Top 10 Retail Software: Ratings and Reviews

Accounting systems for retail operations are more than just point-of-sale systems. An integrated retail accounting software system provides a suite of tools designed to make your retail operation more efficient, easier to manage, and more profitable.

Today retailers are engaged with exchanging goods for money. On the other hand, they need to manage a range of processes such as advertising, marketing, customer service, stock control, market research, supplier and much more. Although, there is also one more important job in retail marketing i.e. accounting. But the best part is accounting can be managed with prominent systems. The software designed for accounting can also fulfil the requirements of retailers. Many retailers are using these solutions for their company or some are planning to do that. Thus, if you have also decided to buy one, we have provided you the list of best companies who are offering quality accounting products.

We at Virtuous Reviews are specialized in providing independent and unbiased reviews and ratings on different solutions for accounting so that you ease with all the complicated tasks related to accounting. A wide range of brands is surmised, depending on different aspects they comprise. Our goal is to introduce you to quality information that leads the game in every aspect.

How to choose the right retail accounting software?

When deciding which retail accounting software to buy, here are a few points to consider:-

• Was it designed with retail in mind?
• Does the software work well for retailers? Read the online forums and specifications carefully.
• Does it have multiple access levels?
• It's best to have different levels of permissions for owners, managers and others with special authorisation. You won't want everyone on the shop floor having full access to your accounts.
• Can it record transactions and manage payroll?
• Nearly all accounting software handles transactions, but payroll might only be available as an upgrade. Check before you buy.
• Can it track inventory?
• Some do, others don't but can be seamlessly linked to add-on apps that can. Do your research, as this is a useful feature for retailers.
• Is it cloud-based?
• If so, it'll give you access to your accounts from anywhere at any time, lower support costs, automatic backup and easy connection to other apps.
• Is it scalable and extensible?
• Scalable means it will grow as your company does, letting you add new users when you need to. Extensible means you can add new features to the software just buy purchasing new add-on business apps.

Features:-

• Track payables and receivables - manage outgoing payments for vendors and other operating costs (i.e bills, rent) and incoming payments such as credited purchases.
• Inventory management - monitor the current value of inventory on hand, accounting for immediate and long-term depreciation of assets.
• Reporting and analytics - determine product margins and monitor sales performance at various levels, including product, employee, location, date and time.

Benefits:-

• Organization and efficiency. If you have ever tried to prepare a tax return without a formal accounting system or process in place, you know how much more organized a program will make your business. Having all of your data managed in one place saves a surprising amount of time when trying to determine the performance of the business.
• Automated reporting. Most accounting programs come with a number of standard reports, as well as the ability to build custom reports if necessary. Buyers should find it very beneficial to make key decisions quickly without having to spend a lot of time manually pulling together information.
• Having better information allows you to make better decisions.
• Import / export data quickly and easily.