The 2 Aspects of a Retail Cash Management Solution

Cash recycling system

If your business handles cash sales, the tools you use to do so can have quite an impact both on worker efficiency and cash-handling accuracy. A full retail cash management solution has two parts: one virtual, one physical.

Retail Enterprise Management Planning

Enterprise Resource Planning, or ERP, refers to the software suites businesses use to collect data, transfer information and generate reports on many aspects of their business. Cash management software can allow the consistent logging of cash transactions and the details associated with them (such as who handles each transaction and at what times). Furthermore, the software can track trends, giving you insights as to how you might better draw in customers and improve profits. Generally, these software systems are able to generate automatic reports (saving employee time) that are useful for both record keeping and current and prospective investors up to date on the business’ financial situation.

Cash Machines

There are several kinds of machines a retail business should consider. One is a machine to detect counterfeit money. Another is a scanner that allows for the immediate logging and depositing of cheques. But by far the most useful investment a business that deals in cash can make is a portable cash counter.

Cash counters ensure 100% accuracy in deposits, eliminating the human error margin. Most businesses assume that a few dollars lost here and there don’t matter, but these dollars can add up over time. Cash counters also save time; instead of an employee counting bills by hand (which is slow), repeating the process to ensure accuracy and then getting another employee to verify the count, the bills can be run directly through a counter a single time and grouped for deposit. There are also currency counter machines that deal with coins, which might be of use to a business that sells many small items.

What do you think is the best cash management solution for you? Do you worry when a register is a few dollars short at the end of the day? Join the discussion in the comments.

The Commercial Real Estate Industry by the Numbers

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The 2008 Recession really took a toll on the American real estate market, and it’s taken a long time for both residential and commercial real estate values to look healthy again. And considering that an estimated 2 million Americans are employed by residential and commercial real estate companies, it’s definitely a good thing that the industry is on the upswing.

Don’t believe that the market is really in a good place? Take a look at the following statistics:

5.09 million: The number of house sales that occurred in 2013. The increase in sales between 2012 and 2013 was around 9.1% — that’s a big increase for just one year!

253%: The increase, between 2009 and 2013, of people who used search engines (like Google) to make inquiries about the real estate market.

$22.8 billion: The amount of U.S. real estate properties that foreign commercial real estate companies bought between January and August of 2013. That’s right — investors all over the world have recognized that property values in the U.S. are going up. This really isn’t surprising, considering that experts predict employment in the U.S. to rise by about 10% between 2012 and 2022; when people have steady jobs and steady incomes, they’re more likely to make long-term investments in the real estate market.

Of course, it should be noted that the real estate industry is always a bit of a roller coaster; one good year does not ensure the success of the following year. But when trends look healthier overall, consumers and investors alike gain more confidence, and the market is able to stabilize.

Two Important Reasons to Hire the Best Bookkeeping and Accounting Services

Bookkeeping is an essential part of the operations of any business, and those who tell you otherwise have an agenda that is not going to serve you well. We know that an accounting firm can garner a lot of business from companies that are looking for accounting booking services, but you don’t necessarily have to turn to them for help in every instance. You can learn some accounting basics for dummies to get you started, and this may be enough to earn you the ability to take care of the finances of your own business completely on your own and at your own pace.

Accounting bookkeepers are always there to help those who feel that they would rather pay for the service, but you need to be prepared to pay the salary of an accounting clerk bookkeeper if you decide to take this route. They are not overly expensive in the grand scheme of things, but you always need to be aware that there are costs associated with not learning some of these skills for yourself. It is perfectly acceptable to understand that not everyone is good at everything all the time. As long as you know this for a fact, you can appreciate it and simply pay someone to handle the tasks that are not in your wheelhouse.

Accountants stratford upon avon

Did you know that more than 20% of adults in London and 18% of adults East of England use accounting services? This is because bookkeeping and accounting companies provide several helpful services, and each one is designed to improve your financial situation. As a result, hiring the best local bookkeepers is one of the best decisions you can make for your business.

Filing Taxes

Filing taxes is one of the most difficult tasks you will ever encounter as a business owner. This is because you may be required to file taxes each quarter, which is both difficult and time-consuming because this is no easy feat. Fortunately, that is why tax accountants are available. These services will not only help you fill out all the necessary paperwork for your taxes, but they will also help you prepare your taxes so that you can avoid costly mistakes. This means that when you hire the best bookkeeping and accounting services, you will never have to stress over your taxes again.

Financial Planning

An incredible 60% of adults believe that they can improve their financial situations by establishing firm monetary goals. Luckily, accounting companies also offer this service. In fact, the best bookkeepers are more than qualified to offer financial advice, and they will even set up a realistic budget for your company to follow. Additionally, accountants will help you keep accurate financial records so that you can diligently keep track of cash inflow and outflow. As a result, you will be able to run your business more efficiently.

There are several reasons why you should immediately seek help from bookkeeping and accounting companies. Not only will these services file your taxes whenever needed, but they will also help you create practical financial goals, as well. This means that when you hire the best accountant, your business will benefit greatly. For more information, read this website.