Update: This article was last updated on 22nd June 2020 to reflect the accuracy and up-to-date information on the page.
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 e-commerce websites. They can sell their products all over the globe without even requiring an expensive shop or a team of salesmen.
But this fast growth has its own challenges. One of those challenges is keeping 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 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 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 in accounting operations.
Or you can opt for QuickBooks hosting on cloud and automate the transaction updates.
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 on a single dashboard so that you can make an informed decision.
Compatible with Multiple Payment Options
Most accounting professionals know that QuickBooks can integrate with the bank accounts and credit cards to keep the right track of financial transactions.
With traditional sales, it resolves most of the issues. But, when it comes to 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.
The 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.
Moreover, in the case of QuickBooks hosting, most of the cloud hosting providers ensure high-performance computing (HPC) with SSD-based servers for a seamless workflow.
Manage Shipping and Inventory From Any Location
One thing that almost every e-commerce business will agree with is that 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 the hosted solution because of its independence of the local device, which allows on-demand resource increase with the hosted server.
Reduced Operational Cost
Every e-commerce business needs to invest in hardware and software infrastructures in order to execute its operations. On-premise e-commerce solutions involve massive upfront costs.
To decrease these costs, QuickBooks can be hosted on the cloud. It reduces the on-going costs like installation and maintenance of servers, upscaling storage, adding the number of users, and more.
Moreover, you can get pay-as-you-go pricing plans with most of the reliable QuickBooks hosting providers. It means that you only pay cloud vendors for the resources and services you use.
QuickBooks hosting also eliminates the need to hire an in-house IT team for the management of resources. Hence, it saves any cost of managing the additional team.
All in all, QuickBooks hosting makes up an effective solution for professionals to manage the accounting of e-commerce businesses. The flexibility and mobility benefits provide a competitive edge to its users in the market.
To know more about QuickBooks Hosting, contact our Solutions Consultant at 855-206-9882 today.
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