Gain Insight Into Any Transaction With Integrated Accounting
Numbers are useful things, but numbers can only be considered useful when they are viewed in context. That is why ChainDrive developed an accounting component for the Integrated Retail Management solution that puts every transaction into an accurate, comprehensive context so that retailers can see exactly what is happening in their business.
All The Numbers In One Place
The centralized database is the foundation of ChainDrive’s “Retail-Centric” accounting systems because this is where all the numbers are securely kept for authorized access. All the functions that retailers have requested are made possible because all the numbers from everywhere in the business are in one place.
Instead of relying on manual postings from various departments with the subsequent potential for human error, a cash audit can be accomplished with the click of a button. Daily sales, deposits, and petty cash expenses can be posted with ease. Bank reconciliation is accomplished using an automated module that securely imports transaction files from the internet.
Having all the numbers in the centralized database enables the ChainDrive Integrated Accounting to centralize many functions that once were the burden of individual stores, too. Lease agreements can be monitored, rent calculated and posted automatically to the GL. Even future plans can be budgeted up to twelve years ahead.
All The Numbers In Context
As a retail business grows, accounting gets more complex. Inventory management, expense allocation, commissions, incentives, and more need to be seen in their proper context so that the numbers are handled accurately.
Individual transactions can get lost in the overwhelming flood of data when there is a lack of integration. Invoice matching, for instance, takes a huge amount of work if done manually. ChainDrive’s Automatic Invoice Matching efficiently connects invoice, purchase orders, and receiving documents in a fraction of the time. The tri-dimensional GL structure provides context for information by account or store or department so that accountability is consistent. Every transaction takes place within a specific context, so it is important that management be able to view the context when needed.
ChainDrive’s Integrated Accounting component enables retailers to keep track of all their numbers by providing a centralized database and integration of all the data. This keeps each transaction accurate and transparent so that accounting is efficient and insightful.