Custom Accounting Software Development for Retail Industry

About Accounting Retail Software

This system works by automating and streamlining the accounting processes that are associated with online sales. Such software can automatically collect data on your sales, expenses, and inventory, and turn it into comprehensive reports. Even the smallest e-commerce business has to deal with different kinds of financials and reports. By using this system, you can quickly generate your required quantity of standard and customizable reports.

An additional key feature is the tax calculation capability. This tool can automatically complete all your tax forms, saving you a considerable amount of time. This feature is particularly advantageous if your business operates across multiple countries and navigates various tax systems as several legal entities.

Whenever you make a sale online, retail accounting software will automatically record the transaction and update your financial records. It will also calculate taxes, fees, and shipping costs, and generate invoices for your customers. These capabilities reduce the need for manual data entry and lower the likelihood of errors. In addition to recording sales, accounting software for e-commerce business can also manage your inventory levels.

Overall, accounting software for retail business helps make the accounting process more efficient and accurate, giving business owners more time to focus on growing their business. You can integrate it with your website, order management, and inventory management systems for greater efficiency.

Features

Accounting software for retail businesses

Vendor records management
Payment date calculation
Purchase order management
Report generation
Sales attributions
Cash flow analysis
Profit and loss
Fund accounting
Product movement history
Tips, vacation pays, commissions
Data export and import
Customizable cost breakdowns
Financial reports
Control over accounts receivable

Order management
Sales tax calculation
Role-based access and view
Search tools
Progress billing
Bank reconciliation
Multiple deprecation formulas
SKU tracking and stock counts
Tax withholding calculation
Audit trails
Third-party software integration
Inter-company transfers
Profit calculation for goods, departments, and company

Inventory management
Payment processing
Pricing and discount management
Suspicious payment alerts
Multi-currency support
Sales forecasts
Departmental tracking
Serial number tracking
Electronic tax filing
Purchase requisitions
Stock level alerts
Bank integrations
EBITDA calculation

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Work Process

Accounting software development encompasses multiple stages. For each one, you will need a dedicated team. As a rule, integrations with other software require special focus.

1

Project planning

We analyze and prioritize tasks, and set priorities.

Team:

Project Manager

2

Business analysis

We analyze the client’s current infrastructure, develop task specifications, and search for solutions for customers’ problems.

Team:

Project Manager
Business Analyst

3

UI/UX design

We design convenient and appealing interfaces for different groups of users.

Team:

Project Manager
Business Analyst
UI/UX Designer

4

Back-end development

We work on the web app’s server side.

Team:

Project Manager
Business Analyst
UI/UX Designer
Back-end Engineers
Manual QA Engineers

5

Front-end development

We work on the web app’s user side.

Team:

Project Manager
Business Analyst
UI/UX Designer
Front-end Engineers
Manual QA Engineers

6

Integrations

We analyze the software to be integrated and complete two-side integrations.

Team:

Project Manager
Business Analyst
UI/UX Designer
Front-end Engineers
Back-end Engineers
DevOps Engineers

7

Testing

We test the product by performing manual, automated, unit, and integration testing.

Team:

Project Manager
Manual QA Engineer
QA Automation Engineer
Back-end Engineers

8

Implementation and training

We create training materials and add the solution to the client’s tech stack.

Team:

Project Manager
Technical Writer
DevOps Engineers
Support Engineers

Our company specializes in projects for
Retail & E-commerce

Why Do You Need It?

Running an e-commerce store involves a great deal of work with payroll, taxes, invoices, and bills, and you will most often need a tool to automate all this work. Accounting software for retail shop can be beneficial in the following cases:

Different sales channels

Your retail business uses multiple sales channels

Wide range of products

Your shop offers a broad product line

Diverse collaboration

You work with different suppliers and partners

Vast online sales

Your online sales volumes are large

International operation

Your store operates in countries with different taxing systems

Many inventories

You have multiple inventories

Complex discount system

Your store offers different levels of discounts

Limited data on budgeting

You need more financial data for efficient operation

Large current assets

You have a large accounts receivable

Metrics calculation

You need to calculate EBITDA and other financials

Absence of analysis

You lack financial analytics on goods or departments

Untimely payouts

You deal with payment delays

Hard to track payments

Part of payments are lost

Poor tax management

You have problems with tax calculation

Inefficient employee work

Your accountants are overloaded or there are too many of them

Our Standards

In our work, we follow international approaches and standards such as:

Management:	PMP
Design:	ISO 9241-210
Programming:	Coding conventions, MDN Web Docs, Naming convention
Python:	PEP 8
JS/TS:	ECMA, JavaScript Standard Style, Google TypeScript Style Guide, ESLint
PHP:	PSR
С#:	ReSharper
HTML/CSS:	W3C
Security:	GDPR
Testing:	ISTQB