Ecommerce businesses have unique accounting needs due to the complexity of their operations, including inventory management, sales tax, and various payment gateways. To manage these complexities, several apps and tools have been developed to aid accountants and eCommerce business owners. In this article, we will explore cloud bookkeeping solutions, Point of Sale (PoS) tools, and popular eCommerce tools that can help manage your clients' eCommerce businesses more effectively.

 

Cloud Bookkeeping Solutions

Cloud bookkeeping solutions have become increasingly popular due to their convenience, accessibility, and real-time data updates. These solutions allow you to manage your clients' financials from anywhere, making it easier to collaborate and provide timely advice. Some of the top cloud bookkeeping solutions for eCommerce businesses include:

 

1. QuickBooks Online: This popular accounting software offers a tailored solution for eCommerce businesses, integrating with popular platforms like Shopify and WooCommerce. QuickBooks Online can handle inventory tracking, sales tax calculations, and expense management, making it an excellent choice for managing your eCommerce clients.
2. Xero: Xero is another leading cloud-based accounting software that offers a range of features specifically designed for eCommerce businesses. It integrates with various eCommerce platforms and payment gateways, streamlines invoicing, and provides detailed financial reporting. With Xero, you can also connect to numerous add-on apps to enhance its capabilities further.
3. FreshBooks: FreshBooks is an easy-to-use cloud accounting solution that focuses on invoicing and expense management. While it may not offer advanced inventory management features, it's an excellent choice for small eCommerce businesses that require a user-friendly solution to manage their finances.
4. Zoho Books: Zoho Books is a comprehensive cloud accounting solution suitable for small to medium-sized eCommerce businesses. It offers inventory management, invoicing, and expense tracking, along with customizable templates and robust reporting features.

 

Point of Sale (PoS) Tools

Point of Sale tools are essential for eCommerce businesses that also operate brick-and-mortar stores or need to manage various payment gateways. These tools help manage sales transactions, track inventory, and generate sales reports. Some popular PoS tools for eCommerce businesses include:

1. Etsy: Etsy is an online marketplace that allows sellers to create their own storefronts and manage sales transactions. While not a traditional PoS system, it provides a platform for small businesses to sell their products and manage their sales data.
2. Fulfillment by Amazon (FBA): FBA is a service provided by Amazon that allows businesses to store their products in Amazon's warehouses and have Amazon handle shipping and customer service. This service can help streamline the sales process and inventory management for your clients selling on Amazon.
3. GoCardless: GoCardless is a payment processing platform that specializes in direct debit payments. It can be integrated with popular accounting software and eCommerce platforms to simplify the process of receiving payments from customers.
4. iZettle: iZettle is a mobile PoS solution that allows businesses to accept payments, track sales, and manage inventory on-the-go. It's an excellent option for small businesses and pop-up shops that require a flexible and portable payment solution.
5. Shopify POS: Shopify's PoS system is designed specifically for businesses using the Shopify eCommerce platform. It offers seamless integration with your online store, allowing you to manage inventory, sales, and customer data in one place.
6. Slack: Although not a PoS tool, Slack is a powerful collaboration and communication platform that can be used to coordinate sales and inventory management among team members, providing real-time updates and facilitating efficient workflows.
7. Worldpay: Worldpay is a global payment processing platform that supports a wide range of payment methods, including credit cards, debit cards, and mobile wallets. Integrating Worldpay with your clients' eCommerce platforms can help streamline payment processing and ensure secure transactions.
8. Vend: Vend is a cloud-based PoS system that integrates with popular eCommerce platforms like Shopify and WooCommerce. It offers advanced inventory management features, sales analytics, and customer loyalty programs, making it ideal for growing eCommerce businesses.

 

Popular eCommerce Tools

In addition to cloud bookkeeping solutions and PoS tools, there are several popular eCommerce tools that can help you better manage your clients' businesses:

1. A2X: A2X is an accounting tool specifically designed for Amazon and Shopify sellers. It automates the process of importing sales and fee data into your preferred accounting software, streamlining reconciliation and providing accurate financial reports.
2. Bold: Bold offers a suite of eCommerce apps designed to help businesses increase sales and improve customer experiences. Their apps include subscription management, product upsells, pricing customization, and more, making them a valuable addition to any eCommerce business.
3. Patreon: Patreon is a platform that allows creators to earn recurring revenue from their fans and supporters. By integrating Patreon with your clients' eCommerce businesses, you can help them diversify their income streams and create a more sustainable financial model.
4. TaxJar: TaxJar is a sales tax automation tool that simplifies sales tax calculations, reporting, and filing for eCommerce businesses. By integrating with popular eCommerce platforms and payment gateways, TaxJar ensures accurate and timely tax compliance for your clients.
5. DEAR Inventory: DEAR Inventory is a comprehensive inventory management solution that integrates with popular eCommerce platforms and accounting software. It offers features such as order management, stock control, and real-time inventory updates, making it an ideal choice for managing your clients' inventory needs.

 

In conclusion, managing your eCommerce clients' accounting needs can be challenging due to the complexity of their operations. However, by leveraging cloud bookkeeping solutions, Point of Sale tools like Etsy, FBA, GoCardless, iZettle, Shopify, Slack, Vend and Worldpay, and popular eCommerce tools like A2X, Bold, Patreon, TaxJar, and DEAR Inventory, you can streamline your clients' financial management and provide them with valuable insights to help grow their businesses.