If you’ve been doing the accounting for your e-commerce business, you know that the most arduous part of the process is manually importing your sales data for processing. Fortunately, there are plenty of options for connecting your payment processor to your accounting software, and in this article, we’re examining the pros and cons of five subscription services that do just that.
Bold is the odd one out of this bunch, since its primary function is as a POS system and checkout integration. However, from a bookkeeping perspective, it keeps things simple with daily transaction imports and the ability to create invoices. Bold also offers tax support and sales tax collection, but its scope is limited to integration between Xero and Shopify.
Bold would be a great choice for private label or D2C brands looking to build a loyal customer base while taking care of the basics of their accounting.
Link My Books
Link My Books is a great option for Amazon and eBay sellers who want to automate their bookkeeping without having to hire an outsourced accounting team. Users can expect regular reconciliation of their transactions, VAT, and sales tax, as well as baseline automated accounting connections to Quickbooks and Xero.
Link My Books offers an FAQ helpdesk and an automated chat bot for support, making them a good choice for sellers with less complex accounting needs.
Snyder connects to both Xero and Quickbooks and works with a myriad of payment processors, including Shopify, PayPal, Stripe, Square, and Amazon. Sellers will have access to detailed reports on their inventory, shipping, discounts, and returns, as well as be able to receive and process credit card payments through their Snyder portal.
Snyder offers live support and multiple subscription levels – including one option for as few as 500 transactions per month – that allow smaller sellers to choose the level of service that’s right for their business.
Webgility bills itself as a one-stop shop for e-commerce sellers, tackling accounting integration, inventory management, shipping, and sales analytics all in one place. For larger sellers doing business on multiple platforms, they provide omnichannel integration that keeps things running smoothly across all sales channels.
You can think of Webgility as the Swiss Army knife of e-commerce software – it’s best for larger sellers looking to condense all of their operational services into a single monthly cost.
A2X hits a sweet spot between the niche expertise of e-commerce accounting and the scalability to work with sellers of all sizes. Integrating with Quickbooks, Xero, and Sage, they make reconciling journal entries painless while providing detailed summaries that organize transactions by month for ease of analysis. They also report on sales across multiple channels so you can see every area of your business at once.
Sellers who already have an established inventory management system and want to add an expert integrative tool to their arsenal are a great fit for A2X.
Seller Accountant’s Recommendation
As e-commerce accounting professionals, we can’t say enough about how much value we get from A2X.
The platform splits settlements by month to make comparative analysis easier, it provides seamless integration that enables our team to work more efficiently, and it was designed with accrual accounting in mind, so we know we can trust its accuracy.
We also appreciate that CFO-level features like highlighting COGS and custom reporting allow us to keep track of our clients’ financial health in real time. A2X has made our practice run more smoothly, and that translates to better client relationships.
A2X knows what they’re doing – they’ve been around since 2014 – and understands the e-commerce industry inside and out. The A2X team works with e-commerce accounting experts, like Seller Accountant, to keep up with best practices and provide users with a seamless experience. They’ve even been named a Staff Pick by Shopify and hold the #1 spot on Amazon’s list of recommended accounting services.
Seller Accountant uses A2X to guarantee accurate and timely bookkeeping. If you’re ready to take the next step in your e-commerce business and see what an automated accounting system can do for you, book a free discovery call today.