Shopify is constantly making improvements and financial reports have not been up to par!  One of the harder parts of running e-commerce business is getting the numbers right.  One of the most common questions we get as Shopify experts is how do I manage my accounting? Now we are not accountants so we can not really advise you on how to do the actual accounting, but we can give you some tools to help.

The program we recommend the most is Quickbook Online.  Shopify now seemlessly integrates with your Quickbooks online account.  You can learn more about how it works here.  We do know that this is a huge time saver at the end of the month!

The next tool you need is Google Analytics Enhanced E-commerce. The enhanced ecommerce plug-in for analytics.js enables the measurement of user interactions with products on ecommerce websites across the user’s shopping experience, including: product impressions, product clicks, viewing product details, adding a product to a shopping cart, initiating the checkout process, transactions, and refunds.”  Knowing this information while it may not help with traditional accounting will help you understand your reports.

Which brings me back to the improvements that Shopify is making.  Already released to the high level Shopify accounts and soon to be released to all Shopify accounts are the new and improved financial reports.  “The Shopify Finances Report gathers key financial information in one place. You can see a summary of your product sales and payments, as well as your account information including your invoice fees and Shopify Payments payouts.” This is great news for all of our clients big or small.  Getting your numbers in order at the end of the month, year or even day is going to get a whole lot easier! We are always available to help with any parts of your website set up.