Diligence is definitely required for the implementation of system:

December 3, 2015
Magellanic Cloud

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.

Soft Retail Accounting is a tool for doing retail or trade business. This tool is not like an intelligent robot. This is an excellent machine that converts minimum of input effort into maximum of output work.

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The system shall keep on providing you the maximum output information with minimum of effort. That output information shall help you during the decision making process. System will cover its cost just if it prevents you from taking wrong decision for only one time. The rest of right decisions would be your profit.

 

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

November 23, 2015
Magellanic Cloud

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.

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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 cost of $45.

Where to record various types of Transaction?

September 30, 2013
Magellanic Cloud

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

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

But this method 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 etc.

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In Soft Retail Accounting, transactions are not recorded on the basis of vendor process, 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.

In Soft Retail Accounting, there 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:

http://www.mediafire.com/download/pecdhx5i9hzxrsf/Retail+Documentation.pdf

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:

September 3, 2013
Magellanic Cloud

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.

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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.

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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.

Soft Retail Accounting is more like a Management Accounting Software

August 30, 2013
Magellanic Cloud

Although Soft Retail Accounting gives you Financial Ledgers, Trial Balance and Final Accounts, It does not require you to setup “Accounting Period” or “Financial Period” etc. Soft Retail Accounting is not more concerned with yearly or other periodical official reporting, rather it focuses on day to day results, transaction by transaction results. And what is the present position now, right at this moment.

You can see gross profit of every single sale you have made just now. You can see gross profit of whole day right at the time of end of day.  You can see net profit figures of any period by just choosing opening and closing dates. You can see balance sheet as on today or as on any chosen previous date.

You just make any entry in any form, and you instantly see the net outcome of every related aspect. It means that Soft Retail Accounting is more like a Management Accounting which even tells the stock position of the trade item right at the time of selling the item. It is such a Management Accounting System which tells the previous time purchase price as well as weighted Average Price of trade item right at the time of making purchase entry of that item. While purchase demand list will also tell the last time as well as weighted average price of every listed item. You will take right purchase decisions and it will also tell you right at the time of purchase entry regarding how your purchase remained good or bad price wise.

When you open “Items and Prices Setup” form, you can adjust prices of items and you will instantly see how much you can earn profit by selling total stock of that item at the new price. All this sort of instant information reveals the true nature of Soft Retail Accounting … which is more like a Management Accounting System. with Soft Retail Accounting, you will feel your small retail business as your BMW and you will right be on the steering seat having full control of the affairs of your business.

It is better option for your small retail business because official reporting is only the secondary requirement of a small retail business. However having a strong managerial grip over the affairs is definitely the primary requirement…!!!

Soft Retail Accounting

August 30, 2013
Magellanic Cloud

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:

PDF USER MANUAL — DOWNLOAD

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

SAMPLE DATA FILE — DOWNLOAD

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

FREE DEMO READY TO USE FILE — DOWNLOAD

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 PKR.1000/- for Pakistani buyers and price for International buyers is US $10/-. (Note: This is price of freely downloadable version of Soft Retail Accounting. This version is not multi-user enabled.)

BUY Soft Accounting PIN NUMBER NOW

PRICE TAG

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.

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