Utilize Accounting Software That’s Built-In And Fully Integrated
Some POS companies will offer their own accounts payable and general ledger software that’s tightly integrated and built into the POS accounting software software.
Some of the advantages of built-in (integrated) accounting include:
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 accounting software.
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 accounting software 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 police, 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.