There has been a rampant increase in transactions over electronic commerce so a change in accounting methods and ways to deal with e-commerce sales information using Outsource Bookkeeping Services India. Below are some of the points to be considered for accounting for e-commerce business.
1). Accuracy in data obtained from e-commerce sales and accounting information needs to be maintained and rectified from time to time.
2). In an eCommerce field, where data feeding and functioning of various accounting options are automated, there is an utmost need for the presence of intermediate accounting software.
3). The accuracy of the information can be achieved by matching bank receipts with sales data. This is required as a precautionary measure to keep track on updating of sales data such as orders, items, inventory, customer, shipping and tracking information.
4). However, the attainment of this precision in accounting data and prevention of poor customer review or sales loss, integration of accounting software like QuickBooks and e-commerce platform is essential.
5). This integration can be made possible by importing the sales data to accounting software. This further drives towards receiving sales executed through platforms for ECommerce business planning such as Shopify, Magento, Tradegecko, 1shoppingcart, WooCommerce, BigCommerce and much more into our bank accounts.
6). Various e-commerce integration solution helps to update accounting information and maintain a record of your financial aspects of business and inventory.
7). Certain features, which make this integration viable for digital financial platforms and software, are enlisted below:
These features highlight the requirement for importing your sales from E-commerce portal to QuickBooks.This is facilitated by usage of apps to help connect QuickBooks to eCommerce platform:
Helps to save time and money through business automation by sharing data between marketing applications.
Helps to sync and connect application software like QuickBooks.