#quickbookspos

In the digital age, efficient software solutions are vital for every business. In the retail sector, for instance, POS systems and accounting software play a vital role in improving productivity. The difficulty arises when you have to use a lot of separate software tools that cannot be integrated to create an all-in-one solution.

The hardware restrictions of the on-premise setup make the integration unfeasible. However, you can go for cloud hosting to enable a seamless integration of any number of applications.  

One such set of software products that can be integrated on the cloud is QuickBooks Point of Sale software and QuickBooks accounting software. Both software solutions are the products of Intuit Inc., and they have been around for more than a decade. These are designed for small and medium businesses and come with many exciting features.

QB POS allows retailers to process sales and take payments, manage inventory, control employee payroll, manage taxes, conduct customer loyalty programs, track income, and much more.

On the other hand, QB accounting software allows businesses to manage cash flow, keep track of customers, pay bills, benefit from tax deductions, and get customized reports. Both QuickBooks POS and accounting software are highly beneficial to retail outlets.

Integrating them is a straightforward process and ensures easy synchronization of data. Here are a few advantages of integrating both software solutions.

1. Makes Bookkeeping Easier

Balancing your books at the end of every day, week, or month can be a tedious task. Sometimes, it is impossible to tell the whereabouts of some payments. Integrating QB POS and QB accounting software eliminates the stress associated with bookkeeping by making it automated.

Your daily sales from the QB POS software are automatically synced to the QB accounting software. Therefore, you can get up-to-date reports on your cash flow and how your business is generally performing. You can also keep track of your expenses and gain valuable insight into your business by assessing your records, and even create financial reports.

2. Allows You to Cut Costs

Another significant advantage of integrating QB POS and QB accounting software is that it will enable you to cut costs. Using the QB accounting software, you can see which aspect of your business is making you lose money.

Based on this information, you can look into your QB POS software to decide which sort of cost-cutting measures to implement. For example, if you notice that your profit margin is not growing on the QB accounting app, you can check the QB POS software to discover which of your products are not moving off the shelves and maybe take it off your inventory.

You could also capitalize on the data from your QB accounting and QB POS software to decide on the best time to offer loyalty rewards and promotions to maximize your sales.

3. Allows Management to Use Time Effectively

One of the keys to success in every business venture is proper time management. Integrating QB POS and QB accounting software promotes efficient time management. The comprehensive platform that is created by linking both QB software solutions makes many manual tasks redundant.

For example, instead of wasting time inputting data or tracking sales, your management team could focus on more important tasks like overseeing the performance of salesforce and figuring out ingenious ways to attract more customers.

4. Simplifies the Process of Dealing with Taxes

One of the benefits of using the QB POS system and the QB accounting software is that it allows you to handle your taxes without any headaches. You do not have to enter your financial details manually into the tax software for it to be calculated. Instead, your taxes are computed automatically - this includes payroll taxes.

What's more, QB POS allows you to set up your sales tax, so you do not have to calculate the sales tax for each item. What's more, you can use the QB accounting software to determine instances where you can benefit from tax deductions.

5. Manage Your Payroll Without Stress

Creating a payroll can be a brain-scratching and time-consuming task if you do not have the right tools. QB POS system and QB accounting software ensures that you can automate most of the processes involved in creating payroll and sending the money out to your workers. For example, you can see how much time each person has put in through the QB POS system.

Based on this, you can calculate their income and send it out to them directly from the QB accounting software. You can choose to pay your employees through cheque or direct deposit right from the software. This is not only convenient but also guarantees accuracy in your calculations.

6. Manage Your Inventory Easily

By integrating the QB POS system and the QB accounting software, you can manage your inventory with greater ease. The POS system shows you the state of your inventory, and you can generate orders to your suppliers directly from the software.

On the other hand, with the QB accounting software, you can approve these orders and authorize payments. All this happens on one platform. There is no need to switch between software even if the process is being handled by different people. Apart from managing orders, both QB software solutions allow you to keep a tab on the total value of the items in your inventory.

Conclusion

The QB POS system and the QB accounting software are two of the top options for retailers. Intuit software solutions are very easy to use. You do not have to waste a lot of time training your employees on how to use them. Also, choosing these QB software solutions reduces the chances of human error as well as increases efficiency and adaptability in your organization.

Both QB software solutions are compatible with just about any device. Also, they do not require an internet connection to work. These software are recommended for both startups and established retail outlets.