Reliable accounting software has specific features, such as integrated inventory management and POS and multichannel support. A retailer would also need core accounting to keep detailed and accurate records of financial accounts, expenditures, cash flow, income statements, taxes, and other financial information. This article presents three excellent retail accounting software solutions.

Sage 50 Cloud

Sage 50cloud combines the flexibility of a cloud platform with the power of desktop. In other words, it can be used on your computer, but you have the additional convenience of a cloud component to store and provide backup for your data anywhere and at any time. The software is ideal for small and medium businesses, which is what most retail businesses are, and offers tools to automate accounting processes as well as manage cash flow, inventory, budgeting, taxes, invoicing, and more.

Sage 50 Cloud can enhance your platform with several add-ons such as communication and office tools, credit card processing, and payroll system. Sage is one of the biggest suppliers of ERP systems in the world and the largest supplier of technology solutions to small retailers with millions of satisfied customers around the world.

Sage 50 Cloud is a great product for your accounting needs. There are Pro, Premium, and Quantum accounting plans.

Sales-optimized Accounting Software

With Sage50 Cloud, you can quickly come up with quotes and proposals, easily keep tab of all your customers, and instantly transform them to sales orders and invoices. Your retail business gains momentum with this fast process.

Full Views

The at-a-glance dashboards offer a full view of key metrics, so there is no need to go through hidden menus and buttons anymore if you want to get the info you need about your business. The key metrics that are fully viewable thanks to the dashboards include expenses, receivables, available cash, current inventory, sales performance, and revenue trend to name a few.

Zoho

Zoho is a top-rated retail accounting solution that can simplify vital financial processes. Among its perks and highlights are managing and monitoring invoices, tracking expenses, keeping tab of transactions, running expense reports, and accepting online payments . Zoho makes financial and accounting activities simpler, from automating repetitive tasks like payment reminders and sending out recurring invoices and accurately recording foreign currency expenses and invoices to facilitating sales orders.

Zoho Invoice offers wide integration with a variety of apps, customizable invoice templates, and mobile versions of the software for invoicing on the go. And that’s not all – it offers a free edition of the software and three subscription plans that cost as little as $9/month. A free trial is available as well.

Vast Integration

Of all the reasons to choose Zoho Invoice, extensive integration is perhaps the most important. Zoho Invoice works with third-party software and services such as doc management tools, payment gateways, online file storage services, and other business apps as well as other Zoho apps.

Quick and Simple

This accounting solution was developed to be quick and simple. Zoho Invoice is fast, easy to use, intuitive, and responsive just like all Zoho products. These are just some reasons why Zoho apps enjoy such great popularity as business and productivity solutions.

Great Invoice Templates

Experts have gone so far as to say Zoho makes the best invoice templates in its class. It saves users lots of time by providing a gallery of invoice templates where they can select free templates, personalize and customize them, and send them to their customers at once when complete. It takes a few seconds to complete the whole process – up to a few minutes if you’re new to this kind of thing.

Quickbooks Enterprise

There isn’t a soul in retail that hasn’t heard of QuickBooks, and for good reason. If you want to retain control of your back-end POS, this is the wide-ranging, feature-rich solution your retail business needs. The company has devised the software’s functionality and feature set skillfully, creating a suite of tools that is more like an enterprise solution than anything else.

This software tracks employee hours and commissions, handles shipping and sales orders and inventory management, keeps a master list of your customers and their contact info, manages customer credit accounts, and much more. It definitely holds its own in terms of feature matrix.

Best Choice for Retail

QuickBooks POS is solid enough to handle many service-oriented business types, but it’s best for retail. There is no way to generate integrated scales for selling items by weight, so grocery stores and other businesses selling bulk goods will find QuickBooks lacking. The integrated customer rewards program is especially easy to navigate. Setting up parameters is quite simple as well. Just input how much a customer has to spend before rewards are earned and then set the reward amount.

When you attach a customer to a sale, the main register screen displays some basic information about the person while you’re adding items.

Intuitive

It’s quite easy to get going once you’ve downloaded the software. If you’re familiar with Windows, the interface will make a lot of sense. The right side of the window shows graphically rendered sticky notes with automatic reminders of issues that need to be addressed (running out of stock, customer orders waiting to be fulfilled, etc.). There is a list of buttons down the left side of the window for quick access to commonly used tasks, such as receiving items and making a sale. You can add your own custom notes as well.

QuickBooks POS can meet the needs of businesses of almost all sizes. Mid-sized retail shops might benefit the most from what this system has to offer, while bigger chains could find the Multi-Store package most convenient.

Disadvantages

Unfortunately, QuickBooks’ closed ecosystem doesn’t leverage the equalizing power of modern technology. The basic mobile functionality and backups over the Internet that the company has added are not as great in terms of user experience compared to what other cheaper and more modern POS systems have to offer.

Final Thoughts

Thank you for reading our review of the best retail accounting software. We hope it’s been helpful!

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