Wednesday 25th January 2017
How To Use Xero & Shopify to Streamline Your eCommerce Accounting
Shopify provides plenty of integrations that can help streamline your business processes, and the integration with Xero is one that your eCommerce business should definitely consider. Shopify and Xero work together seamlessly and can bring huge benefits to the way you analyse data, complete accounting tasks and track progress.
Being able to integrate with Xero accounting is a huge advantage for Shopify merchants, so here’s why you should be integrating Xero into your Shopify store, and how to go about it.
Why Integrate Xero?
Accounting certainly isn’t something most eCommerce merchants look forward to. As necessary as it is, updating accounts is hardly the most exciting part of running an eCommerce business.
Integrating Shopify and Xero can remove the need for many tedious and time consuming jobs usually needed to keep your accounts updated.
With Shopify and Xero, all of your orders can be synced on a regular basis, removing the need for you to manually enter them into your accounting system.
You can remove the possibilities of duplicated entries by syncing exactly what’s in Shopify and reduce the chance of human error when entering data. This should make your accounts streamlined and easy to analyse.
As well as syncing your sales with Xero you can also sync returns data - making adjusting your accounts for returns much simpler and allowing you to see all of your sales and returns in one easy-to-access place, rather than being fragmented.
You can also easily handle tax rates for multiple different countries, removing part of the headache of international selling. Xero will automatically set up tax agencies based on the orders you import from Shopify.
Focus on Business
All of this saved time from reduced data entry and error means that you’ll have more time to spend on the things that really matter. You can turn your attention to growing your business, driving sales and providing fantastic customer service.
Shopify pays great attention to your business needs in general, and their Xero integration is just another example of this. You should be able to spend your days on the things that will make your business a success, rather than admin tasks.
Shopify’s Xero integration is also flexible, so you can adjust it to fit the needs of your business. Data can be synced on a daily, weekly or monthly basis, so you’ll always have the figures you need, when you need them.
With all of your sales data so easily manageable and accessible, integrating Shopify with Xero makes reporting and analysis so much simpler.
Being able to import your sales data into Xero on a daily basis means you can always monitor the most up-to-date data in your Xero dashboard. This allows you to react to any potential issues much more quickly.
You’ll also have access to sales data from manual entry, Shopify eCommerce and even in-store orders (if you’re using Shopify POS) all in one place. So analysing the performance of your different sales channels becomes a breeze. You can compare performance between channels and change how you allocate resources quickly and efficiently.
So once you’ve decided to integrate Xero with your Shopify store, how do you go about it?
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The setup process for the integration is extremely simple, and you should have your sales data syncing with Xero in no time. Here’s how to set up and start using Shopify and Xero to streamline your eCommerce accounting:
Getting start with Shopify and Xero only requires a few simple steps, and shouldn’t take you too long to complete.
First things first; be sure to set up your Xero account if you’re not already using it. Xero has a simple pricing structure, and even offers a 30 day free trial for Shopify merchants. So getting started and learning Xero’s interface should be hassle free.
Once you’re all up and running, just install the free Xero app on your Shopify store, follow the setup steps and you’re ready to start syncing data. If your site setup is a simple one, you shouldn’t need a developer to help you integrate Xero. If you’re using order management or pricing apps on your store, it’s a good idea to consult a Shopify Expert for a quick and painless integration.
Easy Data Transfer
As previously mentioned, Xero and Shopify allow you to sync sales data on a daily, weekly or monthly basis. Not only that, but Xero will take care of the syncing for you, so no need to remember to manually sync your data.
Your sales exports should match up to the SKUs and product details already in your system, so no need to create new product entries. You’ll be able to monitor inventory in your Xero dashboard and react to stock alerts quickly, so inventory can be easily updated in both Shopify and Xero.
You can also use the data transferred from Shopify to build invoices and quotes with ease, a great tool for B2B sellers who need to send traditional VAT invoices to their customers.
The Power of Shopify Apps
Shopify’s app store is an incredibly powerful ecosystem, with hundreds of fantastic integrations and features. Xero is just one of the services and systems that integrate seamlessly with Shopify thanks to apps. You can find out more about Shopify integrations by reading our blog post on integrating Shopify with your existing systems.
Xero just scratches the surface of what Shopify can do with apps. Using an app based system allows you to add additional features quickly and without the need for much technical knowledge.
Be sure to explore the many other great benefits that Shopify integrations can bring your eCommerce store.
Integrating Shopify with Xero is quick and seamless. Both are focused on bringing great benefits to businesses, and addressing your day to day needs, so they make fantastic partners.
Together, Shopify and Xero can make running your eCommerce business easier and allow you to focus on what really matters. Thanks to Shopify’s app ecosystem, connecting Shopify to your Xero accounting couldn’t be easier. So if you’re using Shopify for your eCommerce operations, there’s really no reason not to try it.
Want to find out more about what Shopify can do for your business? Just get in touch with us, and we’d be happy to help.