Yes, it can!
Good POS software provides you with tools for checking / tracking GP% and thereby cross-checking to see if data errors have been made that result in inaccurate information as to the profitability of the business.
Our POS software helps mitigate against data errors by eliminating human touch of data as much as possible. However, not all human touch can be avoided, and this opens to possible data errors, which can play out to GP, business profitability reporting and, eventually, tax liability.
Our Tower Systems POS software helps small business retailers to identify and resolve data errors that feed an inaccurate gross profit reporting situation. Our help desk team also provide comprehensive support for any business chasing problematic data. Our retail business support team go further and provide help from an accountant perspective, where a issue may be revealed in the P&L – we work back to the source, which is usually inaccurately entered data in the POS where someone has not followed basic principles or, worse, someone has manipulated the processes to hide fraud.
We saw a situation recently where a local retail business using other software, not from us, was confronted by a tax bill that was considerably higher than expected. They had been trying to get help through the POS software company they were using. As that was not working ut for them, they sought our help. We showed how we track and manage GP fluctuation in our software and encouraged them to speak with their POS provider again, to ask for more useful help in getting to an understanding of what has happened.
Can your POS software help identify a gross profit problem in a retail business?
We are grateful to answer yes to this question – through our software, our help desk and our retail business support team.
POS software is only as useful as support provided by those who make and care for the software and its users. It is frustrating seeing a small business owner left with a challenging situation for which there should be answers in their business data, but, answers they cannot find for themselves as they do not have the requisite tools and knowledge.
Good software support is key for small business retailers using POS software.