Retailers, like all other business people, have a need for suitable business accounting software. Retailers are characterized by the great variety of products that they sell to customers. Consequently, it’s difficult to keep up with which products are being sold to which customers. Accounting software will help the retail business owner to analyze, summarize, and report financial data to create balance sheets, profit/loss statements, and other financial reports.
Accounting software can also help the retail business owner keep up with many of each item is sold, which products sell well and which ones don’t, how much of each item to keep in stock, and which types of products sell better during particular times of year.
Accounting software will process all data that you input, and will create statistics that will allow you to make good business decisions. You could just do all manually, of course, but accounting software can obviously save you time (and thus money), so that you can focus on being a businessman instead of a statistician. The more specialized retail accounting software was created by industry professionals with the particular needs of the retail business owner in mind.
Business accounting software will include at least three functions a general ledger, an accounts payable function, and an accounts receivable function.
Below are listed some prominent providers and brands:
Low end accounting software for personal users and small businesses:
Best Software: Peachtree
MYOB Software: MYOB Plus for Windows
Microsoft: Small Business Manager
Intuit: QuickBooks Online
If you wish to spend a bit more money, following is a list of reasonably priced accounting software with even better functionality:
Intuit: QuickBooks Pro
Best Software: Vision Point 2000, MAS 90, MAS 200, and Business Vision 32
ACCPAC International’s ACCPAC Pro Series
If you want to purchase accounting software for a medium-sized business (more than 500 employees), you might want to consider the following:
SouthWare: SouthWare Excellence Series
Microsoft: Great Plains Accounting Software, Navision Accounting Software
Best Software: ACCPAC Advantage Series (Corporate Edition)
