Managing small tasks such as overseeing inventory and sales precisely as an online seller can be challenging. Professional bookkeeping services offer an ideal solution to these problems. Over 53% of Gen Z small businesses believe it has brought faster growth in their business. With QuickBooks online ecommerce, businesses can set up their accounts so everything is seamlessly integrated with their platform.

QuickBooks enables you to manage inventory while tracking orders within the system. In this article, we’ll explore ways you can use QuickBooks to streamline your processes and grow your e-commerce business. Let’s dig in:

 

Optimizing Sales in Different Channels 

E-commerce businesses sell products on different platforms, such as Shopify and Amazon. Managing inventory and sales through these channels can be challenging and lead to various risks, such as issues in fulfilling orders and differences in stock. QuickBooks helps seamlessly integrate multiple e-commerce platforms. This way, you can prevent overselling products, manage orders easily, and know accurate inventory levels.

Companies selling different products usually struggle with inventory management. Items might go out of stock, or there might be excessive inventory of less popular products. By resolving understocking and overstocking issues, businesses can reduce inventory costs by 10%.  QuickBooks allows you to track your supply through locations and even categories. It also has an automated reordering feature that ensures popular products are always in stock. The comprehensive reports also help users learn ways to reduce excessive inventory.

If you’re an online seller who manually enters data from different platforms into your accounting software, you’re wasting time and increasing the chances of errors. With QuickBooks Bookkeeping Service, sellers can automate the data transfer through a direct connection. This ensures all customer, sales, and inventory information is synced automatically. This helps reduce manual effort, improve the accuracy of your e-commerce business’s data, and help it grow.

Different brands have different policies. For instance, a business wants to offer discounts on bulk purchasing but is having difficulty applying these reductions. That’s when QuickBooks comes into the picture. It enables business owners and Shopify sellers to create different pricing policies. This way, they can apply discounts on bulk goods and add customer specific and promotional prices. This enhances customer satisfaction and makes the sales process smooth.

Online sellers sometimes need help obtaining in-depth nancial performance, making it challenging to market the right products, make decisions regarding product lines, and manage operations. However, that ends with QuickBooks online e-commerce, which offers online sellers comprehensive financial reporting and analysis tools. You can now manage expenses, learn about profits, and see cash flows and sales trends. These reports are quite helpful in streamlining operations and learning about pro table product categories.

Shopify sellers who have set up a multi-state e-commerce business may need help with bookkeeping services and managing taxes to match compliances. Having access to QuickBooks online e-commerce allows them to automate their sales tax calculations based on where the customer is located and comply with the sales tax requirements as per the state. Quickbooks also allows for efficient order management, invoice creation, and smooth payment processing.

The Benefits of QuickBooks for Online Sellers

The following are some benefits online sellers can avail of while using QuickBooks online e-commerce.

• Better decision-making: QuickBooks allows e-commerce sellers to make better decisions by providing reports on overall profit and performance based on different categories, inventories, and insights on sales trends.

• Minimizes Errors: QuickBooks Online e-commerce helps track real-time inventory and integrates platforms like Amazon and Shopify, minimizing the number of errors in orders and financial reports.

• Efficient: With QuickBooks, everything is automated, including sales orders and inventory. This reduces the need for manual data entry, which means added efficiency as the business grows.

• Flexibility: QuickBooks Online e-commerce grows with your business and ensures each transaction is monitored and complex inventory is managed without compromised performance.

Step-By-Step Guide to Setting Up E-commerce QuickBooks

With so many ways of using QuickBooks for your e-commerce business, it’s best to avail the opportunity and set up your own account immediately.

1. Start by creating an Intuit account and then move toward the list of services QuickBooks offers. As per your requirement, purchase the type of software you’re looking for. You can pick between the different payment plans.

2. After you have made your purchase, open the QuickBooks download page. Choose the product that you purchased and then proceed to download it. Make sure to choose the right version of QuickBooks.

3. After downloading the file, select it to open the Install Wizard. The process begins immediately. Usually, the process is automated, but if it isn’t, you can tap on the file you have installed. To continue installation, read the license agreement and tap the Accept and Continue option.

4. Now, you will have to enter your purchase’s product numbers and license. You can then pick the option that allows you to locate. The program will take you to the page where all your business info, such as the business number, needs to be added. You can also log in to the Intuit account to find these details. Once you are finished, move on to the next step.

5. The final step is to choose the Express for Standalone Machine Workstation to complete the installation process. Then select Custom and Network options to install QuickBooks on your server.

6. If you already have the software on your laptop, you can choose to either 1 update or change the location. Select the option best suited to your requirements and complete the installation process. Those installing QuickBooks for the first time will have to reboot their computer. Those who aren’t can simply activate and proceed to work on the software.

Those installing QuickBooks for the first time will have to reboot their computer. Those who aren’t can simply activate and proceed to work on the software.

Get Expert Bookkeeping Assistance With Thank Heavens Bookkeeping!

At Thank Heavens Bookkeeping, we understand how challenging it can be for online sellers to run an e-commerce business and focus on its growth. From setting up QuickBooks online e-commerce to smooth integration and daily operations, we offer reliable services to all our clients to serve your business efficiently.

Let us help you with your issues; you only need to drop a message, and we’ll handle the rest for you.