Our clients have had best backup experience with dropbox.com. Soft Retail Accounting is simple MS Access 2010 file. Just save this file in dropbox folder. The folder will itself manage backups of this file. Dropbox is free up to 2GB whereas Soft Retail Accounting blank file is almost 40 MB and there is long way to reach 2GB threshold. Therefore enjoy the benefits of free dropbox folder. You can download dropbox folder on two or more different computers/laptops with single account. Using this strategy, some of our clients make purchase entries at home at night whereas sales is entered at the time of sale at business place. However Soft Retail Accounting should not be opened on more than one system at the same time as it could generate multiple copies on dropbox folder.
With Soft Accounting file saved in dropbox folder, you can restore any previous version of file in case something went wrong recently. Also if your system crashes, you can download dropbox on a different system with same account and you will see your Soft Accounting file intact in dropbox folder.
There is no need to continuously use internet while using dropbox. You can make entries during offline then get connect for few minutes. All the updates will automatically be saved on Internet. If you do not use Internet at all, then you should manually and regularly keep backup copy of Soft Retail Accounting in your flash drive or any other external storage device.
It is sale entry for that item with zero or reduced price. If item is completely spoiled and cannot be sold then make usual sale invoice entry right when item is spoiled or comes to notice. The listed price will come automatically. You will manually replace the price with 0. Furthermore, you will also manually edit the ‘explanation’ of that sale invoice. For a normal sale entry, there is no need to enter ‘explanation’ because it is automatically written by the system. But for a spoiled or wasted item’s entry, ‘explanation’ should be manually modified.
If wasted product is sold at reduced price then make this entry at the time of sale. The effect of sale invoice entry with zero or reduced price will be that the entry will be reflected as ‘loss’ in relevant reporting.
Let’s say a Toys and Cosmetics Shop is already running. If business is to be shifted to Soft Retail Accounting on let’s say 25-05-2018, then we are in need to enter two things in system:
Stock Positions as on 25-05-2018 and;
Balance Sheet as on 25-05-2018.
Let’s say following is the stock position as on 25-05-2018 (Table-A):
And following is the Balance Sheet as on 25-05-2018 (Table-B):
Now download Soft Retail Accounting ready to use demo file from this link:
It takes less than 1 minute to download. Password is — mysystem
After entering the correct password, main screen will be displayed and you will press ‘Setup’ button. Following screen will be displayed.
First option ‘Company Setup’ is very simple. This form is already filled with sample data and you only have to replace it with your information. We here ignore this step and assume that sample data is your own information.
Our first task is to enter stock positions as on current date. But before feeding stocks, we are in need to tell the system regarding what are the trade items. Here we have only five (stock) items so we can easily feed these five items in ‘Items and Prices Setup’. Following screenshot shows that all these five items have been properly entered:
Note: Here we have not added item pictures. Item pictures are optional. System will work if you choose not to enter pictures. You can however anytime include pictures of items. Also note that here we have entered ‘sale price’ against each item. We shall add ‘cost price’ at the time of entering opening stocks.
After having entered all the items, now we can feed opening stock positions as on current date. On the ‘Setup’ page, this is the third option and following is the completely entered ‘Opening Stock’ form:
Now we have to enter opening Balance Sheet. It is 4th option on ‘Setup’ page. But from the setup page, we can configure Balance Sheet except for Cash, Bank and stock Accounts.
In this case, we have only stock and cash/bank Accounts in the opening balance sheet. In Soft Retail Accounting, opening stocks entry automatically debits ‘Purchase’ Account. Unsold portion of ‘Purchase’ Account is automatically reflected as ‘stock’ in the Balance Sheet. So we do not need to configure stock in Balance Sheet. But since opening Stock was basically cash purchase entry, so we are in need to bring equivalent cash i.e. Rs.19090/- as capital. Following is cash book entry for this purpose:
Note that this entry is made in date 24-05-2018 because on 25-05-2018 this cash will be ‘spent’ in ‘opening stocks’.
For Cash in hand, Bank A and Bank B, following will be the entries.
Now see that due to automated features of Soft Retail Accounting, opening balance sheet form was not even employed. We made only opening stock entry and cash book entries. After these entries, Cash Book Report (from ‘Financial Ledgers’) will be reflected as under:
See that opening stock entry is automatically reflected in Cash Book Report. And this report is telling nothing about Bank Accounts. Because in Soft Retail Accounting, we get separate Ledger Account for every bank account. Following are both Bank Account Reports:
Not only above, in fact we also have got ledger accounts of ‘Capital’ and ‘Purchase’ Accounts as well as inventory ledger accounts of all the five trade items . With simple opening stock entry and cash book entries, whole setup procedure not only has completed but we have received all the reporting up to final accounts. Following is the Balance Sheet of our newly entered business:
In Soft Retail Accounting, we feed only the minimum of input while get maximum reporting as output. But in this example, there were only five trade items. Any running business will have far more trade items and opening stock entry will be a tedious process. As an option, you can provide us your current stock list (Table-A) and Current Balance Sheet (Table-B) in Excel format. We shall import your stocks and balance sheet in Soft Retail Accounting at no extra cost.
However we clearly state here that standalone Soft Retail Accounting functions optimally with maximum stock items between 1000 to 2000. This range is suitable for many kinds of trade/retail businesses such as Garments Shop, Cloth House, Toys Shop, Paint Shop, Tyre Shop, Spare Parts Shop, New Vehicle/Motorcycle Show Rooms etc. However large super stores will have to look for other options that also include high end client server or cloud based Soft Accounting Implementations.
Soft Accounting file of Toys and Cosmetics Shop where we made these sample entries of opening stock and configuration of opening Balance Sheet may be downloaded from this link. Password is mysystem.
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.
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.
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.
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.
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.
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 cost of $45.