Anyone who runs a retail business will know how important it is to be adaptable. You need to keep an eye not only on current trends and where customer demand lies, but on the way those things could change in the future.
That’s why it’s essential to feel that you’re on top of the day-to-day running of your business, and all the admin that comes with it, so that you have the headspace to think about what’s next.
Switching to Xero online accounting software enables you to do just that – it takes those time-consuming, repetitive tasks off your plate, and helps you to concentrate on developing your business.
Whether you’re running a traditional, bricks-and-mortar shop or an ecommerce store, Xero can transform the way you manage your finances.
Save admin time
You didn’t start your business so you could spend hours on paperwork, so why not just automate it?
Xero can carry out many of the manual accounting tasks that would take up hours of your time otherwise, from bank reconciliation to sending invoices.
It displays information in real-time, so you can precisely monitor your business’s performance. This can also help you to pick up on any seasonal patterns and work out which times of the year to focus your promotions on.
You can view this information from anywhere – on a phone, tablet, laptop or PC – so you’re not limited to running your business from the shop floor.
What’s more, Xero also allows for multiple users and collaborative working. You can add members of staff to the account with different permission levels, and you can give us access so we can talk you through the numbers.
Sync with retail apps
One of the really useful things about Xero is that it doesn’t just work in isolation. It can link up with a wide range of add-on apps, allowing you to efficiently manage every area of your business.
Xero can easily integrate with point-of-sale (POS) systems like Vend, Shopify, iZettle, Square and more, so you’ll get updates on your finances – and on inventory data – the instant a sale is made.
With this setup, instead of a traditional till, you have the freedom to sell from anywhere with minimal equipment. It’s perfect for taking your business to new locations like market stalls or pop-up shops, as well as making things quicker and easier in your usual premises.
You can also link Xero with employee management apps like Deputy, to help you put your rotas together, manage shifts, communicate with staff, and track time.
There are various other apps to choose from, whether you’re looking for inventory management or expenses. If you’re not sure which one to pick, we’re also happy to offer recommendations.
Talk to us
Evans & Partners has been working with Xero since 2010, and as certified specialists for retail and ecommerce, we know how much of a difference it can make to businesses in this sector.
We offer a selection of real-time accounting packages, as well as our Love My Business service which builds on the data to help you achieve your business goals. Get in touch for help choosing the right package for your retail business.