In an exciting move set to transform how businesses handle their financial management and retail operations, Bookkeep, the best-in-class accounting automation platform, has joined forces with KORONA POS, a leading retail point of sale solution. This dynamic collaboration aims to bridge the gap between accounting and retail, providing businesses with a seamless and efficient way to manage their retail transactions and financial data.
Bookkeep generates accrual-based summaries, posts journal entries, and reconciles payment deposits automatically from multiple sales channels to accounting systems. Its technology seamlessly integrates with KORONA POS’s innovative retail management system, allowing businesses to accurately track sales, manage inventory, and analyze customer behavior while maintaining real-time, accurate financial records.
One of the most in-demand features of this collaboration is Bookkeep’s sales tax automation. The platform automatically sends daily sales data to DAVO by Avalara, where sales tax is set aside daily to a secure tax holding account separate from general operating funds. This function automatically files and pays sales tax when due.
The service eliminates the stress of manually managing the sales tax process every month. Professionals who use Bookkeep save at least 20 monthly hours per client and can deliver more accurate, up-to-date reports to retailers.
According to Till Freier, the CEO of KORONA POS, "By combining our expertise, we are paving the way for a new era of integrated solutions that redefine how businesses approach financial management and retail operations."
This partnership enables KORONA POS to connect seamlessly with popular accounting platforms like QuickBooks Online, Xero, and Zoho Books. Businesses can now effortlessly transfer thousands of KORONA POS orders, payments, refunds, and more directly into their preferred accounting software. This streamlined approach simplifies the reconciliation process, allowing businesses to focus on growth and customer satisfaction.
“eCommerce accounting costs businesses thousands of dollars in lost staff time and revenue each month. This can be solved by using the right automation tools,” said Jason Richelson, CEO and co-founder of Bookkeep. “Our software simplifies revenue accounting and helps business owners understand their gross profit margin on a daily basis, which is essential to business success and growth.”
About KORONA POS:
KORONA POS is a trusted name in retail management solutions, offering advanced tools to streamline point of sale transactions, inventory management, and customer relationship management. Focusing on enhancing the retail experience, KORONA POS helps businesses optimize their operations and boost profitability while powering their day-to-day operations.