Is your e-commerce store in need of a set of accounting tools to help you manage the financial side of your business? If so, you might benefit from the functionality provided by Australia-based MYOB (Mind Your Own Business), which offers niche, high-quality accounting and business software for mid-sized e-commerce merchants. Read on to learn more about what MYOB can do for your e-commerce business and how you can integrate MYOB with various e-commerce platforms.
What is MYOB?
As mentioned, MYOB is a company which specializes in creating specific kinds of tools related to the accounting/business side of an e-commerce company. Their accounting software, which automates processes relating to payments, payroll management, retail point of sale, and tax solutions, can be used in tandem with the apps and tools you may already be using in order to provide you with a complete package for managing the financial systems needed to run your business.
MYOB divides its assortment of third-party apps into various categories, such as asset management, email marketing, manufacturing, and data synchronization. There are plenty of apps that you may already be using to streamline some of your company’s financial processes, with Neto Commerce, Waddle, and Relay among the more popular ones. The best part, of course, is that these tools can be seamlessly integrated with each other to provide you with faster results and to maximize efficiency.
For example, let’s say you’re using an accounting software such as BQE Core to deal with billing, project management, invoices, and a few other financial items. In order to automate your other finance and business related processes such as profit/loss details and analysis, inventory, and payroll, you might use MYOB AccountRight as a separate tool. The downside here is that by using two separate programs, you’re likely repeating manual tasks and gathering/analyzing the same data more than once. This will inevitably lead to lost time as well as revenue sunk into managing two different pieces of accounting software.
So, by integrating these tools with each other, you can save time and money and streamline your financial processes such that you’re easily able to come to conclusions based on the data you’re collecting. The faster you gain these insights, the quicker you’ll be able to act on them, and the better your e-commerce business will fare over time.
How to Integrate MYOB With Various E-Commerce Platforms
Not only can you integrate MYOB tools with other independent accounting-related services, you can also use them in conjunction with tools offered within an e-commerce platform which you may be using to run your e-commerce store. Here’s how you can go about establishing integrations between MYOB tools and tools offered by Shopify, WooCommerce, Squarespace, and Wix.
To integrate between Shopify and MYOB, we strongly recommend shypyard.io. Shypyard specializes in creating custom Shopify integrations for your e-commerce store, and the team is very experienced in working with both Shopify and MYOB integrations in general. To learn more about Shypyard’s work with MYOB integrations and to contact the team click here. Other services which can help with providing integrations between MYOB and Shopify include Celigo and Blackball Software.
Using MYOB AccountRight with your WooCommerce store is a breeze thanks to WooComerce’s very own MYOB Integration for WooCommerce. Syncing the MYOB tool to your e-commerce store takes nothing but an API key, after which the plug-in does the rest of the job. Integrating your WooCommerce store with MYOB can help you keep track of payments, expenses, and customer/analytics data which you can act upon to improve customer retention and build up your e-commerce store.
Square (with the help of its partner company, Amaka) now offers a handy integration with both MYOB AccountRight and MYOB Essentials. Using this integration, it’s easy to track transactions and expenses related to your Squarespace e-commerce store, and you can gather and analyze those transactions with a detailed, analytics-inclusive breakdown directly with MYOB. You can also sort sales by categories, including product, store location, payment type, and those involve refunds or other complications.
- Others - BigCommerce, Wix, GoDaddy …
For e-commerce platforms without an already established integration to MYOB, Shypyard can readily provide your e-commerce store with a custom integration which would allow for data to be transferred, shared, and analyzed effectively. For more information about how we can help you integrate with MYOB and better your e-commerce store, learn more about our services here and feel free to reach out to us at email@example.com. Thanks!