Simple Accounting For Your Shopify Store

You've started your Shopify store, the sales are starting to come in, you've got into a day-to-day routine and you seem to be on top of it all. Then comes the time when you need to update your accounts. 

Good accounting is often overlooked by Shopify store owners but it's both useful and important and using the right tools is essential. Whilst having a good accountant is almost always necessary, it makes sense to utilise tools to automate and simply the accounting process.

This is where Xero accounting software comes in. Xero provides online accounting software which will connect directly with your Shopify store.

Xero takes the mundane tasks that usually take hours to complete – and turns them into an efficient process that is completed for you in seconds - automatically. It will allow you to quickly understand your current profitability and cash flow position through easy to read dashboards. It will act as the central hub of all your accounting info and connect you with experts to help you make sense of your accounts. And as well as this Xero is completely cloud based so you can manage your accounts from anywhere.

Over 5-years it is estimate that only 51% of small businesses survive. However, if they’re on Xero, 88% survive! And that all comes down to the service and expertise Xero provides. 

The list below summarises some of the main features Xero will provide:

  • Overview dashboard with key data on your current financials
  • Manage and submit VAT reports directly to HMRC
  • Connect to your bank accounts
  • Automatic business performance charts
  • Complete invoicing system
  • Accept multi-currency payments
  • Inventory tracking
  • Expense and claims capture
  • Payment schedule and batch pay feature
  • Complete payroll system
  • Secure file storage
  • Connects with Amazon stores and offline POS systems
  • Mobile app
  • Unlimited support via email, phone and video

Xero can quickly become the hub of your business. it connects seamlessly with Shopify, allows you to manage your inventory, connects with marketplaces, and helps you keep on top of your tax and VAT returns. You can quickly view the health of your business anywhere, on any device, at any time. 

Xero pushed out 1400 updates to their software in the last 12 months so you can be assured that they are keeping on top of changes in the industry and making sure your business can run as efficiently as possible.

Getting started with Xero through Shopify is simple. You can use the Shopify built Xero app to instantly begin syncing your sales date with your Xero account. When you begin to see some success from your Shopify store, your time becomes one of your most valuable assets. So you should utilise software such as Xero to handle the tasks you don't have time for. Time is money. And Xero will save you both. 

You can get started with Xero for free and then plans start from just £7.50 per month. 

For further info on the Xero experience check out their blog and community.

Try Xero for free by following this link or clicking the image below.