Why Is Integrated Accounting Necessary?
Back in the days before computers changed so much of our lives, accounting was not integrated because it was impossible. Ledgers were carefully filled with tallies and copied meticulously for safekeeping. Accounting departments were filled with files and piles of records and there was one door to get in if you needed the numbers.
But today, integrated accounting is both possible and necessary. It is possible because the right retail management software can integrate automatically. It is necessary because omni-channel retailing has complicated the task of accounting.
ChainDrive Meets The Need
Here is a list of key features in ChainDrive’s Integrated Accounting component:
- Fully-integrated “Retail-Centric” Accounting Systems leveraging our centralized database
- Multi-company capability, including seamless inventory management and expense allocation
- Rules-based commissions and incentives engine that feeds to your payroll provider
- Payroll Service Integration
- Integrated invoice matching, including drill-down to PO detail
- Powerful Retail Financial System with reporting available at three grouping levels
- Tri-dimensional GL structure, providing accountability by account, store, and department
- Automated Bank Reconciliation
- Automated cash audit and bank reconciliation, with complete drill-down functionality
- Robust accounting information system
- Centralized lease management and rent invoicing, including future liability projections
Each of these features allow the essential task of accounting — keeping track of the numbers — to function seamlessly because the system can automatically integrate the data coming in by accurately putting those numbers where they belong for future reference.
Instead of walking down the hall into the accounting storage area and trying to locate a particular employee’s sales so commission can be calculated, payroll automatically has the numbers. Instead of leafing through invoices to find a particular sale, integrated invoice matching can drill down to PO detail as needed.
Integrated Accounting is possible with ChainDrive, and it is necessary because without it multichannel retail management is not going to function effectively.