The link between our small business POS software and Xero cloud based accounting is helping small business retailers eliminate time-consuming and error prone bookkeeping steps … and this is money in the bank for small business retailers.
Our POS software Xero link runs in the background, delivering data to Xero so it is working for you rather than you being a slave to it as is often the case with older approaches to accounting software use in small business retail.
Using Xero ourselves in our own retail businesses, shops we own as live test beds for what we do here, we know the benefits, we see then and bank the benefits.
We have an in-house accountant who oversees our various businesses and he delights at the time saving from the PO software to Xero link. He also delights over the mistake elimination by cutting out what were manual processes.
This is the key of the link to Xero.
And when you overlay the Tyro broadband banking solution for small business retail you have an even better solution cutting more processes, freeing up more cash and empowering small business retailers for better outcomes.
What is Transferred to Xero?
Sales
End of Shift based department-level sales are transferred to Xero via a sales invoice. Each department can be assigned its own Xero account.
Invoices
Invoices received into Retailer are transferred to Xero at department level. No individual stock items are transferred.
Write Offs & No Sales
These are transferred to individual expense accounts depending on the transaction reason chosen.
Cost Of Sales
An option on sales exporting is to export Cost of Sales. While not a full implementation of COGS it does transfer over the cost price of items sold each day to reduce the value of Stock On Hand in Xero. If you use this option you will export Write offs, not as expenses, but as adjustment to your Stock on Hand. This makes processing stock adjustments for the End Of Month much easier.
