Ecommerce Accounting

Accounting Integrations

Learn how to manage your billing and invoice processing and why you need automated accounting.

Why do you need accounting software?

As your e-commerce business grows, your finances will get more troublesome. All of the in-and-out money movements such as sales, returns, supplier payments, banking fees will need to report to the tax authorities after being appropriately categorized and analyzed. Without proper accounting systems in place, you can quickly get overwhelmed with all the financial data you are up against.When talking about keeping track of your accounting, everybody pretty much starts out on spreadsheets because it's easy and basically free. But there are other options that are actually better for your business because it has a double-entry bookkeeping element to it. In any case, if you are using a double-entry system, then you can make sure that the money that's going in and coming out is all accounted for when you are doing your business.

Here, we will look at some of the best accounting software for e-commerce currently available on the market and also include further options to consider, as you can opt for a specific expense, tracker apps, or even customer accounts.

What is Invoicing?

A typical business transaction involves two parties: a buyer and a seller. The seller provides goods or services to the buyer, and in return, they would like to get paid. Since the buyer owes money to the seller, the seller sends them an invoice that sets out all information to let the buyer know what they owe. For example, the buyer will get an itemized list of all the goods and services they’re paying for, and they know the terms of the transaction. After the buyer sends the money to the seller, the transaction is complete. Bills and Invoices relate to the document sent to the buyer to request the payment for the goods and services the seller has provided. Learn how invoicing affects your businesses.