iRely

Inventory

AUTOMATE INVENTORY TRACKING

Summit provides the tools you need to quickly and easily manage your inventory. Prevent profit loss associated with excessive shrink and human error. Automate your inventory receiving and tracking with Summit. Scan in inventory at receipt and compare to quantities ordered to quickly identify missing, broken, or incorrect products. If your vendor does not supply shelf tags, Summit gives you the ability to print tags directly from the system. This ensures your customers see correct pricing in addition to facilitating the counting of physical inventory.

IMPROVE PHYSICAL INVENTORY COUNTS

Summit makes it easier than ever to conduct physical inventories! Conduct physical inventories at any time during the month, saving time at month-end by identifying and resolving problems sooner. Summit allows you to identify intentional and/or unintentional shrinkage quickly and objectively.

IMPROVE COST/PRICE TRACKING

Do you spend hours updating prices and making sure those prices are correct for volume or contract customers? Summit allows you to quickly and easily track, import, and change inventory costs and prices. Summit provides powerful in-system tools to quickly and easily update both price and cost changes across your organization. Because retail functions are built directly into Summit, you can take advantage of Summit’s ability to price based on volume, contract, and customer. This enables you to reward customer loyalty and commit business with discounts.

Do your vendors supply you with electronic price lists? Summit offers vendor interfaces for common agribusiness suppliers such as Orgil, Bostic, Do it Best and others. Additionally, Summit offers a generic price import that allows you to manipulate supplier price sheets and import them into your system. This data flows through the system allowing you to accurately account for inventory levels, sales, and profit margins.

Management Reporting

ANALYZE CUSTOMER & SALES DATA

Quickly analyze critical information such as top customers and products. Identify break-even points. Examine product sales and uncover which products are making you money and which products are simply collecting dust. Expose which products were sold in certain periods. Compare this data across other periods, analyzing trends, and key competitive analysis. Is a product no longer in demand? Are you losing a portion of your business to a competitor? Are you getting the margins you want from each unit? These questions and more can be answered within Summit.

TRACK INVENTORY

Summit tracks inventory you have on-hand, committed, and on-order, as well as, reorder points and minimum order quantities. This allows you to make more informed purchasing and merchandising decisions. Know with certainty where your inventory levels stand thanks to the ability to scan product while performing physical inventories. And, easily transfer inventory between retail locations and reallocate purchases for improved costing and auditing.

EASILY MANAGE STAFF

Summit offers integrated payroll and time entry. In Summit, full-time and seasonal employee hours are tracked and then sent to the home office for payroll processing. Summit Payroll helps you maintain employee payroll information, calculate taxes, handle voluntary deductions, and print payroll checks. Eliminate tedious manual payroll calculations and save time preparing taxes.

IMPROVE END OF DAY PROCEDURES

Summit creates labor savings from improved end-of-day procedures that reconcile your cash with external transactions, such as credit cards, coupons, and store deposits. This information then flows from store to home office, saving time and eliminating double-entry errors. When it comes time to printing all your deposits, you can run a Summit report listing all payments on account, other income transactions and cash sales received. The information listed will include the check or reference number, the customer’s name and the amount of payment. This report can then be used as your deposit slip for the bank. With Summit, your end of day processing prints audit report, updates files and creates G/L entries so you’re not duplicating these tasks in the back office.

One Solution

PATRONAGE

Summit Patronage is a key component to managing cooperatives. Save time when calculating refund checks and preparing IRS and other government documentation with Summit Patronage. Track sales volumes on which to base refunds as well as stock dividends.

GENERAL LEDGER

Summit General Ledger categorizes and summarizes your accounting data by both units and dollars, so you can easily review various expense or income categories. Compare these categories to budgets or prior periods for up to 5 years. This vital management information can be used to increase the profits of your business by allowing you to spot and reinforce income-generating areas, eliminate waste, locate areas which are over budget, and implement actions for correction. Drill down to the source transaction in Summit Agri-Business from Summit GL, eliminating time spent on researching transactions. Eliminate time-consuming month-end entries by allocating overhead costs to departments based upon percentages.

ACCOUNTS PAYABLE/BANK ACCOUNT

Summit AP/Bank Account imports electronic vendor invoices and inventory scans taken at the store. This saves you time, eliminates duplicate entry, and ensures you only pay for items you actually receive.

Summit also offers EFT/ACH, which allows you to save on checks and postage, and Positive Pay, which ensures that only the checks you write get cashed by the bank. Our recurring voucher entry screen allows you to eliminate manual entries on recurring invoices. Allocate expenses on the voucher level from an account template, so you don’t have to make time-consuming General Ledger entries. Reduce entry errors by matching invoices to purchase orders, so you only pay the appropriate amount.

Perform month-end bank reconciliations electronically to clear your checks and save time.

PAYROLL & TIME ENTRY

Summit Payroll helps you maintain employee payroll information, calculate taxes, handle voluntary deductions, and print payroll checks. Eliminate tedious manual payroll calculations and save time gathering and preparing quarterly and yearly tax information. Summit Time Entry allows you to track employee hours electronically. Hours are tracked and then sent to the home office for Payroll processing. Summit Time Entry also eliminates the need for a time clock and subsequent reentering of information at the home office.

ECOMMERCE

Give your customers the ability to access their accounts online 24/7. Improve customer service while reducing the time you spend on the phone. Summit eCommerce is secure, robust, and accessible through your website in real-time.