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Sage 300 ERP's: Retail Accounting Capabilities

Accounting is evolving with the times just like marketing, employee recruiting and automated processing, and so it is imperative that your accountant utilizes the latest software and data management systems to keep your financials up to date and up to speed. Sage 300 ERP is a multi-functional platform that has an array of modules for accounting, budgeting, and growth planning that use the cloud and analytics to generate reports. Effectively managing the books and allocating funds for various purchasing and more. Inventory management has been a long and arduous task in the past, but by using Sage 300 ERP, our tax specialists and accountants can cut down on the time it takes to do this.

Sage 300 ERP has an easy-to-navigate general ledger that is complete with accurate balance sheets, P&L statements, and data are taken from its business intelligence (BI) capabilities that lets our team of CPAs you know the current state of your cash flow. Our Atlanta CPAs are highly experienced in creating and analyzing general ledgers and are able to explain what the numbers mean in layman's terms. The Sage 300 ERP cloud has printable reports shown on the general ledger interface in pie charts, graphs, and information on inventory levels and customer orders.

For retailers, wholesalers, manufacturers and other businesses that purchase a lot of inventory, Sage 300 ERP accounts payable module allow for easy creation of new purchase orders and vendor lists. With integration into business bank accounts, it's possible to set up automatic or timely payments to keep outstanding debt and unpaid invoices down to a minimum. It can also keep track of vendor invoice taxes and make sure your current cash flow is at a high enough level to be meeting purchasing expenses. The accounts receivable module can also be set up similarly to keep track of customer orders, received payments and outstanding amounts they owe, and you can send customers payment reminders and detailed receipts that are quickly generated.

When it comes to tax benefits and being able to write off deductions for fixed assets, Sage 300 ERP has this capability from detailing their value up to keeping photos and records of them. The process is even easier for tax specialists and accountants with its compliance system that follows the GAAP, MACRS, ACRS and IRS rules on reporting fixed assets. This includes detailing an asset's depreciation, relocating it to another part of your company, and protect against asset loss with sophisticated tracking enabled by Sage 300 ERP.

What else can Sage 300 ERP in the cloud do for you? As you're ready to open more retail stores and grow your customer base, you can easily transfer your account data between stores and other accounts using the G/L Consolidations module. And not only does Sage improve your cash flow amounts by speeding up payments you receive by credit card transactions, the Sage 300 multi currency module is able to handle transactions from practically any foreign currency. If you're ready to take complete control of your retail operations and make income forecasts easier, Fusion CPA’s knowledgeable accountants are able to help you.

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This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.