Leaders at Intuit note that the integration will let Shopify merchants automatically update and transfer accounting data, allowing business owners to focus on growing their business, not handling technology behind the scenes.
“Delivering a seamless integration between QuickBooks Online and Shopify makes it easy for businesses to automatically reconcile sales data,” said Avi Golan, vice president and general manager of the Intuit Development Group. “This is the latest example of how we’ve turned QuickBooks Online into the world’s leading small-business cloud platform, delivering an ecosystem of integrated tools and services.
“We want to empower business owners to spend less time balancing the books and more time focused on what they love about running their business.”
Integration highlights include:
- Connected data updates – Gets rid of the need for manual reconciliation of sales deposits, bank fees and sales tax. Ecommerce transactions, including sales and refunds, flow into QuickBooks Online with no extra work needed.
- Sales transaction accuracy – Aggregates sales data into QuickBooks Online, giving business owners a more accurate picture of finances and eliminating data entry errors.
- Business performance insights: QuickBooks Online users get an up-to-date view of business performance. It allows them to generate reports, such as profit and loss, and cash flow and balance sheets with the click of a button.
The partnership makes Shopify the preferred commerce provider for existing and new Intuit clients.
“We are excited to be partnering with QuickBooks to provide the tools and resources needed for small- and medium-sized businesses to efficiently handle all of their accounting needs,” said Harley Finkelstein, chief platform officer at Shopify. “Many of our merchants are not necessarily experts in bookkeeping.
“That is why the integration is so important to the success of their businesses. It’s seamless, efficient and simple, allowing them to focus on their stores.”
Priority access to QuickBooks Online powered by Shopify will be offered to Shopify’s 150,000-plus merchants, who sell items online, in retail locations and on the go.
QuickBooks payments will be able to be used by new and existing Shopify merchants. The QuickBooks Online integration is slated to be available within the next few months.
For updates on the integration and to register for early access, go to www.shopify.com/quickbooks.
Intuit is known for creating business and financial management solutions that help simplify matters for small-businesses owners, consumers and accounting professionals.
Its products and services include QuickBooks, Quicken and TurboTax, tools for small businesses to use for payroll processing, personal finance and tax preparation.
Intuit’s Mint.com offers money management. Demandforce provides marketing and communication tools for small businesses. ProSeries and Lacerte are Intuit tax preparation offerings for accountants.
The company was founded in 1983 and had revenue of $4.5 billion in fiscal year 2014. The company has about 8,000 employees with offices in the United States, Canada, the United Kingdom and India.
Shopify offers an online storefront, a credit-card payment option, a point-of-sale system and a card reader to process credit cards through a mobile phone. It has clients in 150 countries, including Tesla Motors, Budweiser, Google, Wikipedia, the Los Angeles Lakers and the Sundance Film Festival.
Sansone Accounting & Tax is a provider of accounting and QuickBooks services. Sansone is known for guiding clients through planning and preparation decisions to minimize tax liabilities and help increase business efficiency. Whether it is questions about QuickBooks or new business taxes, the firm prides itself on being available to play a major role in supporting financial, record-keeping and tax-planning issues. To schedule an appointment with one of Sansone’s certified public accountants, call (815) 459-4300.