Retail Accounting Software Needs These 6 Features
When ChainDrive designed the Retail Accounting software for our Integrated Retail Management solution, it was designed to address specific needs. Experienced retailers provided input and over the decades, our clients have added their requests. This has resulted in 6 essential features: retail-centric, centralized data, dynamic reporting, integrated invoice management, enterprise-wide transaction insight, and streamlined processes.
The Software Needs To Be Retail Centric
There are too many unique situations in retailing to make standard accounting software ideal for the application. Lease management, commissions, variable allocations, and more make it essential to have accounting tools that are suitable for your specific retail business needs and flexible enough to adapt to the changing needs of retailing in the future.
The Software Needs To Have Centralized Data
There is a reason that ChainDrive collects all the information generated in your business and stores it in a central database. That reason is to maximize efficiency. There are no multiple steps and manual processes involved in finding the data for cash audits or bank reconciliations, for instance. It’s all there, updated as it happens so that every status check is accurate and current.
The Software Needs To Offer Dynamic Reporting
The reports needed for a growing retail business can change as different information, various analyses, and other factors change. Reporting that is dynamic keeps up with the changes because it is user-defined and changes with the need.
The Software Needs To Provide Integrated Invoice Matching
Automatic invoice matching is possible because the accounting software has ChainDrive’s centralized database. That enables the integration of information and eliminates manual processing like verifying and matching invoices to POs. Integrated, automatic invoice matching keeps the payment process efficient and accurate.
The Software Needs To Give Enterprise-wide Transaction Insight
Accounting needs to be accurate, so every company, every channel, every store, every department, and every transaction that takes place anywhere within the business must be available. Without all the factors, the results don’t add up correctly.
The Software Needs To Use Streamlined Processes
If the software isn’t capable of streamlining processing, why use it? ChainDrive Integrated Accounting software simplifies this essential factor of your business by optimizing your ability to keep track of all the numbers accurately. It’s user-friendly, designed for today’s retail enterprise and capable of growing with you as your business grows.