There’s no denying that Excel is an incredibly useful and diverse tool for many things, including basic bookkeeping. Even with the multitude of apps and integrations out there, accountants still use it regularly for relatively simple tasks.
Ecommerce accounting, however, is no simple task. In order to run a resilient, profitable and tax-compliant business, you need to keep track of a host of different factors including:
By automatically recording this information in the right format, you can ensure everything is managed for you accurately, consistently and scalably for when all your hard work starts to fuel growth.
In this article we take a look at the key benefits of choosing A2X and how it can unlock the growth potential not just of your business, but of you as the business owner.
A2X was created to solve one problem for ecommerce sellers: to capture all the information about their sales transactions that they need. It does this automatically, on a settlement basis, so that all entries into your accounting software match the payouts received.
Bank deposits don’t tell you much about your transactions. One deposit could represent a multitude of steps: fees taken, reimbursements added, sales tax collected, warehousing charges - none of which you have at your fingertips. You would need to calculate these manually.
It’s easy to see how increased fees can be missed, refunds forgotten or inventory mix-ups this way.
A2X brings together the best accounting techniques for ecommerce selling. We understand the level of detail you need and how to best deliver that to your accounting software.
A2X downloads your transactional data, breaks down the lines you need that make up each deposit, then organizes sales based on when they occurred. This settlement accounting method gives you the ability to compare your performance monthly, view your cash flow dynamically and make more informed decisions about the growth of your business.
Accounting takes care of the lifeblood of your business - the money. Without a robust infrastructure in place to manage it properly, everything could collapse.
“Before we had to go [to] Reports in Amazon, pass it to [an] Excel spreadsheet, do the math and then classify the accounts in Xero, etc… all this process [took around] 2-3 hours, now with A2X it takes about 5-10 min. [It’s] magical. We are so happy that we found A2X.”
“This setup, along with a good online accounting software, can make your accounting work extremely easy and quick. Seriously, for the time I spent before doing journal entries, A2X is well worth the price. I currently use this software for all clients selling on Amazon.”
A major benefit of choosing A2X is that it’s designed for you to set and forget. Once you have mapped how it categorizes your transactions once, it will continually download orders, batch them, organize them and post them to your accounting software accordingly.
You set the rules and A2X ensures these are followed every time. You can also change these whenever you need to, with just a few clicks. No risky formulas, cells or copy-paste.
Using A2X won’t just save you time in setup and maintenance, but you will have the confidence of knowing it is always correct, working in the background to keep you up to date.
“The fact that A2X takes a task that would normally take 20-30 mins to complete and brings it to 5 mins or less, [lets] us and our clients concentrate on other tasks to grow our business.”
“...makes accounting easy, especially for those business owners who… don't know the ins-and-outs of ecommerce accounting. I have clients that use it and those that don't, and I can see the amazing reporting and time-saving value that A2X brings to the table.”
You know what software is really good at, that humans are not? Repetitive tasks. Accounting needs to be done well all the time to get it right, so if you’re unsure about it or don’t enjoy it too much, let the software do it for you!
Even if you love accounting and understand it thoroughly, A2X frees up your time to expand your skills and invest yourself elsewhere, safe in the knowledge that the software has your back. Whenever you need it, A2X can give you the accurate, reliable data you need to strategize the future of your business.
“This software is magical. What used to take my team hours to do each billing cycle, now takes a few seconds. Accounting for Amazon is a nightmare, but A2X turns it into a dream.”
“It's so nice to have confidence that our accounting is done correctly when using A2X with our Amazon sales. This has really been a lifesaver to us.”
Setting up A2X consists of a few simple steps. One: integrate with your accounting software. Two: integrate with your ecommerce platform. Three: set up your tax mapping. These are the basics to get going, with other features available for you to customize or enable as you choose (like, Cost of Goods Sold, for example).
We recommend seeking the help of an accountant or bookkeeper on an ongoing basis for your ecommerce business in general. If however, your resources are limited at this stage, it can be useful to get their advice for step three - tax mapping. The reason for this is it will determine how your financial records look and become your blueprint. Find help from our directory of trusted partners here.
We have skilled experts on hand to help you, located around the world. All experienced in ecommerce from a variety of backgrounds, they can tailor advice to your business goals, vision and growth.
“A2x always works. It provides accurate and detailed information for the settlement period. The team is always making improvements to their product. Tech support is super fast and knowledgeable.”
“The customer service to help with set up was amazing and once it's set up it saves me a ton of time and I barely have to do anything.”
Considering automating your business is a smart step, but you want to ensure that your systems will support your growth - both now and in the future.
Starting from just $19/month, A2X has pricing plans and structures to support a variety of business sizes and journeys. It allows you to start small and expand over time, scaling up with you seamlessly. You can also use it across multiple channels, so diversifying your portfolio is easier than ever.
“A2X is the only tool of its kind. Our whole accounting practice runs on this tool.”
“The software is crucial in our bookkeeping. It is well organized and makes our accounting much easier and automated. Excellent product and a must have for an ecommerce business!”