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Here's How We Helped a Dallas Based Retail Business Have the Modern Accounting System

Today’s fast-paced business environment is shaping the new age of highly connected and tech-savvy consumers. Technological advances are also changing the core nature of a retail business. As the primary nature of a retail business is fastly evolving to meet the rising demand, accounting and finance system often struggle to keep up the pace. More info: https://goo.gl/KR7rnd

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Here's How We Helped a Dallas Based Retail Business Have the Modern Accounting System

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  1. How we helped a Dallas-based Retail Business - A Case Study Today’s fast-paced business environment is shaping the new age of highly connected and tech- savvy consumers. Technological advances are also changing the core nature of a retail business. As the primary nature of a retail business is fastly evolving to meet the rising demand, accounting and finance system often struggle to keep up the pace. To Elaborate This, We have a Classic Case to Explain A couple of months back, a Dallas-based retail business, worried about increasing complexities to manage its finances and accounts contacted us. The owner of the retail business said that there are several key challenges that are leading to business loss, due to which he recently witnessed 40 percent decline in the revenue. He pointed out major complexities that his business is facing, and said that there is difficult to manage financial transactions, inventory tracking is complex and he often encounters interruptions while accessing QuickBooks. He further said that the present accounting system of his business needs an overhaul change, as the present accounting system is outdated and is forcing customers to unhappily return from the shop. (Ref: https://goo.gl/6R8mgz)

  2. We minutely looked at the accounting model of this Dallas-based retail business. And, advised hi? fe? s?art ideas that are ?apa?le to ?ake the a??ou?ti?g syste? of his ?usi?ess — ro?ust, fast and perfect for the new age consumers. Challenges Major challenges that we discovered while analyzing the accounting system of this Dallas-based retail business were worrisome. The primary reasons that were causing setbacks that we precisely figured out were outdated accounting software. This retail business was using QuickBooks Pro 2015 to manage accounting of its business. We analyzed that during the inception of this business, it was OK for the business to rely on this basic version of QuickBooks. However, as the business witnessed exponential growth, there was a need for a QuickBooks version that is loaded with industry-specific features. All in all, due to lack of understanding for the need of advanced QuickBooks version, a Dallas-based retail business faced following crisis: Unpaid Invoices Like other 64 percent SMBs, this retail business was also facing a crisis due to invoices that go unpaid. There was no mechanism to track overdue invoices, and maximum time; it was quite difficult for this business to get on-time payments. Mismanaged Inventories This Dallas-based retail business had to do a lot of manual workarounds to look after the large numbers of inventories coming in and going out from the business. Manual handling of inventories was lethargic and was also responsible for inaccurate reporting. Complex Price Management On several occasions such as festive seasons, this retail business like any other needed to change the pricing of different products and offer customized discounts, which was sometimes difficult to manage. The nasty price management of different products according to different classes was complex that resulted in a loss of customer’s trust. (Ref: https://goo.gl/6R8mgz)

  3. Complex Data Crunching As the number of consumers and vendors of these retail businesses was rapidly increasing, there was a need for the superior accounting system. There was a need for the accounting system that would precisely look into vendors list and also crunch data from heavy-sized financial reports and statements. However, due to the absence of such mechanism, it was quite difficult for this retail business to get insights into its daily financial transactions. Tough Calculation of Financial Reports As this Dallas-based retail business witnessed sudden growth, there was a need for an accounting system that was capable to automate and simplify complex accounting reports and systems. However, there was no such mechanism available due to which it was getting tough for the business to properly track its financial activities and also have all the key financial data at its fingertips. High IT Upfront Cost This business deployed QuickBooks Pro on its in-house server. Due to which there was unwanted IT upfront cost Technical Glitches and Unwanted Disruptions as QuickBooks Pro was being hosted on an in-house server this retail business was encountering with issues due to technical glitches, network downtime, data loss, etc. Such problems lead to unwanted disruptions and badly hampered the normal functioning of the business. After looking into these challenges of a Dallas-based retail business, we suggested two major changes. These two changes helped this retail business get industry-specific accounting features and tools. We also let this business get uninterrupted 24/7 access to QuickBooks, and that too at an economical pricing. Solutions 1. QuickBooks Desktop Pro to QuickBooks Desktop Enterprise The first major change that we advised to this Dallas-based retail business is to update its accounting software and get advanced QuickBooks Desktop Enterprise 18.0. QuickBooks Enterprise 18.0 consists of numerous industry-specific features for retail businesses. (Ref: https://goo.gl/6R8mgz)

  4. Top Features of QuickBooks Enterprise 18.0 for a Retail Business Advanced Inventory Management Advanced Inventory functionality of QuickBooks Enterprise 18.0 allows seamless management of a large number of inventories going in and coming out of the business. You no longer to do any manual work to manage inventory with QuickBooks Enterprise 18.0. Advanced Pricing Advanced Pricing function of QuickBooks Enterprise 18.0 lets you efficiently change the pricing of different products as based on classes, such as dates, name and more. Advanced Reporting Now, it’s easy to sort specific reports with the use of Advanced Reporting feature of this version of QuickBooks Enterprise. Easy Track of Sales Order Fulfillment You can now keep real-time tracking of worksheets of different sales order fulfillment with the help of scanner or android application. Multi-monitor Support With this new feature of QuickBooks Enterprise 18.0, you can use multiple monitors to access QuickBooks. 2. On-Premises Hosting to Cloud Hosting After the upgrade to the advanced version of QuickBooks Enterprise, we suggested the retail business to host QuickBooks Enterprise on the cloud server of Techarex Networks. QuickBooks Enterprise Hosting: How it helped Our Partner A Dallas-based retail business updated to QuickBooks Enterprise 18.0 and also accepted our advice of hosting it on our cloud server. By getting QuickBooks Enterprise hosting from Techarex Networks, our Dallas-based partner witnessed several advantages. ● A?yti?e, A?y?here a?d O? A?y De?i?e A??ess ● Ad?a??e Se?urity Co?plia??e for Data Se?urity ● Zero IT Do??ti?e ● No IT Upfro?t Cost (Ref: https://goo.gl/6R8mgz)

  5. ● 24/7 Support & More Click here to learn in-detail the advantages of QuickBooks Enterprise hosting that rebuild the accounting system of our partner. Conclusion QuickBooks Desktop Enterprise 18.0 and cloud technology together let this Dallas-based retail business take his accounting system to the next level. This business now has the most advanced mechanism to automate and simplify complex accounting and other related activities. To know more about QuickBooks Enterprise 18.0 or QuickBooks Enterprise hosting, feel free to contact us right now. We are the leading QuickBooks hosting provider, delivering comprehensive, innovative and affordable accounting and hosting solutions to SMBs across the United States. Thank You For QuickBooks Hosting Call Toll-Free: 1-855-909-3300 E-mail: support@techarex.net Or Visit: www.techarex.net (Ref: https://goo.gl/6R8mgz)

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