eCommerce Bookkeeping: Leveraging the Power of A2X
Business owners and leaders are usually quite familiar with the challenges of eCommerce bookkeeping. Several limitations and time-consuming inefficiencies exist in the manual processes of compiling sales data from online stores and accounting systems.
As a result, there was a need for a system that could automate eCommerce bookkeeping and make processes faster. The answer came in the form of the integration tool, A2X. But what is A2X, and why should you leverage its power to improve your eCommerce bookkeeping?
What Is A2X?
A2X is an integration app connecting your eCommerce sales channel and accounting software. It takes in settlement records and breaks them down into bits of journal summaries, making it easier to get accurate information. The sole focus of A2X is eCommerce accounting; simplifying the process and delivering concise results.
The software has existed since 2014 and is ideal for eCommerce businesses. A2X is compatible with the leading eCommerce platforms, including Shopify, Etsy, Amazon, Walmart, and eBay. It connects with top accounting software, like Xero, Quickbooks, and Sage and allows multi-channel sellers to operate more efficiently. The integration process is simple, and ultimately eliminates any bookkeeping guesswork.
What Challenge Does A2X Solve?
eCommerce businesses face many challenges selling online, especially those with high-volume transactions. An increasing sales volume is good for business, and with that success comes a greater amount of financial data to organize and analyze. A2X instantly imports clean summaries of every transaction. The result? More visibility, accuracy, and insight.
How Does A2X Automate eCommerce Accounting?
A2X converts payout data from Amazon, Shopify, eBay, Walmart, and Etsy into organized summaries in your accounting software. When data from your eCommerce store enters the accounting tool, A2X automatically groups it as sales, fees, refunds, or taxes.
Next, it aligns the summarized transactions with the accounting software payout deposits. By doing this, A2X lets you reconcile payouts quickly. You save time by automating cyclical, time-consuming tasks, and gain a more comprehensive and accurate record of your accounting books.
Why Should You Leverage the Power of A2X?
A2X is an excellent integration tool for organized, accessible, and accurate eCommerce bookkeeping. With A2X, you can instantly download your settlements and sort them by transaction date. You can also import and access historical sales data with the software.
With ease and accuracy, A2X provides both automation and structure to help you avoid some fairly common accounting mistakes. Being aware of DIY accounting missteps is simply the beginning, A2X can help avoid or correct them. Regularly maintain accurate sales data, and confidently forecast your financial future.
How MATAX Is Leveraging the Power of A2X
At MATAX, we are leveraging the power of A2X to help our clients integrate their eCommerce store with accounting softwares like Xero. The power of A2X was well demonstrated when a client came to us looking for a scalable solution for the increased sales they were experiencing and a need to reconcile large payouts faster.
We used the integration tool to facilitate sales data transfer between their Shopify store and Xero. Our clients experienced a seamless reconciliation of invoices and bank transactions. As a result, they understood their profitability and were better positioned for their next investment.
Your eCommerce Bookkeeping and Accounting Is Easier With MATAX
We collaborate with eCommerce businesses to set up accounting systems and handle basic financials. We will integrate A2X into your systems to improve your eCommerce accounting, provide more accurate financials, and yield more informed decisions.
Let’s work together. Schedule a consultation with us today!
