Over the last decade, online stores have grown at an almost alarming rate. Although online shoppers don’t get to touch and feel the products offered before purchase, many trust e-commerce websites that have discount offers, replacement or refund policies, and multiple payment options among others.
Today, entrepreneurs can sell goods and services all over the world without needing a team of salesmen or an expensive business premise. As a result, traders have reaped tremendous benefits from their e-commerce stores. But rapid growth comes with its own challenges, which include tracking sales and managing accounts. Fortunately, there is an easy to implement and highly effective solution in the form of QuickBooks. When this ever-reliable business accounting solution is hosted in the cloud, it can help automate and simplify several accounting requirements related to e-commerce storefronts. To help you understand the importance of implementing QuickBooks hosting for your business, below is an overview of the key benefits.
Automated sync with sales
Apart from providing added convenience to customers, QuickBooks payment plugins and gateway integration creates a truly secure payment processing experience and ensures seamless bookkeeping. Not only will this pace up the business, but it also provides added convenience to customers. Updating manually is bound to cause delays in accounting operations while opting for QuickBooks hosting means automated transaction updates.
Leading e-commerce platforms like BigCommerce, Shopify, and Magento are compatible with QuickBooks, giving a chronological display of ongoing business transactions. Cloud computing comes with benefits such as anytime and anywhere access, meaning you can process accounting tasks with a much higher level of freedom when using QuickBooks hosting. More importantly, this solution will present you with all sorts of transactions besides sales, from refunds and chargebacks to pending payments and much more.
Ability to manage your shipping and inventory from anywhere
For many e-commerce businesses, it’s not easy to manage shipping and local inventory simultaneously. When integrated with QuickBooks desktop, add-ons can prove sufficient for local needs. However, the situation is a lot more complex for businesses that must ship their products all over the world from inventories at various locations. In such cases, QuickBooks hosting is vital. The solution’s cloud-based operations make it possible for various users to team up and update relevant details instantly. Additionally, real-time monitoring and control capabilities allow the admin to keep a check on user permissions, ensuring security. QuickBooks hosting allows for better integration when using specific add-ons because it’s not dependent on the local device. This independence makes it possible to increase on-demand resource with the hosted server.
Compatibility with multiple payment options
QuickBooks resolves most of the issues related to traditional sales. However, online sales involve more than cash, bank account, credit card payments. PayPal and Google Wallet are among the most commonly used payment options. Fortunately, QuickBooks is capable of handling many of these options. Another standard feature is the involvement of different currencies since e-commerce stores are expected to serve a global market. With QuickBooks hosting, different currencies will not cause any accounting delays.
For some online stores, sharing between iOS and Windows systems, for example, might not be easy. Fortunately, there are solutions that promote collaboration by allowing seamless file and data sharing. Discover more here.
When all is said and done, QuickBooks hosting is one of the most effective tools for managing the accounting needs of any e-commerce business.