Best accounting software for ecommerce store?

29 replies
  • ECOMMERCE
  • |
Hello WF community,

I wanted to get feedback from the community on what is the best accounting software/apps for your ecommerce store?

Couple notes:

We run a store that relies on dropshipping and wholesale orders
Love if there is an app to tie in our bigcommerce store with the software
Anything that helps with invoicing vendors that currently have net 30/consignment terms with us

Any feedback is appreciated.

Warmest Regards,

Ryan
#accounting #ecommerce #software #store
  • Profile picture of the author serpyre
    Honestly, Excel, you would be surprised how many $multi-million companies run on it. You have things like Sage & Quickbooks but as always it is the integration and sync. Sage have a BigCommerce connector (Accounting | Bigcommerce) but the best is to keep it as simple as possible and run from Excel. Is the nMinutes per day offset by the weeks or months of implementation. Normally you are looking at a multi-year return on investment, but as always, it depends on the context of your circumstances.
    {{ DiscussionBoard.errors[9366439].message }}
    • Profile picture of the author dburk
      Hi Ryan,

      As serpyre suggested, you can do it in Excel or Google Spreadsheets, however I wouldn't recommend it. It is true that there are many small businesses that use nothing but Excel, but it is also true that nearly all of those companies at some point will have a catastrophic data loss/corruption due to their reliance on storing data in a spreadsheet.

      Spreadsheets are designed for performing What If Analysis and are excellent tools for manipulating data, and that is exactly why they do not make for a good data storage application. Your data's integrity will be at constant risk if you use a spreadsheet application for data storage.

      For the most part, any accounting application that you can integrate with your web store will work for your purposes. You already need to do accounting, why not use tools that are designed for this exact purpose?

      Accounting | Bigcommerce
      {{ DiscussionBoard.errors[9366977].message }}
      • Profile picture of the author lancejm
        Hi Ryan,
        Agiliron is a web based software that downloads your transactions from your store into Quickbooks.

        Regards,

        Lance
        {{ DiscussionBoard.errors[9382347].message }}
        • Profile picture of the author stevetm001
          Hi Ryan..,

          I agree with dburk on most of what he say's, but I have to disagree with "they do not make for a good data storage application", yes they do... *Any* software which holds / stores your information locally can become corrupt, but if you do regular backups etc.. you can save yourself some pain.

          I have been using spreadsheets since lotus 123 v2.01 back in 1986? (ish - please don't hold me to the date lol) and I can't remember the last time a spreadsheet became corrupt other than due to power failure and that has the potential to corrupt any locally stored information.

          So if a spreadsheet fits your purpose, go for it.

          Hope this helps

          Regards

          Steve
          Signature

          If you always do what you've always done, you always get what you've always got!

          WF UK e-commerce mastermind group

          Help with web site setup. Web site hosting with un-metered traffic and space. Most popular CMS one-click installs including Wordpress, Joomla, Drupal, Opencart, Zen Cart etc...

          {{ DiscussionBoard.errors[9384118].message }}
  • Profile picture of the author Sara H
    Hi Ryan,
    I know that there are many accounting software/apps in the market but need to check which one is actually useful for you. I suggest you rather than purchasing these software, to built it as per your need and easy accessibility.
    {{ DiscussionBoard.errors[9415834].message }}
  • Profile picture of the author JamesStanley
    I would like to suggest you some best accounting software that will help you for doing online business and small businesses, these softwares are like Ability Commerce, Big Commerce, Intuit Ecommerce, shopify, vendio are some best softwares for small businesses.
    {{ DiscussionBoard.errors[9424520].message }}
  • Profile picture of the author Solid Commerce
    Quickbooks is definitely one of the most trusted solutions on the market. I'd give it a look - it integrates with a lot of the major shopping cart providers, and any third-party solutions that you might want to use.

    For example, if you're looking to sync your inventory across multiple marketplaces and webstores, you might have an accounting nightmare on your hands.

    But if you're using Solid Commerce, you can easily integrate with QuickBooks and/or QuickBooks POS.

    And we're definitely not the only solution that will work with QuickBooks. It's a great product for a number of reasons.

    Good luck!!
    Signature

    _ Sean B.
    Solid Commerce

    {{ DiscussionBoard.errors[9431772].message }}
  • Profile picture of the author Anton Louis
    Originally Posted by CavemanEvo View Post

    Hello WF community,

    I wanted to get feedback from the community on what is the best accounting software/apps for your ecommerce store?

    Couple notes:

    We run a store that relies on dropshipping and wholesale orders
    Love if there is an app to tie in our bigcommerce store with the software
    Anything that helps with invoicing vendors that currently have net 30/consignment terms with us

    Any feedback is appreciated.

    Warmest Regards,

    Ryan
    Google spreadsheets for keeping track of NET per order + send your account checking account statement + CC statement each month and have them do most of the work
    {{ DiscussionBoard.errors[9431777].message }}
  • Originally Posted by CavemanEvo View Post

    Hello WF community,

    I wanted to get feedback from the community on what is the best accounting software/apps for your ecommerce store?

    Couple notes:

    We run a store that relies on dropshipping and wholesale orders
    Love if there is an app to tie in our bigcommerce store with the software
    Anything that helps with invoicing vendors that currently have net 30/consignment terms with us

    Any feedback is appreciated.

    Warmest Regards,

    Ryan
    QuickBooks online is good
    {{ DiscussionBoard.errors[9599602].message }}
  • Profile picture of the author LABEShops
    Any software would work really. I would make a list of what data you really need to record and then find the best way to keep it.

    Check with an accountant for the requirements of your local area - you want to make sure you have everything you need in the worst case scenario - an audit. I worked for a company once that was audited for sale tax and even though they used Quickbooks, because a prior employee failed to record what was sold on each invoice and just listed them as "sales", they were fined. What info would the IRS want to see if they audited you? What local tax authorities might you need to provide data to? A local CPA or tax consultant is your best source of information when it comes to that.

    The other thing to take into account is what reports do you want to see to better run your business. Do you need to know your top sellers every month? Then be sure to use something that records product details. Do you need profit and loss figures? Make sure there is a report set up for that. and that your software records costs. Do you need to track inventory? Does your ecommerce platform have reports? If so, you might need as many in your bookkeeping solution.

    Personally, I've used Quickbooks since it first came out as Quicken so know it back and forwards, though only need about 1/10th of what it can do. If I were setting up a new company, I might go with something simplier like Fresh books or other simple accounting package.
    Signature

    Owner of LABEShops.com & 20+ Niche Online Stores as well as Scifispace.com and other sites. Recommended Host: Evolve

    {{ DiscussionBoard.errors[9658734].message }}
  • Profile picture of the author mark999
    Go with Xero. It's the big breakthrough in cloud accounting for small business. There are many outsourcers available for Xero users so you can source that for a couple of hundred dollars or less depending on your volume. QuickBooks is dated in my opinion.
    {{ DiscussionBoard.errors[9660237].message }}
  • Profile picture of the author SergioMedeiros
    If you are looking for a paid account solution I would suggest NetSuite.
    {{ DiscussionBoard.errors[9660856].message }}
  • Profile picture of the author DonaldRivers
    [DELETED]
    {{ DiscussionBoard.errors[9666558].message }}
    • Profile picture of the author karlsanford
      Originally Posted by serpyre View Post

      Honestly, Excel, you would be surprised how many -million companies run on it. You have things like Sage & Quickbooks but as always it is the integration and sync. Sage have a BigCommerce connector (Accounting | Bigcommerce) but the best is to keep it as simple as possible and run from Excel. Is the nMinutes per day offset by the weeks or months of implementation. Normally you are looking at a multi-year return on investment, but as always, it depends on the context of your circumstances.
      Originally Posted by Sara H View Post

      Hi Ryan,
      I know that there are many accounting software/apps in the market but need to check which one is actually useful for you. I suggest you rather than purchasing these software, to built it as per your need and easy accessibility.
      Originally Posted by stevetm001 View Post

      Hi Ryan..,

      I agree with dburk on most of what he say's, but I have to disagree with "they do not make for a good data storage application", yes they do... *Any* software which holds / stores your information locally can become corrupt, but if you do regular backups etc.. you can save yourself some pain.

      I have been using spreadsheets since lotus 123 v2.01 back in 1986? (ish - please don't hold me to the date lol) and I can't remember the last time a spreadsheet became corrupt other than due to power failure and that has the potential to corrupt any locally stored information.

      So if a spreadsheet fits your purpose, go for it.

      Hope this helps

      Regards

      Steve
      Forget for a moment that you have an online business and just pretend you have a standard business. You need ACCOUNTING software, not spreadsheets, not word docs. I am curious if some of the people replying to your question have ever heard of the IRS or Sales Tax. Regardless of the size of your business you have some responsibility on this front. I wouldn't recommend adding up COGS or calculation accelerated depreciation on a napkin either.

      To answer your question, it appears there are OOTB integrations for quickbooks (zapstitch for example). Quickbooks is very proven, affordable and most to all CPAs are familiar with it. Generally look for native and or prebuilt integrations and avoid advice from marketing forums.

      ps. In response to Sara H, never consider developing your own accounting software unless you have a PhD or equivalent.
      {{ DiscussionBoard.errors[9796264].message }}
      • Profile picture of the author Trinipirate
        last year I used Wave, which was free and good BTW.
        This yr I'm using Godaddy bookeeping. It syncs with amazon, paypal, shopify etc. Helps you easily prepare your taxes also.
        {{ DiscussionBoard.errors[9797931].message }}
  • Profile picture of the author davidclarkny
    I am using Front Accounting, it 's PHP free opensource and more than enough to handle a average company online.
    {{ DiscussionBoard.errors[9805092].message }}
  • Profile picture of the author agmccall
    I use the one my accountant uses which is quickbooks. After using it for a while now, I would probably use it anyway.

    al
    Signature

    Broken promises don't upset me. I just think, why did they believe me?
    ~Jack Handey~

    {{ DiscussionBoard.errors[9805893].message }}
  • Profile picture of the author Big Kahuna SEO
    Another vote for Quickbooks but with a twist.... You can use QB and integrate it with your store using a product like T-Hub. I use T-hub and QB with my Volusion store and it is a huge time saver!!
    {{ DiscussionBoard.errors[9812256].message }}
  • Profile picture of the author davidpham
    For ecommerce accounting, you should install the account extension for your ecommerce website, it will help you make everything systemize.
    {{ DiscussionBoard.errors[9812266].message }}
  • Profile picture of the author ACGroup1
    I highly recommend Xero for your accounting. Better than quickbooks and less costly
    Signature

    Warrior Deals on Fireplaces, Patio Heaters, or Gas Grills and more at HousewarmingHQ.com Contact me for Coupon codes

    {{ DiscussionBoard.errors[9818238].message }}
  • Profile picture of the author NewParadigm
    excel is a terrible idea! unless you are really small and a wiz at it. excel is a tool, not a system/application. It's like having a pile of wood, shingles, hammer, nails and building your own house vs. already having the structure built and you just putting your furniture in it.

    additionally, when growing, its easier to plug in people or outsource maintenance/upkeep in a legit system vs relying on some specialized person knowing how your secret excel contraption works. Plus silos of info etc...
    Signature

    In a moment of decision the best thing you can do is the right thing. The worst thing you can do is nothing. ~ Theodore Roosevelt

    {{ DiscussionBoard.errors[9837121].message }}
    • Profile picture of the author BharatiMak
      Frankly, it is a terrible idea to consider Excel for accounting for your ecommerce store. Accounting software like QuickBooks is more suited and well-armed to handle the requirements of an ecommerce store. Heck, excel is not even meant for accounting! It has to be programmed to act as an accounting tool.

      QuickBooks saves you time and provides many other additional advantages over Excel. All this for only a few extra cents! (I know you must be wondering how that's the case! Here's how - Why Excel is Not Good for Your E-Commerce Store)

      About your concern over whether QuickBooks can be tied to your Bigcommerce, it's definitely possible. Check out bigcommerce add ons/apps in the accounting category.

      Good luck.
      {{ DiscussionBoard.errors[10429098].message }}
  • Profile picture of the author IMBookkeeper
    I have 2 questions for you - can you get your taxes done? Do you know the value of your business?

    I do agree that an actual accounting software product like QuickBooks offers many advantages over Excel. But that doesn't mean that QuickBooks is always the answer. There are many accounting software options for every budget and skill level.

    In the end, the choice should be based upon your needs and goals. I have worked for many businesses in non-profit and for-profit niches. I can't tell you how many times I have worked with business owners that ran their business on a series of Excel worksheets.
    {{ DiscussionBoard.errors[10469733].message }}
  • Profile picture of the author swamuluk
    Here the list follows
    1. XERO
    2. Intuit QuickBooks
    3. BizFusion
    4. Unify by Webigility
    Signature
    {{ DiscussionBoard.errors[10470275].message }}
    • Profile picture of the author jhill247
      Depending on your size, Quickbooks or just plain Excel.
      {{ DiscussionBoard.errors[10486806].message }}
  • Profile picture of the author harryvent
    One of my friends starts business, for account management purposes using Apptivo. They share something about accounts management experience. Within that, I suggest that software.
    {{ DiscussionBoard.errors[10689614].message }}
    • Profile picture of the author shrivatsa
      one of the best accounting software is Averiware. It is cloud based accounting software for small & Mid size. Its providing trail version also. If interested grab the opportunity friends.
      Signature

      Saas / Cloud based ERP and Accounting for small and midsize businesses

      http://averiware.com/

      {{ DiscussionBoard.errors[10692007].message }}
  • Profile picture of the author Al amin
    Excel is ok. But you can try FreshBooks.
    {{ DiscussionBoard.errors[10692456].message }}
  • Profile picture of the author aditit
    It really depends on your business needs and budget. But having a full-featured accounting software such as QuickBooks is the ideal choice because it gives you better integration, flexibility and scalability. Also you have the option to choose a variety of versions such as QuickBooks Online, Desktop and Quickbooks Hosting that best fit to your e-commerce store.
    Signature

    Working at Ace Cloud Hosting, authorized reseller and QuickBooks Cloud Hosting Provider

    {{ DiscussionBoard.errors[10779481].message }}
  • Profile picture of the author Monatank
    QuickBooks is the best project management and accounting tools which enable access to real time financial status. Using QuickBooks you can generate invoices and do payments with your convinient payment gateway (i.e. PayPal).
    {{ DiscussionBoard.errors[10803347].message }}

Trending Topics