Managing finances for an online store may be complex. With Shopify integrated with Xero, it gets simpler. The duo allows easy automation and accurate reporting. Connect Xero and the Shopify app, you can enhance your accounting efficiency. This combination frees you up to build your business.
Why use Shopify with Xero?
Xero and Shopify integration gives significant advantages to your online store. These are the top seven reasons why you should employ the integration:
● Automated Data Synchronization for Simplified Reconciliation
The integration syncs sales transactions from Shopify to Xero daily. You receive a summary of your Shopify sales orders for various payment gateways. This keeps your financial records updated without manual input. It also simplifies reconciling Shopify payouts, fees, and refunds. As a result, you gain clear visibility into cash flow and business performance.
● Less Manual Work
The automation excludes the drudgery of manual typing. This reduces hours of painstaking work and potential mistakes, allowing your employees to focus on strategy instead.
● Accurate Financial Records
The integration ensures your financial data is accurate and current. This precision supports informed decisions and effective management.
● Unimpeded Visibility of Sales and Fees
Xero provides you with daily insight into your Shopify charges and sales. The visibility allows you to track revenue and expenses, which improves budgeting and forecasting.
● Effective Accounting Processes
Integration makes accounting processes easier. It’s easy to monitor refunds, discounts, and sales. This makes it easy to manage finances.
● Overall Reporting and Insights
Xero offers good reporting capabilities. They allow you to analyze sales figures and see how the business is performing. You get valuable insights for growth and strategy.