Ecommerce accounting can be complex, especially when compared to traditional brick and mortar retailers. From selling large volumes of products across multiple sales channels in different states, provinces, or countries to dealing with multiple tax requirements, there’s a lot you need to account for.
That’s why A2X (and our network of expert ecommerce accounting and bookkeeping partners) exists! To automate your ecommerce accounting, save you hours a month, while providing you with the most accurate financials.
With Assisted Setup for new accounts, getting up and running with A2X just got simpler, faster, and more accurate!
Whether you’re new to ecommerce accounting or have been at it for years, you can benefit from A2X Assisted Setup:
- Get up and running in seconds – After creating a new A2X account, connecting your sales channels (Amazon or Shopify), and accounting software (QuickBooks, Xero, Sage), A2X will prompt you with a few questions about your business. Once these questions have been answered, A2X will then automatically apply best practice recommendations to your new A2X account for accurate ecommerce accounting. These recommendations include Chart of Accounts, transaction mappings, and tax configurations. They come from years of experience and input from industry experts. You can either choose to accept them or customize them to fit your needs.
- Recommended ecommerce Chart of Accounts synced with QuickBooks or Xero – With Assisted Setup, A2X will create a recommended Chart of Accounts to ensure the transactions from your sales channels are accurately accounted for. The recommended Chart of Accounts will sync with your accounting software – giving you accurate ecommerce accounting and a more detailed view of your Profit & Loss Statement (P&L).
- Accurate tax configurations – A2X will provide recommendations on what transactions should have tax applied and what transactions shouldn’t, based on your region and tax registrations. A2X then applies the correct tax rate to each of these lines to ensure you accurately account for tax and avoid overpayment.
A2X Assisted Setup is available on all new Amazon and Shopify accounts in the United States, United Kingdom, Canada, Australia, and New Zealand. Additional channels to be announced in the future.
Creating a new A2X account and want to take advantage of Assisted Setup? Read our Assisted Setup support article to learn more.