Advantages Of Using POS Accounting software
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 software modules.
No re-training – If you already have accounting software, you don’t have to learn another system or 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, whereas Accounting Companies will naturally focus on the design of the accounting. This isn’t always the case, but it’s true in most situations.
Real-time updates – If the POS accounting software system sends line item detail, then all information is updated instantly in real-time. So your accounts payables and general ledger transactions are posted as soon as the sale or receiving transaction is completed in the POS.
Learn one program – You only need to learn how to use one program.
Update once – You only load updates into one software program. So you don’t have to worry about making sure your POS is updated and supports the new version of your accounting software.
Quickly drill down – Sometimes you can drill down from your general ledger entries into transactions like invoices, receivables and inventory adjustments, making it really easy to trace information. For example, if you get audited by the sales tax policy, you can quickly reference back to the customer name, invoice number, and amount for every sales tax entry. This makes it easier to audit.
Easy configuration – You don’t have to worry about mapping account numbers or making sure two different programs are communicating properly.