Business

How to manage your e-commerce business’s accounts over multiple sales channels

Many small e-commerce businesses today sell their products through various online sales channels at the same time, for example on Amazon, eBay, Etsy, or Shopify, to name a few. It’s a smart way to grow your business rapidly and reach the widest possible market.

Accounting is always an integral part of business management, but with sales coming in from so many different platforms it can also present some new challenges. The accounting automation software, Synder, has made it its mission to help e-commerce businesses with precisely these challenges and successfully manage their accounting.

Link all your accounting programs together

By using Synder, small e-commerce businesses have now been able to link up their accounting programs, such as Quickbooks and Xero, to all of their sales and payment channels (Stripe, Square, PayPal, GoCardless, Pin Payments, IntegraPay, etc.). Synder automatically imports a business’s transactions into their books, synchronising the payments in real-time but also providing the option to import all historical transactions as well.

For many business owners who had been struggling to keep up with manually accounting for the thousands of sales coming in from left right and center, Synder proved itself to be the perfect consolidation solution. Even for businesses that don’t have quite as many online sales yet, those who sign up to Synder are ready for the explosive growth that online shopping is experiencing, putting them at an advantage over their competitors.

Create and send invoices with a direct payment link

As well as payments from popular e-commerce systems, businesses also have to manage invoices. Using Synder’s invoicing feature, business owners are able to create and send invoices with a direct payment link which customers can pay right away.

The payment link feature has shown itself to be especially profitable, as businesses can paste it directly to their website, Instagram, or any other social media, transforming any page into a convenient one-click checkout.

Accurate, automatic reconciliation

One of the main challenges for e-commerce businesses is accurate reconciliation. Synder takes care of this by making reconciliation automatic and not only easy but also completely accurate.

In addition, this provides businesses access to any financial statements they need, in complete detail, and for many, it has helped them be ready and prepared to easily file their tax returns.

A multi-currency management feature

Another common problem e-commerce businesses face is dealing with transactions that are in multiple different currencies. One of Synder’s many helpful functionalities is its excellent multi-currency management feature, which automatically calculates the conversion using official bank exchange rates and correctly records the payments in the accounting system.

Join thousands of other e-commerce businesses and give this all-in-one solution a try today, for free. Book a free demo of Synder or start a free trial by heading to synderapp.com.

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