In the last decade, virtual shops have grown faster than nuclear fission. Discount offers, multiple payment options, replacement/refund policies, etc. have allowed the customers to trust e-commerce websites, even when they do not get to touch and see the product before purchase. Thus, the businesses (sellers) have gained tremendously with the e-commerce websites. They can sell their products all over the globe without even requiring an expensive shop or a team of salesmen.
But the growing fast has its own challenges. One of those challenges is keeping a track of the sales and managing accounts. And, the solution again comes from the ever-reliable business accounting solution – QuickBooks. QuickBooks, when hosted in the cloud, can automate and simplify a number of accounting requirements concerned with the e-commerce websites.
Here are some of the major benefits that your e-commerce business can gain by implementing QuickBooks hosting.
Automated Sync With Sales
Creating an online shopping portal will allow the convenience for customers and most of the portals can integrate with the payment gateway for the secure payments. This will pace up the business. On the other hand, manually updating will cause delays with the accounting operations. Or you can opt for QuickBooks hosting on cloud and automate the transaction updates.
Most of the leading e-commerce platforms, such as – Magento, Shopify, etc. are compatible with QuickBooks to offer a chronological display of all the transactions taking place with your business. With the prevailing benefits of cloud, like – anytime & anywhere access, you can process the accounting tasks with more freedom using hosted QuickBooks. And, it is not only about the sales as QuickBooks hosting will present you with all types of transactions, including refunds, chargebacks, pending payments and a lot more.
Compatible with Multiple Payment Options
Most accounting professionals know that QuickBooks can integrate with the bank accounts and credit card to keep the right track of financial transactions. With traditional sales, it resolves most of the issues. But, when it comes to the online sales, apart from the existing payment methods (cash, bank account, credit card, etc.) there are some more factors that come into play. PayPal, Google Wallet, etc. are some of the various online wallets that are commonly used. Good news is that QuickBooks is able to handle most of them.
Since the e-commerce website is expected to serve the customers all over the globe, the involvement of different currencies can also be expected. QuickBooks takes care of that as well. So, different currencies are not going to cause any delays with your accounting needs when you have got QuickBooks at your service.
Manage Shipping and Inventory From Any Location
One thing that almost every e-commerce business will agree with is the managing the shipping and the local inventory at the same time is never easy. E-commerce adds more pressure to it. Add-ons integrated with QuickBooks desktop can help with local needs. But with the businesses that have to ship products globally from inventories at various locations, the situation turns even more complex. This is where QuickBooks Hosting acts as a lifesaver. Its cloud-based operations allow the various users to collaborate and update the details instantly. With the real-time monitoring and control features, admin can keep a check on the user permissions as well to ensure the security.
In case you are using specific add-on with QuickBooks, the integration is better on hosted solution because of its independence of the local device, which allows on-demand resource increase with the hosted server. All in all, QuickBooks hosting makes up an effective solution for the professionals to manage accounting of e-commerce businesses.