The primary feature of an integrated accounting system is that information is entered once and is shared with other files and reports across the application, including the general ledger. This level of efficiency and data integrity cannot be achieved by a system that is not integrated, or requires data to be uploaded to a non-integrated accounting system such as QuickBooks™.
DispenseFirst is the only solution for cannabis dispensaries with integrated accounting. In fact, it’s the only solution that includes integrated Purchasing and Payables modules.
The key benefits of an integrated accounting system are:
- Comprehensive data integrity integrated across the entire organization.
- Accounting for every transaction: customer refunds, including supplier credits tied to customer refunds, inventory adjustments and disposals, supplier invoices and payments, bank deposits, and adjustments to inventory cost, especially if a cost is adjusted days after a customer sale.
- Detailed ledgers and audit reports.
- Near real-time balance sheet and income statement.
- The ability to better manage risk and performance by capturing near real-time insights into the financial function of the organization as it relates to dispensary operations and business units.
- A single point of contact for ongoing maintenance and support.
- No software integration issues, release synchronization or data loss.
The key benefits of accounting and inventory management integration are:
- Optimizing inventory to meet product availability and ROI goals.
- Providing inventory visibility to the organization’s grow centers.
- Reporting inventory accurately in financial reports.
The key benefits of accounting and HR integration are:
- Tying head count to salaries to cost centers.
- Obtaining a clear picture of the revenue per employee based on metrics.