Skip to main content

Update The Accounting Software with the Latest Key Features

Most links allow you to send sales, purchases and inventory adjustment transactions from your POS accounting  software to the accounting software. Keep in mind, most interfaces require you to trigger them manually or they run during the end of day process.

Some POS accounting software systems offer more advanced links that update information in real-time, but they all work different. Here are the different types of links that I have seen:

General Ledger Only Interface - Some POS accounting software  systems will only interface to the general ledger. This means you have to update your accounts payable manually, which isn't big deal, since there's not much information to post. However, it does take a little extra time and it's prone to human error.

General Ledger and Accounts Payable Interface - This allows you to send information to both modules so you save a little time and more importantly, you reduce errors. Don't forget that your accounts payable transactions flow into your general ledger. If you make a mistake in accounts payable, you're general ledger totals will be wrong.

Batch Summary Interfaces - Most POS accounting software interfaces send batch summaries to the accounting software . This is an efficient way to send information and reduces general ledger entries.

Line Item Detail Interfaces - Some POS interfaces will send every line item detail (transaction) to the accounting software. This can be helpful because each journal entry usually includes more information, like the customer or invoice number. Then you can quickly trace the transaction back to the POS.

Advanced / Integrated - Some POS systems offer advanced (integrated) links to QuickBooks and other accounting packages. These advanced links update accounting information instantly (in real-time). They can also include more information, making it easier to trace information back to your POS software.

Every interface has different features, but there are some inherent advantages to using a separate accounting system...


Advantages of a separate accounting package include:

Save money - If you already have accounting software, you can save money since you don't have to pay for the "add on" POS - accounting modules.

No re-training - If you already have accounting software, you don't have to learn another system of re-train employees.

Better overall design - Stand alone accounting software packages are usually designed better than the packages built into POS systems. POS Companies usually devote most of their effort to the design of the POS and inventory modules, where Accounting Companies will naturally focus on the design of the accounting. This isn't always the case, but it's true in most situations.


Labels:
Location: Singapore

Comments

Post a Comment

Popular posts from this blog

Accounting software and its legacy

Accounting software was one of the first software to come up in offices along with the initiation of Software and Hardware. The reason being is the fact to control Money Flow in the offices. Typically, an Accounting Software is developed using a Database, a Front End tool and a Reports or Dashboards. Accounting software is developed for various formats like desktop, online, network (client-server) and web. For developing online accounting application or software you will need a web development tool like PHP/MySQL. Many Accounting software has been developed using these tools provide great speed and usability. A well-developed Accounting Software caters to several domains. So, well-designed accounting software can, in theory, meet the needs of several types of firms. However, in run-through a certain amount back bending is required to use a Generic Accounting Software in a manufacture or church or call center or fund management environs.  Here the flexibility of the software
2 comments
Read more

Ez payroll Software | Singapore Accounting Software

Ez payroll Software | Singapore Accounting Software  https://www.ezaccounting.com.sg/ezaccounting/ez-payroll.html EZ Payroll Software Why Need Payroll Software? EZ Payroll is listed on Singapore CPF board and IRAS as a approved vendor for submission of CPF text file online and yearly auto – inclusion text file too for yearly IR8A of employees salaries and all allowance and deductions. Simple to use and user friendly interface allows … Continue reading EZ Payroll →
Post a Comment
Read more

Accounting Best Practices for Small Business

In order to form out which method of accounting for small business, the most excellent way would be to analyze it in terms of the size of your business. It also depends on who would be preparing the books of accounts, would it be the proprietor himself, a full time accountant, accounting department or bookkeepers. When you choose the accounting package, it should be in line with the requirements and the comfort of the person who would be operating the software or working on the books of accounts. The cause for this is that the ability of the user should be in line with the type of Accounting services and the number of transactions done in year, in order to get the best results. For example, if you spend a lot of dollars spending on a complicated high end software, and your accountant is not aware of most of the features that could be used, they would not be able to make full use of it, thus even though you wanted the best for your business, you are really just miss utilizing you
1 comment
Read more