Like any business, there’s a lot to track and manage, especially when it comes to accounting. For that reason, gas station management software is a must have for any new owner, or those who aren’t currently using it.
Proper Bookkeeping Matters
While many small business owners may employ an accountant, not all are able to afford that luxury. What’s more, many owners are not financial experts, meaning that proper accounting can often take a backseat to other aspects of the business such as sales, marketing, or staff management.
Accounting isn’t exactly the most exciting part of owning a business, however it’s a necessary component of every successful one. Even if you do employ an accountant come tax time, there’s more to know about your business’ financial health than just taxes. Everyone knows you must regularly record and report sales and taxes, however accounting software is designed for more than just that.
Among the many features and abilities that gas station management offers, you are able to:
View detailed P&L Reports for single or multi-store management
Know your exact sales by item, department, and vendor
Track income and expenses: know your margins
Manage jobber reports
Manage settlements, credit or debit, through your jobber or directly into your bank account every day
Know your pool margins
Compare sales over different periods of time: daily, monthly, weekly, yearly, etc
Strong accounting means a strong business. This is achieved through strong reporting. A clipboard and a pencil may have worked in the past, but with more products and more inventory to manage, the old way is quickly becoming obsolete.
Daily reporting helps to manage your cash flow and track sales and performance. The software pulls reports directly from your POS system and allows you to see exactly what you are selling, how much, and what your margins are. The same system works for your fuel management as it does for your in-store products such as coffee, snacks, or cigarettes.
All this results in gas station owners being able to proactively manage their store through monitoring sales, identifying trends, and managing inventory more efficiently than in times past. On the accounting side, you are able to manage your money more efficiently. In addition, detailed tracking and reports helps monitor and catch theft.
Try doing all of THAT with a pencil and a clipboard!
Run Your Business Like a Business
Accounting may not be the most glamorous side of any business, but it may be the most important. Proper accounting, including tracking and monitoring expenses, is a key way to take control of your business, especially in an industry where costs, and your margins, are subject to regular changes. An easy to use cloud-based management system will give you more access than ever before, and surely save headaches later on!
Want to learn how to improve your c-store accounting using CStorePro? today.