Retail-Centric Integrated Accounting Saves the Day

Accounting isn’t the glorified aspect of retail, but it is one of the most important parts of the whole. Marketing and customer service wear the crowns, but accounting makes it possible for them to do so. Here’s why retail accounting is so important, and how you can make your retail chain’s accounting practices more integrated and effective.

1. Allocate expenses more efficiently – Whether you have a one-off expense allocation or you need to allocate expenses on a monthly basis, a good retail management solution can help you allocate the right expenses and even transfer expenses from one store to another.
2. Manage your leases better – No matter how many lease agreements you have, you can keep track of all of your lease agreements, their terms and stipulations, and their renewal or terms of contract ending dates, all in one place. Keep track of your leases on a store by store basis and know when it’s time to move or renew.
3. Cash audit drill-down – When it comes time to audit your books, take a look at every aspect of your accounting practices all the way down to the individual invoice. Print your bank reconciliations, post daily sales, and automatically transport data from your Internet store. You’ll save a lot of time and headache with this tool.
4. Match invoices to purchase orders – No more hunting for that invoice or purchase order. Match them automatically and pay your invoices more quickly.
5. Keep track of commissions – If your retail organization has a complex sales organization with a complex commissions program, ChainDrive will help you keep track of commissions and bonuses for all sales associates. Run employee incentive programs, keep track of tiered commissions and sales bonuses more seamlessly as you keep track of sales associate pay on a timed basis.
6. Automatically reconcile your bank accounts – Post daily POS, credit card receipts, cash and debit transactions, and deposits. Your Integrated Accounting software should reconcile your bank statements down the individual invoice any time you need it to. Perform this task automatically or manually, periodically or any time you need a statement.

ChainDrive’s Integrated Accounting solution is robust, flexible, and can meet any retailer’s needs.