Back Office Management

slide3-100x50Why should I license an application that has back-office accounting built in? v5 has been asked this question several times.

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 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.

For example, if you use a non-integrated POS system, you need to enter or upload sales information into the 3rd party accounting system in order for the general ledger to recognize changes in cash, inventory, expenses and receivables. If you need to troubleshoot discrepancies in inventory, you would have to use two separate applications to troubleshoot the issue, a huge burden for any bookkeeper.

Efficiency is the main benefit of an integrated accounting system. When a sale is made, inventory is decreased automatically; cost of goods sold is increased and recorded in the general ledger along with the sales entries. There is no need for manual intervention or a second step in this process, a level of efficiency only available with integrated software.

The DispenseFirst application automatically creates journal entries and updates the chart of accounts for all transactions processed through the system. Dispensary agents with elevated rights in the application may view or print a “near” real time balance sheet and income statement at any time during the day.