What You Should Know About QuickBooks POS Multistore for Retail Businesses.

As we scale our accounting software business model to accommodate smaller and growing retail business owners, who are looking for the right financial solution to their day to day accounting challenges, we share implementation experiences so that prospects or business owners in the same line of business will learn and understand how our solutions can solve their related challenges.

Here is a real-time story that will help you avoid wrong installation and setup if you are looking for a POS software for your retail business.

A retail business owner, who wanted to upgrade to a newer version of QuickBooks POS software called in to request for the latest version of multi-store which as of this writing, was 2018. She bought a user license of the POS software without a proper understanding of how QuickBooks POS multi-store for retail businesses works. After installing the software at her stores’various locations; networking became a challenge. She thought that all the remote stores could easily be linked to the head office such that inventories, sales, purchases and reports would be centralized.

Normally, QuickBooks POS multistore software was not designed to work like that; you need to get the number of user licenses equivalent to the retail store branches. For instance, if you have 10 retail stores and 1 head office for your business, the number of licenses needed to configure these stores and connect to the head office (remotely) is 11. Each retail stores, including the head office, must have a separate QuickBooks POS license software. If not, centralization will not be possible. When we say “Centralization”, we mean connecting all the remote or retail stores to the central head office.

Technically, for the head office POS software to receive data from the various stores, the applications check the user license of the sent file, and if they are the same, it will display an error message with the reason – your file shares the same license with the receiving file – but if the user licenses are different, the file is received and the sales or purchase information at the retail store is updated on the head office POS to generate an accurate inventory quantity on hand and balance.

“As a recap, on QuickBooks POS software, a multi-store POS software is a front-end sales software that makes it easy for you to record inventory sales at the different retail store locations so that report can be sent to the head office POS for proper accountability and reporting.”

If you are looking for QuickBooks POS software for your retail stores but do not know the number of licenses you need, the easiest guide is to confirm the number of stores you would be installing the license at or user systems. Assuming you own 10 retail stores but wouldn’t like to centralize inventory; you prefer to treat each store as an independent unit, you only need one (1) user license but if centralization is key, then you need ten (10) user license.

Do you need more information QuickBooks POS multi-store software or license purchase guide? Please send a mail to us at info@accountingsoftware.com.ng        or call us at 08105090001  for professional support!

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Accounting For Debit/Credit Card Payments On POS Terminal In Quickbooks Desktop.

POS terminal is a portable point of sale machine that allows payment through credit and debit cards on the go. Businesses use POS terminals as an alternative mode of payment for customers who are not comfortable carrying cash around.

Since the introduction of this point of sale machine, transactions value processed had since hit a height of N1.4tr, according to the 2017 data presented by Nigerian Inter-Bank Settlement System. Over 155,462 active POS terminals have already been made available to retailers or merchants in Nigeria.

The growing adoption of POS is a positive development which is not unconnected to the fact that Nigerians are now using less cash for transactions and more of POS as a preferred settlement method. A noticeable accounting and financial challenge is brewing from this payment method. Businesses that are not using point of sale software like QuickBooks POS software or other POS for making sales are finding it difficult to account for their actual bank balances in real time, due to delay in POS transactions settlement.

If you are currently using QuickBooks Pro, Premier or Enterprise Edition, and you accepts payment via POS terminal, this guide will help you find a better path to tracking all POS transactions in your accounting software.

Normally, it takes 2-3 days for banks to credit merchants account for the value of POS transactions carried out in stores or in their various business locations. Account officers or cashiers from their end do make the mistake of recording customers’ payment as cash received into the bank resulting in the increase of QuickBooks bank balances without immediate corresponding increase in the actual balance.

Here is an issue we recently resolved in one of the fast-growing hotels in Lagos:

A customer booked a room for 3 days at NGN 24,500 and paid NGN 73,500 via his debit card using the POS terminal. The payment was debited from the guest’s bank account but was not credited instantly to the merchants’ account. The cashier recorded the transaction as cash received which was saved directly to Zenith bank.

Continue reading “Accounting For Debit/Credit Card Payments On POS Terminal In Quickbooks Desktop.”

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ProbityBooks – Simple Sales & Accounting Software For Small Business

Sponsored: The next wave of financial management software offering is Cloud and accounting software is not left out. Cloud-based accounting software is a web-based solution that lets you manage and track your business activities from anywhere. Whether you sell from anywhere, run expenses on site or want to issue an invoice to a client outside your office,  here is a review of how ProbityBooks is designed to meet your accounting needs.

ProbityBooks – A Web Based Accounting Software

ProbityBooks is a simple sales accounting software that makes it easy for you to run and manage your business without you needing to be an accounting specialist. The platform is designed to set you up quickly.

Quick Features of ProbityBooks Online Accounting Software

  • Create and send invoice on the move
  • Overdue payment reminder
  • Capture expenses anywhere
  • View real-time profit/loss status
  • Multiple currencies
  • Safe and securely backed up in the cloud.

Sign Up for Free 30 Days Trials 


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Quickbooks POS For Multiple Stores & Locations

Do you run a retail business with multiple stores and are looking for an easy and flexible point of sale software to integrate each of these outlets transactions into a centralised or unified portal? Your search is now over as I will be reviewing one of the leading POS software for SMEs.

QuickBooks POS

Designed by Intuits, QuickBooks financial software provider, QuickBooks POS is a retail sales management software that lets you capture daily sales, receive and manage inventories.

Check Out: Overview of POS Software For Retail Businesses

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Want a Point of Sale System? We Sell QuickBooks POS & Equipments

POS System, Equipment and Software Price In Nigeria – Point of Sale Software – Buy QuickBooks POS For Small Business Accounting – Cash Register,  Barcode Scanner, & Thermal Receipt Printer

POS Software System provides your business with the right tool for monitoring inventory, tracking sales and printing sales receipt in one place.

If you have been working on pen and paper, I think it’s time to upgrade your accounting system so that you can save time and money. With add-ons such as POS Software, Barcode Scanner, Cash Drawer, Credit Card Reader, and Receipt Printer you can save staff cost and get the system to process your business transaction in less time even when you have physical lengthy inventory.

Continue reading “Want a Point of Sale System? We Sell QuickBooks POS & Equipments”

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