I hope you all are enjoying your cup of joe, java, coffee or tea this morning. As Heather Satterley and I talked about our ecommerce clients, QuickBooks Commerce piqued my curiosity. I decided to dive in and see what it is all about.
To my surprise, QuickBooks Commerce can no longer be purchased separately. It is solely found as a tab inside of QuickBooks Online subscriptions.
In this article, I’ll give you a brief overview of QB Commerce within QuickBooks Online and how it can benefit ecommerce businesses and will touch more on how to use this feature next week.
What is QuickBooks e-Commerce?
QB Commerce allows you to manage your finances in one place. With QB commerce, you can connect your bank account, credit cards, and PayPal account so that all of your transactions are automatically imported into QuickBooks Online.
This saves you time by eliminating the need to enter each transaction into the software manually.
In addition, QB Commerce categorizes your transactions so that you can see where your money is being spent. This information can be useful in identifying areas where you may be overspending. For example, if you know you are spending a lot on dining out, you may want to cut back to save money.
QB Commerce also has a built-in invoicing system that allows you to send invoices and track payments. This is particularly useful if you have customers who often pay late. With QB commerce, you can see at a glance which invoices have been paid and which ones are still outstanding.
This makes it easy to follow up with late-paying customers and avoid getting stuck with unpaid invoices.
How Can QB Commerce Benefit ecommerce Businesses?
There are many ways in which QB Commerce can benefit ecommerce businesses. First, as we mentioned earlier, QB Commerce automatically imports your transactions and categorizes them for you.
This frees up time that you can use for other tasks, such as marketing or prospecting for new clients.
In addition, QB Commerce provides valuable insights into client spending habits. This information can help decide where to cut costs to save money.
Finally, the built-in invoicing system ensures that your client gets paid on time and avoids getting stuck with unpaid invoices.
Overall, QB Commerce is a valuable tool for any business owner who wants to save time and streamline their accounting processes.
Stay tuned for the next article on how to use QB Commerce inside QuickBooks Online.
Liz Scott is a multi-business entrepreneur working to bring together technology and accountants through her business, Liz Scott Consulting. A member of Intuit Trainer/Writer Network, she authored and taught Master level courses, including Advisory Guides and Consulting Tools for Accountants. In addition to Liz Scott Consulting, she also owns Accounting Lifeline, a firm to serve small businesses with their financial needs. Liz is a co-host of the “Appy Hour,” which helps other accountants learn about the different tools and apps for small business needs. Holding a high passion for real estate investment, she owns properties throughout Oklahoma.
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