Operating a nightclub business isn’t an easy task, you have to constantly find the best strategy to control and organize crowd, at the same time, you have to ensure a smooth and a stunning party.
Another interesting side is your peak period which is completely different from the regular working hours. While other business managers are rounding up for the day, you are planning and waiting for an influx of customers who want to wine and dine as night falls.
During such hours, liquor and wine are the most consumed, they are on high demands, and therefore require greater attention.
In order to provide better service to your customers, meet up with the high volume orders as well as controlling theft, you need to upgrade your current accounting system to the QuickBooks system. This is highly effective in tracking cash flow, profit or loss positions.
Track Your Liquor and Wine Inventory
No doubt, sales control is the most difficult and important task of a nightclub entrepreneur. If not properly handled, it will be hard to ascertain the accurate financial position of the business. This solution can be effectively provided by QuickBooks.
One of the recommended front end software for your nightclub business is QuickBooks POS; a fully integrated inventory and sales application that allows you to quickly take customers’ order, record sales and receive payment via cash, debit card and bank transfers.
Implementing QuickBooks POS isn’t rocket science, all you need to do is provide your consultant with the necessary setup requirements and their respective balances such as:
- Inventories on hand, unit of measures, cost and sales price.
- POS monitor; touchscreen with a double user-interface.
- Barcode scanner which scans and uses the UPC number of the products to auto-detect all the drinks you sell.
- Thermal printer for receipt printing; 40, 50 or 80mm
- Cash drawer for keeping all cash collections.
- POS terminal for accepting debit and credit card payments.
For more information on how we deployed QuickBooks POS in retail businesses, click here
Provide Better Service to Your customers
At some nightclubs, you notice that the lines at the bar are so long that customers just give up on their orders and leave! With QuickBooks Point of Sale Software, you can be sure that the time spent on the line is reduced by as much as 90%; you can easily take orders, punch on your screen and select payment methods while customers’ needs are met of on time.
QuickBooks POS is designed with payment features like credit card processing, and employee security, to help you monitor all cash payment and checkmate necessary entries initiated by your employees.
Financial Reporting
Another recommended software for your backend financial is QuickBooks Premier, accounting software that syncs your cash flow from the POS system. It matches the figure against your payment (like the purchase of liquor & wines; and general business expenses) so you ascertain your profit or loss.
Before deploying the backend financials, you need to ensure that all the necessary balances are presented for proper migration, if not, you might not get an accurate report that reflects your true business performance.
Here are the key setup requirements for QuickBooks accounting software:
- Inventories; you can also import all the inventories from your POS into the accounting software.
- List of your banks and their respective balances.
- Chart of account heads for income, expenses, asset and liabilities.
- VAT payable balance.
- List of vendors and their account payables.
- List of customers and their receivables.
The last two (2) requirements are important for businesses that buy from their liquor or wine suppliers without immediate payment. They also allow customers to buy on credit from their store. This is quite rare in a nightclub except the customer is well known and has a good track record.
After all the necessary setups, you can explore/use “financial exchange” feature on your QuickBooks POS whenever you need to process data into QuickBooks. Financial exchange lets you sync all the sales data and payments into the backend financials (QuickBooks Premier) visible to the accountant or manager.
Security
On the security section, you can limit the use of your POS and accounting software by setting user roles, rights, and functions on both front and back end solutions. This will help you control and track users’ activities.
For more information on how to easily set up QuickBooks POS and accounting software, generate accurate sales report, inventory and payment summary, etc. for your night clubs and other businesses, connect with our client support centre at:
bigresourcessolutions@gmail.com
info@accountingsoftware.com.ng
call
+234-808-421-9399
+234-810-509-0001