E-commerce business is one of the most demanding business models in today’s time. Before you go to launch an e-commerce store online, you must know the nature of the E-commerce platform.
One of the most important aspects of an e-commerce business is keeping track of its finances.
No doubt, accounts management is not everyone’s cup of tea, and sometimes it can lead to a headache and burden for e-commerce owners.
There are many responsibilities in an e-commerce process, from tax calculation, inventory management to sales tracking. Also, you need to update all product availability on your e-commerce store 24 x 7 around the year. Therefore, this is not an easy task for any business owner.
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Why E-commerce Needs Bookkeeping?
Bookkeeping is one of the essential parts of any business. It acts as a tool for business owners to make managerial decisions in the organization. Bookkeeping plays a vital role in knowing the precise financial figures of any e-commerce business. It can help the business owners in managing their cash flows without any error.
However, you also need to consider the fact that manual bookkeeping takes a minimum time of 25 minutes for one entire transaction process. So, think, is it possible to manage the entire E-commerce activities by the manual method? Of course not!
That’s the reason why you need an advanced bookkeeping software solution to streamline your operations. The central part here is to choose the best bookkeeping software so that you can get maximum benefits in your business.
QuickBooks Can Manage Bookkeeping
There are many factors and challenges that every e-commerce business owner faces. But it can be resolved by just selecting the appropriate accounting software. You may be aware that every accounting software is not having the necessary features you need. So, you should always choose the best option while searching for the best software for your accounting needs.
QuickBooks is one software that has all features of accounting management. Did you know that QuickBooks helps manage the bookkeeping tasks of an e-commerce company? No doubt, QuickBooks is popular accounting software, but it is also useful in various other financial responsibilities, including bookkeeping.
Below are some benefits of QuickBooks for bookkeeping.
1. Platform Integrations
All versions of QuickBooks integrate with various third-party add-ons, which helps you sync data and automate processes like payments and invoicing.
2. Configuration of Sales Tax
E-commerce business makes sales tax very tricky and confusing. But when you choose advanced accounting QuickBooks software, it charges automatically and calculates the sale tax accurately, on time.
3. Time and Cost Saving
E-commerce enterprises can at least process thousands of orders in a month. Hence, it is not possible to handle the entire process for each transaction manually. If you are using QuickBooks accounting software, bookkeeping will be easy for you as it automates the billing and invoicing process. So, here you can save your time with cost-cutting.
There is a very high demand for accounting software globally, with over 2 million users selecting QuickBooks bookkeeping software. As the user of QuickBooks software, you will get the features of expense tracking, product management, dates, and reporting of your business.
- QuickBooks gives payment support, and it automatically syncs your payouts and charge of your company.
- QuickBooks gives you the entire figure of order details from each order you export from the E-commerce business platform, Including all inventory, items, stock, shipping, and axes too.
- QuickBooks bookkeeping automatically syncs all your import orders and refunds from your e-commerce into QuickBooks.
- Additionally, features are easy to use, connect all big accounts at a time.
QuickBooks Can Also Manage Invoicing
Invoicing can be a hassling task for any e-commerce business. However, it takes too much time to complete the whole invoicing process manually. But what if the same tasks are done in less time?
With the QuickBooks software, you can handle customer invoices without a fuss. You can create customized invoices, as well as edit them to suit your business requirements. Moreover, in the latest version QuickBooks – QuickBooks 2020, Intuit has introduced the feature of sending multiple customers invoices in a single email. This cuts down the time to send multiple emails to a customer.
You can also integrate all versions of QuickBooks with third-party add-ons that help you to scan physical invoices and store them efficiently.
The invoicing feature of QuickBooks is beneficial for all businesses, including e-commerce. It also helps in the proper financial management of your business.
QuickBooks is an all-in-one solution that streamlines all your accounting processes, bookkeeping being one of them. With QuickBooks, you can keep track of all your finances, and automate the transaction for error-free functioning. If you are a small business owner, you can definitely use this software and grow your business.