Sage Accounting is a type of accounting software that works from anywhere, online. Shops and retail businesses typically use Sage Accounting to work on their books and control their cash flow. It will help you track your income and expenses while spending less time on financial admin.
Retail businesses deal with sales, customer support and admin, which can be time-consuming. Sage Accounting will help you review your shop's numbers regularly. You can also snap and capture receipts related to your expenses as you go directly into app.
Retail accounting describes an inventory valuation technique often used by retailers. Unlike cost accounting for inventory, it values stock or inventory based on the selling price rather than an acquisition price.
An accountant can help you check your books. They can also advise about how much tax you should pay, in the most efficient way possible. Sage Accounting makes is easy to collaborate with your accountant, securely.
Use accounting software. It's more reliable and accurate than spreadsheets or paper processes. It will sync transactions from your business bank account automatically. If the transaction doesn't come out of your bank account, snap and capture the receipts with your phone. Apps like AutoEntry are ideal for this. Review your retail store books at least once a week, month and quarter.