The A2X 2023 Product Roundup Webinar: Transforming Ecommerce Accounting Together

In 2023, A2X had a bustling year, introducing new features to simplify the increasingly complex world of ecommerce accounting. 

To ensure our customers hadn’t missed anything, we recently hosted a webinar highlighting some of the biggest updates of 2023. 

Missed it? Don’t worry. This blog recaps the key features and updates discussed in the webinar and offers a sneak peek at what’s in store for 2024. 

For a more in-depth experience, feel free to watch the video.

Let’s jump into the highlights!

State of Ecommerce Accounting in 2023

The webinar kicked off by shedding light on emerging trends in ecommerce accounting, gathered from data across our network of 12,000 businesses and accountants. In 2023, ecommerce complexity skyrocketed, driven by rapid innovation and market shifts. 

Here’s a snapshot of the key events that reshaped ecommerce accounting last year:

• The Amazon and Shopify partnership for “Buy With Prime” fragmented order visibility across platforms.
• Shopify’s evolution, mirroring a marketplace, particularly with innovations like Shop Cash, significantly altered settlement processes.
• TikTok’s foray into ecommerce, including its app developments with Shopify, added new layers to the accounting puzzle.
• The market saw notable exits like Returnly and adaptations such as Shopify’s Markets Pro to ease international selling.
• Amazon’s new selling partner API and the shift in support for Amazon Pay merchant accounts added to the mix.

This whirlwind of changes brought about fragmentation and complexity, making accurate accounting for sales and COGS more challenging. The data from A2X’s platform reflects this shift:

• The average Shopify account on A2X is linked to five unique payment gateways, a number that’s on the rise.
• Shopify apps saw a 247% increase since 2017, each bringing unique accounting challenges.
• On average, 1.6 sales channels are connected to each GL account in A2X, indicating a trend towards multi-channel operations.
• Amazon sellers grapple with a mix of referral fees, FBA fees, and advertising costs.

The bottom line? Accuracy in accounting is more crucial than ever for understanding financial flows, fees, and profitability.

Key Updates and Features

Our webinar highlighted several significant updates A2X rolled out to enhance user experience and streamline ecommerce accounting:

• Enhanced User Interface and Navigation: The revamp of A2X’s homepage and the introduction of a new sidebar navigation.
• Simplified Billing: A streamlined process for easier subscription management and consolidated charges.
• Partner Dashboard: Offering key insights to swiftly manage accounts. 
• COGS Enhancements: Integration with Google Sheets for improved COGS management. 
• Payment Gateway Support: Enhanced support for gateways like TikTok and Amazon’s Buy With Prime. 
• NetSuite Integration: Tailored for businesses seeking comprehensive features and automated reconciliation.

Upcoming Features

Exciting developments on the horizon include Amazon Summary Reports and Shopify Reconciliation Tools, aimed at further elevating accuracy and ease in managing ecommerce accounts. These new features will be released in the coming weeks, register for the webinars below to get a first look: