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Do all retail shops need an accounting software?
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[QUOTE="King bell, post: 334574, member: 75687"] Consequently, not all retail shops are forced to have accounting software. However, it has a number of advantages and is highly suggested for this purpose. When using accounting software in the business of retailing, some of these advantages are: 1. Financial management: Sales, expenditures and other financial transactions could be easily tracked by retailers through their accounting software. As such, tasks like record sales, maintain inventory, monitor cash flow or generate financial reports become easier. 2. Efficiency and accuracy in bookkeeping: Manual book keeping may consume a lot of time as well as being prone to errors. Accounting software automates many activities thus reducing chances for mistakes while giving more precise financial information. 3. Control over inventory: There are various accounting software’s that have inventory management features. Retailers can check stock levels constantly and measure product performance against predetermined benchmarks so as to optimize inventory control and make informed buying choices through report generation systems. [/QUOTE]
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Do all retail shops need an accounting software?
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