Retail and wholesale operations have more moving parts than other businesses. You negotiate with suppliers, manage their deliveries, check for damage goods upon arrival and monitor inventory. And that’s just one side of the coin.
On the customer side, you most likely have multiple sales channels, multiple payment methods and yes, you still have to manage your POS. As if those were not enough, you also have Human Resource and Accounting issues to deal with. It can be overwhelming and it is overwhelming.
At Vertaccount, we unburden you with your accounting workload by taking care of everything related to that. We do it because accounting is our passion. As such, you can focus on all the other facets of running your business.
- Sales Order & Invoicing
- Accounting and Reconciliation of Customer Credit Card Payments
- Purchase Order Processing
- Inventory Monitoring and Reconciliation
- Industry Specific KPIs and Reports – Inventory Turnover Report, Stock Turnover Days, Break Even Analysis, Gross Margin Analysis
- Best Practices / Policy Formulation / Forms Development
- GET Processing and Filing
- 1099 Processing and Filing
- Accounts Payable, Accounts Receivable and Payroll Processing
- Financial Statements and Financial Budget Preparation
- Cash Management
- Catch Up and Clean Up of Records
Frequently Asked Questions (FAQs)
No we won’t. We would require someone on-site to do the physical inventory count. However, we can perform regular reconciliation with your inventory, physical count and accounting systems to capture balances.
We can work with any existing system that you are already using.
Yes, but we will need to work with the POS vendor. We can definitely share best practices.
Yes, we can. We can even track the payments of each invoice that you send out to your customers.
Yes, we can. We can manage those including all your credit card merchant fees.
As a rule, we do not make vendor payments or collect customer payments on behalf of our customers. This is a form of internal control and not because we are not able to do them.
Accounting is a 2 way street. For us to produce financials and for those financials to have meaning for your business, then we need to work together. We will do our part, but we need you to do your part as well.
What we need you to do are:
- Do your physical counts regularly.
- Ensure that your POS is being used properly. The POS will most likely be the source of your revenues and receiving inventory. If those are unreliable, then your reports will be unreliable as well.