Ubikwiti has announced an accounting solution for online retailers. These and other cloud-based, on-demand accounting and financial management applications are excellent ways for online retailers to cost-effectively manage their businesses.
According to Ubikwiti CEO Tim Loving, "IDC's Top Ten Predictions for 2009 predict the move to cloud computing will accelerate in 2009, driven by the bad economy and shoppers seeking lower costs. IDC believes the global economic recession will push 1.5 billion people (almost a quarter of the planet) into online shopping, driving over $8 trillion in online sales."
Throughout the day I'll build out a list of similar providers that readers of this blog might be interested in. If you use a provider now or know of one you think others might be interested in, just comment below to share. The Ubikwiti solution allows merchants to perform many general/standard accounting tasks with ease;
- record aggregate online sales by sales category,
- review gross receipts, net receipts, commission and other charges paid,
- analyze gross sales, discounts, net sales and tax collected,
- record vendor bills and payments made to vendors,
- record deposits of checks and cash into your bank accounts,
- transfer funds between bank accounts,
- reconcile bank account statements with book records,
- prepare and view full financial reports and other standard reports in PDF format,
- set a base time zone for operations to ensure consistency of records and reports across multiple time zones
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