10 Things To Look For In Retail Accounting Software
Selecting the best retail accounting software for a particular business is a challenge. The software must be able to adapt to changing situations, keep accurate records for strategic planning, and balance all the many details that involve a retail business operation. Here are 10 essential things to expect a good retail accounting software tool to possess:
- accounting systems should be fully integrated with a centralized database and “retail-centric” in concept
- capability to seamlessly manage inventory and expense allocation with multiple companies or channels
- commissions and incentives engine should be rules-based and feed directly to your payroll provider
- payroll services should be integrated
- invoice matching should be integrated, including drill-down to PO detail
- reporting for a powerful retail financial system should be available at different grouping levels
- accountability should be structured into the GL by account, store, and department
- automated bank reconciliation with complete drill-down functionality
- automated cash audit with complete drill-down functionality
- centralized lease management and rent invoicing should include future liability projections
ChainDrive Has It All
The robust accounting information system designed by retailers for ChainDrive’s Integrated Retail Management Solution includes all of these features in the Integrated Accounting component. Because the software has been designed specifically in answer to the pain points encountered when managing a thriving retail business, many of the issues encountered by the retailer are already addressed.
But the best thing about ChainDrive is the fact that it can be easily customized for specific situations and provides professional, ongoing support. This ability to create a reasonably-priced, fully-supported custom software system that is integrated across the entire enterprise puts ChainDrive above the rest of the software being offered today.