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Accounting

 

Key Advantages of ArtsMagna's POS Business Retail Management Software Integrated Accounting:

  1. Decrease labor costs involved in maintaining company books
  2. Accurate posting and balancing of sales data
  3. Detailed GL activity by both store and department level versus summary posting
  4. Matching of AP invoicing to store level receiving, ensure proper pricing from Vendor
  5. Maintain one set of Vendor and Customer records; this will prevent the synchronizing issues non-integrated products have.
  6. One company solution versus support from multiple 3rd parties
  7. New versions are seamlessly integrated. 3rd party accounting exports have to be re-engineered upon each new release from both software companies.
  8. GL and AP components don't interface with other modules in the 3rd party applications. Most accounting applications already have inventory and invoicing components and this complicates the passing of data back and forth. ArtsMagna's accounting only contains the necessary modules as part of our full retail software suite.

ArtsMagna's powerful Accounting and Sales Order Processing package is fully integrated into one seamless system. The modules share the same database and user interface. The Accounting package features Accounts Receivable, Accounts Payable, General Ledger, and multi % GST/VAT. This adds up to a simple, affordable, elegant and robust system for retail, mail order, wholesale, and e-commerce sales channels.

Every business needs accounting, and strong internal accounting controls are the core of all successful businesses. A fully integrated accounting solution is crucial to the successful implementation of any retail management system. The word integrated is often thrown around very loosely by companies offering retail management systems. What these companies often mean when they say they have an integrated accounting solution is that their software links to a third-party accounting software package and passes basic general ledger totals to that third party software.

In the real world, however, this level of integration is rarely acceptable or useful to anyone who understands accounting. Even if a software package passes vendor or customer information, or even invoice totals for accounts payable from receiving, there is much more to consider when it comes to being fully integrated and functional from an accounting standpoint. When you are dealing with two separate packages, there are several potential problems:

  • The software packages have different user interfaces and separate databases (often with duplicate information in each). The packages are incapable of sharing all information between each other.
  • As a result, the accounting system needs to be manually updated from the retail management system. Manual updates are time consuming and introduce a far greater possibility of error.
  • This manual "Integration" opens up the possibility of human error.
  • There are two systems to maintain, two systems to learn and two to service.
  • Software updates to either system can "break" the accounting "link".

With ArtsMagna®, you are dealing with one retail management system where accounting is a seamless part of the entire system.

  • The Accounting is fully integrated at the database level and ties to all areas of the system. For example, you only need to enter a customer record once, and that customer's data is available throughout the system. Likewise, the vendor record is shared by purchasing and Accounts Payable, and receiving information is passed directly to Accounts Payable.
  • Detailed general ledger information is accumulated by the Accounting rather than just basic summary totals.
  • You'll never run into a situation where data from one system can't be entered into another or the data fields are different sizes. The data all matches, because there is only one database.
  • The user interface between the Accounting system and the Retail Management system is the same, because there is only one system.
  • There is only one company to support both applications fully, including program enhancements and software maintenance.

All of the parts of ArtsMagna® - including Accounting - are designed to work together and are tested together. With third-party accounting packages and "links", you always run the risk of something breaking, since the software developers are not working together closely (if at all). And you will almost never get complete data compatibility between the two systems since they were designed and are maintained independent of each other.

A fully integrated program is only a total win if that accounting software is as good as or better than the third-party packages being offered in the same general price range for the same general market. The ArtsMagna® Accounting Series has five years and over 30 man-years invested in its development. It is a modern, feature-rich system that offers capabilities only found in some much more expensive accounting software packages. In addition, the accounting software is incredibly easy to use, as we have taken advantage of up-to-the-minute user interface design. We have also taken extra steps to make the software something that any retailer could use, while still offering the serious accountant the power he or she needs to gather required information from the system. Much of this capability is based on the level of integration between the accounting software and the rest of the system. ArtsMagna® offers the best of both worlds in that we have, arguably, the best accounting solution for the small retailer along with the highest possible level of integration.

 Not convinced ? ... see and try it for yourself by clicking the following links, it will be well worth your time.

AP/AR Video

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