If your business is equipped with accounting software, you already know about its time-saving tools and features that facilitate everything from income- and expense-tracking to invoicing and project management.
To get even more out of your accounting solution, be sure to check out the many applications and tools that seamlessly integrate into many of the more advanced accounting software systems.
Robust business apps and accounting software work together to help your organization run more efficiently and accurately, saving you hours of work and countless headaches.
They build upon your strong accounting system to deliver increased insights and data that can enhance your productivity and profits across the board. Let’s take a look at all you could do.
Connect to sales channels
Elevate your e-commerce business. Accounting software can connect to your sales channels, such as Amazon, eBay, Shopify, and more, so you can:
- Automate importation of orders and payouts, eliminating the need for manual data entry and improving accuracy.
- Get up-to-date views of your income and expenses.
- Match payouts with bank deposits.
- Simplify payout tracking by splitting it into summarized sales receipts, refund receipts, and expenses to record fees.
- Oversee your income and expenses in one place.
- View profitability trends at a glance.
- Track inventory and manage purchase orders.
Compile data and details for your books
Bookkeeping is made easier when you sync your accounting software with apps like Amazon Business Purchases, PayPal, Square, Etsy, and others. Depending on the app, you may be able to:
- Track, import, edit, categorize, and match transactions
- Track fees separately in their own expense account
- View expenses with product descriptions, item costs, and fee breakdowns
- Capture customer information
- Sync sales data automatically, capturing line-level details such as shipping, tax, items sold, and discounts.
- Manage inventory, track time, and run analytics automatically
E-commerce management and tracking
Sync your accounting software with leading online commerce platforms—including B2C, B2B, and wholesale platforms—and simplify your financial recordkeeping. While features vary by app, capabilities may include:
- Aggregating sales revenue, fees, and other transaction data
- Consolidating data from multiple e-commerce platforms and generating comprehensive reports on cash flow, expenses, profit and loss, and more
- Facilitating accurate sales tax management
Each e-commerce platform has its nuances, and some are more complex than others. Integrating accounting software with platform-specific apps and tools can help you streamline your business operations so you can get more done in less time.
Inventory management
No matter your industry, accounting software can connect with the apps you use every day to help track and manage your inventory. Keep tabs on in-stock quantities, their status, and location, as well as get help with:
- Tracking inventory SKUs and quantities
- Asset management
- Inventory forecasting
- Adding to and restocking inventory
With everything working together automatically, you can eliminate the need for manual data entry and reduce errors. Get immediate insights that you can respond to quickly. Some popular apps that are often used in conjunction with accounting software include:
- SOS Inventory
- WooCommerce Automatic Real-Time Sync by MyWorks Software
- Webgility E-commerce
- Amazon Business Purchase
- Magento Connector
Document organization and processing
Documents and businesses go hand in hand. While the best accounting software systems will have a receipt and expense tracker, you can leverage the power of special apps to take your document organization and processing even further. Connect apps with your accounting software to:
- Digitize, edit, and store financial reports, estimates, and proposals, as well as industry-specific documents such as case and billing data for legal practices and employee documents for HR teams
- Create workflows and client portals
- Speed up your sales cycle by syncing your accounting software with apps that have electronic signature capabilities so that you can expedite everything from approvals to deal closings
Compliance support
Arm your business with accounting software and apps that work together to help reduce the risk that your business will be found non-compliant with the often complex laws and regulations governing your industry.
Protect yourself and help avoid the consequences of non-compliance with apps that can manage a range of important tasks, such as the following and more:
- Submitting 1099 forms electronically to the IRS
- Meeting DCAA and FAR compliance regulations
- Helping with U.S. customs documentation
- Automating backups so that you’re audit-ready
Streamline invoicing
The invoice software including a powerful accounting software system can help you create and send professional invoices so you can get paid faster.
Multiply the benefits by synchronizing your software with invoicing apps that give you even more control, automation capabilities, and insights. Discover apps that can help you:
- Automate and optimize proposals, client agreements, billing, and payment collections
- Batch invoices
- Track time for payroll no matter where your team is working
- Measure team, project, and client efficiency
Customer relationship management
You’ve worked hard to get your leads and serve your customers and clients. Maintain those relationships, act on profitable new opportunities, and add some power to your pipeline by integrating your accounting system with popular CRM tools like Method: CRM, Uncat, and many others. The apps and accounting software automate lots of time-consuming tasks that can help drive your business growth.
- Categorize transactions
- Capture and keep track of all customer and lead information, such as contacts, jobs, and billing history
- Automate bookings, cancellations, and reminders
- Collaborate with your team and share tasks
Capitalize on your accounting software
Accounting software boasts a wealth of smart features to help your business thrive. While it is an excellent foundation for managing your books and simplifying your accounting, its capabilities grow exponentially when integrated with specialized tools and systems designed to optimize virtually every aspect of your business.
