The Benefits Of Integrating EPOS With AccountsIQ
Integrating EPOS with accounting software is fundamental to providing the full picture of a retail outlet’s performance. Whereas EPOS will record the hard data, accountsIQ will present the information in a way which will appease shareholders and franchisors. Using a direct integration will take out the majority of manual labour one would assume is involved with inputting onto accounting systems. This is because you can sync directly from source data.
Information relating to key areas such as customers and sales will be recorded instantly by the EPOS, and populated into accountsIQ without having to lift a finger. An accountants job will be to check the data for accuracy, and compile the information using the reporting tools available. This can be particularly powerful when you choose accounting software built to handle group company requirements.
Never before has it been so feasible to gather significant information such as KPI’s and inter-company analysis across a whole chain of stores with up to the minute precision. Another area which vastly improves post integration is that of bank reconciliation’s. A common issue for retail chains is not being able to see what cash has actually hit the bank until the end of the month. This presents a window of opportunity for fraud or accounting errors with the length of time it takes to reconcile.
Using our software integrated with EPOS, you can get an overview of both your bank and sales transactions. A manager can grant access to users in different locations and can tailor each screen for relevancy to specific users, by switching features on or off.
AccountsIQ can track stock take, monthly movements and stock depletion, as well as provide an audit trial for full visibility. The benefits of integrating your EPOS with accountsIQ are now too great to ignore:
- Sync directly from source data
- Visibility of cash collection for daily bank reconciliation
- Reconciliation by branch and location
- Visibility of weekly and monthly gross margins & profitability (whereas EPOS can often only gives sales results)
- Ability to offer online ordering via accounting system with fulfilment by individual shops
- Ability to implement inventory control