What Is The Need Of Integrating EPOS With Your Back-End Accounting Software
The objective of integration is to use same datafiles for multiple systems. Your POS is helping a customer`s purchase and record individual sales. These sales combine to form your complete day by day sales. For the most part, these daily sales are then "dropped" into your accounting software. Your accounting software probably won`t separate sales on a value-based level, yet they will have ledger entries for a particular week`s sales or day’s sales.
There are many key POS software features to think about while evaluating systems, but many tend to gloss overt he benefit of a strong integration with your accounting system. It`s important to think about whether the POS system you are looking for can integrate with your present system, or if you may need to consider a fully integrated solution. In any case, POS and backend accounting have similar but distinct functions that together, can help your retail business run much smoother.
Eliminate Manual Entry
A huge benefit of software integration is the ability for data to be transferred, and accordingly avoid from entering the same data twice. A case of entering data twice would be having a handful of transactions go through on your POS system, and toward the day`s end, having to manually enter in every transaction into your back-end accounting system.
In a POS, you`re processing many every day transactions. Basically, it would be very time consuming to record all of these transactions into your back-end accounting system. In fact, some book keepers may become lazy and decide that it isn`t important to record these transactions in the back-end accounting, simply due to time constraint. They may take an alternate way, such as only inputting every day or weekly sale figures. This leaves your general accounting records not as complete as possible.
Match Credit Card Payments
A benefit of most POS systems is the capacity to process credit card sales. A few POS hardware will have credit card scanners built in, while others will allow you to input a sale as either "cash" or "credit", and use a3rd party CC reader that has been detached from the EPOS system or cash register. In the last scenario, it becomes vital that your inputted CC deals on the POS are matching the CC payments that are handled on your CC reader. Over all that, you`ll need to record credit card sales in your accounting software separately from your cash sales, and need to guarantee the right figures are being sent over.
Sending these every daily credit card reports is a common transaction however it becomes vital that any POS stores are coinciding with actual bank deposits. An ongoing Accountex report gave a model that many retailers could go over: A merchant service in a POS may choose to cut off credit card charges before the close of business for the day. This means any amount that is deposited won`t combine up with any bank deposit that would be made. Another example given was how the merchant service provider may take fees that are owed to them out of your deposit, instead of letting you a chance to deposit the gross sale amount and letting you a chance to pay the fees in a separate transaction.
Sync Customers and Their Balances
A large amount of POS systems can allow you to follow those two customers just as a customer balance. Ordinarily this information is found in the AR part of your accounting program, as businesses will track funds paid and funds owed. In a situation without any POS set up, you may receive a sales order from a customer. You`ll record the sales data in the customer record and process any payment (or issue any receipt) in the AR module. In a POS, this transaction can be handled much quicker. When you think most retail transactions, you consider quick sales of sundries, where there isn`t time (or a need) to match the sale of the particular item to a customer account.
With repeat customers, or with allowing customers to open records with you, it starts to make sense to store data on customers and pair up their transactions with their customer document. Given that POS transactions will have much more action or volume in them, the AR becomes a more clean and condensed place for you to look for and gather specific customer’s purchases.