Why proper accounting is important
Accounting isn’t a subject that generates much excitement. However, if you’re running an online store or any kind of business for that matter, it is something that needs to be taken seriously.
It involves understanding how to use numbers to make decisions that affect the future of your company. It can be intimidating at first - especially if you haven't had any experience with it before - but don't worry! Learning about accounting especially in the eCommerce perspective doesn't have to be painful.
If you’re running an online store and need an accounting solution cloud - based ☁️ is the way to go! Let’s have a look at your options:
Xero is the cloud-based accounting solution that helps small businesses track profits and expenses and manage their bookkeeping. It includes everything you need to get back on track with your business, including free one-on-one expert support.
- Keep track of financials on the go.
- Xero uses encryption so you can know that your data will be safe.
- You can easily email quotations or bills to customers directly from Xero.
- Pay your bills - on time 😉
- Accept sales in different currencies - great for when your selling internationally.
- Xero has a great analytics function that enables you to see future cash flow predictions, top selling products & more.
- Xero allows for inventory tracking with all the bells and whistles. Add your cost price, sell price and on hand values to get a great overview of your stock assets as they flow in and out of your storage facilities. note: Xero only allows tracking inventory for a single location/warehouse.
- Pricing plans ranging from R400 p/m they have a 30 day trial available if you want to try it out.
- Xero can integrate with platforms like Google Sheets, Zapier & Shopify to name a few … 🤯
- Incredible amount of third-party apps integrate directly with Xero
- Mobile app ✅
Zoho Books is a cloud-based accounting solution that allows you to track your business' finances. It helps you manage accounts, create invoices and estimates, track payments and expenses, generate reports, and even manage payrolls.
- You get quick, handy insight into your financial situation thanks to the clear and straightforward dashboard of Zoho Books.
- Zoho Inventory is an inventory management software that helps you keep track of all your stock levels in real time. Similar to Xero in many ways, but you can add multiple stock locations and track as inventory flows between them.
- Zoho Expenses Zoho Expenses (formerly known as ZOHO Expense Management) is an expense reporting system with features including expense tracking and approval workflow automation.
- The project management tool allows users to collaborate on projects by adding tasks or tasks lists together with milestones/deadlines; users can also create reports based on their projects data.
- Pricing plans ranging from R100 p/m they have a 15 day trial available if you want to try it out.
- Zoho Books can integrate with platforms like Paypal, Stripe, Google drive & more.
- Mobile app ✅
Quickbooks Cloud Based Accounting Software is an easy to use accounting solution for small businesses. QuickBooks cloud accounting is affordable and accessible from anywhere, simplifying your finances with new features that let you manage your business from anywhere.
- Your books will always be correct and up to date thanks to synching with your bank and other apps.
- The main focus of QuickBooks is small enterprises. Small businesses can use their software to expand and make higher profits.
- Manage and pay your bills.
- Manage Payroll.
- Inventory management.
- They also have multi currency support available.
- Pricing plans ranging from R250 p/m they have a 30 day trial available if you want to try it out.
- Quickbooks can integrate with platforms like Shopify, Paypal & more.
- Mobile app ✅
The secret weapon?
You can use any of the solutions we talked about above, they all have different strengths and weaknesses but they pretty much do the same. The secret is finding an integration service that can integrate everything you love about your chosen accounting platform with the rest of your business. Doing this will save you even more time.
What if you could?
- Automatically create an invoice in your accounting platform after making a sale online?
- Ideally - anywhere online - your own website, Takealot, Makro etc.
- Automatically update stock levels on your website & accounting platform?
It’s all possible 🤩 Wherehouse can integrate with any of the platforms listed above, so take your pick. We got your back now matter which you choose.
Written by
