Although QuickBooks Enterprise is not an eCommerce accounting software per se, it offers many essential features that can help you manage your business more efficiently. QuickBooks Enterprise itself can manage inventory and purchase orders, but we recommend that eCommerce retailers integrate it with their Commerce platform.
Today, we’ll discuss some of the features and functions of QuickBooks Enterprise that are particularly relevant to eCommerce accounting.
QuickBooks Enterprise lets you easily track your sales, including sales made through your eCommerce platform. You can set up sales receipts, invoices, and other transactions in QuickBooks and link them to your online sales channels, such as Shopify, Amazon, or eBay. Once you’ve set up your eCommerce platform in QuickBooks Enterprise, you can start creating sales receipts and invoices for each transaction. These sales forms will contain all the relevant information about the sale, including the customer’s name and address, the product or service sold, the price, and applicable taxes or fees.
Applying discounts and promotions
QuickBooks Enterprise allows you to apply discounts and promotions to your sales transactions. You can set up discount codes and promotional offers within your eCommerce platform, and these discounts will be automatically applied to the appropriate transactions in QuickBooks Enterprise. You can gain complete control of your pricing structure using the Advanced Pricing module in Enterprise.
Streamlined order management
Since QuickBooks Enterprise can integrate with popular eCommerce platforms, you can use it to automatically import orders and sync data in real-time. This can help to reduce manual data entry and improve order accuracy.
eCommerce businesses that sell globally can benefit from QuickBooks Enterprise’s multi-currency support, which allows them to manage transactions in different currencies.
QuickBooks Enterprise is designed to support growing businesses with up to 40 users and can handle large volumes of data. This makes it an ideal choice for eCommerce businesses that need a scalable accounting solution to support their growth.
Inventory is a critical part of eCommerce, and QuickBooks Enterprise makes it easy to manage your inventory levels and costs. You can track inventory quantities, set reorder points, and monitor sales trends to ensure you have the right products in stock at all times and reduce the risk of stockouts or overstocking. You can also create custom pricing rules based on quantity or customer type and use barcode scanning to track inventory. Learn why QuickBooks Enterprise is the best inventory management software on the market.
Running an eCommerce business involves a variety of expenses, from website hosting and advertising to shipping and handling fees. QuickBooks Enterprise allows you to track all these expenses and even automate expense tracking for recurring expenses. Make sure to categorize all your expenses correctly in Enterprise. This will help you track your business expenses accurately and make informed decisions about where to allocate your resources.
QuickBooks Enterprise integrates with various payment processors, including PayPal and Stripe, making it easy to process customer payments and reconcile transactions in your accounting software. In addition, we can do a direct integration that can allow you to process payments directly in QuickBooks Enterprise and can also link up with practically any outside web store or shopping cart with our QuickBooks Desktop Payments Integration.
Enterprise provides various customizable reports to help you understand your business finances and make informed decisions. For example, you can generate reports on sales by product, customer, or channel, as well as profit and loss statements and balance sheets. Use these reports to identify areas where you can improve your profitability and streamline your operations. Explore Advanced Reporting in QuickBooks Enterprise and how it benefits your business.
User access controls
If you have multiple people that can access your eCommerce accounting data, you control user access to specific features and data, improving security and reducing the risk of unauthorized access.
Overall, QuickBooks Enterprise can help eCommerce businesses to streamline their accounting processes, improve inventory management, and gain better insights into their financial performance.