The benefits of Profit4's accounting ERP software
Trusted by 1,000's of UK users
React quickly & effectively
with up-to-date financial data
No need to wait for your Accountant's report
As a business owner or manager, it's crucial for you to be able to see how your business is performing financially, without the delay of waiting for a report from your accountant.
With Profit4's accounting ERP software you can access an up-to-date, real-time profit and loss sheet in just a few clicks. Plus you can create customisable dashboards, showing all your key financial information on one page.
This will enable you to quickly identify any cashflow issues and make better informed financial decisions, improving the overall profitability of your business.
Incomings & expenses automatically pulled in from all sales channels
Everyone in the business using one system
Profit4 is designed to be used by teams across your business.
Due to its wide range of integrations, Profit4 will incorporate your web sales, Amazon, eBay, trade counter, telephone sales data and more.
With Profit4's bespoke integrations, you will not need to add any clunky add-ons to your software which will slow down processes and decrease efficiency.
No costly or complicated
Save time & money
The disruption caused by having to manually close off the month-end is costly, labour-intensive and unnecessary.
With Profit4 there are no complicated month-end procedures, as the month-end is calendar based and retrospectively produced. Therefore you can go back and edit incomings and outgoings.
This gives you better control of your profitability and a more accurate view of your business's financial performance.
Accounting ERP software, designed with the user in mind
Improve cashflow with
automated credit control
A seamless process that reduces your bad debts
Profit4 will enable you to create workflows to automatically send payment-chasing emails (at preset intervals).
You can also include follow-up diary events in your workflow for your Credit Controller to call a customer at certain points.
Save hours of work
with automated bank feeds
Profit4’s bank feeds will seamlessly import and match payments and receipts within your bank account to outstanding invoices in Profit4.
Once matched, invoices will automatically update to “paid” and the appropriate postings will be made in your sales, purchase and nominal ledgers.
The process of manually reconciling transactions is sped up considerably and the risk of human error is significantly reduced.
supporting UK legislation changes
Responding to changes for you
Profit4's accounting ERP software is an ICAEW-accredited software solution (Institute of Chartered Accountants in England and Wales).
And with UK legislation changes, such as Making Tax Digital and GDPR, you'll find these automatically included within the support contract for Profit4. This is particularly beneficial, as the government is continuing to introduce new legislation.
Integrate with your website, couriers, trade counter & more!
Accounting ERP software functionality
Profit4’s ERP accounting software features real-time data so that you have an up-to-date picture of your business’ financial performance and can react quickly.
With its seamless integration, Profit4 will pull sales data from all your sales channels, including your trade counter, website, Amazon and eBay.
It also automatically calculates the impact of customer and supplier returns and reflects this in your financial reports.
Stock control sits at the heart of Profit4. In just a few clicks you can view your real-time stock levels at category and individual product level. There is also an unlimited number of product attributes available for you to search for and filter products by.
With its perpetual stock counts, Profit4 also ensures you never have to pause business to calculate your month end.
So that you can quickly identify dead stock Profit4 provides dead stock reports - where you’re provided with a list of product codes for stock that has a lower average usage rate.
Your stock valuation can be affected by a number of factors, such as cost adjustments. Profit4 makes stock valuation streamlined by automatically updating the value of moving stock.
Profit4 will automatically create shortage lists for those products that are low in stock. These shortage lists can then be reviewed and in just a couple of clicks converted into a purchase order.
You also have the option to automatically generate purchase orders for bestselling products, ensuring they are never out of stock.
The system will also raise and match a purchase invoice from a purchase order.
Profit4 enables you to setup automatically paying suppliers via bank-to-bank transfers.
Profit4 enables you to easily track spending against budgets.
You can also customise user access, so that purchase invoices can be created by one team member and then automatically sent to the purchasing manager or business owner to approve before being placed with the supplier.
Profit4 will automatically issue an invoice to customers following a purchase. You can also set up email reminders within the system to be sent to customers, subsequently accelerating your collection process.
Profit4 enables you to add currency codes so that you can easily record transactions in the currency relevant to a supplier or customer.
To take account of fluctuating exchange rates, Profit4 provides currency revaluation functionality. This enables you to ensure your nominal posting and bank account are accurately reflecting the latest exchange rates.
Profit4’s VAT dashboard helps you to easily prepare and submit your VAT return. Simply click Prepare Return, select the VAT Authority and VAT Obligation dates and click calculate to automatically generate. You can then expand values within the report and make any necessary adjustments.
You can then submit your Return to HMRC directly from the system, as well as printing out a copy for your records.
Access detailed financial information in real-time, with just a few clicks.
Profit4 will automatically pull in data from your purchasing and sales to generate profit and loss reports for any given period. Simply set the date range you’d like to view and click to display or print the data.
Profit4’s Nominal Account (also known as the General Ledger) dashboard will provide a record of all financial transactions within your business - including wages, VAT liability and creditors/debtors.
The Nominal Analytics dashboard will display values posted within the accounts based on filters which you have defined, this enables you to easily view just the items that you’re interested in.
The Nominal Audit keeps a record of any changes and shows the old and new values, as well the name of the Profit4 user who has made the change, alongside a date and time stamp.
The Nominal Year End dashboard will ensure that all ledgers reconcile, necessary adjustments have been made and that the required reports have been run.
The Nominal Year End will also let you define how you’d like the system to set the budgets for the new year.
Profit4 will seamlessly connect to your bank accounts via its integrated Bank Feeds.
You can also ensure that the system and your bank accounts are in sync by running Bank Reconciliation reports – this will ensure that transactions taking place within your bank account are mirrored in Profit4 – so that its financial reports include all costs and provide a highly accurate view of your financial performance.
Profit4 enables authorised users to create workflows that automatically trigger payment-chasing emails (at preset intervals) or create follow-up diary events for your Credit Controller to call a customer. You can opt individual customers out of automated credit control with a simple checkbox.
Profit4 is a scalable system, which makes it a suitable option for smaller businesses and ensures it continues to meet your needs as you grow.
Profit4 is a modern, easy-to-use cloud-based ERP system. This means that it can be accessed via your internet browser from any location – enabling Directors and accounts teams to easily work from home.
Watch an online demo today!
Frequently asked questions
Profit4 is a scalable, affordable system - making it suitable for businesses of all sizes. You will only pay for the number of users you require and because it’s a cloud-based ERP it’s easier and less expensive for small businesses to get started with than more traditional hardware-based software.
Because Profit4 enables you to easily view your top-level financial data, it also makes it ideal for business owners who don’t have a large accounts team to keep a close eye on financial performance and quickly recognise any cashflow issues.
Because Profit4 is an ERP, it is designed to manage all areas of your business. And is designed specifically to meet the needs of UK stockists, wholesalers and distributors.
So, rather than stock control, order processing and warehouse management being bolt-ons to your accounting software, they sit at the heart of Profit4, ensuring the system is fully integrated, while remaining ultra-fast and easy to navigate.
ERP or Enterprise Resource Planning software is software than manages your entire business, including your financial/accounting processes, order processing, supply chain management and stock control.
ERP software will connect all areas of your business.
Traditional accounting software, such as Sage or Xero, will manage your accounting and financial processes.
Whereas ERP software will manage and connect all areas of your business such as stock control, order processing and accounting.
Profit4’s automated bank feeds can connect to the following UK bank accounts: Barclays, Halifax Online, HSBC, Lloyds, NatWest Bank, Royal Bank of Scotland and TSB.
Profit4 uses global leader Envestnet | Yodlee to facilitate our automated bank feeds. The bank feeds will only download transactional data from your bank account, there is no option to create or make payments from your bank account.