When you ask most small business owners about the benefits of a Point of Sales system, the most common answers you’re likely to get include simplified customer transactions and inventory management. Only a few will tell you that it makes accounting and bookkeeping much simpler. Integrating accounting software in your POS system will surely take a business to a whole new level of excellence. Here are the main reasons to integrate accounting software in your POS system:

1.     Point of Sales systems automatically updates inventory

POS systems have proven to ensure efficiency in inventory control. And when you integrate accounting software in it, you get a lot more benefits. When you fill out a purchase order, the accounting software automatically updates your inventory to show specific products that are being delivered, including delivery time. This allows you to keep track of every inventory delivered to curb costs that may result from inventory theft. With minute-by-minute information sharing, accounting software lets you determine the value of the current inventory in only a matter of seconds.

Suggested articles: Cloud Based Point of Sale System

2.     Point of Sales systems ensure efficient sales tax deduction

Accounting software ensures that once a product is sold, the necessary taxes and other costs are deducted instantly. You will operate your business with a piece of mind knowing that the taxman will never knock on your door any day.

3.     You get accurate sales reporting data with Point of Sales systems

Once you integrate Accounting software in your POS system, your daily sales start to be recorded in real time. This means that when a sale is made, the software receives the information and updates your financial records instantly. The developers of the accounting software have made integration with POS system very easy. You will not need an expert to do it for you, plus you won’t experience downtime during the integration process.

4.     Point of sales systems make updating general ledger accounts much easier

Integration of accounting software into your POS systems alleviates the energy-draining task of manually entering general ledger accounts information into the system. The accounting software initiates instant updates of accounts receivable, accounts payable, inventory and customer deposits in seconds. This allows you to check the balance of your general ledger account instantly without waiting for the end of the day to receive reports, which might be doctored to align with the day’s sales.

If you haven’t integrated accounting software into your POS restaurant or POS retail system, you’re missing out on the opportunity to streamline your business financials. Make the great leap today.