5 Best Accounting Software for Small Retail Businesses

QuickBooks Desktop Enterprise Retail Edition has the most advanced inventory features among the software on our list. Some of the advanced inventory features you’ll find include barcode scanning, advanced pricing rules, lot and serial number tracking, and multilocation inventory management. It can also track sales taxes and provide ample integrations with ecommerce and POS systems. Furthermore, the Retail Edition provides customized reports for retailers, including sales by product/service summary, item price list, and sales by customer type reports.

Also, unlike QuickBooks Online, Enterprise allows you to set up and manage multiple companies under a single subscription without paying additional fees. That said, if you operate multiple retail stores or locations, Enterprise is worth a try.

On the downside, Enterprise can be expensive for smaller businesses. It can also be difficult to set up, particularly for those without an accounting background. If you purchase the multiuser desktop version, it must be installed on your local network, which can be complicated and may require the help of a professional IT staff. You may consider purchasing the hosted version to avoid complex installation or going with a cloud-based option like QuickBooks Online.

Standout features

• Inventory management: QuickBooks Desktop has more robust inventory tracking and costing features than QuickBooks Online. For example, you can create an inventory assembly to combine the cost of supplies, existing inventory, and labor into the cost of newly manufactured inventory. You can also make an adjustment easily to account for theft, loss, and shrinkage.
• Unlimited customer support: If you sign up for the Enterprise plan, you’ll receive access to the Priority Circle loyalty program, which includes a dedicated account team and free on-demand training.
• Sales tax tracking: You can track sales tax throughout the month automatically and define which products and customers are taxable. You also have access to sales tax liability reports so you know exactly what you owe at any given time.
• Customized reporting: QuickBooks Desktop gives you access to over 100 reports. It even allows you to create your own custom reports from any data set and consolidate reports for multiple companies. You can also schedule automatic reporting, including P&L statements and balance sheets.
• Unlimited companies: Unlike QuickBooks Online, the Desktop version gives access to an unlimited number of companies without paying an additional fee.