If you run a brick-and-mortar retail business and plan to expand your eCommerce operations, integrating your accounting software is a necessity. The rise of online shopping has made operating a physical store obsolete for many businesses. Retail stores are no longer just places where customers come to purchase goods; they have become marketing platforms for small businesses. Chances are, you already have an idea of the ways you plan to expand your eCommerce operations.
Whether it’s adding new products, upgrading the user experience on your website, or developing an app so that customers can order products from any device without leaving the shopping cart page, integration with third-party payment processors is crucial if you want to take your eCommerce business to the next level.
This article covers everything you need to know about QuickBooks eCommerce integrating with accounts in order to take advantage of their powerful capabilities when expanding your eCommerce operations. You will discover how easy it is and discover specific strategies that help you succeed with integration.
What is QuickBook eCommerce integration?
If you are starting to think about how you can integrate your eCommerce operations with your existing accounting software, you’re on the right track. There are a number of reasons why you should consider integrating your accounting system with eCommerce software. First, it can help you manage your business’s finances more efficiently. Second, it can help you keep track of sales tax and inventory status.
Most small business owners also find that having their accounting and eCommerce systems integrated makes it easier to work with their customers. By having one system that keeps track of sales and expenses, you can provide customers with more information about your products, save time, and boost customer satisfaction.
Differences between an eCommerce website and an eCommerce accounting
Before we go into how you can integrate your QuickBooks account with an eCommerce platform, it’s important to understand the differences between an eCommerce website and an eCommerce accounting. The two are closely linked, but they can also be used in completely different ways. The most important difference is that an online store typically only offers products for sale, while an accounting records the financial transactions between a business and its customers.
An eCommerce website is a website that allows customers to place orders online, view products, and track their orders. An eCommerce software, on the other hand, includes functionality such as order tracking, invoicing, payments, inventory management, and more.
Integrating your accounting software with payment processors
Integrating your accounting software with payment processors is essential for any business looking to expand their eCommerce operations. Every major eCommerce platform offers this integration, so it’s likely that your QuickBooks account is compatible with Stripe and Shopify’s payment processors. PayPal, Google Checkout, and a number of other payment processors allow small businesses to accept credit cards, debit cards, and other payment methods when a customer checks out from their eCommerce platform. This allows you to increase the amount of revenue that comes through each transaction.
Strategies for QuickBooks Integration Success
If you want to integrate your accounting software with eCommerce platforms, you will need to carefully evaluate the following when choosing a strategy for QuickBooks integration.
- Your business goals – One of the biggest mistakes businesses make when integrating their accounting software with an eCommerce platform is trying to integrate for the sake of it. If you already have a strategy in mind for expanding your eCommerce operations, then choosing a strategy that fits within that plan is likely to be more successful.
Your budget – Choosing the right strategy for your QuickBooks integration will depend on your budget. If you’re willing to make some sacrifices, you can find cheaper strategies that will still allow you to integrate with a payment processor.
Your timeline – The strategy you choose for QuickBooks integration will depend on your timeline. If you want to integrate now, but your budget is tight, you might want to choose a cheaper strategy that will still allow you to integrate with a payment processor.
Your QuickBooks strategy – The best strategy for QuickBooks integration also depends on how you want to integrate. If you want to create an eCommerce website, you will want to choose a strategy that supports this. If you want to create an app so that customers can view orders from any device, you will want to choose a strategy that supports this.
Your QuickBooks product – Choosing the right QuickBooks strategy will depend on your product. If you use an enterprise product, you likely have a subscription model. Choose the right strategy based on the length of your subscription and whether you want to keep paying for the product or cancel it.
Your QuickBooks user – Choosing the right strategy will also depend on the user who is currently managing their QuickBooks account. If it’s an executive, you might want to choose a more expensive strategy that they are likely to keep.
Properly configure your accounts – Setting up your accounts to use the right strategy will allow you to properly track inventory, manage payments, and track sales taxes.
Don’t just stick with one strategy – If you choose one QuickBooks integration strategy, don’t stick with it. Instead, choose a different strategy for each one and keep updating your strategy as you learn more about their uses.
ECommerce operations are changing the way that many businesses operate. Many companies are finding that opening an online store is no longer enough to succeed in the market. Instead, they are turning to digital marketing strategies, including eCommerce marketing, to help them expand their reach and generate more revenue.
If you want to take advantage of this trend, you will need to have QuickBooks Shopify Integration. Doing so will allow you to track sales, manage inventory, track taxes, and properly credit customers for payments. Now is a great time to integrate your QuickBooks account with an eCommerce platform. With so many different options available, it can be a challenge to figure out which one will work best for your business.