Intuit QuickBooks has announced the availability of several new and improved e-commerce innovations for QuickBooks Online that help small businesses effortlessly manage their inventory across sales channels from one central platform.
Product-based businesses often track inventory using inefficient methods, including spreadsheets, and pen and paper. QuickBooks’ new e-commerce capabilities are designed to help these businesses manage orders and inventory more confidently and with less work, which is critical, especially during the busy holiday season.
An Intuit report indicates that Customers plan to spend 35% more than they did compared to last holiday season, with 50% of this year’s holiday budget expected to be spent at small businesses. That means small businesses need the new inventory features QuickBooks is making available more than ever.
By automating inventory accounting processes and connecting sales channels, QuickBooks Online now provides a single source of truth for product, stock, and bookkeeping information, giving business owners the visibility they need to make informed business decisions. With these features, QuickBooks users can:
- Sync across sales channels: Automatically sync products, orders, inventory, and payout data with no manual entry work and automate invoicing when sales orders are placed across channels, including Shopify, Amazon, and eBay, to QuickBooks Online.
- Spot opportunities for growth: By syncing commerce data to QuickBooks Online, businesses can learn how sales are trending across channels to identify top-performing products quickly.
- Maintain accurate inventory quantity: Manage stock adjustments individually or in bulk to help ensure inventory quantity is accurate.
- Seamlessly replenish low stock: Get notified when inventory is low and effortlessly create purchase orders to replenish stock with a bird’s eye view of products and variants.
- Know where money is going: Track the cost of goods and business expenses and leverage accurate reports to help understand profitability.
Joe Black, Director of Product Management of Commerce for Intuit QuickBooks, said, “Small businesses that sell products have many sales channels to consider – ranging from multiple online platforms to in-person outlets — and while this can lead to greater revenue opportunities, it can also lead to more headaches when it comes to order fulfillment and inventory management.”
Black also said, “By automating key functions throughout the commerce process and seamlessly integrating commerce data into the books to streamline accounting, we are arming product-based businesses with the valuable insights they need to help succeed in this year’s holiday season and beyond.”
The new e-commerce capabilities are currently being rolled out to new QuickBooks Online customers and are expected to become available to existing QBO customers soon.
You can see this new functionality in the official Intuit QuickBooks YouTube video here.
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