The “End of Day” procedure is crucial for every retailer since they need to account for register counts, cash counts, and recorded sales figures. However, when it comes to back-office operations, this is only where the real challenges begin. Entering sales figures manually, processing returned goods, and recording payments from RMH within the context of Business Central can be exhausting and prone to mistakes made by humans.
However, there is a way for you to eliminate all those issues and streamline the process. Thanks to the x2x RMH Connector, the flow of transactional data between your POS system and your backend accounting will become fully automatic. This connector allows you to link RMH to Business Central and handle all the necessary accounting tasks automatically.
Here is how it works for each of these pillars of retail operations.
1. Easy Sales Posting
After you make a sale via RMH, you will need to ensure that the sales information gets transmitted to Business Central for updating your general ledger and inventory records. x2x solution seamlessly automates the process.
All the product or service sales information, including sales amount, quantity, the total price, tax information, and more, sent automatically to Business Central platform. If you prefer having each sale posted as an invoice or would like to post the sales for the day as a batch, you can configure x2x to work the way you want. This means that once you login to Business Central the next day, you will find all your sales recorded and analysed for you.
2. Making the Returns Process More Efficient
Managing returns is very difficult to do since they are basically the reverse of selling, thereby having an impact on revenue and inventory management. In case of POS refund, Business Central doesn’t automatically recognise it. This situation results in Inventory overstating.
x2x RMH Connector does a good job in managing your returns. In cases of POS side refund. The connector recognizes the refund as a return in Business Central and creates a Credit Memo. Most importantly, the inventory adjustment take place accordingly to ensures the correct restocking of item in a particular location.
3. Accurate Bank Reconciliation
Retail accounting reconciliation of the money you’ve gotten with your sales figures is hard. The number of different “tender types”, such as cash, credit cards, and store credit, makes bank reconciliation very hard.
With x2x connector, there is no problem at all. This connector makes the mapping of the tender types from RMH with the payment types in Business Central. After posting, the connector shows exactly how much of that sale was made using Visa, Mastercard, or Cash.
In this way, the bank reconciliation can be done accurately. You will know exactly how much money should be in your drawer and in your merchant account.
Conclusion
Time is money, and in retail, accuracy means everything. With the use of manual data entry for transferring information from RMH to Business Central, you risk losing both. Using the x2x RMH Connector will turn your accounting into an active process instead of a passive one. With all your transactions automated, your employees can concentrate on serving your customers, knowing while your finances are managed correctly and promptly.
