With the advance of cloud-based software, retail bookkeeping has never been simpler.
Traditionally, each point-of-sale would need software installed and updated, or connected to an expensive computer server. Your customer databases from each shop would always need to be merged. Sales figures exported and then imported into an accounting program. Stock movements in your shop wouldn’t be reflected in your online store. These are just some of the hassles and frustrations of retail bookkeeping.
Thankfully, there is a better way. Cloud-based point-of-sale software such as Vend or Retail Express, are run on a secure web-based server. This means that your computers, tablets or smartphones only need an internet connection to access the point-of-sale software. When the software in the ‘cloud’ is updated, you automatically get access to the updated version. All your point-of-sales are connected to the one centralised program, allowing your customer databases to be merged. This can help improve your customer loyalty programs and marketing.
Cloud-based point-of-sale software can be easily integrated into accounting software such as Xero. Sales totals get pushed into Xero for reconciliation with your bank account. Account statements and invoices sent from Vend or Retail Express automatically appear in Xero for reconciliation. Purchase orders enter into your point-of-sale software are forwarded into Xero. You can even merge your customer and supplier databases in both Xero and your point-of-sale software easily.
Add Shopify to the mix for your e-commerce solution to take your retail bookkeeping to a new level. Shopify allows you to sync your products, prices and inventory with your point-of-sale software. This will ensure you never sell a product online that you don’t have in stock. If you decide edit your product prices or descriptions in your point-of-sale software, Shopify will automatically update your online products to match.
If you would like to find a retail bookkeeping solution for your small business please contact us for a free retail bookkeeping consultation. If you would like to know more about the services we offer, check out our bookkeeping services page.