Soft Retail Accounting

This separate blog has been set up to explain various aspects of Soft Retail Accounting. The topics of this blog will be in addition to the PDF user manual available on following link:

Retail Documentation.pdf

Soft Retail Accounting’s “Sample Data File” can be downloaded from following link ( MS Access 2010 file having password: sampledata )

SampleData.accdb

And the Free Demo (ready to use) file can be downloaded from following link ( MS Access 2010 file having password: mysystem )

SoftAccounting.accdb

Free demo is a fully functional ready to use file. It will be fully functional up to 25 sales invoices. When maximum limit of sales invoices is over, then sales invoice form shall not open. However all other forms and reports shall remain fully functional. At this time you will need to enter activation code (PIN Number) in main>>About form. Once correct PIN Number has been entered, then sales invoice form shall open as usual.

Price for purchasing PIN Number is USD 35/-. (Note: This is price of freely downloadable version of Soft Retail Accounting. This version is not multi-user enabled.)

BUY Soft Accounting PIN NO. NOW

activation

The various posts of this blog shall describe various features and aspects of Soft Retail Accounting so that users may fully understand the product and may get maximum benefit out of it.

Soft Retail Accounting offers Perpetual Inventory System:

Soft Retail Accounting powerful Perpetual Inventory Tracking method.

Inventory-ill

With every sale/purchase (and returns thereof) entry, updated  position of every stock item is reflected automatically in every related report.

More information regarding what Perpetual Inventory System means is available on following link:

http://smallbusiness.chron.com/perpetual-inventory-retail-mean-22738.html

 

 

Soft Retail Accounting is a POS System Also…!!!

money

Soft Retail Accounting is a unique Accounting Software. It is common to see certain POS systems that are integrated with in-house or any other established Accounting Software System. Soft Retail Accounting is unique Accounting Software which is a complete automated double entry book keeping system as well as Cost and Inventory Accounting System. Not only that, there is a builtin POS system available which is capable to meet the POS needs of most of the retail shops. Some kinds of retail shops/stores however may need specialized POS systems.

si

The Sales Invoice entry form of Soft Retail Accounting is capable to meet the POS needs of most kinds of retail shops that exist. The feature of a builtin POS in an Accounting Software means that it is more than “integration”. It is such a POS system which is not just “integrated” but which is “itself” a complete Accounting Software.

What if I do not make cash book entries?

Soft Retail Accounting is very flexible accounting application. If you make no cash book entry in cash book entry form … you will still get all the inventory reports in “Inventory/ Stocks Books” section. It means that you will still get gross profit against each and every sales entry (the entry you make in usual sales invoice form). You will get proper gross profit data on daily, monthly or on any period as you choose basis.

However “Financial Ledgers” section will remain incomplete. Therefore if you do not find time for making cash book entries, you only need to avoid checking “Financial Ledgers” section. However “Inventory/ Stocks Books” section will still be complete and it alone also can tell profitability position of your business up to gross profit level.

Diligence is definitely required for the implementation of system:

No system can be implemented with casual approach. Business owner must pay attention to working of the system just like a regular duty … and only then system will be beneficial for the business. System is tool for doing business. For tightening nut bolts, tools are needed … So for doing business, system is also needed.

Transfer of payment from one business bank account to other bank account

Soft Retail Accounting’s Cash Book entry form can handle as many bank accounts as you choose. But currently the feature of transfer of money from one bank account to other is not available in cash book entry form. For such a transfer, you need to make two separate entries in cash book. In first entry you will withdraw money from one bank account. In second entry you will deposit money in second bank account.

However the feature of transfer of money from one bank account to another bank account through a single cash book entry will be available to any client on demand at a nominal cost of $15.

 

 

Where to record various types of Transaction?

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Major Brands of Accounting Software in market record transactions in different modules such as (i) Vendor process module, (ii) Customer Process module, (ii) GL module etc.

Let us state that neither this method is supported by theoretical accounting, nor it is a simple process.

But it did introduce the integration of Financial Accounting and Inventory/Cost Accounting. Such an integration is still not possible by following theory of Financial Accounting alone.

On the other hand, Soft Accounting System has achieved integration of Financial Accounting and Inventory/Cost/Management Accounting without rotating the user into the roundabouts of vendor process/customer process/GL process.

 In Soft Retail Accounting, transactions are not to be recorded on the basis of vendor process or customer process or GL process.

Here transactions are to be recorded on the basis of following types of transactions:

 
1- Sales/Sales Returns — to be recorded in Sale Form/Sales Return Form
2- Purchase/Purchase Returns — to be recorded in Purchase Form/Purchase Return Form
3- Any cash/bank transaction other than categories 1 and 2 — to be recorded in Cash Book
4- Any non cash/bank transaction other than category 1 and 2 — to be recorded in General Journal
 

In Soft Accounting, there is only one cash/bank book.In other systems, there are multiple cash/bank books like cash receipt book (AR receipt voucher), Cash payment book (AP Payment voucher) , Bank receipt voucher, bank payment voucher etc.

 

But … Soft Accounting gives a simplified solution

. Here is only one Cash Book. It will record all the receipts/payments from/to ARs/APs whether in cash or through bank.

Please read the Cash Book section of our user-manual from following link:

Thus in Soft Accounting:

AP payment will be recorded in cash book … whether paid in cash or through cheque.

AR payment receipt will also be recorded in cash book whether received cash or direct deposit of money by customer in our bank.
This cash book can handle as many bank accounts as you choose.
Expense payment will also be recorded in cash book whether paid in cash or cheque.
Any revenue other than sales will also be recorded in cash book whether received in cash or direct deposited in bank.
Cash book however will NOT record cash sales or cash purchase … Cash sales are to be recorded in sale form, cash purchase to be recorded in purchase form.

similarly, cash book will also NOT record cash sales return or cash purchase return. These things will be recorded in sale return form and purchase return form.

Get LIFO and Weighted Average Costing at the same time:

While other world famous (commonly known as most powerful) accounting software requires you, at setup stage, to choose one of three costing methods i.e. (i) LIFO, (ii) FIFO and (iii) Weighted Average.

You will choose only one of these methods at the setup stage. Afterwards, you will get all the costing reports based only on the one method you had chosen at the time of starting with that world’s most powerful accounting software.

lifwtd

Whereas in Soft Retail Accounting, you are in no need to setup your costing method and Soft Accounting will automatically give you costing reports based on (i) LIFO and (ii) Weighted Average at the same time. For example see following screen shots of (i) Income Statement LIFO basis and (ii) Income Statement Wtd. Avg basis … and see that for the same period, there is difference in net profit. Therefore we must conclude that Accounting Software is not complete if it gives only one type of costing information. Following screen shots are from Sample Data file:

is lifo

and now see following Wtd. Avg based Income Statement for the same period.

is wtd

Not only Income Statements, Soft Retail Accounting gives Balance Sheets also in these two varieties. In addition, the inventory reports also give information about gross profit on both LIFO basis as well as on Wtd. Avg basis. So with Soft Retail Accounting, you will get even more insight into the affairs of your business than can be offered by other renowned Accounting Software Systems.