Are you looking for best accounting software for wholesale or distribution businesses online? It is very confusing and frustrating to find the best accounting software for your business.
Whether you are running a wholesale business or looking to start your own wholesale business, the need to manage the accounting for your wholesale business becomes paramount. I’ve been dealing with different accounting software for all my retail / wholesale businesses ever since I started working. The software you should look for depends on how you operate your business. To help you out, here are some best accounting software for distributorship that you can consider to buy in 2021.
Ability, LLC — Ability 585 ERP
Enterprise resource planning (ERP) is a way to integrate internal and external information across an entire organization, including integrating information from finance, accounting, manufacturing, sales, and other departments or divisions.
Ability 585 ERP is accounting software designed to help you implement an enterprise resource planning system for your business. The software is designed to meet a manufacturer’s need of traceability, especially tracing the actual costs of production and is also designed to operate effectively in a lean manufacturing or lean production environment (where expenses of resources for any goal other than creating value to the customer are eliminated).
To this end, Ability 585 ERP aims to improve a manufacturer’s profit margins, reduce costs, and increase process efficiencies. The Ability 585 software has accounting software modules, which include Master Resource Planning, Project Planning, Scheduling, Orders, Accounting, Shop Floor, among others.
Accountek Solutions — Connected Enterprise Accounting & ERP
Connected Enterprise Accounting & ERP is another powerful enterprise resource planning (ERP) system. This software integrates business information across all departments, including sales, manufacturing, engineering, accounting, and finance, to improve business results.
Connected Enterprise Accounting & ERP software is designed for distribution, manufacturing, wholesale, nonprofit, medical supplies, food service, and import/export companies and provides a way to manage all aspect of a high growth business. Connected Enterprise Accounting & ERP also has advanced accounting modules, such as inventory and job costing modules.
Ability Commerce — Ability Commerce OMS Order Management
Order management systems can help streamline order entry, inventory control, and shipping processes. Ability OMS Order Management is an integrated order management system designed to process customer information from a variety of sources, including call center, website, Amazon.com, and point of sale in order to streamline the order management process.
Ability OMS Order Management is able to automatically update all sales channels and other third party software whenever an order is placed. Therefore, a brick-and-mortar retail store, a company website, a direct mail catalog, and other sales channels are all interlinked. For this reason, Ability OMS Order Management allows managers and business owners to spend more time running their business and less time managing their inventory processes.
QuickBooks Commerce
Overview
QuickBooks Commerce is a cloud-based distribution platform that’s well-suited for small and medium-sized wholesale and e-commerce companies. QuickBooks Commerce customers operate in a variety of industries, such as electronics, food and beverages, fashion and healthcare. The vendor offers assistance through a portal, where customers can ask questions and representatives provide helpful answers. There are four levels of support – Founder, Lite, Small Business, and Business. The cost starts at $39/month per user.
The program itself combines a variety of workflows, including manufacturing, sales, order management, CRM and distribution. The system can track different business-relevant KPIs and enables you to monitor aspects such as account balances, orders, late payments and transaction history. QuickBooks Commerce automates the order routing process by aligning sales and inventory information. EDI software integration is also available through the B2B E-Commerce portal.
QuickBooks Commerce offers a range of applications that help streamline warehouse operations, such as printing barcode labels, receiving stock and taking stock. The Mobile App provides a visualization of data to help monitor inventory levels, contact customers and manage orders. The solution also contains a built-in payment gateway that’s integrated with sales orders and can, in turn, develop invoices based on past orders.
Benefits
Batch and Expiration Tracking: This program enables users to keep track of product expiration and order fulfillment to decrease product recalls, leading to a boost in revenue. You can assign products to inventory by buckets and create/edit products in batches. The system contains a Stocktake tool, which enables you to adjust and transfer stocks. You can also trace products by customer and see inputs on expiring batches with this tool.
Order Fulfillment: QuickBooks Commerce offers rapid order fulfillment through the execution of workflow action items. The program can integrate with ShipStation and other third-party add-ons to send shipping specifications and returns to 3PLs.
Accounting: The accounting process is completely automated through QuickBooks Commerce’s integration of inventory and order management workflows. Multi-currency support is included and can help users develop accurate conversions. The solution can also generate split invoices and integrates with Xero for increased financial management functionality.
Customer Relationship Management: The CRM tool in QuickBooks Commerce can automate the discounting process by collecting customer information such as postal addresses, billing details, average purchase types and purchase sizes. Users have role-based access to customer and supplier information, helping in shipping management and the creation of default custom addresses for customers.
Multi-Channel Inventory Management: You can manage orders from all sales channels in a centralized location through this system. The program supports sales from any country and in any currency. You can eliminate stock shortage through synchronized stock information.
NetSuite
Overview
NetSuite is a cloud software solution that centralizes a variety of operations to automate and streamline essential business processes. Businesses of all sizes and in a variety of industries, such as energy, financial services, advertising, hospitality, manufacturing, retail, logistics and transportation, use this system. Some of the program’s key modules include supplier and vendor relationship management, order fulfillment and inventory tracking.
The order and billing management functionality in NetSuite centralize finances, sales and fulfillment to help manage quotes and reduce billing errors. Warehouse management is available for multiple locations to optimize, configure, define and store inventory. NetSuite has more than 16,000 customers from more than 200 countries and territories, meaning it’s an effective option for global organizations.
Benefits
Order Management: NetSuite controls the process from the time a sales quote is entered to the time an order is fulfilled. The program can manage quotes and reduce billing errors through the integration of workflows such as finance, sales and fulfillment.
Workflow: The program contains prebuilt functionality for omnichannel engagement and includes financial management applications that are configured with marketing support.
Source Management: This tool uses supplier performance data to effectively manage suppliers. NetSuite offers a real-time supply portal that centralizes the purchasing process and ensures compliance. The system also contains dynamic forecasting and operational planning functionality, with the algorithm continuously reforecasting based on any deviance in data.
Warehouse Management: Multi-warehouse support is available through this tool. The solution can optimize, store, define and configure inventory through aspects such as barcode labeling, warehouse activity dashboards, expiration tracking and shelf-life tracking.
Customization and Visibility: Organizations can view information related to customers, items, orders and inventory in a centralized location with NetSuite. The program can be configured to meet unique business needs by setting rules and managing requirements through the built-in automation capabilities in the solution.
Absolute® Software Corporation — Absolute Data & Device Security (DDS)
This one is not quite accounting software pre se, but as your accounting and inventory tracking becomes more robust, you are going to need to keep all of your information secure. Retailers are beginning to rely more and more on mobile devices for inventory control and management processes. This reliance has proved to be a challenge for IT departments since employees often use their own devices and it’s difficult to support the diversity of mobile devices in the marketplace.
Absolute Data & Device Security (DDS) for mobile devices allows retailers, manufacturers, and other businesses to remotely manage the iOS, Android, and Windows Phone devices. You can wirelessly (using a data plan or Wi-Fi) configure, query, and even wipe or lock managed devices so that you have more control over the access granted to employees and other third party vendors who are working with your inventory.
Conclusion:
One of the key ingredients to success in wholesaling is having good accounting software. If you’re wondering about best accounting software for wholesale business, then you’ve come to the right place. Accounting is the backbone of your business – and you need to have a financial software that can help you not just stay organized but also helps to increase your profitability and deal velocity.