Intuit is a premium software provider and has been in the market for some time. Including the revolutionary QuickBooks, which completely changed the accounting industry’s dynamics, has provided various high-end software for different business uses.
One such software is the QuickBooks POS. It is an advanced retail solution with tremendous functionalities. This application empowers you to transcend traditional limitations like limited transaction options, local inventory management, more inadequate organizational security, etc., and modernize your retail outlook.
With QuickBooks POS, you can monitor your inventory stock in real-time, offer better discount rates, create customized reports, and do much more.
Let's look at some of those reasons in detail which will convince you why retailers need QuickBooks POS:
Rapid sales management
When you are running a retail outlet, it is necessary to record your sales accurately. If not done proficiently, it could lead to mismanagement of stocks, incorrect item pricing, and potential disruption of your sales channel. However, QuickBooks POS has dynamic functionalities that optimize your sales department and ease your selling experience.
It has an easy-to-use user interface and offers multiple ways of ringing up sales. You can rapidly ring up the sales using the items' numbers/names or items with a barcode and record sales utilizing the barcode scanner. Also, you can manage sales on the go by using your android/iOS tablet or smartphone for the days when your checkouts are crowded.
Multiple transaction options
Earlier, handling payment was simple as there were limited options for making payments, which meant lesser processing. Nowadays, customers can make their payments through various modes, including cash, credit cards, Apple Pay, Samsung Pay, etc. It often makes tracking funds complex.
POS solution is versatile and can efficiently process different modes of transactions to ease this process. It provides multiple ways for managing payments and helps you effortlessly cash in on every order.
This retail software complies with EMV requirements and supports different types of debit and credit cards. You can easily use options like Visa or Europay with assured data safety.
Apart from cash and checks, you can accept cashless transactions via portals like Google Pay as well. For making payments on the go, you can use QuickBooks POS mobile sync and the free QuickBooks GoPayment app.
Precise inventory control
Inventories are the heart and soul of any retail business. It is unwise to use conventional methods to track your inventory. Most existing practices are uneconomical, lack flexibility, and are relatively inefficient.
You may have to manage and update your inventory periodically, whether daily, weekly, or at some other interval. It is time-consuming and is error-prone. Not to mention cumbersome. However, with QuickBooks POS, you can implement the required modern approach and resourcefully manage your inventories.
It provides real-time stock management, with any item deduction occurring at the POS terminal being reflected instantly in the database. You can even pre-set inventory levels for different items and be notified timely to prevent yourself from running out of them. For further assurance of item availability, you can create a predictive inventory using analytics. Also, you can manage multiple inventory lists, such as for various stores, inter-change resources between them, or track packages using UPCs or serial numbers.
Improved customer service
Customers are the lifeline for any business and significantly influence their finances. So, it is only natural to implement measures that can enhance your customer's experience and give them quality retail service. The usage of QuickBooks POS empowers you to provide a better consumer experience and exponentially increase your sales output.
It allows you to integrate their details while ringing up the sale. Using it, you can conveniently reach out to them during discount seasons or track your loyal customers. Also, since you have a predictive inventory at hand, you can stock up on their favorite items and never leave them disappointed.
Employee management
Apart from customers, a retail outlet needs to manage their employees efficiently as well. They are the vital cogs of the internal machinery and are necessary for an effective retail outcome. Hence, to ensure overall employee satisfaction, retailers need to manage different employee-related tasks like managing their payroll, tracking their activities, etc.
QuickBooks POS has a robust feature set that provides a handy solution for all employee-associated needs. With its Pro and Multi-store version, retailers can easily monitor working hours and assess employee performance. Retailers can also monitor individual transactions performed by their employees, assign system access based on their organizational level or even calculate their commission based on their eligibility.
Easy QuickBooks synchronization
Running a retail chain comes with its share of responsibilities. You have to handle customers, manage your employees, ensure item availability, and also complete documentation-related works like managing taxes, filing invoices, and much more. While you have QuickBooks accounting software for filing your taxes, the main problem lies with data synchronization.
Your existing POS solution may not be compatible with your QuickBooks application, thus requiring you to re-enter your financial data manually. QuickBooks POS presents no such constraints and gets easily integrated with the QuickBooks desktop. All you need is to set up the automatic sync, and QB POS will automatically update data with each sync cycle. Thus, you can altogether avoid manually re-typing data and prevent critical mistakes.
Discount generation & management
From attractive advertising campaigns to ingenious marketing strategies, every business deploys different methods to bring in more customers. Among these methods, offering discounts is another way companies aim to broaden their customer base and improve their sales. QuickBooks POS helps you in generating better discounts and also efficiently manage them.
It has tools to optimize item pricing, which helps you to set reasonable discount rates. Using sales analytics and inventory forecasting, you can view the items which are mostly preferred by the buyers and offer discounts accordingly. Also, since QuickBooks POS can integrate customer's credentials during sales, you can even provide personalized discount rates, limited-time specials for their birthdays, or even manage your loyalty-discount programs.
Conclusion
QuickBooks POS is a premium retail solution and hosting QuickBooks POS will come up with a blockbuster feature set. You can forecast inventory requirements, generate customizable gift cards, centralized inventory management, and bring in more sales. Also, it helps you in significantly improving your customers' experience and offer quality service. So next time you need a complete package for all your retail needs, make sure you remember the QuickBooks POS.
