Automating your e-commerce company’s accounting side not only ensures accuracy and flexibility over your company’s lifeblood, but you are also rewarding yourself with the time to invest your resources elsewhere.
Shopify is a leading cloud-based E-commerce program designed for medium and small-sized enterprises.
Simultaneously, QuickBooks is accounting software for small and medium-sized enterprises that manage all your finances. By integrating your Shopify order data with QuickBooks Desktop and QuickBooks Online. It syncs multichannel inventory and shipping as well.
With enormous data coming through, you will need a way to stay organized and keep your books updated. When you integrate QuickBooks with Shopify, your orders, inventory, customers, and shipping are automatically renewed and accurate.
Your payouts and fees can be automatically imported into QuickBooks, so you don’t miss any expenses. It will automatically import your sales, inventory, and order details into QuickBooks. Your orders can be imported with all sales tax data for effortless viewing by agency, the amount paid, and the amount owed. It will provide you a full summary of your orders and their total value.
Shopify and QuickBooks Online – Integration
QuickBooks for Shopify enables you to seamlessly export all of your Shopify sales to QuickBooks, straight from your admin. With a single click, your order data is automatically sent to your QuickBooks Online account. QuickBooks Online is a mobile, cloud-based software that still has powerful functionality but without the steep learning curve of QuickBooks Pro.
This online version of QuickBooks that supports integration with Shopify lets owners invest more time in growing their enterprise rather than investing time in understanding or using different payment platforms.
QuickBooks and Shopify Desktop Integration
QuickBooks Desktop is the old way of accounting software that was launched way back in 1992. However, QuickBooks Desktop is still one of the primary software choices of accountants worldwide.
QuickBooks Desktop most often indicates QuickBooks Desktop Pro, although there are three different QuickBooks Desktop products: QuickBooks Desktop Pro, and QuickBooks Desktop Enterprise, and QuickBooks Desktop Premier.
The principal difference between the three is that Pro is intended for small enterprises, Premier for medium enterprises, and Enterprise for large enterprises. Each plan progresses in terms of features and available users.
Each desktop version of QuickBooks offers unbelievable accounting tools and great features, including budgeting, expense tracking, and job costing, 200 integrations, and positive customer feedback.
However, It’s worth heeding that QuickBooks Desktop is only available on Windows operating systems.
Advantages of Shopify QuickBooks Integration
- It lets you easily and quickly import all your orders and refunds from Shopify into QuickBooks, including customers and products associated with the order. Plus, you can export historical data from as far back as you like from Shopify into QuickBooks. With one click, you can allow orders to be automatically exported.
- You can automatically export your fees and payouts for Shopify Payments. You can enable this setting, so all your Shopify Payments fees and payouts are automatically exported to QuickBooks Online.
- When you export your Shopify Orders into QuickBooks Online, you’ll be provided a full summary of all Shopify orders and their total value. Items and taxes are automatically exported.
- Every order you export from Shopify into QuickBooks will automatically cover all line items and taxes, so you don’t need to bother about adding them in.
- It automatically imports tax rates for several tax agencies. It will automatically set up new tax agencies and their associated tax rate based on your imported orders.
- You can easily choose which account you would like your product sales income and gift cards to go into. It lets you select an existing account or create a new one to import your order information, which includes being able to classify your gift card sales in a liability account.
Steps to Connect Shopify with QuickBooks Online or Desktop:
Step 1: Visit the Registration page of QuickBooks Online and then sign-up for your desired plan.
Step 2: Now, once you become a registered member, install the QuickBooks Online app from your Shopify App Store.
Step 3: Once this installation is complete, you can follow on-screen instructions so that you can log-in and get connected to your account.
Frequently Asked Questions
Does QuickBooks track the inventory that I sell through Shopify?
Yes. Shopify updates QuickBooks with every sales transaction’s details, including how many of each item you sold. Then, QuickBooks automatically subtracts the sold items from your quantity on hand, so it’s always up-to-date.
What QuickBooks data is synced with Shopify?
Shopify will sync the product data stored in the QuickBooks Online account to Shopify.
How are the Shopify Sales imported?
All orders and refunds from Shopify show up as a sales receipt in your QuickBooks. Every order you export from Shopify into QuickBooks will automatically cover all items and taxes, including shipping.
Can I integrate Shopify with QuickBooks Desktop?
Yes, you can integrate Shopify with all QuickBooks Desktop, Online, and Enterprise.