Online Retail Accounting System

The future of retail accounting is here now

An introductionKey Features and Benefits

For a demo go to www.cvretail.com


Executive Overview • CounterBooks is a leading online retail accounting system.

• Founded by Chantrey Vellacott DFK, a Top 20 UK accounting firm

• Is the only UK accounting system designed specifically for retail and franchise operations.

• Available in multiple languages.

• Currently used by 1000’s retailers in Europe and Africa which ranges from multinational oil companies to single site retailers.

• Recommended by industry experts.



An introduction to CounterBooks• Cloud based – accessed via a web browser – no hardware required.

• CounterBooks delivers the following benefits:-

• Reduction of the cost and time associated with retail accounting.

• Improves accuracy and quality of management information.

• Tailored management reports are available online and can be accessed from anywhere 24/7.

• Extensive management reporting allows the Retail Franchisors to improve business performance and manage risk.

• One SQL central database, with data mining options, provides retail groups with a wide range of management information.




Companies which are already seeing the benefits


General Architecture

Corporate / Franchisor

Retailer/

Franchisee

Utilities etc.

Paper

Invoices

Data Import 95%

Manual Input 5%

AccountantDelivery Notes

Data for analysis

Invoice data

Small local suppliers

Deliveries

reconciled

with invoices

by site manager

Electronic

invoicing

including

Preferred

Suppliers,

Utilities etc.

Data Export File Advice

and

special

bookings

Reporting

POS

Preferred

Suppliers



General Architecture – ReportingInterim Reports

Always up to date

Statutory/Audit Reports

Month End reports

Formatted pdf documents

Territory Manager reports

Head office reports

Site User

Accountant

Data mining

Reporting is customised for the end user

Corporate/

franchisor



Case Study 165 store franchise group

From the daily sales by department data, entered at store level, variable commission rates were applied, and monthly franchise fees calculated automatically. These were produced within 2 or 3 days of the month end.

Case Study 2100+ company owned petrol convenience network

In 2010 the group analysed drive offs in the previous year, by forecourt and by territory. Time taken to produce the analysis – 20 minutes.

Case Study 3All corporate customers

A database search facility allows reports to be produced of purchases by sales department and approved supplier or by sales department and unapproved supplier.

Case study 4250 + franchise group

The group expects their franchisees to complete their data entry within 15 days of the month end and for their accountant to have reviewed the financial statements within a further 15 days.Head office staff can access a real time report showing progress against these targets and exception reports showing those that missed.

Case Studies


The future of retail accounting is here nowThe future of retail accounting is here now

Operating and financial reports for single sites and small groups

Management reporting packages for larger

corporations

No waiting for reports - Instant reporting and analysis available 24 / 7 from anywhere

Real time reporting......



Significantly reduced fees from not having to rely on accountants to enter data

Automatic data entry Imports available from POS

/ BOS and invoice files in xml, csv and excel

Reduced costs...

Online systems reduce travel costs. Site results available to head office and

territory management.

Paper forms, books and sending off invoices for data entry are methods of the past. Cut transmission costs



Management issues - As data is processed online issues can be

identified in time to prevent problems

No waiting for meetings - An integrated message- and helpdesk system provides efficent communication and service

Reducing operational risk...

Security - server is located in a purpose built data run by a

professional hosting company; data centre backed up daily and taken off site to secure storage



Single Site Operation

Daily Reconciliation - Credit sales

Credit sales screen used to record daily credit card totals and local account sales

The order and default selection of companies/persons listed is completely customisable

Non-regular credit accounts can be set up via the drop down menu




Daily Reconciliation - Cash payments

Entries are recorded for cash paid invoices, sundry cash receipts and cash payments without invoice

Entries are made by type and displayed together for easy reference




Daily Reconciliation - Cash/Float

CounterBooks calculates the closing cash float and displays any variance to the actual

Multiple bank accounts can be recorded as cash transferred to and from required

Cash / Float screen provides easy to view summary of reconciliation entries for each day




Daily Reconciliation - Report

Final report screen displays all daily entries for review

Daily reconciliation reports can also be viewed for any day via the reporting menu

The cash difference must be accepted prior to advancing to the next day




TransactionsThe transaction screen is used to record invoice entries, pre-payments, accruals and journals

Automatic invoice entry importing flat files.Each entry is saved with a

unique transaction number and can be easily located at a later time




Payments

All invoices & credit notes requiring payment are automatically displayed

Can be sorted by due date, Company/Person or invoice datePayments can be made from any

bank. Cash payments recorded will automatically update the daily reconciliation




Bank TransfersRecord receipts directly into the bank from credit card companies and trade debtors

Notes can be entered if required against each transfer

Also records sundry payments, such as non-cash private drawings, and VAT payments and refunds




Bank Reconciliation Allows all the movements of funds into and out of the banks to be viewed as entered on the system

Items are checked against actual bank statement

Can hide cleared items to help reconcile the bank



Reports Single Site

Interim Reports

Interim reports provide full analysis of all data entered

Key operating reports such as wet stock reconciliation, profit and loss, gross profit per category and balance sheet are all available immediately the data is entered

Access to each report can be controlled



Reports Single Site

Gross Profit per Category

This report shows the gross profit per sales category. Using target margins an estimate of the closing stock is made

The user can drill down on each category to purchase invoice level

Reports Single Site



Reports Single Site

Audit Reports

Trial balance together with detailed and summary general ledgers. Other search facilities make it easy to find individual transactions and banking entries

Reports Single Site



Month End Reports

End of month reports following r review of data by accountant

Reports published in pdf format and viewed using Adobe Acrobat Reader (see attached pdf)

Turnaround time of 24 hours from completion of accounting review to production of reports

Reports Single Site



Head Office Reports

Reporting Tools



Data Analysis Tool• For Head Office or Territory Manager

• Site comparisons

• Easy to create your own reports

• Export to excel

• Exception reporting

• Early warning reports

HO-Reports MultiSites



Head Office Reports

Data Analysis – selection of site



Head Office Reports

Data Analysis – selection of category

Head Office Reports



Data Analysis – metric selection

Head Office Reports



Data Analysis – balance sheet

Head Office Reports



Head Office Reports

Data Analysis – site versus category

The data analysis can be displayed in different layouts



Head Office Reports

Data Analysis – category versus siteData can also be exported to excel and be used for graphics etc.

Head Office Reports



Head Office Reports

Data Analysis – category versus metric selection

Head Office Reports



• If you are interested in finding out more about how Counterbooks could empower you and your stakeholders by reducing costs, improving accuracy and making more informed business decisions - Please visit www.cvretail.com

Or call (44) 020 7099 1050


http://www.cvretail.com/

Online Retail Accounting System

Documents

Transcript of Online Retail Accounting System