Intuit Australia is set to deliver a seamless integration between its leading QuickBooks Online cloud accounting software and Shopify, a popular ecommerce platform that allows anyone to sell online, at their retail location and everywhere in between.
This initiative will allow Shopify merchants to automatically update and transfer accounting data, freeing time for company owners to focus on growing their business, not managing the technology behind it.
Managing Director of Intuit Australia, Nicolette Maury, said although the Australian launch date is yet to be confirmed, the announcement is the latest example of how Intuit has turned QuickBooks Online into the world’s leading small business cloud platform, providing an ecosystem of integrated tools and services.
“Delivering the integration between QuickBooks Online and Shopify is all about removing a major pain point for businesses that operate online by automatically reconciling sales data. We want to empower users to spend less time balancing the books and more time focused on what they love about running their business,” said Maury.
Highlights of the integration include:
• Seamless Data Updates: The integration will eliminate the need for manual reconciliation of sales deposits, bank fees and sales tax. All ecommerce transactions, including sales and refunds, flow into QuickBooks Online with no extra work required.
• Improved Sales Transaction Accuracy: As sales data is automatically aggregated into QuickBooks Online, business owners will have a more accurate picture of their finances and any data entry errors will be eliminated.
• Better Business Performance Insights: The integration means QuickBooks Online has an always up-to-date view of business performance, and business owners can generate key reports, such as profit and loss, cash flow and their balance sheet at the click of a button.
Through the partnership, Shopify has been selected as a preferred commerce provider for existing and new Intuit customers.
“In the last year, online spending by Australians increased by nine per cent on the previous year and totaled a huge $16.6 billion*. This shows just how dynamic the online retail space is and we know it spans businesses of all sizes. We are proud to be working with Shopify to reduce the time online merchants spend on administration and help make the accounting process more seamless,” said Maury.
Harley Finkelstein, Chief Platform Officer at Shopify, said the company is excited to be working with Intuit to provide the resources businesses need to efficiently handle their accounting.
“Many of our merchants are not necessarily experts at bookkeeping. That is why this integration is so important to the success of their businesses. It’s seamless, efficient and simple.”
Priority access to QuickBooks Online powered by Shopify will be available to the company’s current merchants who sell online, in physical retail locations and on the go. More updates on the integration and registration for early access is available via shopify.com/quickbooks.
*Note to Editors
Statistics cited are from the recent NAB Online Retail Sales Index – January 2015.