How to select an accounting software for your e-commerce store?

How to select an accounting software for your e-commerce store?

How to select an accounting software for your e-commerce store?
accounting software for ecommerce storeEvery small to medium sized e-commerce business has encountered some or the other accounting and booking keeping challenges. Even a small accounting error can potentially be a Big Problem!
Not all accounting, bookkeeping and time tracking tools are created equals. Any type of Accounting Software is not applicable across the board.

Hence we want to throw light upon some top three types of accounting systems that would suit your e-commerce store.

(1) Payroll and Accounting for Small Businesses:
These are off-the-shelf systems that meet the needs of most small businesses. Businesses will have accounting tools, reports, and anything they need to assess their financial data. QuickBooks, Peachtree and Simply Accounting are some examples of these typically easy to use and customize solutions. The have an abundance of add-ons for small businesses with some custom needs. They even have online versions of their programs

(2) Business Managment Software:
These are for businesses that need to keep track of point of sale and inventory control. These have more features that integrate billing, purchasing and even customer relationship management into an all-encompassing package.
(3) Free Solution:
Because they are dealing with sensitive financial data, most businesses used to be skeptical of the free option. However, the free version helps customers do the most basic business functions such as create invoices, print check and even handle payroll. This is for smaller businesses that may not have the budget for paid software at the beginning.

Here are a handful reasons why your e-commerce site requires an online Accounting Software:

1. More secure than a PC-based software which have a high risk of viruses

2. Files Automatically Backed Up – so it doesn’t matter if coffee is spilt on the PC!

3. You receive Software Updates free of charge

4. Cloud Accounting is Software as a Service(SaaS)and is charged as a monthly subscription, thus avoiding the large up front capital investment needed for PC based accounting systems.

5. Mobile Access – useful for owners to keep tabs on the business even while traveling

6. Automatic bank feed- updates transactions without the need for manual entry

7. 24/7 email support and ongoing training programs for Small Business

8. User-friendly financial dashboard at the click of a button (graphs, pie charts,cash flow, profit and loss,aged debtors/creditors )

9. Online accounting is a more scalable solution as the business grows – can add on functionality through integrated applications

10. Build your own menu of accounting functionality, rather than an inflexible one size fits all PC based package

11. Paypal link on invoices encourages quicker payments -improving business cash flow for Small Business

12. Collaborate better with your accountant- time spent focusing on forward looking strategic business growth and tax planning

13. Accountant advice available 24/7 – not just when he/she comes to your premises for a visit

14. Paperless office -reduce stationary bills

15. No need for servers -reducing overheads (IT staff salary and network costs saved)

16. Many repetitive tasks are automated – saving significant time

17. Payroll integration – more cost effective than outsourcing to an accountant or bookkeeper

18. Accountant can advise bookkeeper in real time, avoiding unnecessary duplication of work

19. Robust set of monthly management accounts- many business do not have this information on which to make decisions

20. You can integrate E- commerce functionality

The above 20 points highlight the importance of integrating a good accounting software to map your business progress from time to time

BEST Ecommerce Accounting SOLUTION:
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Ecommerce Diva!
[email protected]

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