11 Apr Never Enter Data Twice with QuickBooks Online & Shopify
Why enter the same data twice? With QuickBooks Online and Shopify, you don’t have to! This blog will tell you everything you need to know about the integration of these two platforms and the endless benefits for your business.
For starters, it is no surprise that Shopify is a leading commerce platform. Their all-in-one approach to start, run and grow businesses has attracted millions of entrepreneurs resulting in 10% of total US ecommerce.
Shopify & QuickBooks Integration
Shopify has taken it a step further to save users time through their integration with QuickBooks. Through the commerce connector, seamlessly connect your Shopify with QuickBooks Online so that nothing falls through the cracks.
The connector allows you to automatically see your orders and pay outs from Shopify in QuickBooks and gives you a better view of your income and expenses, all in one place.
How it Works
Set up is fast and easy, and all your Shopify data will go directly into QuickBooks.
From there, QuickBooks separates your revenue from taxes and fees and seamlessly maps it to the right accounts. QuickBooks shows trends at a glance, including revenue, orders and top selling products. It allows you to stay on top of cash flow, run accurate reports, get insight into your revenue, expenses and profitability, see transactions organized throughout your balance sheet, ensure books are up to date, and match transactions to bank deposits.
See? Endless benefits!
Identifying Your Goal
Now something to ask yourself – do you want to bring in summary information from Shopify to QuickBooks Online or do you want full inventory tracking?
There are different solutions depending on your answer.
If inventory tracking is not needed, we have solutions to pull down summary information daily from Shopify to bring in sales and fees.
If detailed information by customer and product is needed, QuickBooks can also pull that information down as paid invoices or sales receipts so that more detailed reports can be generated. Products sold can be setup as non-inventory in QuickBooks Online, too.
If inventory tracking is needed, QuickBooks has solutions that synchronize inventory between the two products and if needed, more robust and advanced inventory features can be added that focus on assemblies, purchase orders, vendor management, serial or lot number tracking, and more.
For the Brick and Mortars
For those who have a brick-and-mortar location, you can add Shopify POS that use the same data as the Shopify website integrating with QuickBooks Online. This allows you to be on the same platform and all data is synchronized between the systems.
Tools to Integrate
Depending on your needs, we have the tools to integrate the systems, so you never have to enter data twice! Tools such as Bookkeep, Webgility, Cin7, SOS Inventory, QBO’s Shopify connector, WeIntegrate, A2X and much more can be utilized to streamline your processes.
Let’s Get Started
Whether you are ready to integrate your Shopify with QuickBooks Online, or want to learn more about QuickBooks in general, reach out to our team at Siegel Solutions today! We’re here for you every step of the way.
For more information, click here to get started with QuickBooks Online today or contact us directly at 781-512-7822!