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24 Jun Maximizing Your Retail Business with QuickBooks: Essential Tools for Online and Ecommerce Success

Posted at 18:06h in Blog by

By Jeff Siegel

Running a retail business, whether brick-and-mortar, online, or a combination of both, requires streamlined operations and efficient financial management. QuickBooks, a leading accounting software, offers a variety of tools and integrations that can help retail establishments manage their finances seamlessly. Here’s a look at some essential tools you can use with QuickBooks to optimize your retail business operations.

  1. Retail Features in QuickBooks

QuickBooks offers several built-in features tailored for retail businesses, enhancing your ability to manage various aspects of your operations effectively:

  • Locations: Track sales and expenses by different store locations, allowing you to see which locations are performing best and identify areas for improvement.
  • Classes: Use classes to categorize transactions by different segments of your business, such as departments, product lines, or service types. This helps in generating detailed reports and understanding profitability across various aspects of your operations.
  • Tags: Tags are customizable labels that you can assign to transactions for more detailed tracking. Whether you want to tag transactions by campaign, event, or any other category, tags provide an additional layer of data organization and analysis.

 

  1. Reporting and Analytics

QuickBooks offers robust reporting tools to help you understand your business’s financial health. Additionally, you can integrate with third-party analytics tools for more advanced reporting:

  • Fathom: Provides deep financial analysis and performance reporting.
  • Qvinci: Offers financial consolidation and benchmarking tools for multi-location businesses.
  • Spotlight Reporting: Delivers comprehensive reports, dashboards, and forecasts.
  • Reach Reporting: Enhances your reporting capabilities with customizable dashboards, detailed analytics, and real-time data integration for insightful financial decision-making.

 

  1. Shopify POS

Shopify POS integrates seamlessly with QuickBooks, providing a comprehensive solution for managing both online and in-store sales. With Shopify POS, you can:

  • Process sales quickly and efficiently
  • Track inventory in real-time across multiple locations
  • Manage customer data and loyalty programs
  • Integrate sales data directly into QuickBooks for seamless accounting

 

  1. Lightspeed POS

Lightspeed POS is another powerful tool for retail businesses, offering robust features for inventory and customer management. Benefits of using Lightspeed POS include:

  • Multi-store management capabilities
  • Detailed reporting and analytics
  • Integration with ecommerce platforms for unified inventory tracking
  • Direct sync with QuickBooks for accurate financial records

 

  1. QuickBooks Commerce (formerly TradeGecko)

For businesses that operate online, QuickBooks Commerce offers robust inventory and order management capabilities. Key features include:

  • Multi-channel inventory management across platforms like Shopify, WooCommerce, and Amazon
  • Order management to handle sales from different channels in one place
  • Detailed sales and inventory reports for better decision-making
  • Integration with QuickBooks Online for streamlined financial tracking

 

  1. Ecommerce Integrations

QuickBooks integrates with various ecommerce platforms to ensure smooth data flow between your online store and accounting software. Popular integrations include:

  • Shopify: Automatically sync orders, refunds, and fees with QuickBooks Online, helping you keep your financials up to date.
  • QuickBooks Online for Shopify: A specialized integration that offers advanced features for managing your Shopify store’s financials directly in QuickBooks Online.
  • WooCommerce: Connect your WooCommerce store with QuickBooks to manage sales data and inventory without manual data entry.
  • BigCommerce: Sync orders, customers, and inventory between BigCommerce and QuickBooks for accurate financial tracking.

 

  1. Payment Processing Solutions

QuickBooks Payments allows you to accept payments directly through QuickBooks, making it easier to manage cash flow and reduce the time spent on reconciling accounts. Benefits include:

  • Accepting credit card, debit card, and ACH payments.
  • Instant deposit options to get funds faster.
  • Seamless integration with QuickBooks for easy tracking of payments and fees.

 

  1. Inventory Management Apps

For more advanced inventory management, several third-party apps integrate with QuickBooks to provide enhanced capabilities. Some popular options are:

  • SOS Inventory: Offers advanced inventory, order management, and manufacturing features.
  • Fishbowl Inventory: Suitable for larger businesses needing robust inventory management and manufacturing solutions.
  • Cin7: An inventory management system that integrates with various sales channels and QuickBooks for comprehensive inventory control.
  • Katana: A manufacturing ERP that integrates with QuickBooks to provide real-time inventory and production management, ideal for businesses needing to coordinate manufacturing and inventory processes.

 

  1. Customer Relationship Management (CRM)

Maintaining strong customer relationships is crucial for retail success. CRM tools that integrate with QuickBooks can help manage customer data, track sales interactions, and improve customer service. Some notable CRM integrations are:

  • Salesforce: Sync customer data and financials between Salesforce and QuickBooks for a 360-degree view of your business.
  • Zoho CRM: Connects with QuickBooks to manage customer data, sales, and support in one place.
  • HubSpot: Integrates with QuickBooks to streamline marketing, sales, and customer service efforts.
  • Results CRM: Integrates with QuickBooks to manage sales, marketing, customer service, and project management, providing a comprehensive solution for improving customer relationships and business efficiency.

 

Things to Consider

When choosing ecommerce integrations and tools for QuickBooks, consider the following:

  • Order Download Level: Does your ecommerce add-on download orders into QuickBooks at the summary level or the products and services level? The latter is essential for tracking inventory accurately.
  • Data Sync Frequency: How frequently does the integration sync data between your ecommerce platform and QuickBooks?
  • Customization: Does the tool allow for customization to fit your specific business needs?
  • Multi-Channel Capabilities: Ensure the integration supports multi-channel operations, including POS systems, multiple websites, marketplaces, and direct sales out of QuickBooks. This is crucial for managing a unified inventory and sales strategy across all platforms.
  • Payroll Allocation: Does the payroll solution allow for breaking out payroll under the appropriate class or location? This is important for accurate financial reporting and budgeting.
  • Payment Solutions: Choose a payment solution that integrates seamlessly with QuickBooks, allowing for easy reconciliation. Ensure that fees and other charges are not netted against the sales amounts to maintain clear and accurate financial records.

 

Leveraging these tools and integrations with QuickBooks can transform how you manage your retail business, both online and in-store. By automating processes, improving accuracy, and providing real-time insights, you can focus more on growing your business and delivering excellent customer experiences. Explore these tools to see how they can fit into your business strategy and take your retail operations to the next level.

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Kimberly Mitchell
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Kim is a Partner Development Manager with 10 years of experience working with Strategic Partners. As a 19-year veteran with Intuit and a history of driving growth and sales results within the QuickBooks echo system Kim, brings a wealth of knowledge to our team by assisting us with sales and marketing initiatives while helping us strive for the highest net promoter (clients satisfaction) scores. Kim is passionate about creating and nurturing new partnership opportunities through the relationships she has built over the past 25 years of sales experience.

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Noah is our dedicated Intuit Senior Account Payroll Manager who can help you find the right payroll solution for you and your business. He is well versed in all of the QuickBooks platforms being desktop/online/standalone and payroll has been his world since joining Intuit 13 years ago. Whether you are looking for ways to save on time, reduce inflated payroll costs or just get set up with the best discounts, he is here to help. Your success and satisfaction are of utmost importance!

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Sean McCaffery has more than 15 years of experience leading channel sales and cloud solutions in the US and Internationally. Sean has held leadership positions with Avaya in Europe growing the channel business with resellers and distributors in key countries driving double-digit growth. He then joined Rackspace Technology and was instrumental in developing sales growth strategies in cloud adoption for customers and partners. Most recently, he ran channels at Dizzion responsible for dynamically growing and expanding the partner ecosystem through SaaS-based VDI solutions before joining Intuit. Currently, he runs the QuickBooks Solution Provider Program supporting the strong business that solution providers and ISV partners have established as well as finding new opportunities to drive emerging mid-market growth together!

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Gabor Terebesi
Payments Account Manager

 

Gabor Terebesi is an Account Manager with the Payments Team of Intuit for over 15 years. He works in the partner division for Intuit payments to ensure Intuit partners along with any clients of theirs are in the most suitable and financially cost-effective solution accepting payments through eCommerce, QuickBooks, mobile payments, or any other options necessary for their business.

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Aimee Garneau
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Aimee joined Siegel in 2022 as the Accounting Manager overseeing the accounting and bookkeeping team. Aimee brings 18 years of experience with increased responsibility with privately and publicly held companies. Her experience lies with SaaS-based companies as well as in healthcare, consulting, education and nonprofits. Prior to joining Siegel, she held accounting leadership positions with Waban Projects, Elastic Path, Moltin, and Ned Davis Research. Aimee loves partnering with business owners to establish financial reporting and results that promote growth and expansion. When Aimee is not working, she loves spending time with her family and friends and exploring all New England has to offer. She is also an avid Red Sox fan and enjoys going to Fenway Park when she can.

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Jeffrey Siegel
CPA, CEO

Jeff has spent the last twenty years working providing solutions to emerging growth businesses. After graduating from Northeastern University, he spent five years working with two multinational CPA firms in an auditor capacity building a foundation for understanding how business work. He later went on to work in various controller and CFO roles before starting Siegel & Associates (previously Siegel Financial Group) in 2000. In those roles, he sold a company to ADP, raised funds for a major expansion of a large regional IVF clinic, and helped set up accounting and financial structures for dozens of companies. Since starting Siegel & Associates, Jeff has worked with hundreds of clients providing accounting system solutions. Those solutions include setting up QuickBooks in a single-user environment putting in QuickBooks Enterprise in a 30-user environment and integrating various add-ons including inventory, CRM, and e-commerce. He is a Certified Public Accountant, a QuickBooks Pro Advisor, a QuickBooks Advanced Pro Advisor, and an Intuit Solution Provider certified in Enterprise Solutions, Point of Sale & QuickBase. Jeff is also a Microsoft Certified Systems Engineer

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Lori Swartz
Client Support Manager

After graduating from Boston University, Lori spent eight years working in various managerial positions for two national companies. In those positions, Lori developed the skills necessary to manage multiple projects, clients, and resources. She later went on to work for a management company that handled over 25 real estate properties with multiple tenants. Lori joined Siegel Solutions in 2003 as a client services manager where she utilized her skills developed to manage multiple clients and multiple staff. She recently moved into the client support manager role where she is responsible for meeting with and onboarding new clients, managing and maintaining our technology stack along with QuickBooks setups, conversions, training, and consulting.

In her free time, Lori enjoys spending time with her family. She loves to travel, music, and theater.

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Associate

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Outside of work, Kristin enjoys hanging out with family, friends, and the family’s black lab named Clyde. Kristin is a New England Revolution fan and goes to as many games as possible each season.

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Senior Associate

Kathy graduated from Framingham State College. She then attended Bently College in their Accounting Certificate program, while also working as an Assistant Payroll Supervisor and Compensation Specialist in the corporate offices of a large contract employer. After many years of experience as a Full Charge Bookkeeper for a private investment firm, and various small CPA firms, Kathy joined Siegel Solutions in 2001. She enjoys learning about different types of businesses working for Siegel and the satisfaction of tailoring our role to best serve each client's needs.

During her free time, Kathy loves spending time with her family and her dog. She also enjoys DIY projects and exploring the beautiful New England coast.

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Janet Jodoin
Bookkeeping Associate

Janet joined Siegel Solutions in May of 2022 as an Associate Bookkeeper. In her younger years, while raising her family, she completed her degree in Business and she spent 20 years in the trades as a custom designer. Janet also has 16 years in corporate management. Her strong team support, training, and development led her to support and manage Human Resources. Janet's desire to change careers has led her to return back to bookkeeping at Siegel Solutions. In Janet's free time she enjoys spending time with her growing family. Her personal favorite is creative landscaping in her yard. She also enjoys working alongside her partner in construction and remodeling.

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Tricia Gullage
Associate

Tricia Joined Siegel Solutions in 2022 as a bookkeeper and works with our clients to keep their day-to-day bookkeeping in order. Tricia has 12 years of bookkeeping experience working for a large construction company for 10 of those years handling all their accounting and Payroll. She met Jeff our CEO while working there and decided she wanted to join our team.

When not working Tricia enjoys spending time with her family and friends. She recently moved up to the lakes region in NH and loves going to concerts, enjoying her time boating and snowmobiling.

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Ed Jaworski
Professional Services Manager

With over 21 years of corporate experience at PeopleSoft Consulting, Sun Life Financial, and KPMG, Ed brings a big business approach to small business solutions. Prior to joining Siegel Solutions in 2022, Ed helped small businesses get the most out of QuickBooks for 21 years as a co-founder of SMB Partners and the founder of Solutions for Office Software.

Ed is an Advanced Certified QuickBooks® ProAdvisor, a Certified QuickBooks® Point of Sale ProAdvisor, a Certified QuickBooks Enterprise Solutions ProAdvisor, and a Certified SOS Inventory Consultant. Ed holds an MS in Computer Information Systems from Bentley University and a BS in Business Administration from Northeastern University.

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Debby Mono
Firm Administrator

Prior to joining Siegel Solutions in March 2023, Debby had been working in administrative and executive assistant roles for many years in various fields. Her extensive background in these positions has provided her with a range of skills and knowledge that are valuable in her new role as a Virtual Administrative Assistant. She graduated from Suffolk University with a Bachelor's Degree.

Outside of work, Debby can be found at football fields or dojos cheering for her sons. She also enjoys hikes with her dog, Sawyer, reading, sports, and live music. She and her husband also love to entertain family and friends.

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Senior Associate

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Senior Associate

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When Ashley is not working, she loves spending time with her husband and 2 kids, extended family, and friends and watching her Boston Sports Teams!

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Alison Pickwick
Associate

Alison joined Siegel in 2023 as an Associate. She enjoys producing a product that assists company owners in seeing the big picture of their company. Previously, she put this passion to use as an auditor and as a financial advisor traveling the country to various companies in many different industries. With her passion, she also brings years of experience and vast knowledge to Seigel. After hours Alison doesn't stop working. She gardens, has chickens, teaches her godkids carpentry and small engine mechanics, fishes, makes maple syrup, and even brews her own wines and beers. Whenever she can, she goes to her family camp in northern New Hampshire where you can find her working on a project from planting blueberries to building a shed.

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Andrea Alencar
Associate

Andrea graduated from Bridgewater State with a Bachelor's degree in Accounting. Andrea joined Siegel Solutions in 2022. Andrea has gained accounting experience working in various industries including a CPA firm, legal, hospitality, and telecommunications. Before coming to Siegel Solutions Andrea previously worked as a bookkeeper and staff accountant.

Andrea has 4 kids which keep her busy. Outside of work, Andrea enjoys spending time with her kids, being outside, cooking, and going to softball/baseball games.

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Mike Derrico
IT

I started my career in 1983 when I designed and built a device to share a computer program, written by the president of a local bank and his son, running on an Apple Lisa computer. The device allowed the large and expensive Lisa's computer to be shared with bank employees. With this program, and with my device, we started a company to market this unique solution to banks. At this point, computer networks were just starting to be used in businesses. I transitioned my efforts to providing support for migrating banking terminal/mainframe functions to the emerging Personal Computer networking platform. For the next decade, I worked with, and beta tested, numerous technologies to integrate the banking functions from dumb terminals into the now smart desktop computers. After working with a few small consulting firms, I started my own company focusing on providing I.T. support to SMBs. More recently I am now doing the exact opposite by helping customers migrate their PC applications and data from their local computers to The Cloud. A few years ago, I joined Siegel Solutions to add my years of I.T. experience to their firm.

In my spare time, I like to travel, fly my drone and, most importantly, spend time with my family. I also still enjoy tinkering with technology.

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Pat Jaworski
Associate

After spending most of her corporate career in the insurance industry, Pat joined a QuickBooks consulting firm providing bookkeeping services to several small companies. Late in 2022, that firm merged with Siegel Solutions, Inc., bringing Pat and her clients to the group. She provides services to clients in a variety of industries: fitness, construction, beauty, equine care, and medical billing, to name a few. She enjoys supporting her clients by keeping their financial records in good shape and allowing them to focus on growing their respective businesses.

Pat resides in the 495/MetroWest area with her husband Ed, daughter Abby and Duffy, their lovable, energetic golden retriever.

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Noah Tan

Associate

Noah has over 12 years of experience in accounting and graduated from the University of Bedfordshire in the UK. Prior to joining Siegel Solutions in August 2023, he has worked with clients in Asia and Europe across a variety of industries, including manufacturing, software, e-commerce, and education. Noah specializes in real estate, property management, and construction enterprises.

Noah is a passionate and results-oriented individual with a proven track record of success. He is skilled in financial planning and analysis, budgeting, forecasting, and reporting with expertise in business process improvement and risk management. Noah is committed to helping his clients achieve their financial goals.

Noah loves to travel and has been to over 50 countries and 4 continents with his wife. He is passionate about financial market analysis and enjoys using stock charts to identify trends and patterns.

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Tari Crowley

Administrative Assistant

Tari Crowley joined Siegel Solutions in September 2023 as a part-time Administrative Assistant. She actually wears many hats not just in her position, but in her every day life! She is also a real estate agent, softball coach, wife and full-time mother. When she isn’t busy with everyday life activities, she enjoys spending time with her chocolate lab, Bailey, as well as having fun and laughing with her family.

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Sales and Marketing Associate

DeeAnna Keyes, has been our Sales and Marketing Associate since December 2023. She brings a wealth of experience, having worked at Intuit with a focus on Quickbooks Online and Quickbooks Desktop. With a robust sales history and a license as a real estate agent in Virginia, DeeAnna is a versatile professional. Outside of work, she cherishes family moments, indulges in camping with friends, and finds joy in entertaining at home with her husband and four children.

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Janice Kats

Associate

Janice Kats graduated from Carl Sandburg College with an Associate Degree in Accounting in 1992 and has been working in the accounting field ever since in various jobs doing AR, AP, payroll, office management, and bookkeeping before joining Siegel Solutions in late 2023.

In 2022, she made the decision to branch out on her own and started her own bookkeeping business, working from home.

She is a mom to 3 grown children and a grandmother to 5 grandchildren and enjoys spending time with her husband and two dogs and following her grandchildren in all of their sports.

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Roger Hand

Relationship Manager

Roger boasts over 15 years of experience at Intuit, during which he has aided clients and QuickBooks® Solution Providers in building and growing their businesses. He is well versed in the QuickBooks® products and, through the discovery process, knows how we can engage, migrate, and satisfy clients' current frustrations. Roger holds multiple credentials and licenses, including the QuickBooks® Pro Advisor certification. He enjoys working with clients and seeing the satisfaction on their faces when they're achieving their goals without all the confusion! Roger enjoys spending his free time with his wife and two amazing daughters

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Kristina Morin
Senior Associate

Kristina Morin is a Certified Public Accountant from Boston, Massachusetts. She holds an MBA in Management Information Systems from Bentley University and an MS in Accounting and Financial Management from DeVry University. She has been a bookkeeper for 20 years and has spent the last several years teaching QuickBooks and Bookkeeping.

At home, she celebrates her independence, living with her son, father, and two cats, Romeo and Rico. Kristina enjoys old-school hip hop, soaking up the sunshine, and spending quality time watching movies with her family.

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