There are several reasons why businesses of all sizes increasingly rely on POS systems that integrate with accounting platforms such as QuickBooks. For small businesses, this software integration may be even more important, making it easier and more efficient to balance the books each month.
What does integration entail? Are there valid reasons to integrate POS systems with QuickBooks and other business management tools?
Let’s take a look.
Available as downloadable software and as an online platform, QuickBooks is one of the most popular accounting tools available for businesses of all sizes. Add your sales and expenses, and the software does all the bookkeeping for you. You can even use it for tax prep.
The challenge is inputting the sales and expense data into the system. This may be time-consuming for small business owners, and it takes them away from working on more important revenue-generating tasks.
However, with the right POS system, it’s possible to integrate with QuickBooks so that all sales, expenses, payments, and taxes are automatically added without you having to toggle between two or more systems. For anyone on the team who currently balances the books, this benefit alone makes integration worth it.
Integration helps you get more time back in your day, but there are several other advantages of using QuickBooks with your POS system.
With a QuickBooks point of sale integration, recordkeeping becomes more efficient. That’s because everything happens instantly and automatically in the back end, without having to manually transfer data from one platform to another. This allows you to redirect your focus to more important tasks, like launching a loyalty program or planning your next marketing campaign.
Saved time translates to saved money. Wages that you may pay yourself or another person to balance the books can now be reappropriated for more value-added activities instead of mundane tasks like manual data entry or formatting spreadsheets.
Using a POS system with a QuickBooks integration helps lead to more accurate records with fewer mistakes. If you’re like most business owners, you likely introduce discounts, promotions, and other incentives. These changes can make recordkeeping more difficult if you’re constantly updating two silos – i.e., your sales platform and your accounting software.
An accounting software integration means any changes you make in one location are instantly reflected in the other. Another reason why integration leads to improved accuracy is because you’re removing the opportunity for human error from the process. With automation, you’re leveraging the power of software technology to do all the heavy lifting for you.
As mentioned before, your accounting books and your business sales exist in silos in the absence of software integration. When enabling credit card processing for QuickBooks within your POS system, you’re creating a unified ecosystem that helps with better analytics and reporting tools, whether you operate one location or multiple storefronts.
For example, you can easily run reports to help you quickly spot top salespeople, best-selling items, or the busiest times of day. You can then share this information with the rest of your team. Doing so allows you all to make better-informed decisions to achieve your business goals – from increasing sales to reducing costs to analyzing the performance of recent marketing campaigns.
Clover’s POS solutions integrate seamlessly with many of the most popular business tools available – including QuickBooks. However, we also support many third-party accounting, invoicing, payroll, and bookkeeping platforms – all of which are available on the Clover App Market.
To learn more about Clover POS systems that integrate with QuickBooks online or offline, schedule a free and personalized demo with our sales team today.