No online store can succeed without a real understanding and full awareness of its accounting matters.
Marketing, sales, and inventory management are no doubt key factors in managing an online store intelligently.
But the overcrowding of the electronic commerce market is certainly a threat that is looming.
According to recent statistics, Saudi Arabia has ranked ninth as the country with the largest growth in electronic commerce in Asia.
This indicates that it is imperative that financial matters be carefully regulated to compete vigorously.
In this article, we will provide you with the outline you need to do so. Let’s get started
What is the Qoyod system? What is its relationship to the online store?
There is no need for downloading since it is accessible. It’s a cloud accounting system that can be accessed anytime, anywhere, as long as your device is connected to the Internet.
Qoyod works to increase the sustainability of electronic stores and reduce risk through a range of practical accounting solutions that help the merchant manage his online store with high professionalism in its two basic aspects: accounting and inventory management.
You can try Qoyod for free for 14 days to judge its effectiveness for yourself. Try it now.
What are online stores?
Online stores; or, if you like, for the sake of definition, say the online store is a website that sells goods to consumers.
These stores vary in their business models; some sell to the final consumer, and others sell to wholesalers.
But what is certain is that it uses the Internet as its headquarters to sell its goods.
The Saudi Arabian market has witnessed a huge boom in e-commerce, especially after the COVID-19 pandemic.
The simplest trader is required to be online, or else he will not be able to maximize his profits.
Online stores have risen in importance, although they existed in large numbers previously but were not the preferred destination of users because of piracy problems and mistrust.
The top 10 advantages of Qoyod help you run your store smartly.
We start at Qoyod on the principles of facilitation and risk reduction; we’re an enterprise that broke into a difficult field.
And we have been able to succeed in the field of cloud computing, and one of our most important customers who serves at Qoyod is you, as a trader.
Here are 10 advantages that you will only find in the Qoyod program:
1-Cost Center: One of its most important roles is to help you understand the performance of your online store, as it enables you to make an accurate comparison of sales performance and costs to find out where you are in relation to your organizational and strategic objectives.
2-Mailing system: With the push of a button, you can send an elegant invoice designed according to the identity of your online store brand to give a kind of professionalism and credibility, and this makes it easier for you to follow up and send invoices, whether to consumers or suppliers.
3-Attachments: This feature saves you the hassle of printing important documents, such as bank transfers, sales invoices, etc., as you will be able to save and store them electronically to access them whenever you need them.
4-User powers: This advantage gives you the ability to determine the access of each employee to the tasks that they mean at Qoyod, so that there is no overlapping of tasks and powers in order to control the course of work.
Payment Management: This feature provides the ability to pay invoices either partially or completely, whether they are receipt vouchers or dated separate payments.
It’s easy to choose the type of account you’ve been paid from.
- Register of Activities: This provides you with detailed information on the course of activity of the employees in the enterprise.
And the exact type of activity—is it an adjustment to the bill? Or pay it off? And a lot of other details that matter to you.
7-API Linkage: This feature provides accurate synchronicity of your facility’s data in the Qoyod program.
It also enables you to build an accounting department for your online store. The data is automatically updated and can be accessed at any time.
8: Hire an accountant: As the income and profits of your online store grow, you will start to expand, and this strongly requires you to hire a professional accountant to take care of your financial matters.
There is difficulty in finding the most appropriate accountant, and through this service, you will be constrained by financial and accounting services offices to find what you want.
9-Points Of Sale (POS): This feature will provide you with a tremendous ability to synchronize sales with Qoyod, making your daily accounts synchronize with the system effortlessly as it is conducted automatically.
It helps follow the facility from anywhere and uses any computer, mobile phone, or tablet.
It also has easy use and quick billing at exhibitions, and it works with invoice printers and cashiers.
10-Warehouse management: You will no longer suffer from any technical errors in the inventory process, as you will be able to identify, add, and control your stores, facilitate the process of transferring their products from one inventory to another, and provide comprehensive reports on everything in stock to be aware of your order.
Accounting is the backbone of any electronic store, especially for smart stores that want to work smartly to double their sales and confront competitors, and your investment in cloud accounting
Like Qoyod would greatly facilitate the financial process.