Quickbooks for Ecommerce: 5 Reasons Quickbooks is great for Ecommerce businesses
Trying to decide if it’s worth it to get an accounting software package for your ecommerce business? Or which one to choose?
It can be confusing and, if like me, it’s not your super-skill, it also can be a little daunting trying to decide if it’s worth it. And then that time of year comes around again – your BAS, your tax; errrrr – it’s never pleasant.
But what if I told you it doesn’t have to all be so painful, and that ‘accounting’ and ‘ecommerce’ can live happily in the one sentence?
I’m 1 year into my Quickbooks journey and decided to share my top 5 reasons why I think it’s the best thing since sliced bread for my business.
Quickbooks for Ecommerce Reason 1: Transparency
Life after Quickbooks, like life after children, is so different!
I always have kept a tight purse on expenses, but I now realise that when I was manually tracking all my expenses, I was sometimes paying on one card; then on another; then some by cash; and I was missing logging a LOT of costs.
Little things like a top up of fuel here; some extra stock there; bank fees; networking coffees – there was a whole heap of expenses I was incurring that weren’t going through the books!
But with Quickbooks, and the automatic bank transfer and reconciliation, I never miss an expense. Ever.
And as a small business owner – you know what that means – more GST back!!!!!
Quickbooks for Ecommerce Reason 2: Bundling!
If you’re thinking ‘Quickbooks’ versus ‘Zero’ – which one should I choose for my Ecommerce business, I’ve got one word for you – BUNDLING!
Bundling is where you sell a group of products, like a gift hamper, or gift sets, on a regular basis. You may also sell the items within these gift sets individually.
Because I sell gift hampers among other things on my site, this was a MUST have.
I love how you can just add packages together in the back end, so when someone buys ‘The Best Hamper on Earth’, that’s what goes into Quickbooks; instead of the alternative universe without bundling which would have entering in the 10 individual items in the bundle separately every time you sell that hamper.
Quickbooks for Ecommerce Reason 3: No more paper
I LOVE ripping up my incoming invoices and throwing them in the bin.
That is, of course, after I’ve taken a picture of them and uploaded the picture into Quickbooks.
Nothing gives me greater pleasure than ripping those babies up and NOT having a pile of them I feel like I need to keep for 7 years for tax.
THANK YOU accounting systems for storing copies of my invoices on the cloud.
Quickbooks for Ecommerce Reason 4: BAS and end of year reporting in a click!
Oh my goodness.
I’ve said bye bye to the accountant doing my BAS and can do it myself in a heartbeat! DIRECT with the ATO would you believe?
It helps me keep on top of my figures and because I export products overseas, for me it means an instant GST refund every three months.
Quickbooks for Ecommerce Reason 5: Profitability
I have to admit, I really love my business and my customers.
Sometimes in my over-optimisim, I can get a little excited and tell myself it’s ‘okay’ if I give a massive discount to customer X because they’re so nice, and customer Y because, well, they deserve it.
Or perhaps throw in a few extra gifts because it’ll look good; or give extra nice wrapping with the most expensive ribbon because even though they didn’t pay for it, it looks great and they’ll come back …..
You get the drift.
Every savvy business person knows the path above leads nowhere fast.
However, now I have quickbooks, it’s a 2 second job to run a profitability report for ANY time of the year – like this week, this month, this quarter, etc.
So there is NO kidding myself that I need to pull my finger out and focus on profitability.
So business is booming!
If you have an ecommerce business haven’t yet got into online accounting, I can just say get on with it!
It will make your life sooo much easier, your business more professional.
You might also be interested in:
- Benefits of Quickbooks
- Comparison of Xero versus Quickbooks as your accounting software package
- 6 Signs of a Great Bookkeeper Gold Coast
- How to Choose the Perfect Bookkeeper for you
- Bookkeeping and data backups
Contact Astute Admin today to take advantage of $450 to set up you business onto Quickbooks Online.
07 5609 6697