Inventory and COGS Fundamentals for Shopify Sellers
Whether you're just starting out as a Shopify seller or watching your store grow, you've probably heard that tracking inventory and cost of goods sold (COGS) in your bookkeeping is essential. But what exactly are inventory and COGS, and why are they so important for your business? In this article, we’ll break down everything you need to know about Inventory and COGS fundamentals for Shopify Sellers.
Why is Shopify bookkeeping with QuickBooks Online so different?
You probably wouldn’t set out to climb a mountain without making sure you have the right tools, knowledge, and experience to navigate the journey successfully. Imagine how an attempted mountain climb might turn out if you were not prepared and didn’t know the roadmap to get where you were heading! Did you know that Shopify bookkeeping can be tricky to navigate too? The right tools and a trusted roadmap are required for a successful journey. One of the tools we recommend for Shopify bookkeeping is QuickBooks Online. Today we’ll uncover some complexities and shed light on what you need to know to stay on top of your financial game. Keep reading to discover why is Shopify bookkeeping with QuickBooks Online so different.
How to reconcile e-commerce clearing accounts in QuickBooks Online
Shopify sellers often juggle many financial management tasks, including managing e-commerce clearing accounts. But what are payment clearing accounts, and how can you maintain them accurately in your records each month? Keep reading to discover how to reconcile e-commerce clearing accounts in QuickBooks Online!
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.
Record Shopify sales and fees in QuickBooks Online in 3 steps - without using an app
If you're an e-commerce seller juggling both Shopify and QuickBooks Online for your business operations, you've probably explored various apps to connect these platforms and sync your financial data. If so, you’ve probably also encountered some challenges in trying to integrate these platforms seamlessly. Maybe you are looking for an alternative approach that is ideal for small sellers or those who want to avoid using integration apps. You’ve come to the right place! Watch the video linked below or keep reading and we’ll walk you through how to record Shopify sales and fees in QuickBooks Online in 3 steps - without using an app.
Shopify to QuickBooks Online integration : Which app should you use?
Are you an e-commerce seller who relies on both Shopify and QuickBooks Online for your business operations? If so, you’ve probably encountered a variety of integration applications designed to connect Shopify with QuickBooks Online. But did you know that not all Shopify to QuickBooks Online integrations are the same? In fact, choosing the wrong integration can lead to big messes in your books. So before you dive in head first, it’s essential to choose the right integration app that will save you time and simplify your Shopify bookkeeping. Keep reading or watch the video linked below for some expert guidance for your Shopify to QuickBooks Online integration : Which app should you use?
Shopify bookkeeping with QuickBooks Online: start to finish in 5 steps
If you're like many Shopify sellers using QuickBooks Online, you might want to understand what's involved in doing your own bookkeeping before you consider turning it over to a professional. At Mavency we’ve helped numerous Shopify sellers set up, organize, and streamline their bookkeeping, so we know just what it takes. If you’re ready for some useful tips, let’s take a behind the scenes look into the 5 essential steps that Shopify sellers should be doing every month to work on your own bookkeeping using QuickBooks Online. Click the video linked below or keep reading and we'll go over Shopify bookkeeping with QuickBooks Online: start to finish in 5 steps.