl is like keeping all the retail data in one spot. ChainDrive uses a centralized database to do this.
From that centralized database, a fully integrated, retail-centric accounting system can keep track of all the details across every channel, even with multiple companies. Inventory management, expense allocation, payroll, commissions, incentives, invoices, reporting, bank reconciliation, cash audits, lease management, and more are securely integrated. This integration enables the retailer to see the entire picture of the operation down to the individual details.
When accounting is automated, data is collected and processed in real time in the background of a growing business. When accounting is integrated, that data is accessible to be analyzed in proper context and relationships to other facets of the business can be clearly understood. Both automation and integration are needed in accounting software so the retailer can be equipped for the realities of today’s business world. That is why ChainDrive Integrated Accounting software has these basic features and much, much more.