10 Signs Your E-Commerce Financials are Set Up for Success: Part 2
In part 2 of the series, we’re going deeper into the areas where e-commerce bookkeeping gets more complex. We’re talking about places where most sellers, even those with decent systems in place, tend to have gaps. Inventory tracking, sales tax compliance, financial report reviews, and the year-end details that quietly cause problems when they are skipped. Here are more signs your e-commerce financials are set up for success.
How to Record Shopify Deposits in QBO with A2X
If you’re using an A2X integration between your Shopify store and QuickBooks Online, you’re used to seeing a matching A2X Journal entry for each Shopify payout deposit on your bank feed. That’s exactly how it’s supposed to work! No guessing which Shopify orders belong to which bank deposit - it’s all sorted out in A2X where all the Shopify transaction data is collected and summarized into Journal Entries for QuickBooks Online. These summarized A2X Journal entries record all the components of your Shopify sales into the right categories in QuickBooks Online and will “match” with a Shopify Payout deposit on your connected bank feed. Of course, this perfect workflow depends on setting up the integration and mapping to QuickBooks Online correctly in the first place, and maintaining and updating the mapping when something new is sent over from Shopify that hasn’t been mapped to QuickBooks before. So, what happens when you’re working through your bank feeds in QuickBooks Online and can’t find a matching A2X Journal entry recorded in the books? There’s usually two scenarios. Both can be resolved by logging into your A2X account. Let’s take a look at how to record Shopify deposits in QBO with A2X.
5 Signs that your bookkeeper does not know Shopify bookkeeping
Do the numbers in your books provide accurate insights into the profitability of your Shopify business? Shopify sellers rely on clean and updated financials for strategic planning and growth in their business. Since e-commerce bookkeeping is different than regular bookkeeping, you will need to work with a bookkeeper who understand how to navigate the intricacies of Shopify bookkeeping. Could your books be a mess from a Shopify to QuickBooks Online integration gone wrong? How can you know if your bookkeeper is correctly recording all the components of your Shopify income? Let’s uncover the top 5 signs that your bookkeeper does not know Shopify bookkeeping.
Demo and review of Shopify connector app by QuickBooks
Are you a Shopify seller looking for a way to streamline the workflow for entering your Shopify transactions into QuickBooks? If so, maybe you have heard about the Shopify connector app by QuickBooks and are wondering if it's a good fit for your business. If you’re not familiar with it, the free Shopify connector app by QuickBooks records summarized transactions from Shopify to QuickBooks Online. But before you jump right in, it’s important to understand how it works and also be aware of its limitations. Keep reading or click to watch the video linked below and we’ll go over a demo and review of the Shopify connector app by QuickBooks.
Shopify and QuickBooks Online integrations: 3 tips to avoid costly mistakes
You may already know that integrating your Shopify store with QuickBooks Online can eliminate a lot of manual processes, but you might not know that there are some hidden dangers to beware of. Before you attempt a successful integration, it's important to know about these potentially costly mistakes and learn how to avoid them. At Mavency we have helped many Shopify sellers set up their Shopify and QuickBooks Online integrations the right way and we have some expert tips that can help you avoid common pitfalls. Watch the video linked below or keep reading to hear about Shopify and QuickBooks Online integrations: 3 tips to avoid costly mistakes.
5 Crucial steps for setting up your Shopify bookkeeping with QuickBooks Online
Where are you along the path to running a successful Shopify store? Maybe you’ve set up your Shopify e-commerce site and things are starting to really take off. In fact, maybe business is booming - congratulations! Now it’s time to handle the business side of things to keep going strong. If you're a Shopify seller using QuickBooks Online, it's crucial to set up your Shopify bookkeeping the right way. Shopify bookkeeping is more complex than most so some customized setup is needed to make it work efficiently. I’ve worked with numerous Shopify sellers to help them set up, organize, and streamline their bookkeeping, and I’m here to offer some guidance that could save you tons of time and frustration. Keep reading or click the video linked below and I'll share 5 crucial tips for setting up your Shopify bookkeeping with QuickBooks Online.