A2X for Walmart Launch | Seamlessly Automate your Walmart Accounting with A2X
Estimated reading time: 8 minutes.
Today is an exciting day for everyone here at A2X. That’s because today, we are thrilled to announce the launch of A2X for Walmart.
While Walmart has traditionally been a big box retailer operating megastores throughout the world, they recently entered the online shopping industry in a big way - by creating the Walmart Marketplace and acquiring a number of smaller online shopping platforms to fuel their growth.
If you’re selling on Walmart, or planning to sign up in the near future, then you’ll be pleased to know that A2X for Walmart is here to take the hassle out of ecommerce accounting.
This article is designed to provide an overview of the opportunity that selling on Walmart presents, and to point you in the right direction for getting started. Read on to discover:
- The benefits of selling on Walmart - why so many Amazon and Shopify sellers are getting onboard.
- How to start your store on Walmart.
- The benefits of using A2X for Walmart to automate your accounting.
- Setting up A2X for Walmart - useful information and links.
- Special offers to help you hit the ground running.
The benefits of selling on Walmart - why so many Amazon and Shopify sellers are getting onboard
Whenever we look at Walmart, the first thing that comes to mind is ‘extreme economies of scale’. The numbers speak for themselves:
- There is a Walmart store within 10 miles of 90% of people in the United States.
- Including their presence in America, Walmart operates more than 11,000 stores in 27 countries around the world.
- They sell 75 million different products from 100,000+ suppliers.
- Which are purchased by 275 million customers weekly.
- And the company supports 2.2 million employees, of which approximately 1.5 million are located in the United States.
That’s not bad for a business that started as a small ‘mom and pop store’ in Arkansas almost 60 years ago. But these figures don’t tell us much about the other half of the retail landscape - ecommerce.
Walmart has been slow to establish their presence in the online shopping space, but they are now catching up to leading players like Amazon - and fast. While Walmart only made up 6% of US online consumer goods sales in 2019, it’s only a matter of time before they become a serious contender.
With a loyal customer base, a trustworthy brand and global resources that dwarf many nations, the real question is: are you going to seize the opportunity to sell on Walmart or let it slip?
Here are some of the top benefits of selling on Walmart Marketplace:
- No monthly fees - unlike selling on Amazon or hosting your own website, you only pay commissions when you make sales.
- Low competition - no matter where you sell, you’re almost always going to be up against competitors. That’s part of the allure of selling on marketplaces - it attracts motivated buyers. With Walmart however, there is less competition than other leading marketplaces.
- Intuitive seller interface - when you open your Walmart seller account, you’ll notice lots of similarities between Walmart and Amazon (Seller Central is called Seller Center, Amazon Prime is replaced by Walmart+, and whoever wins the buy box gets most sales, just to name a few).
- Easier to win the buy box - unlike Amazon’s buy box algorithm which takes a wide range of variables into account, the Walmart buy box algorithm is much more heavily weighted towards the lowest price and highest stock levels winning the pie.
- Reach new audiences - while there is always going to be crossover between the consumers that shop on various marketplaces, by listing your products for sale on Walmart, you can reach a new set of eyes and introduce your offerings to more people.
- Establish trust in your brand - Walmart is a trusted brand, and by extension, the sellers that compete on Walmart’s marketplace benefit from this hard earned trust.
How to start your store on Walmart
While anyone can apply to sell on Walmart, they prefer to work with established brands, and you need to have a presence in America to join.
“You must have your business registered in the US and also have a US address for your warehouses.”
This doesn’t mean that you need to live in America, but you do need to have an economic connection to the United States to get started.
If you’re thinking about selling on Walmart, but don’t yet have an ecommerce business, you’ll be better served focusing your efforts elsewhere in the beginning.
For more info about getting started on Shopify or selling on Amazon, check out these guides:
Steps to sell on Walmart
So you’ve got an established brand with a proven track record, stock ready to ship and a good reputation. Great!
Here’s a brief overview of what you need to do to sell on Walmart:
- Fill out the application to sell and tell Walmart more about what you have to offer.
- If you’re a suitable fit, Walmart will provide a supplier agreement for you to sign that outlines the terms of supplying their customers.
- To complete your seller profile, you’ll need to provide necessary information such as where payments should be sent to, enter your shipping details and complete a W-9 tax form.
- Getting your products set up on Walmart involves either manually listing them for sale, or integrating your existing online store to automatically bring the details onto Walmart.
- After you’ve successfully uploaded your products and Walmart has reviewed your information, you can then go live and start selling!
Skip the crowd: get expedited approval to sell
To celebrate the launch of our new integration and to help our community take advantage of this ripe opportunity, we have teamed up with Walmart to help you get ahead of the crowds.
For expedited approval, just click here and apply as you normally would otherwise.
The benefits of using A2X for Walmart to automate your accounting
“I absolutely love spending hours manually reconciling sales with settlements in my accounting system and not being able to accurately know how my company is performing financially.”
- Said nobody, ever.
Until recently, there was no easy way to connect your cloud accounting system to Walmart Seller Center and automate the manual data entry with precision. That’s why we designed A2X for Walmart - to solve this problem.
While there are many reasons why you would want to use settlement accounting for your ecommerce financials, here are the main benefits of using A2X for Walmart:
- Save time - reduce the amount of time it takes to reconcile each settlement from hours to just a few clicks.
- Make informed decisions - by using A2X, you are able to remove the potential for human error when entering transaction data into your accounting system. The result: precise financials, 100% of the time.
- Clean accounts - rather than entering every sale as a separate invoice or journal, A2X categorizes all your transactions in tidy summaries that match your Walmart Payments, down to the cent.
- Set and forget - A2X is designed to scale with your business. Set it up once, and count the cheques as you grow.
Accounting systems are a fundamental part of any business, so you want to know that you can rely on your numbers - both now and in the future.
Setting up A2X for Walmart - useful information and links
Once you’ve got your Walmart Marketplace seller account all set up and generating sales, the next logical step is connecting it to your accounting system.
Here’s how to get started with A2X for Walmart (click on the links below for more details on each step):
- Create an A2X for Walmart account by heading to a2xaccounting.com/walmart and following the registration process.
- Connect your A2X account to Walmart.
- Connect A2X to your accounting system so that you can post the financial data. A2X works best with Xero and QuickBooks Online.
- Set up your account and tax mapping so that A2X knows where to post your information when settlements come through. More info here.
- Test the waters - send your first A2X invoice or journal to your accounting system.
- Once you’re happy with how A2X for Walmart works, select the right subscription for your business. You can find more info on our pricing here.
- Enable cost of goods sold reporting to accurately track your profitability.
Once you have completed these 7 steps, A2X is all ready to go - from here, you can configure it to automatically import transactions, or manually bring settlement data in at your command
Special offers to help you hit the ground running
Who doesn’t like the VIP treatment? To celebrate the launch of A2X for Walmart, we have two special offers to make it even easier for you to get started:
- As previously mentioned, we have teamed up with Walmart to help A2X customers get set up. Click here to start your expedited marketplace application.
- For the first 3 months following the launch of A2X for Walmart, we are offering it to you at half price. To take advantage of this offer, simply head to a2xaccounting.com/walmart and follow the prompts.
2020 and beyond: taking ecommerce to the next level
There’s no denying that this year has been far from ordinary, and while many negative events have impacted the world, the ecommerce industry has gone from strength to strength as many companies are rapidly moving online.
As we move forward, the stats paint a clear picture: ecommerce is here to stay, and opportunities are plentiful for those with growth aspirations.
If you want to keep on the leading edge of ecommerce accounting, stay tuned - our blog is about to undergo some major changes to help nurture your success.
- Walmart vs. Amazon: the changing landscape for ecommerce Sellers.
- Why more sellers are diversifying away from Amazon.
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