If you run a successful online store, you need to track a wide range of transactions and fees. This process becomes even more complex when you provide customers with multiple payment options. You probably don’t have time to record all of your PayPal deposits, refunds, and fees manually. Fortunately, PayPal integration can automate many financial tasks. The best way to integrate this payment method varies depending on your specific e-commerce platform and accounting software.
Shopify and Paypal Integration
One of the most popular online shopping platforms is known as Shopify. Millions of companies use it to manage internet retail transactions and create e-commerce websites. It also offers point-of-sale services for businesses with physical stores. Shopify’s capabilities range from calculating shipping costs to keeping track of the items that customers put in their online “shopping carts.” However, the platform doesn’t handle most accounting tasks.
Shopify recommends QuickBooks Online as the best accounting software for small companies. This cloud-based Intuit product provides a highly effective way for internet retailers to track their income and expenses. It also helps them prepare tax returns. While businesses may use the software separately, this often involves manual data entry. Companies save time by using Shopify app extensions to fully integrate their e-commerce stores with third-party services like QuickBooks Online.
How It Works
A sophisticated app like Flowify can send an assortment of Shopify data to your online accounting software. For instance, it will automatically transfer information about each sale, refund, and fee. Flowify processes data on credit cards as well as PayPal transactions. It collects financial information for Shopify and PayPal integration each day. If desired, it can also update your inventory data. This could help you monitor product availability and report inventory values on your tax return with greater ease.
Major Advantages of Paypal Integration
PayPal integration delivers several important benefits. For example, it can improve the accuracy of your financial records. You will avoid mistakes when you don’t have to manually enter PayPal transaction details. Consequently, you’ll know exactly how many dollars your business bank account contains and how much money you have earned. Greater accuracy can prevent cash shortages while ensuring that you always report the correct amounts on tax forms.
By automating numerous accounting tasks, the Flowify app saves considerable amounts of time. It produces daily summaries of PayPal income and expenses. You can rest assured that it will update your accounting records even when you’re away from the office or sleeping. The combination of Shopify, QuickBooks Online, and Flowify could also save money. You won’t have to pay an employee or contractor to complete data entry tasks (or perform other work while you’re busy with accounting).
Time Is Money
Thanks to Shopify and PayPal integration, you and your staff can focus on other goals. You might use the extra time to promote your business, communicate with customers, develop new products, ship items more quickly, organize supplies or maintain your equipment. You could also just take a break; rest is crucial to future productivity. Unlike needless manual data entry, all of these actions contribute to your company’s success. Accounting professionals also use Flowify to save time and boost productivity.
Paypal Integration Options with Flowify
Shopify users can benefit from the many versatile and convenient features of the Flowify app. While businesses have the option to let it automatically send data to QuickBooks, it’s also possible to review each transaction summary before allowing Flowify to post the data. The app makes it easy to check various useful statistics. For instance, you can quickly look up the amount of revenue your business devotes to PayPal and credit card fees. This dependable software keeps track of bank deposits as well as individual e-commerce transactions.
We frequently improve our application and add more features. Our affordable monthly fee includes updates, so you don’t have to pay extra. This service also comes with top-notch customer support; skilled accounting experts will answer your questions. However, you probably won’t need assistance very often. Our user-friendly app is easy to set up within minutes and includes helpful instructions.
Flowify can meet the needs of companies both large and small. It remains affordable for even the smallest internet retailers. More than 1,000 online businesses have embraced Flowify as an effective solution that saves time and maximizes the accuracy of their accounting records. If you’d like to learn more about Shopify and PayPal integration for QuickBooks Online, please contact our knowledgeable staff or start a free trial today.