Accounting Software for Retail
Accounting software for e-commerce helps you manage the financial aspects of your retail business; streamlining processes like purchase order management, tax calculation, cash flow calculation, and many others.
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.
When you make a sale online, retail accounting software automatically records the transaction and updates 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. Also, accounting software for e-commerce businesses can manage inventory.
Overall, accounting software for retail helps make the accounting process more efficient and accurate. It gives owners time to focus on growing their business. You can integrate this tool with your website, order management, and inventory management systems.
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
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 Clients
We develop large projects for clients across 27 countries, a significant number of which are featured on the Fortune 500 list.
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 |
Technologies
We specialize in specific technologies, with the technology stack chosen based on the project’s purpose and requirements
Programming languages:
Web / Frameworks:
Databases / Data storage:
DevOps containers:
DevOps automation:
DevOps CI/CD:
DevOps monitoring:
Testing:
Clouds: