Our newest product came about after the acquisition of the digital accounting platform Greenback.
With this addition, we aim to address the need for digital/e-commerce sales management in the accounting and bookkeeping industry.
Why now? By 2023, it is estimated that 22 percent of the world’s retail sales will be digital commerce/e-commerce sales.*
With that prospect ahead, accountants and bookkeepers will likely see an increase in clients with multiple online platforms and retail points of sale.
That’s where our new product can help. Dext Commerce allows accountants and bookkeepers to take on more digital sales clients by simplifying the collection and categorisation of sales data from 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 e-commerce revenue into the largest accounting platforms.
Dext CEO, Adrian Blair said, “Millions of businesses now sell via e-commerce 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.”
How does it all work?
Instead of extracting transactions from multiple sources, Dext Commerce automatically fetches them from retailers, marketplaces, e-commerce platforms, point of sale systems, payment providers and more.
This data is consolidated from across a client’s digital sales platforms, then sorted into a standardised and itemised format.
Finally, the sorted data is exported to accounting software like Xero and QuickBooks Online.
What can you do with Dext Commerce?
Consolidate sales data from multiple channels
Dext Commerce provides a standardised view of the sales data from multiple platforms, perfect for clients who sell on many different platforms such as Amazon, eBay and Shopify. We support a growing list of seller marketplaces, payment platforms, e-commerce storefronts, POS systems and accounting programs.
Access real-time sales data
Dext Commerce gives access to sales data in real-time so users
can correctly assess cut off date, cost and accrual-based accounting methods, deferred revenue and more.
Ensure tax compliance
Dext Commerce enables users to properly allocate tax associated with an order to an appropriate domestic or international rate.
Sync with Amazon
Dext is also deepening its relationship with Amazon Business, which means offering users the ability to synchronise expense data from Amazon Business with the Dext platform.
When is Dext Commerce available?
From today Dext Commerce is available to all accountants, bookkeepers and businesses in the UK, US and Canada with a rollout in France and Australia later this year.
Firms in these regions can expect Dext Commerce’s key features to simplify, standardise and streamline digital sales accounting and bookkeeping.
As we continue to expand Dext for our customers we are driven by our goal to make accountants and bookkeepers more productive, profitable and powerful.