Why Your POS System And Accounting Software Need To Be Integrated
There are countless reasons why your POS system and accounting software need to be integrated.
In today’s high-tech digital age, it is increasingly important for business owners to keep up with their tech-savvy client base. One of the ways you can do this is by having your POS system and accounting software systems integrated.
One of the key reasons why your POS system and accounting software need to be integrated is to keep more accurate books. In fact, 50 percent of all small business owners say that bookkeeping is their most time-consuming and unpleasant task. Using a POS system that allows for integration with your accounting system will automatically sync your data daily. It will also help nearly eliminate manual data entry by inputting most of the accounting information for you, including inventory updates and sales totals.
5 Reasons Successful Businesses Integrate Accounting Systems with Their Point of Sale
Point of sale (POS) platforms changed the way businesses around the world operate. Business owners are no longer using traditional methods to track their daily revenue, but instead turning to the POS to automate and manage their operations. Capable of a range of functions in addition to revenue tracking, POS solutions also allow businesses to access data concerning payments, labor, and business performance.
Accounting integrations allow you to sync data such as sales, timesheets, inventory, and more. These metrics flow seamlessly from the POS to your accounting package, freeing you from manually sifting through documents or worrying about the “human error” factor during data entry.
Analyze business trends with custom reports
Retailers can quickly and easily analyze trends for multiple establishments in one place? The accounting integration will allow for accurate reporting and automates spreadsheet compilation, making your data easily accessible. You can export data from your POS and choose from a wide array of formats, getting as detailed or as high-level as you prefer.
Save hours of work with automation
Efficiency is key to a successful business. Manage all your data through your POS and let your accounting integration do the magic for you. Automation will give you accurate data and product information at your fingertips, saving you time and energy for other areas of your business.
Better manage employee time
Configure your employee time management process so that payroll data loads directly into your accounting software. You’ll be able to more closely monitor when employees clock in and clock out and identify times when you can optimize your labor for additional cost savings.
Sync with vendors
Synchronize vendor account and purchase order information for easy bill payment and budgeting. You’ll limit the time you and your employees spend trying to gather the necessary numbers. When businesses integrate accounting systems with their POS, operators can direct their data to flow directly to the accounting software or to a custom report.
Accounting integrations are powerful, drastically reducing inaccuracies in data around revenue. Accurate revenue data is paramount, as it impacts the way business owners and accountants make important decisions. Leave the data flow to automated processes, which will guarantee data sharpness, and free you to focus on what you do best: selling.
I would recommend M.X. Data to any retail company that is looking to compete in today’s ever changing retail environment. They can implement a solution from your customer facing POS terminals to the technology driven E-commerce side of the retail business. If you would like to reach out for more details please feel free to contact me directly.
Founded in 1988, M.X. Data has over 30 years of industry expertise and experience providing comprehensive services to internationally renowned luxury goods retailers and major brands in the fashion industry.