Accounting software provider Dext has added a digital sales product to its growing platform, following the acquisition of Greenback which rebrands to ‘Dext Commerce’.
Dext Commerce allows accountants and bookkeepers to take on more digital sales clients by simplifying the collection and categorisation of sales data from 16 e-commerce, POS and payment platforms including Amazon, PayPal, Shopify and Stripe. It also integrates with Xero and Quickbooks Online, enabling accountants and bookkeepers to accurately submit eCommerce revenue into the largest accounting platforms.
The solution solves the challenge of manually fetching and consolidating sales data from multiple commerce and payment platforms in different formats. Dext Commerce simplifies sales data and tax calculations across multiple countries, allowing accountants and bookkeepers to more profitably service digital sales clients.
Key Dext Commerce features include:
- A digital record of sales transactions line by line to support compliance with new data regulations like ‘Making Tax Digital’ in the UK;
- Making sure clients report and pay the right sales tax, wherever they sell;
- Itemise sales, fees, refunds and reimbursements data, line by line, with one subscription;
E-commerce sales in the UK and US comprised c. 35% of total retail sales in 2021, nearly doubling in the UK.
Dext CEO, Adrian Blair, commented: “Millions of businesses now sell via eCommerce platforms like Amazon and Shopify. Dext Commerce enables accountants and bookkeepers to take on these businesses as clients more profitably. Dext Commerce solves two key pain points: getting standardised data, line by line, from multiple sources; and ensuring digital sellers accurately calculate how much tax to pay in different markets.”
Dext Commerce is available to all accountants, bookkeepers and businesses in the UK, US and Canada from September 1st, with rollout in France and Australia later this year.