Enhance & automate business processes via back-office integration

A significant component to knowing your profitability is precisely tracking the cost of goods sold. Through FIFO (first-in, first-out) product costing, you will not just view the real value of your inventory but additionally attain an awareness of your profit margins on goods sold with time. What’s more, through iWebsquare you will be able to select whether to take into account your COGS at the point of shipment or invoice.

Knowing landed costs is essential for retailers as well as wholesalers seeking to obtain an accurate view of their profitability. Along with bundled Landed costs, you'll be able to make sure precise profit analysis and financial reporting, making it possible to account for properly, and report on, the profit made on each sale throughout all sales channels.

Regardless of whether you're invoicing an order, getting a payment, processing a shipment or obtaining goods-in, journals are going to be designed instantly, updating your company's financial reports. Having a real-time P&L and balance sheet, you'll get priceless advice about every facet of your business's finances, making it possible to make smarter business decisions.

Through iWebsquare, you can select to utilize our completely integrated, real-time accounting to operate your business or, else if you desire to continue to use your existing accounts software, that’s good as well - our purpose-built integrations to the key accounts packages provide you with the flexibility to select. And whenever you do opt for third-party accounting software to open and close your books, you could still take advantage of the real-time sales performance reporting in iWebsquare.

Purchase from overseas suppliers, sell to customers worldwide and bank in every foreign currency, all within a single system. iWebsquare’s multi-currency accounting allows you to open up to global trade genuinely. Handle your company's supplier and consumer accounts, together with their orders, invoices, payments as well as debts, in their local currency while keeping accurate financial reports.

Put together all of the purchasing, sales and accounting activity within a single system. Along with iWebsquare's cloud-based accounting, you’ll gain from interconnected data and a full audit trail. Every transaction is connected to its order or credit enabling you to easily and quickly navigate between contacts, invoices, payments, and their supporting journals. After that, you can spend less time validating and fixing data.

It’s essential that the transactions in your accounting system fit your bank statements; therefore you have to balance out your bank accounts to ensure that each deposit, withdrawal, bank payment, and transfer is taken into account properly. iWebsquare can make this straightforward with its bank reconciliation capability and bank activity reporting.

Apart from accounting for orders and inventory, it's essential for any retailer to keep tabs on general expenses and overheads to be able to report on net profit correctly. Therefore, iWebsquare enables you to keep track of these expenses through supplier bills, bank payments, employee expense claims as well as, journal entries.

You can track accounts payable and receivable in real-time and across multiple currencies, providing you with an effective way to keep track of money owed across your business. Report on customer/vendor activity, their full financial history or just outstanding or overdue invoices. Send statements, allocate payments, monitor credit limits and payment terms, all in one integrated system.

Regardless of whether your company is liable to report VAT or sales tax, iWebsquare has your back. Based on your tax scheme, our integrated accounting software can create VAT returns and EC sales lists, or present data to report on sales tax, making sure you could spend minimum time on back-office administration.