How-To Guide: Seamlessly Integrate Shopify with QuickBooks
Integrating Shopify with QuickBooks. Step-by-step instructions using A2X
Good, accurate accounting is fundamental to the growth and compliance of any business. For small e-commerce sellers, crunching numbers, while essential, is one of those back-office admin tasks that chews up a lot of time and effort. For that main reason, e-commerce sellers often turn to third-party accounting software like QuickBooks to help them automate their business financials.
Lots of Shopify sellers currently use QuickBooks, and if you’ve stumbled across this article, we’re guessing you’re in that boat. This how-to guide has been put together to help you integrate your Shopify store and QuickBooks account. It also shows you how to elevate that function of your business by adding an accounting connector like A2X.
With little additional work, you can sync all three – Shopify, QuickBooks and A2X – and reap the benefits of increased efficiency and reliable financial data. It’s all about working smarter – not harder.
QuickBooks and Shopify
Let’s get started by connecting Shopify and QuickBooks. A few things to note before you start:
- QuickBooks will automatically sync all your Shopify orders and refund data, and they’ll show up as sales receipts. Each order will automatically include all items and taxes (including shipping).
- You can view a full summary of all your Shopify orders, their total value, product breakdown and profit margin.
- Your Shopify fees and pay-outs will automatically migrate into QuickBooks so you don’t miss an expense.
- Shopify orders are imported with all sales-tax data so you know what sales tax is owing.
Integrating Shopify with QuickBooks:
Work smarter, not harder you say – this is where to A2X is of real benefit. Think of Shopify and QuickBooks as two people on either side of a river, who can carefully hop rocks across to communicate with each other. Adding A2X is like building a bridge between the two so they can run, not hop.
A2X for Shopify will automatically export to QuickBooks a summary of all your Shopify transactions – sales, fees, refunds, other adjustments – and reconcile them against your Shopify payments in your bank account, so that you know everything has been accounted for accurately.
To connect A2X, Shopify and QuickBooks:
- A2X uses Google for account login and security, so the first thing you need to do is set up a Google login to A2X using your email.
- Go to a2xaccounting.com/shopify
- Click ‘Sign Up Free’
- Click ‘Sign in with Google’
- If you already have a Google login, don’t enter it here. Instead click ‘Create an account’ and click ‘Use my current email address’.
- You’ll be prompted to fill in your personal details, asked to agree to Google login terms – and then you’ll be ready to go!
- The next step is to connect A2X to your Shopify store.
- In your A2X account, click the green ‘Connect to Shopify’ button.
- Add your Shopify name when prompted and click ‘Connect’.
- You’ll be redirected to your Shopify store, asked to log in and grant A2X permission to connect – just like when you were connecting QuickBooks to Shopify.
- Once permission is granted, you’ll be redirected back to A2X and your first pay-outs will begin to import – it usually takes 10-20 minutes to populate your account. Larger Shopify stores can take several hours.
- Now you need to connect A2X to QuickBooks.
- This part is easy – when you sign up with A2X, you’ll be given an option to connect to your accounting software. Click ‘Connect Now’ with QuickBooks. Have your QuickBooks login in credentials handy.
- Follow the instructions on-screen to complete the connection, and when done, you’ll be redirected back to A2X.
- If you go to the ‘Connections’ section of your A2X dashboard, you’ll be able to see whether the connection has been successful.
- Lastly, you need to set up your accounts.
You can set up the account and tax mapping to your accounting software so imports will arrive already coded and ready to reconcile – saving you a lot of time.
The Accounts and Taxes feature allows you to map your Shopify pay-out transactions to your accounting system. It does this by accessing your Chart of Accounts, or by creating accounts specific to Shopify transactions directly from A2X in your accounting system.
- You can set the accounts that typical Shopify transactions will be coded to in the ‘Accounts and Taxes’ tab on your A2X dashboard.
- To choose your Chart of Accounts, access your accounts in QuickBooks by clicking the ‘x’ next to each account in A2X, and selecting from the drop-down menu.
- Click the ‘Save Mapping’ button at the bottom of the page so your account mapping will now apply to your pay-outs consistently.
Note: If you create new accounts in your accounting software after connecting A2X, you will need to refresh your Cache in ‘Settings and Connections’.
Match made in automated accounting heaven
Accounting is complex, no doubt about it. Add to that the complexities of e-commerce, the amount of financial data involved, as well as any inexperience you might have managing the financials of a business.
Here’s why, for Shopify e-commerce sellers, investing in an accounting connector is just as important as investing in good accounting software like QuickBooks.
Individual orders vs summarised
Importing individual orders into your QuickBooks account will clog up the system, make reconciling an all-consuming nightmare, and stunt your ability to scale your business. A2X generates summarised statements matched to each Shopify Pay-outs summary, ensuring accurate reconciliation each month.
Save time reconciling
Following on from accurate reconciling, don’t waste your time manually doing the task, when A2X can automate that process into a few button clicks – turning what took you hours into a few seconds. Why waste time and energy when you don’t have to?
This one’s a biggie. Think of A2X as a bridge, providing the way for all your stores data to file nicely into QuickBooks. This ensures your business has reliable and accurate financial data, essential to scaling your business effectively.
Benefits of accrual accounting
Without A2X, QuickBooks will import fully paid orders instead of importing transactions as they occur, whereas accrual accounting reflects that income and expenses generated in one month can carry over into the next month or even longer. You’ll have a much more accurate picture of overall cash flow for your business, information that will help you make informed business decisions, like when to develop a new product.
Automation that makes sense
Don’t waste any more precious time crunching numbers, especially when there’s an easier answer. First, integrate your Shopify store with your QuickBooks account to start importing your sales data. Streamline that process by adding A2X, and make your data work harder for you. It’s automation that makes sense – and will go a long way towards the success of your e-commerce business.
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