Accounting integrations are slowly but surely finding their way into all sorts of industries. The retail and hospitality industry is recognising more and more the importance of keeping accounting efforts in the one place. As hospitality goes through a huge shift, accounting integrations are being utilized to sync data for sales, payroll, inventory and more. The retail industry has also already experienced significant transformation over the past years. Retailers often have e-commerce stores and products and inventory information is shared across various platforms. In many cases businesses are moving from offline stores to online stores. E-commerce is increasing steadily, and more customers prefer the convenience of online solutions. The increase in e-commerce has allowed retailers collect more and more data to offer the best possible service and to be across all customer and sales information within their store. Since most businesses also use multiple systems for sales purposes, it makes sense to use integrations that will help keep everything in one place.
Running a successful business isn't easy. It involves a lot of hard work, planning, strategic decision-making and more importantly, data analysis. Successful business owners know how crucial it is to find the right balance between focusing on day to day operations to collecting data and undertaking analysis. Your point-of-sale system is far more than just a glorified cash register and it should be looked at as a treasure chest that holds many secrets to achieving rapid business growth with POS reports.
Although various factors are changing the finance industry, the future of accounting and bookkeeping is very bright. While some may think otherwise, technology is only improving work practices, making accountants and bookkeepers more efficient than ever. Through the adoption of technology, it doesn’t mean they are less important or less relevant; however, it does mean that they must adapt to the changing landscape and acquire new skills.
Did you know that around 80% of new businesses fail within the first 18 months? Poor financial management is one of the main problems for these businesses. Why? The answer might be surprising - 53% of small business owners don't have an accountant, and they attempt to manage their money themselves.
Amaka partners with Square to deliver the official integration with MYOB that will help customers to aggregate sales data from every corner of their business.
POS systems are vital in the hospitality industry. Keeping track of sales is essential for maintaining a successful business. It’s a good idea to have all of this information and data in one place - it’s an even better idea to integrate your POS system with an accounting system. This keeps everything automated, quick, and easy to access. One example of such an integration is Revel POS and Xero accounting software (Revel Xero). Its three key features include sales integration, purchase order integration and payroll integration. Let’s go a bit deeper into each feature one-by-one.
Adaptation is the key to success!
Point of sale (POS) systems drastically change the way businesses around the world operate. Hospitality businesses are no longer using traditional methods to track their daily revenue, and are instead turning to POS options to access data around payments, labor, and product performance. With POS come spectacular integrations to make your life even easier. Integrations give users the ability to combine external software services with their own POS software, saving businesses and employees both time and money.