When you’re working in a fast-paced industry like retail, you need a place where you can effectively manage your stock, cash flow and invoices, so that you can focus on delighting your customers. Sage Accounting does just that, helping retailers, e-tailers and shopkeepers:

• Get a clear view of stock so that you can ensure your inventory isn’t too big or too small
• Get paid faster by automating and setting up recurring invoices
• Stay in control by viewing a cash flow forecast with real-time insights
• Manage your finances no matter where you are on your mobile
• Review orders that are in the pipeline and pending
• Save hours of time by reducing your admin burden
• Connect your banks and import transactions from your points of sale
• Pay employees on time, every time
• Ensure compliance with VAT returns to HMRC
• Give your accountant or bookkeeper permission to view your finances and collaborate with them in real-time

Retail business accounting is a technique that values all stock based on each item’s selling price rather than the acquisition price. This method gives you a way to keep track of costs to see losses and what’s left over. And they use the estimated retail cost to work out the value of items in the inventory.

With Sage Accounting software for retail shops, you can collaborate securely with your accountant in real-time. Your accountant will help you check your shop's books before submitting a tax return to HMRC. They can also advise on how much tax you should pay.

Use point of sale accounting software to manage accounts in a more efficient and accurate way.  Sage Accounting will sync transactions from your business bank account automatically. You can snap and capture receipts on your phone as soon as you get them while you’re on the go using AutoEntry. And you can review your retail store books each week, month or quarter. Work with an accountant before a return to HMRC.

There are plenty of ways you can save time with Sage Accounting. Here are some examples:

Automate manual tasks

By automating tasks, you can cut down the amount of time you spend on manual data entry to save money and focus on the areas of the business that need the most attention.

• Set up recurring invoices to avoid starting from scratch each time
• Add invoices in bulk to save time
• Get Google Drive integration to get automatic copies of invoices and quotes online
• Connect your bank and let transactions flow into Sage Accounting for easy reconciliation
• Make sure that you’ve always got the right amount of stock - quickly view your inventory and create reorder levels and quantities
• Get inventory reports to see stock information in seconds

AutoEntry

Spend less time on admin and more time on your retail work with a paperless way to manage receipts. Simply snap, scan or email a photo of your receipts, bank transactions, invoices or other documents for your Sage accounts using AutoEntry. Then categorise, publish and share them with your accountant through Sage Accounting. AutoEntry captures tax summaries and full line item details including description, quantity and unit price so it’s an easy way to log the information you need, when you need it.

Other ways to save time:

• Use dashboards to view your financial data instantly
• Use real-time data to collaborate faster with accountants or bookkeepers
• Create and send invoices, easily follow up with clients on outstanding invoices and track the health of your business in real-time from anywhere with the mobile app
• See a live running total of your tax liabilities, plan ahead and submit to HMRC
• View cash flow forecasts in real-time to make faster business decisions