Helping retailers increase efficiency and profitability through technology




Industry Averages for your Business

Every entrepreneur would like to know how their business compares with others in the same industry.  This is why NAICS codes were developed.  NAICS (North America Industry Standard Classification System) classifies each business and assigns a code. For example, the NAICS code number 451120 represents “Hobby, Toy and Game Stores” and the NAICS code number 443144 represents “Computer and Software Stores”.




Is your Bookkeeping done correctly?

Today there are thousands of accounting systems on the market.  As a business person most of your time is devoted to your product/service and marketing of your product/service and I would guess that the bookkeeping is left to your spouse or an outside bookkeeper.  After more than 30 years in this arena I know that if you don’t understand what your bookkeeper is doing, you don’t know if they are doing it right.


Why Fixed POS Systems will always exist.

12 Reasons There Will Always Be A Market For Fixed POS

By Patrick Grueschow

Scouring the Internet you can easily find an overabundance of vendors making a case for the mobile POS system.  Some even cite that 36 percent of all POS (point of sale) systems will make way for the new technology.


Integrating POS & Accounting Software Systems

Hope everyone had a Merry Christmas and a Happy New Year. 

Now that it’s 2016 it seems that business people are re-evaluating their current situation and contemplating changes that might improve their efficiency (save time) and profitability (make more money).




Inventory Systems

There are basically 2 methods of recording inventory transactions, Periodic and Perpetual.  Let’s take a look at each method to determine which is more beneficial to the business owner.

To begin, we must understand how bookkeeping handles each method.  For our purposes, to make understanding easier, we will ignore sales tax.


Overview of Business and Retail Sales

I have always believed that a business is like a three legged stool with:

Operations (your product or service), Marketing (your current and potential customers) and Finance (your accounting and management information systems).

A weakness in any of the legs will cause the three legged stool to collapse.  You have the product or service that you believe your potential customers need and I’ll assume you have the marketing strategies necessary to promote your product or service.  My focus is on the third leg (Finance).


Welcome to RetailMagic's first blog.

My name is Barry Schieck.  I have been in the accounting and computer application fields since 1980 and have been focused on small to medium sized retailers since 1990.  Schieck Financial Software Inc. was formed in 1991 with a focus on point-of-sale and accounting software for small to medium sized retailers.  I am originally from Sarnia, Ontario and in 1980, in Calgary, I met a girl from Prince Edward Island.