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STORIS: E-Commerce Inventory Management And Financial Reporting

The retail industry in the US was recorded to be worth more than a trillion dollars in 2017. Hence, it is no surprise that the retail sector is at the forefront of innovations every year. Leading this growth in technology are e-commerce stores around the world.

There are more than 860,000 e-commerce stores around the world servicing hundreds, if not thousands, of different industries. Because of the variations among these industries, several issues arise in the management and accounting for these businesses. Fortunately, e-commerce platforms like STORIS Retail Software Solution can help you run your business from the comfort of your office.

STORIS offers a long list of outstanding features that can help you control many aspects of your business. From financial reports to reliable payment gateways, and inventory management to seamless integrations, you can trust STORIS to make your life easier.

Real-Time Inventory Management

If your online store sells goods, then you are most likely familiar with the concept of inventory. If not, to put it simply, inventory is the number of goods you currently have that are ready to be sold. As an e-commerce business, you must keep track of the movement and availability of your inventory.

STORIS offers an advanced inventory management system that allows you to see the real-time values of your stocks. With the STORIS inventory management system, you can rest assured that you have enough goods to satisfy your customer’s needs. The feature also applies a Just-In-Time system to help you determine the best time to restock certain products, preventing both under and overstocks. You can also integrate barcode scanners to make it easier to input the details of your on-hand goods.

Our experienced team of e-commerce financial advisers can help you create reports to further drill down on the inflow and outflow of your inventory. Fusion CPA utilizes the latest technologies and methods to provide our services. Our Atlanta retail bookkeepers can also help you reconcile your inventory counts to detect any shortages.

A Wide Range Of Financial Reports

Financial reports are the reports cards for your business. They show how your business performed and where it stands during a period. Great financial statements can give you a clear path on how you can further improve and grow your business. Luckily, STORIS offers just that. Some of STORIS portfolio of financial reports includes:

  • Accounts Payable Reporting - gives you a clear vision of your outstanding debts to help you avoid bad credit

  • Accounts Receivable Reporting - lets you see all the amounts that you can expect to receive from sources such as payments, deposits, outstanding gift certificates, credits, and more.

  • Profit And Loss - shows you how much your business grew during a period

  • Balance Sheets - a summary of your company’s assets, liabilities, and equities

Simplify You Accounting With STORIS' QuickBooks Integration

QuickBooks is one of the top accounting software in the world. It offers a wide range of e-commerce accounting features that can help you monitor and advance your e-commerce business. Combine these features with STORIS' eCommerce platform, and you’ll see your business grow in no time.

Integrating your QuickBooks account with STORIS will automatically record any general ledger transactions on both platforms. This feature will reduce the amount of time you spend updating your finances. It will also synchronize your vendor information to help you maintain a more accurate accounts payable database.

STORIS's QuickBooks integration is only available through QuickBooks desktop platform. The integration is also done through STORIS' TPA (Third-Party Accounting) interface. If you’re unsure of how to do this, our professional e-commerce CPAs can help you connect STORIS with your QuickBooks account.

Here at Fusion CPA, we also offer effective e-commerce CFO advisory services to help you decide on crucial aspects of your business. If you need help with your e-commerce bookkeeping, you can trust our experienced e-commerce accountants to do this for you. If you want to learn more about how Fusion CPA can help your business succeed, call us now!

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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.