Accounting software for wholesale and distribution harmonized with order management

Automate and streamline accounting operations. The wholesale and distribution accounting software built into our cloud ERP solution is cutting the workloads for US wholesalers turning over $500K to $500M. Easy to use, customizable and versatile.

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Trusted by accountants to reduce work

Right at this moment, our accounting software for wholesale and distribution is reliably working and reducing the back-office workload for companies across four continents, with different business models, in different markets, with different accounting and tax requirements.

Accounting software for wholesale/distribution intro

 

Accounting automation opportunities

Accounting professionals know automation makes total sense. Because it’s about the numbers, batches of repetitive accounting tasks are ideally suited to be processed by software.

Salesorder is easy to use wholesale distribution accounting software for simplifying and automating AR/AP and other back office tasks. 

Salesorder contains ready to use automation features. For example, but not limited to:

AR & AP operations:

  • bulk creation and emailing of Sales Invoices (and Cash Sales)
  • bulk application of payments to Sales Invoices
  • bulk application of payments to Purchase Invoices
  • bulk processing of EDI transactions
  • bulk updates to Item catalogs and pricing
  • bulk preparation and emailing of Customer statements
  • bulk sending of reminders to Customers

Tax automation for collection and reporting:

  • automatic recognition and application of Sales Tax based upon Nexus status, customer profile and Item tax.
  • digital filing of returns

Intercompany operations:

  • back to back Purchase Order / Sales Order, Sales Invoice / Purchase Invoice automated exchanges between Salesorder instances.
  • Intragroup stock visibility of each other’s stock rooms and levels

Inventory operations:

  • stock valuation and stock value correction
  • bulk stock adjustments
  • bulk generation and aggregation of Purchase Orders for Inventory

Automation solution engineering

Our Solutions Engineers can review your accounting team’s time-consuming tasks and create simple to complex automation to reduce errors and execute repetitive tasks efficiently.

These types of automation solutions take just a couple of weeks to design, test and deploy.

Here are some of the examples we’ve worked on with our customers and partners:

Task Automation opportunity
Accounts Payable incoming Supplier Invoices Transformation and auto record Supplier Invoice PDFs then match with Purchase Orders.

Process EDI Purchase Invoices

Accounts Receivable outgoing Customer Invoices Transformation and auto record Customer Orders from emailed PDFs

Create and transmit EDI Purchase Sales Invoices

Posting of accounting transactions to and from other vendor systems MRP transactions i.e. Stock Adjustments

Post to group General Ledger

Post Invoices to Tax authorities

Depreciation of Fixed Assets Automate adjustments based upon type of Asset, accounting policies and general ledger account mapping.

General ledger: joined up and real time

The wholesale distribution accounting software features permeate throughout the sales and fulfillment functions. This means your general ledger is always up to date.

accounting software for wholesale and distribution

Inventory accounting

Products are ‘Items’ in the wholesale distribution accounting software. Each Item can be mapped to the GL accounts. Tax settings for Items control its taxable status depending upon where it’s sold and who it’s sold to.

Salesorder uses the average cost method (aka weighted-average method) and assigns a cost to inventory items based on the total cost of goods purchased in a period divided by the total number of items purchased or produced.

Salesorder’s warehouse management system tracks stock as ‘instance’. Instances can represent an individual or multiple stock items. Both instances types have a quantity. This allows users to track Items with serial numbers and Lots.

Stock adjustments enable users to modify quantity or stock values, or both. Similarly, Warehouse management system users can receive physical stock independently without affecting the balance sheet.

Item receipts update the relevant asset account(s) balance sheet without affecting the Accounts Payable.

Unlike some wholesale distribution accounting software, Salesorder’s accounting always preserves the Item receipt.

Cash flow analyses

The communion of Sales, Fulfillment and Accounting functions and data in one database gives users end to end visibility of all transactions. Because of this joined-up thinking, perspectives of cash flow are easy to create and track.

Our platform’s accounting software for wholesale and distribution has a highly granular, and overarching cash flow forecast dashboard. Users can model what if scenarios and drill down to explore every underlying transaction.

accounting software for wholesale and distribution cashflow reporting

Credit Control

Users can implement credit policies on Customer masters and their subsequent transactions, specifically:

  • the ability to enable ‘automated’ credit checks based on credit limits or invoices ‘past due’.
  • Set Customers on hold manually with configurable options to choose what to allow when Customer is manually set on hold, i.e
    • Allow if insufficient credit,
    • Prevent if insufficient credit
    • Warn if insufficient credit.
Using Salesorder’s ‘Roles’ (access and permissions) Credit control rights can be enabled for specific users.

Payment terms

Users can preset algorithms for default payment terms on the Customer and Supplier master so as Sales and Purchase Documents inherit and apply these terms to Document balances.

Payment term thresholds can be used in automation to trigger sending reminders. Users can run a summary and drill down to detail reports to pinpoint, bookmark and immediately trigger reminders or credit or appropriate recovery processes.

Early payment discount automation

Early payment discounts can be configured to be automatically applied. When a user records a payment for an individual or batch of Sales Invoice(s), the system checks for a discount and automatically makes the appropriate adjustment(s). The adjustment is reflected in the general ledger.

Aging debtor management

As well as running reports to analyse and highlight aging debtors, you can generate and automate the production and emailing of customer statements, or present them in the Trade Acceleration Portal.

In our accounting software for wholesale and distribution, we’ve a ‘baked in’ email function which enables users to create email templates to standardize and send communications, and track responses.

With a single click you can email a PDF copy from every Document i.e. Invoice, Payment etc. We’ll work with you to automate the order and timing of reminders, and notifications to your team to match your businesses processes.

Automated Tax collection and reporting

Users can preset and report Tax code and Groups (combinations of Tax codes specific to locations i.e. State, County, City.) on Customers and their respective transactions.

For tax automation, the platform’s accounting software for wholesale and distribution has integration with Taxjar. Taxjar automates sales tax calculations, reporting, and filings. We are adding Avalara in Q3 2020.

Versatile period end close

Users can open and close Accounting periods with (or without) preset ‘open until’ periods for specific types of transaction i.e. Journals and Purchase Invoices to specific categories of accounts in the general ledger.

Controls to appropriately date transactions to ensure the integrity of the accounting operates in conjunction with the period’s presets.

Multi-currency

In our wholesale distribution accounting software users can:

  • set foreign exchange (FX) rates
  • trade with Customers and Suppliers in multiple currencies
  • track accounts receivable and payable balances per currency
  • track your balances and transactions in currency (FX) bank accounts
  • make currency adjustments for gains and losses resulting from currency exchange rate fluctuations
  • fix Item pricing and costs in foreign currencies
  • report on base vs fx on sales and purchase-related transactions

Salesorder’s accounting enables users to set up and track multiple currencies.

Our order management software’s sales and purchasing documents automatically display and record the international or foreign price or cost, specific trading currency, related exchange rate, correct tax code for each customer or supplier.

Foreign currency transactions and balances are shown in reports in both the local and trading currency (fx) values.

Users can perform Currency adjustments as and when required.

Payments and Banking integration

Our strategy is to help you ease or even eliminate the effort of managing and tracking incoming and outgoing payments.

We have a comprehensive portfolio of payments and banking integration solutions. For example:

  • integration with card payment gateways, i.e. Authorize.net, Paypal, USAePay etc.
  • integration with card and ACH payment processors, i.e. Cybersource, Paragon solutions etc.
  • secure FTP.
We’re working with thought leaders like HSBC and Bottomline Technologies to incorporate into our platform functions that accelerate and simplify banking transactions.

Reports: any structure or format, multiple tools

Because Salesorder is a transaction processing system in one database, every status, physical and financial value change, and their resulting balances is stored in one place and available to the reporting tools.

Users can configure and run reports to filter view and analyze the multiple dimensions and measures of accounting related data.

Salesorder gives accounting users a comprehensive set of customizable reports:

  • Profit and Loss
  • Balance Sheet
  • Statement of Cash Flows
  • Trial Balance
  • Cash Flow Forecast
  • Sales Forecast
  • Purchasing Forecast
  • Sales Tax Liability
  • 1099
  • VAT 100, EC Sales List, Intrastat
  • Aging Debtors and Creditors
There is a native reporting framework. Because your system has its own dedicated database, this can be augmented with market leading tools i.e. Tableau, Power BI, Jaspersoft Studio or OLAP applications.
 
We offer a comprehensive report design service. We’ll work with you to replicate or design reports.

Safe migration from old accounting software

We honestly know and understand the fears and risks of moving accounting data. However, hundreds of data migrations have taught us many lessons about how to do this in the most practical, painless, and safest way.

There are two dimensions to the migration :

  • reporting and the accessibility of the database where the historical data is stored.
  • open transactions in progress in the cut-over period.
We know the safest place for detailed data is the current system. In the majority of cases we see, it’s possible to bridge the databases of the old and new systems with overarching reports.
 

These reports are generated by simultaneously pulling the data from both systems either into an intermediary database or directly to the report itself.

The intermediary data warehouse is not difficult to create. Because its data is no longer constrained by the legacy application, it can be greatly simplified, easier to manage, and easily supplemented to increase its usefulness in reports.

Open transactions can be identified and categorized for import into our platform. We have a comprehensive method and toolkit to do this.
 
We always do a dry run, followed by an audit before undertaking the final transition.

One truth order management software for wholesalers

order management software joined up accounting

It’s not so obvious at the time of purchase deploying software from multiple vendors will definitely become a roadblock to your growth.

Growth is data-driven. You need one source of the truth to measure and track what you need to know. You can’t easily get this from multiple databases. It’s hard and confusing work nobody wants to do, not to mention the hours of the valuable time it wastes every day.

Our order management software for wholesalers is one unified system, in one database. No data duplication, just one application, we call this joined-up thinking. It maintains one source of the truth, gets everyone on the same page and makes your business smarter.

FAQs

Salesorder.com does not integrate with Quickbooks. Because this would mean two databases, this would result in data duplication. We think that’s a really bad idea. 

Salesorder.com does replace QuickBooks, however we do know some customers are running their accounts receivable and payable in Salesorder.com, and everything else in QuickBooks. It’s an interesting approach, but it has obvious risks, and means folks have to work in two systems.

While you are here. Here are a couple facts we hear time and time again from QuickBooks Enterprise users. They’ve come to us specifically because they have outgrown QuickBooks. 

  1. Allegedly there is a number of customers limit on the Quickbooks Database. This is a nuisance for Ecommerce store owners who want to track their customers.
  2. The Quickbooks company file has a long history of problems with integrity once it reaches 1GB in size.