Running a retail business is undoubtedly about more than simply selling products. In order to run a business, retailers need to manage cash flow, handle payroll, stock inventory, price products, pay bills and accept credit card transactions. However, this is not the end of their work within the organization. Fortunately, QuickBooks Enterprise consists of many functions and features that retailers need to run the business successfully. In addition to that, it integrates with other apps that help as well. QuickBooks Enterprise is one of the best QuickBooks software that helps to run a business smoothly.
Here are some of the features of QuickBooks Enterprise for Retail businesses that will take your business to another level:
1) Retail Chart of Accounts
For tracking where your revenue is coming from, what the company owns and owes, and where your expenses are going, having a proper chart of accounts for your retail business is crucial. Many retailers have similar accounts such as Advertising Expenses, Rent, Utilities, Insurance, Product Sales, Sales Discounts, and more. You don’t have to worry about creating a chart of accounts from scratch with QuickBooks UAE. The software comes preloaded with many of the accounts retailers need. You can easily customize and organize the template chart of accounts in order to display the information you need in the way you want to see it.
2) Data Level Permissions
Retail businesses are very easy to scale. It allows business owners to grow the business without doing all of the work themselves by hiring employees and delegating many essential tasks. However, few retailers provide access to all of their financial data to every employee within the organization. You can set user permissions for each role in QuickBooks Enterprise UAE, and customized access to the specific data, customers, and vendors. That’s why QuickBooks Enterprise makes it easy to create different user roles as well as permission levels. Besides that, the software comes preloaded with predefined user role templates if you’re not sure where to start.
3) Advanced Pricing
One of the most important parts of running a successful retail business is pricing. That is why the Platinum and Diamond subscription levels of QuickBooks Enterprise include Advanced Pricing. It gives retailers the flexibility to control, customize, and automate their pricing. By including advanced pricing, you can do certain things such as:
- Entice volume sales by establishing and automating quantity discounts at breakpoints you select
- Set up special promotions well in advance of sales and apply them to all customers
- At the time of the transaction, strictly enforce pricing rules or give employees the flexibility to override pricing rules
- Track and apply sales tax automatically, even when sales tax rates change
- Create manufacturer-specific markdowns and apply them to a specific date range
- Tie your pricing to a margin or markup cost so if suppliers change your wholesale costs
- Get precise in your pricing by setting prices based on location, customer, vendor, or other classes
4) Advanced Inventory
Another crucial aspect of running a successful retail business is Inventory Management. Proper inventory management helps ensure the items your customers want are always available. It does not carry excess stock during slower sales months. QuickBooks Enterprise Dubai comes with Advanced Inventory. It gives retailers a clearer view of their inventory management. Things you can do with Advanced Inventory are:
- Easily transfer products from one location to another and track inventory across multiple warehouses
- Track products by lot number or serial number
- Use the First In, First Out (FIFO) costing approach instead of the average costing approach
- Print barcode labels with sales prices so customers and employees can easily find prices
- Automate receiving, speed up the order picking process, and reduce data entry errors
- Consolidate vendor information in one place, making it easy to find vendor information
- Track stock by bin, shelf, or rack within a warehouse to fund products quickly
- Manage your entire pick, pack, and ship process from one central dashboard
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5) Integration with Salesforce CRM
A good retail CRM system helps the business better understand customers’ needs and concerns. It can help drive customer loyalty, nurture relationships, and create repeat customers. Besides that, it gives retail businesses full visibility into how well operations are running as well as identifying areas for improvement. QuickBooks Enterprise integrates with Salesforce CRM making it the best QuickBooks Dubai. The accounting software and CRM share accounting and sales data and customer information. It reduces duplicate data entry and drives better sales forecasts.
6) Enhanced Payroll
Managing payroll for a retail business can come with various twists and challenges. During the holiday season, retailers might staff up with additional full- or part-time workers, move employees between multiple store locations, and have high turnover rates. The QuickBooks Enterprise include Enhanced Payroll in the software. This feature can help your retail business save time and money.
It files state and federal payroll tax reports, creates unlimited paychecks, manages payroll for an unlimited number of employees, and takes advantage of free direct deposit. With Assisted Payroll at just $1 per employee per pay period, A QuickBooks Enterprise Diamond subscription plan takes payroll a step further. This feature allows business owners to issue a paycheck within minutes. QuickBooks will also handle state and federal payroll tax filings and deposits for you. With a guarantee that your filings will be on-time and accurate, quarterly and year-end filings are done.
QuickBooks Enterprise Retail Edition offers robust sales and inventory features. It makes the software ideal for large retailers with more complex business as well as reporting needs. Besides that, the software makes it easy to monitor cash flow, run crucial reports, record and reconcile transactions, and collect required tax information because it’s designed with retailers in mind. This QuickBooks software helps busy retailers better manage the bottom line.
And, Peniel Computer is the best QuickBooks dealer all over the Middle East. From QuickBooks Enterprise UAE to QuickBooks Enterprise Dubai, we provide all services regarding QuickBooks Enterprise. QuickBooks Software Setup, Support, Advance Inventory, Password, Training, Installation, free demo, free support, and more. We are there for you at every stage. So, contact us back and get a free demo of the software.