One of our here. They have, I note issued no evidence to show why the information supplied by Xero about their API which I reported is incorrect.
In any case, my advice is unchanged there are six systems servicing the Australian Cloud accountancy market - MYOB, QuickBooks, Reckon, Saasu, Sage and Xero. All are good systems. All are worthy of looking into. For the record after an internal review, we decided on Quickbooks for our business.
Now is the time of year when importers of POS scanners, printers and scales start cutting prices to move the equipment that they have not been able to sell.
They are sitting on piles of equipment that they have purchased for expected sales, which did not happen. They know that little of this stock will move until February or March next year, and they have the large holiday pays to make as people are going on holidays soon. So to raise funds, they cut their prices currently to move this dead stock.
So if you are interested in upgrading your Point of Sale equipment, now is the best time to do it.
You can with us, unlike others seamlessly integrate your Point of Sale software into a range of accounting systems, including Xero.
There are, however, a few limitations in importing into Xero that you need to be aware of, this is not caused by us but the importing mechanism used by Xero.
The main limitations that worry us are:
1) Xero is designed for people that have less then 1,000 Debtors Sales invoices a month. We have many clients that do more than 50 invoices a day.
2) Xero can handle only up to 2,000 bank transactions a month. A person with a decent website could easily go over that.
3) Xero recommends no more then 4,000 stock items. Most of our clients are way over that.
None of these is going to be a problem, if you decide to use your Xero as a summary tool for your accounting, but it will if you intend to do detailed accountancy in Xero.
There are many more limitations and its a worth a read here if you are thinking of using Xero.
Overall, my advice is unchanged. Think carefully how your business works, please do not assume that all accountancy programs are the identical, as they all have pluses and minus even though they do the equivalent task. What I would suggest is you take advantage of the free trial periods that many accountancy systems offer to test the system to see how it works in your business.
When an employee leaves your organization, you need to consider what precisely does this employee have access to. This is not an easy task, as in today's world with the proliferation of products, it can be major problem to find out what exactly they do have access to, which can be very tricky as many in business have ‘shared passwords' and it is difficult to know if they know these. A common example here, is the company Facebook account, if in doubt, change it.
For their work accounts, I suggest is that you keep their accounts but promptly change their passwords to a special code that only you know just in case you need to review the information.
Furthermore, you may want to check if something has been left on your computer, we had one client who we discovered had a bit torrent software running. We think that an ex-employee left it on their computer to use as a VPN to download illegal movies.
Well early figures released by the Australian Retailers Association (ARA) with Roy Morgan Research are showing an increase in sales and consumer demand compared to last year. As these people have been accurate in previous years, and this prediction does have a ring of truth to them, as economic growth is up, employment growth is also up although we have not had a pay rise in a number of years, I tend to believe them.
When I did a google trend analysis it shows the same upward trend for Christmas.
Blue is 2017 from the 10/10/17 to now, red is 2016, yellow is 2015 and green is 2014. As you can see blue(2017) is up.
So overall the signs look good for a good Christmas for retailers this year.
Make sure your prepared.
"You Can't Manage What You Don't Measure"
Every now and then, you are going to have a big event in your shop, a local fair, a major sporting event near your shop, some advertising that you surged on. Etc ., You need to measure your shop to see how it went for you.
Here are two KPIs that I recommend you use in your shop as an absolute minimum for shop management.
If you are in a shopping center, you may get this figure from the center management, if not or want personalised figure to measure this you need a simple counter that can be purchased from many electrical shops. Now what you do is set it up and generally last thing every day, you record the number of people that entered your shop on that day. You can get dearer ones that automatically do this but people counters, I have noticed is if you want something better then simple, the price and complexity goes up dramatically. As such I would suggest going with a cheap one first and afterwards if you discover you need more, look for a better one at least you will, then know what you need.
Now what you need to establish is a base count which is what you are your staff do everyday. Say, for example, you establish that you and your staff cause about 20 counts a day; you need to deduct this from the recorded number.
Profit per day
There are three measurements usually used - Number of sale, Turnover and Profit. The main reason that people use turnover is because marketers rarely get access to profit figures so most of the books and reference material work on turnover. This is not a problem with most SMB shops. So I would suggest my clients concentrate on Number of sale and Profit and ignoring turnover.
Now there are a number of profit reports in your POS system, check a few until you find one you like. I like the top sales report as it gives all the information, but you may prefer something else.
After a while, you can start doing the analysis.
Select a day say a week before the promo and compare its foots traffic to the promo foot traffic.
Similarly compare the profit figure to the promo.
This gives you six points to consider.
|Foot traffic||Profit||Possible causes|
|Up||Up||A great result - you need to figure out what you did right|
|Up||Similar||People came but maybe those promo people did not like what you had or maybe you did not present the promo correctly.|
|Up||Down||Almost certainly the discounts you offered were too large for what it was|
|Similar||Up||No-one came because of the promo but interestingly your regulars brought more|
|Similar||Similar||Nothing, promo was a waste of time and money. Unfortunately, this is all too common.|
|Similar||Down||No-one was interested in the promo but your clients who are bargain hunters took advantage of the promo|
|Down||Up||Probably something stopped people coming like the weather, but I would not write off the promo yet as those people that did come did buy more|
|Down||Similar||Again, something stopped people coming, but this needs investigation as less people and you have more sales per person|
|Down||Down||Again, probably something stopped people coming, but less people so less sales is in this case a normal result|
This sort of analysis is commonly done by professional marketers. So have a play and see how you go.
If you have a small harddrive, what can happen is that you can start to run out of room?
When clients need more space on their harddrive, what I do is load a program to look for the extremely large files, which have dates in them that are very old. Generally, these are very old backup files say five (5) year old plus. Also what I look for is video files, generally once people have seen them they no longer require them.
This program is called Wiztree can help you get more space but be careful before using it.
You can get it here.
Today’s retailers are in the middle of a revolution in payment receipts as cash and cheques are going and being replaced by electronic money, which goes straight into your pos system. The question here is at whose expense is this change? This question worries my readers here.
Firstly, let me say that cash and cheques handling is not free. It takes time just taken to get cash from the bank, time taken to prepare documents for banking and after that time taken to take cash to the bank, after that there are costs such as incorrect change, stealing, etc. These costs are in total difficult to measure, but as a rule, a retailer needs a few percent margin just to pay these costs say 1.5%. These costs are NOT INSIGNIFICANT. Hold that thought!!
Then there are also hygiene factors for many of our clients in the food industry. Who wants to get a cash notes and coins in a bakery with cream on it.
Secondly do we really have a choice? Many people now for example carry almost no cash. For many people if you cannot handle electronic money, they cannot buy from you. The really bad news for retailers is that the enthusiasm with which Australian consumers have taken to contactless transactions, has created the conditions were they have no choice but to accept them.
Contact unit where a person has to enter a pin number or sign is generally about 9 cents fixed.
As contactless payments are now starting to take off. The problem here is that being contactless they are being routed through a different part of this complex chain through the banking network and so will incur extra costs. Although these costs tend to vary, they generally are about. 9% to 1.2% say 1.05%.
Now let's do some calculations, say you are in an SMB where you are doing 40 transactions of about $50 a day or about $2,000 on EFTpos daily.
With cash, assuming, you can get it; this will cost you about 1.5% or about $30. Despite what many think cash is the most expensive and least insecure payment service you have.
With the contact system, it costs you 40 transactions x 9 cents = $3.60.
With paywave, contactless, it will cost you about $21 less then cash but sigificantly dearer then contact.
This is the"hidden" burden.
There is some good news. EFTPOS Australia has begun to roll out cards capable of contactless transactions with cheaper fees.
If you sell or handle items by weight, for example, you sell groceries, etc. you sell or handle items by weight, and so you can speed up your processing in our point of sale system by integrate directly with an electronic POS Scale.
There are many advantages to doing this, here are some in no particular order.
- There is no reason for price embedded barcodes. Not having these will give you flexibility when selling plus it also makes it easier to change prices.
- It is faster as there is no double handling. At present, what you probably do is weigh out the items and then manually type it into the computer.
- As your client moves through the shop, each weighing can be stored in a held transaction so saving time at the end, only one weighing required.
- All the information is clearly displayed on the receipt unlike now.
- The information is stored on the computer for future reference.
- Cost as you automatically get a top of the range scale with functions only available on very expensive scales.
- The information can be shown on the clients' double display, so showing them all the details about the transaction while it's being done.
- Fewer mistakes as no double handling
- Goverment certification of weighing as our scales are certified by the National Measurement Institute
All our scales integrate seamlessly.
Once you get it, you are going to love it. If you want to know more let me know.
Our clients are our most foremost asset and providing them with the best service is what we strive to deliver. One way we do this is by not surcharging our cclient'spayments. We understand that our clients like using credit/EFTPOS cards so penalising them when they pay us, is annoying to tthem. So POS Solutions is a surcharge-free merchant, that means you are free to use your credit/EFTPOS when shopping with us without any extra fees.
Furthermore, continue benefit clients and will accept payments in the mode that our client is most comfortable with.
If you want to know more please click here.
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