Small business accounting can be a bear, especially if you’re lacking the right tools of the trade. It can seem daunting at times. You’re drowning in the day-to-day minutia, but you know that however frustrating the accounting becomes, you’d better not neglect it — because the consequences are spelled I.R.S.
But how to manage? There are receipts to keep on top of, cash purchases falling through the cracks, maybe you’re accidentally mingling personal and business expenses… and the list goes on. There are far too many ways for a small business owner to go wrong!
And besides, you’re already busy with everything else that comes with building your small but mighty empire.
So naturally, you’re looking to shore up your defenses and get the right firepower in your arsenal — without breaking the bank. So here are the 5 Shopify small business accounting tools that’ll keep your
QuickBooks Online – You’re probably already familiar with this one, since Shopify and QuickBooks are something of an item. And for good reason – it’s so robust a system and so well-lauded that it makes all the competitors shake in their shoes. Intuit’s tried and true accounting software has 80% of the market share (wouldn’t that be nice). With QuickBooks Online, you can access your books from pretty much anywhere (literally on your phone, but preferably not while driving), collaborate with your bookkeeper and accountant, and if you’re going it alone, QuickBooks’ automations and walkthroughs make it easy enough to fly solo.
2. Integrate QuickBooks with Shopify Using Flowify
Flowify – Alright, full disclosure, this tool is ours. But we have to include it — it’s just too good not to! Because automation is king for the time-strapped small business owner. When your Shopify payouts are growing, and you’re experiencing ever-greater levels of success, you may find it difficult (if not impossible!) to find a reliable and inexpensive assistant for key tasks like exporting Shopify to Quickbooks. The time-consuming, mind-numbing task of manually copying over your Shopify store data (sales, inventory, refunds, processing fees, bank deposits, and more) to accounting software is something that just begs to be automated. So, in order to handle this like the maverick we know you are, try Flowify’s efficient, reliable, and sleek automation software. A smart Shopify-Quickbooks integration, Flowify never takes a day off or calls in sick, plus it works for practically no pay and never gets anything wrong. How’s that for an accounting assistant?
3. Pay Your Team and the IRS with Gusto
Gusto – Maybe your dream is to hire an A-Team of excellent employees who are eager to please both you and your customers. Great! We enjoy watching Shopify store owners get there. And when you do bring more hands on deck (and make your first hire) it’s a milestone worthy of celebration. But not so fast. With employees comes payroll. If you pay anyone $600+ throughout the year, you’re now required to fill out a Form 1099-MISC. And if they’re truly staff, the IRS requires you to send each worker W-2 statements. Gusto takes the headache out of running payroll, and they make quick work of those pesky forms… all at a fairly low price.
4. Pay Bills on Time With Bill.com – And Stop Shooting Yourself in the Foot
Bill.com – These folks claim they’ll have you spending 50% less time on business payments. Fact or fiction? Well, we’re pleased to report that it’s true. When you’re ready to bring your accounts payable into the 21st century and automate bill pay, Bill.com is a great solution. Your left brain will salivate over features like their automated payment approval system. Rather than just paying blind on a set date, this super-smart tool ensures your cash flow is kosher so you’re never left in a bind.
5. Track Your Expenses with Expensify
Expensify – If you find yourself juggling folders full of receipts, never knowing which employee has been reimbursed and when… then you’ll be glad to know there’s a better way. Expensify automates the entire receipt tracking and expense management process. That means you’ll never have an employee rolling their eyes as they wait, and wait, and wait to be reimbursed. Stay on top of important receipts and expenses with Expensify.
Isn’t life grand? One moment you’re sweating bullets and wondering how you’ll manage your small business accounting. The next moment you feel like you’re lying on a bed of
Just so you know, with Flowify, Shopify store owners can completely automate their accounting integration with Quickbooks. It couldn’t be easier to track Shopify sales, inventory, refunds, processing fees, bank deposits, and more.
Get started today and see how a support team of accountants and bookkeepers can help you to better manage your Shopify store accounting. Think of us as your QuickBooks-Shopify connection.
We know you’ll put these 5 small business accounting tools to good use. Keep building, growing, and learning – but most of all, enjoy the process!