Making Money-Profit/Loss and Cash Flow From POS Software With Built In Financials
A small retailer should be worried about selling and not being an accountant. Seamless accounting that directly ties in to your income and cost of goods accounts, allows you to purchase, sell, update inventory in real time and send all the numbers back to your small business financial back-end freeing you of the cumbersome task of double entry by manipulating General Ledger code. You can then run your P/L’s for any period you want from one day, one week or any combination. With ProphetLine POS Software you can even run departmental or class P/L’s. Accounting is not just about taxes, it also goes hand in hand with your inventory stocking levels and future performance.
Having money in your checking account doesn’t mean you are profitable. It could mean you haven’t paid all your bills so you have a little left over cash. Cash and profit are two different concepts. Profit is the end result of using your P/L’s, retail stock ledger and open to buy planning wisely. So the next time you ask your POS Software provider how to squeeze a little more money out of your retail management system, you can ask them if they do all of these necessary functions.