Real-Time, Intelligent Accounting
IWebSquare automates major processes, significantly lowering the time you invest in duplicate tasks like end-of-day or month-end. Through IWebSquare, every facet of your organization which includes sales, purchasing and inventory feed through into your accounting, developing a single, interconnected point of truth. Reduce time to input data, avoid mistakes and expand your business.
A clear view of your financial situation is essential with regards to making the ideal business decisions. Get instant insight into the metrics which make a difference to your business. From sales performance by channel, SKU, consumer and much more, to real-time inventory valuation, IWebSquare offers these details on hand making it possible to act upon useful insights faster.
Versatile Accounting Option
Are you already utilizing a different platform for your company's accounting? No issue. IWebSquare combines with Xero, QuickBooks, Bill.com and more, meaning you can choose between adopting IWebSquare’s real-time accounting or continuing to use the solution you’ve already got in place.
Smooth integration between your point of sale as well as accounting software to have a hassle-free day at work.
Lightspeed Accounting is an integration that produces a link between your point of sale and your online shop's accounting system. It enables you to sync your company's bookkeeping data between the two automatically.
Data for your company's stores are collected throughout locations, enabling you to arrange your shops by sales, average ticket size and consumer amount. Monitor trends, effectiveness, and compare results with goals to genuinely learn how your business is performing.
Numerous online business platforms have trouble calculating taxes as it's a manual and error-prone process. Organizations need to take into account that not all the states and countries have identical sales tax rates, tracking rates, and tax laws, therefore compliance can be strict. IWebSquare comes along loaded with all the tools required for a stress-free taxation process, which includes sales tax calculation by region along with certificate management via Avalara.
Tax Exemption Certificate Management using Avalara CertCapture
Avalara CertCapture assists create, handle, and save consumers' sales tax exemption and reseller certificates. CertCapture easily integrates with IWebSquare, accounting software, and ERP solutions to monitor transactions that have not got taxed. The online business checkout process is simpler with CertCapture because consumers' certificates happen to be on file, and exemptions get instantly applied at checkout without any difficulty.
Avalara AvaTax can determine tax rates and will apply taxability rules to orders according to location, address, and product type. Whenever you integrate AvaTax with IWebSquare, the taxes a consumer owes will get instantly calculated at checkout. Avatax saves and updates product taxability always to make sure consumers are charged the best rate and no errors happen.
Perpetual inventory, built-in landed cost, COGS and a clear understanding of the state of your business enable you to expand your business.
A significant component to knowing your profitability is precisely tracking the cost of goods sold. Through FIFO (first-in, first-out) product costing, you will not just view the real value of your inventory but additionally attain an awareness of your profit margins on goods sold with time. What’s more, through IWebSquare you will be able to select whether to take into account your COGS at the point of shipment or invoice.
Knowing landed costs is essential for retailers as well as wholesalers seeking to obtain an accurate view of their profitability. Along with bundled Landed costs, you'll be able to make sure precise profit analysis and financial reporting, making it possible to account for properly, and report on, the profit made on each sale throughout all sales channels.
Regardless of whether you're invoicing an order, getting a payment, processing a shipment or obtaining goods-in, journals are going to be designed instantly, updating your company's financial reports. Having a real-time P&L and balance sheet, you'll get priceless advice about every facet of your business's finances, making it possible to make smarter business decisions.
Through IWebSquare, you can select to utilize our completely integrated, real-time accounting to operate your business or, else if you desire to continue to use your existing accounts software, that’s good as well - our purpose-built integrations to the key accounts packages provide you with the flexibility to select. And whenever you do opt for third-party accounting software to open and close your books, you could still take advantage of the real-time sales performance reporting in IWebSquare.
Multi-Currency For Global Expansion
Purchase from overseas suppliers, sell to customers worldwide and bank in every foreign currency, all within a single system. IWebSquare’s multi-currency accounting allows you to open up to global trade genuinely. Handle your company's supplier and consumer accounts, together with their orders, invoices, payments as well as debts, in their local currency while keeping accurate financial reports.
Put together all of the purchasing, sales and accounting activity within a single system. Along with IWebSquare's cloud-based accounting, you’ll gain from interconnected data and a full audit trail. Every transaction is connected to its order or credit enabling you to easily and quickly navigate between contacts, invoices, payments, and their supporting journals. After that, you can spend less time validating and fixing data.
It’s essential that the transactions in your accounting system fit your bank statements; therefore you have to balance out your bank accounts to ensure that each deposit, withdrawal, bank payment, and transfer is taken into account properly. IWebSquare can make this straightforward with its bank reconciliation capability and bank activity reporting.
Apart from accounting for orders and inventory, it's essential for any retailer to keep tabs on general expenses and overheads to be able to report on net profit correctly. Therefore, IWebSquare enables you to keep track of these expenses through supplier bills, bank payments, employee expense claims as well as, journal entries.
You can track accounts payable and receivable in real-time and across multiple currencies, providing you with an effective way to keep track of money owed across your business. Report on customer/vendor activity, their full financial history or just outstanding or overdue invoices. Send statements, allocate payments, monitor credit limits and payment terms, all in one integrated system.
Regardless of whether your company is liable to report VAT or sales tax, IWebSquare has your back. Based on your tax scheme, our integrated accounting software can create VAT returns and EC sales lists, or present data to report on sales tax, making sure you could spend minimum time on back-office administration.
We provide the platform and infrastructure necessary to scale quickly and increase revenue, with everything under one roof.
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