Intuit Inc., the globally renowned tech platform that transformed the way businesses manage their bookkeeping and accounting operations, made a prominent announcement earlier in November 2023. Intuit revealed a suite of innovative e-commerce tools to empower small and mid-sized product-based businesses to enhance inventory management on QuickBooks Online. With a simple setup, seamless integration, and secured transactions, QuickBooks strengthens businesses to accelerate the shift from physical stores to digital methods.
In today’s transforming landscape, the digitalization of various services has changed the entire game for businesses of all sizes and verticals. With QuickBooks Online, you can now access all the tools and features that are extremely crucial to manage your e-commerce business effectively. So, the time has come to integrate QuickBooks with some of the best and most popular e-commerce apps.
Benefits of Using QuickBooks for Your E-Commerce Business
In an era where businesses operate across multiple sales channels, from in-person outlets to online platforms, the complexities of order fulfillment and inventory management can be overwhelming. QuickBooks Online strengthens e-commerce businesses by:
Boosting Financial Accuracy with QuickBooks for E-Commerce
QuickBooks for e-commerce fortifies businesses with robust solutions for financial management, inventory tracking, and other features to ensure precision and ease in handling day-to-day operations. Below are some of the exceptional features that can help your e-commerce business to grow flawlessly.
- Exceptional Compatibility: Seamless integration with some of the best e-commerce platforms such as Amazon, Shopify, eBay, WooCommerce, Squarespace, BigCommerce, and MailChimp, allows businesses to use QuickBooks most efficiently and productively. This exceptional compatibility helps streamline the flow of data between your online store and QuickBooks, reducing manual entry errors and saving time.
- Select Currency: There’s a reason why industry experts say that QuickBooks is an ideal platform for small and growing businesses. It doesn’t matter if you’re selling locally or internationally because QuickBooks provides a robust platform for emerging e-commerce businesses where they can accept and make payments in over 145 different currencies. Also, you can easily use the automatic exchange rate that is adjusted automatically in case of rate fluctuations and prepare invoices without facing any operational hassle. On top of this, this feature, combined with the ability to accept credit card payments directly on your website, allows for smooth, hassle-free international transactions.
- Inventory Management: In today’s competitive landscape, it has become extremely crucial for product-based, especially e-commerce businesses to stay aware of their inventory. QuickBooks for e-commerce players ensure that their inventory is accurately reflected in real-time across all your sales channels, preventing overselling or stock shortages. So, Stay updated on your stock levels with automatic inventory tracking, available with QuickBooks Online Plus*.
- Choose the Right: Powered by no payroll limits, unlimited support, and free guided setup, QuickBooks for e-commerce businesses provides a range of plans. To cater to their distinct needs, QB comes with 4 impressive plans for businesses of all sizes. These 4 plans are as follows:
- Simple Start -Ideal for solopreneurs and small businesses with simple requirements. You can choose Simple Start on either a monthly or annual basis. The monthly subscription cost ranges between $14 to $15, while the annual subscription cost lies between $156 to $157.
- Essentials– Well, this plan is ideally made for small and growing businesses with a decent number of suppliers. Just like Simple Start, you can choose from two different plans from Essentials. The cost for a monthly subscription is $22 to $23 while a yearly subscription comes at $243.
- Plus- This plan is ideal for companies that are not only dealing with suppliers on a regular basis but also managing various projects and stock as well. The Plus plan offers a cost-effective yet feature-rich option. Here, users can buy a monthly subscription plan for just $30 and an annual plan for $324 per year.
- Advanced- The advanced plan is for growing companies with an employee size of more than 5. For e-commerce businesses that require automation, customization, and ultimate control, the QuickBooks Online Advanced plan is the ideal solution. Users can buy this plan for $55 on a monthly and $594 on an annual basis.
- Hassle-Free Payment to Suppliers: QuickBooks for e-commerce allows for seamless supplier management and bill payments. Features available in QuickBooks Online Essentials and Plus let you efficiently track bills and expenses, simplifying the payment process and improving your cash flow management.
- Note – *Manage suppliers & bills is available with QuickBooks Online Essentials and Plus.
Conclusion
In conclusion, Intuit’s latest e-commerce innovations in QuickBooks Online are a game-changer for small businesses. By simplifying financial management, streamlining order processing, and offering deeper insights into sales data, these new features empower businesses to operate more efficiently and make informed decisions. Whether you’re an established online retailer or just starting out, QuickBooks Online’s robust tools and features allow you to focus on growing your business.
