Reduce the manual work of Retail store accounting, eliminate reliance on spreadsheets, automate financial reporting, and improve visibility of the business. The built-in capabilities of Microsoft Dynamics NAV Accounting Software along with the “Quick Start” and additional features added by Computer Business Solutions makes it easier to run and increase the profitability of Retail operations. Benefits are even more significant for stores with multiple locations or franchises.
Retail Accounting challenges solved. See which applies to your business:
Quick Start Company for Speedy Implementation of smaller stores
The Retail Quick Start Company Template gets you up and running on Microsoft Dynamics NAV with minimal setup on your part. Retail company template includes:
- Preconfigured setup tables
- Retail chart of accounts
- Prebuilt recurring journal entries to record DSRs if you do not choose to automate the interface with your POS system
- Prebuilt financial statements – profit and loss and balance sheets
- Utilities to import vendors, catering customers, and opening balances
- Customized menu for quick access to functions most used by retail stores
- All settings are easily changed to fit your unique needs.
Financial Analysis & Reporting Flexibility
- Generate financials by week, four week period, month, or any date range – even when different than previously defined accounting periods.
- Rapidly analyze revenue & cost of sales by Store, Manager, Product Line, etc.
- Report on Promotions, Coupons, Guest Counts, etc.
- Easily validate local cash draws and store purchases on credit.
- Allocate vendor bills that span accounting periods so the correct portion is booked to each related accounting period.
- These features are available with or without a Point of Sale (POS) back office system, and without expanding the G/L accounts.
Seamlessly Connect POS systems to accounting
- Avoid double keying data from each location into accounting.
- Seamlessly connect POS or POS back office systems with Microsoft Dynamics NAV accounting.
- Daily sales and purchase transactions automatically transferred to Dynamics NAV.
- Information from the POS can then be analyzed in detail or summary levels.
Automatic Bank and Credit Card Reconciliation with 3-way matching
- Help reduce or prevent delayed deposits and cash theft.
- Electronically perform daily, weekly, and monthly reconciliation of each store’s sales reporting and bank deposits.
- Download from bank automatically reconciles store deposits, matches and clears them in the bank rec. if appropriate.
- Download from credit card processor automatically reconciles credit card settlements.
- Electronic bank statement files may include transactions that have not yet been financially recorded and posted. Our bank reconciliation module provides functionalities to process these transactions directly from statement files.
- Process bank fees and charges, generating the appropriate accounting entries.
- Process incoming electronic fund transfers from corporate customers or catered sales.
- Process automatic electronic payments to vendors.
Franchisee Billing Automation
- Track both gross franchisee store sales as well as franchisor net revenue (marketing, co-op fees).
- Automatically bill franchisees based on reported sales.
- For non-reporting franchisees, automatically estimate sales based on history, calculate and invoice franchisor fees, and accrue receivable.
- System reverses accrued receivable and bills actual franchise fees when actual sales are reported.