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Retail Accounting Software


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Revel Systems logo
 
Revel is a cloud-based business platform that integrates operations and customer channels with point-of-sale (POS) functionality in a single dashboard. It is suitable for stores and restaurants of all sizes and provides users with... Read More
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Revel is a cloud-based business platform that integrates operations and customer channels with point-of-sale (POS) functionality in a single dashboard. It is suitable for stores and restaurants of all sizes and provides users with... Read More
 
NetSuite logo
 
NetSuite for Retail is a cloud-based multi-channel retail management solution for retailers that combines e-commerce, POS, and order management functionalities. The software provides a unified retail system with back office management... Read More
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NetSuite for Retail is a cloud-based multi-channel retail management solution for retailers that combines e-commerce, POS, and order management functionalities. The software provides a unified retail system with back office management... Read More
 
Epos Now logo
 
Epos Now is a retail management system for small to mid-sized businesses. In addition to its Point of Sale module, the solution also offers integrated Inventory Management, Customer Management, and Retail Accounting, including general... Read More
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Epos Now is a retail management system for small to mid-sized businesses. In addition to its Point of Sale module, the solution also offers integrated Inventory Management, Customer Management, and Retail Accounting, including general... Read More
 
AmberPOS logo
 
Pacific Amber’s AmberPOS offers a point of sale software solutions to a variety of retail specialties, ranging from small to midsized, in the United States and Canada. In addition to point of sale functionality, AmberPOS includes... Read More
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Pacific Amber’s AmberPOS offers a point of sale software solutions to a variety of retail specialties, ranging from small to midsized, in the United States and Canada. In addition to point of sale functionality, AmberPOS includes... Read More
 
Springboard Retail logo
 
Springboard Retail is a web-based retail solution designed for multi-channel and multi-store retailers. Springboard’s point of sale system is fully accessible through any modern web browser on any device. The solution is designed... Read More
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Springboard Retail is a web-based retail solution designed for multi-channel and multi-store retailers. Springboard’s point of sale system is fully accessible through any modern web browser on any device. The solution is designed... Read More

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COMCASH Retail ERP logo
 
COMCASH ERP is a complete retail management system ideally suited for multi-channel and multi-location retailers. The software is cloud-based, allowing access to the administrative functions from anywhere on any device. The Point... Read More
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COMCASH ERP is a complete retail management system ideally suited for multi-channel and multi-location retailers. The software is cloud-based, allowing access to the administrative functions from anywhere on any device. The Point... Read More
 
AIMsi logo
 
AIMsi is an end-to-end point of sale management solution that can be used in any retail environment. With multiple integrated features, AIMsi is a complete business management suite that provides POS, accounting, inventory tracking... Read More
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AIMsi is an end-to-end point of sale management solution that can be used in any retail environment. With multiple integrated features, AIMsi is a complete business management suite that provides POS, accounting, inventory tracking... Read More
 
Phorest Salon logo
 
Phorest is a salon management software solution designed for small and midsize businesses that features appointment bookings, point-of-sale, inventory management and reporting. The software offers cloud-based deployment and a salon-branded... Read More
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Phorest is a salon management software solution designed for small and midsize businesses that features appointment bookings, point-of-sale, inventory management and reporting. The software offers cloud-based deployment and a salon-branded... Read More
 
RetailSTAR logo
 
RetailSTAR POS Software by CAM is an on-premise POS solution for specialty retail shops such as clothing stores, shoe stores, sporting goods retailers, gift and hobby shops, and health food stores. RetailSTAR targets small to midsize... Read More
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RetailSTAR POS Software by CAM is an on-premise POS solution for specialty retail shops such as clothing stores, shoe stores, sporting goods retailers, gift and hobby shops, and health food stores. RetailSTAR targets small to midsize... Read More
 
EdgePOS logo
 
EdgePOS from SilverEdge LLC is a comprehensive, cloud-based point of sale program that integrates key features without significant out-of-pocket expenses. All of their packages include iPads or all-in-one touchscreens and accompanying... Read More
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EdgePOS from SilverEdge LLC is a comprehensive, cloud-based point of sale program that integrates key features without significant out-of-pocket expenses. All of their packages include iPads or all-in-one touchscreens and accompanying... Read More

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ConsignPro logo
 
For resale and consignment shop owners looking for a comprehensive, feature-rich retail management solution, ConsignPro provides reliable, time-tested software that is industry-specific and simple to learn. ConsignPro handles retail... Read More
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For resale and consignment shop owners looking for a comprehensive, feature-rich retail management solution, ConsignPro provides reliable, time-tested software that is industry-specific and simple to learn. ConsignPro handles retail... Read More
 
Rapid Bev POS logo
 
Rapid Bev POS is a point-of-sale solution that can be deployed on premise or accessed through the cloud. It's designed to meet the needs of liquor stores, wineries and breweries, with features to track product attributes, ratings and... Read More
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Rapid Bev POS is a point-of-sale solution that can be deployed on premise or accessed through the cloud. It's designed to meet the needs of liquor stores, wineries and breweries, with features to track product attributes, ratings and... Read More
 
Liberty4 Consignment logo
 
With its flexible, simple solution, Liberty4 Consignment by Resaleworld.com offers retailers in the consignment, thrift and resale industries a comprehensive system to manage point of sale, inventory management, CRM and accounting.... Read More
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With its flexible, simple solution, Liberty4 Consignment by Resaleworld.com offers retailers in the consignment, thrift and resale industries a comprehensive system to manage point of sale, inventory management, CRM and accounting.... Read More
 
The Consignment Shop logo
 
Established in 1999, The Consignment Shop by SBS Solutions was developed for small to mid-sized consignment businesses in a variety of segments such as jewelry, furniture, books, apparel and more. The system offers a suite of tools... Read More
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Established in 1999, The Consignment Shop by SBS Solutions was developed for small to mid-sized consignment businesses in a variety of segments such as jewelry, furniture, books, apparel and more. The system offers a suite of tools... Read More
 
NCR Counterpoint logo
 
The NCR Counterpoint solution includes an e-mail marketing tool, integrated e-commerce, mobile alerting, built-in gift card and customer loyalty programs and hardware specifically designed for the retail environment. The NCR Counterpoint... Read More
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The NCR Counterpoint solution includes an e-mail marketing tool, integrated e-commerce, mobile alerting, built-in gift card and customer loyalty programs and hardware specifically designed for the retail environment. The NCR Counterpoint... Read More

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Cash Register Express by pcAmerica logo
 
Cash Register Express (CRE) by pcAmerica is an integrated point of sale solution for retail stores and quick-service restaurants. CRE offers inventory management, customer loyalty, time cards, permission levels, advanced reporting,... Read More
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Cash Register Express (CRE) by pcAmerica is an integrated point of sale solution for retail stores and quick-service restaurants. CRE offers inventory management, customer loyalty, time cards, permission levels, advanced reporting,... Read More
 
Stratus Retail logo
 
Stratus Retail by Celerant Technology provides tools for point of sale (POS), inventory and order management, enterprise resource management (ERP), e-commerce, business intelligence, marketplace integrations (Amazon, eBay, Walmart,... Read More
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Stratus Retail by Celerant Technology provides tools for point of sale (POS), inventory and order management, enterprise resource management (ERP), e-commerce, business intelligence, marketplace integrations (Amazon, eBay, Walmart,... Read More
 
Smartwerks_USA logo
 
Smartwerks_USA is a point of sale and accounting software application. It is best suited to small and midsize specialty retailers like mattress stores, gift shops, patio stores, and jewelry stores. Key features include point of sale... Read More
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Smartwerks_USA is a point of sale and accounting software application. It is best suited to small and midsize specialty retailers like mattress stores, gift shops, patio stores, and jewelry stores. Key features include point of sale... Read More
 
Agiliron logo
 
Agiliron cloud-based point-of-sale (POS) solution is designed to serve both in-store and mobile businesses as well as online sales channels. The system offers a host of features that work in tandem with the point-of-sale solution,... Read More
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Agiliron cloud-based point-of-sale (POS) solution is designed to serve both in-store and mobile businesses as well as online sales channels. The system offers a host of features that work in tandem with the point-of-sale solution,... Read More
 
Acme Point of Sale logo
 
Acme Point of Sale by Total BusinessWare is a comprehensive Point of Sale solution for companies of any size - it can be used effectively on-premise by a single store with a single user, all the way up to a larger establishment with... Read More
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Acme Point of Sale by Total BusinessWare is a comprehensive Point of Sale solution for companies of any size - it can be used effectively on-premise by a single store with a single user, all the way up to a larger establishment with... Read More

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Buyer's Guide

by Justin Guinn,
Market Research Associate
Last Updated: November 17, 2017


The accounting market for retail is surprisingly complex for such a straightforward application. The primary reason for the complexity is due to vendor saturation among both vertically oriented software vendors and horizontally oriented accounting vendors.

Companies approaching the market from both angles have developed a large number of programs for every type and size of business, creating a complex and confusing market for buyers. This guide should help buyers understand how best to approach the retail accounting market and identify the right vendors for their needs.  

Here’s what we’ll cover:

What Is Retail Accounting Software?
Deployment Strategies
What Type of Buyer Are You?
Benefits, Potential Issues and Costs
Market Trends to Understand
The Vendor Landscape

What Is Retail Accounting Software?

“How much money is this business making?” is a difficult question to answer for a surprising number of retailers. This is especially true for the 64 percent of single-store retailers operating without a point of sale (POS) system in place.

If you’re operating or working in a retail business that’s not taking advantage of affordable, intuitive retail software, ask yourself why? Between QuickBooks and retail POS systems, there’s tons of easy-to-use software options to automate if not at least qualm the pains of retail accounting tasks.

On the most basic level, retail accounting software offers the following features:

  • Track payables and receivables—manage outgoing payments for vendors and other operating costs (i.e bills, rent) and incoming payments such as credited purchases.

  • Inventory management—monitor the current value of inventory on hand, accounting for immediate and long-term depreciation of assets.

  • Reporting and analytics—determine product margins and monitor sales performance at various levels, including product, employee, location, date and time.


The primary goal of this accounting software is to centralize all accounting-related data in one system and provide owners with accurate figures. On one hand, this is an absolute necessity from a legal/tax auditing standpoint. And on the other hand, it’s a baseline business practice to help even the score between your store(s) and the competition. By truly knowing key metrics, businesses can make data-driven decisions to improve inventory and customer retention and increase sales.

Deployment Strategies

Retailers will have two primary choices when implementing a retail accounting system for their store:

  • Standalone accounting program like QuickBooks to tie into your point of sale system.

  • Accounting capabilities, such as sales reporting and analytics, that are enabled by/included within a POS system.

The decision will be based primarily on the size of the business and the extensiveness of the company’s needs.

What Type of Buyer Are You?

You will want to focus on programs that are designed for the buyer category you fall into. We have found that almost all businesses belong in one of the following three categories:

Small buyers. Most retailers with fewer than five locations will fall into this category. However, if a retailer operates one or a handful of large stores, they may be in one of the other two categories. These small buyers have straightforward accounting needs. They typically require an affordable option that can integrate with their POS system.

Enterprise best-of-breed buyers. These larger retailers have already made substantial investments in point of sale and inventory control systems. They typically do not want to replace these existing systems and are looking for a standalone accounting program. Integration, flexibility and scalability are usually key requirements. These buyers typically have more than five locations or a smaller number of large stores. 

Enterprise integrated suite buyers. Contrary to the best-of-breed buyers, these buyers are looking for one system that offers fully integrated applications for point of sale, inventory control and accounting. They may also opt for modules for warehouse management, merchandise planning or multi-channel management. Many of these buying decisions will be dictated by POS and inventory control needs since accounting functionality typically does not vary much from system to system. 

Benefits, Potential Issues and Costs

The benefits of implementing a formal accounting system are fairly straightforward but surprisingly difficult to attain without a proper system. Most adopters should expect the following benefits: 

Organization and efficiency. If you have ever tried to prepare a tax return without a formal accounting system or process in place, you know how much more organized a program will make your business. Having all of your data managed in one place saves a surprising amount of time when trying to determine performance of the business.  

Automated reporting. Most accounting programs come with a number of standard reports, as well as the ability to build custom reports if necessary. Buyers should find it very beneficial to make key decisions quickly without having to spend a lot of time manually pulling together information. 

When selecting a system, buyers should ensure that the system will integrate with their existing POS or inventory control software. Many buyers will find that simply exporting sales data into a .CSV file and then uploading it to the accounting package is sufficient. Bigger buyers with more data will likely require true integration though. 

Buyers should note that there is a large price difference between smaller packages such as QuickBooks or Peachtree and larger tools like Microsoft Dynamics GP. As a result, most buyers will stick with a small program until the business has grown large or complex enough to justify the investment.

Market Trends to Understand

Various software trends are impacting the retail accounting software market. The primary trends include the following:

ERP vendors as retail vendors. Software companies such as SAP, Microsoft Dynamics and Epicor have traditionally offered horizontal accounting or enterprise resource planning (ERP) programs. Users of these packages for accounting would use a separate system for operations. Over time, these providers have developed extensive functionality to enable retailers to use them for point of sale, inventory control, warehouse management and accounting.  

Software as a Service (SaaS). Many accounting programs have transitioned to SaaS. We typically encourage buyers to consider this model with an open mind as SaaS accounting solutions can ease the IT burden and help them avoid large upfront costs.  

The Vendor Landscape

Buyers should find the retail accounting software market much more navigable when approaching it with their buyer category in mind.

This type of buyer... Should evaluate these systems
Small buyers Peachtree, QuickBooks
Enterprise best-of-breed buyers Microsoft Dynamics, SAP, NetSuite, Sage MAS 90/200/500
Enterprise integrated suite buyers Epicor, Cybex, Jesta Vision

Free Download:
Ten Steps Guide to Selecting Retail Software

Free Download:
Retail Software Feature Checklist

 

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