Best Accounting Software for Shopify Makers in 2019

If you’re not a fan of the old balance sheets and accounting business then you’re not the only one. There’s some comfort to be taken in that sure. But without looking at the best accounting software for Shopify available then you might be stuck doing it yourself.

If you’re not a fan of the old balance sheets and accounting business then you’re not the only one. There’s some comfort to be taken in that sure. But without looking at the best accounting software for Shopify available then you might be stuck doing it yourself.

Unless you happen to have a penchant for number crunching and a passion for tax regulations then hiring an accountant is pretty much a given for any small Shopify business. 

But even with a wonderful accountant on your side, the reality is that you are still going to have to be involved on some level. At the very least you still have to provide them with the ins and outs of your dealings. And you are going to want to have access to a simplified overview of your accounts on hand at any time.  

These can be time-consuming endeavours for a small manufacturer that is busy making quality passion-driven products. That’s why you need to be looking for the best accounting software for Shopify to help smoothen your accounting processes. 

Shopify itself will provide you with tracking for your sales, discounts and refunds of course. However, this is limited and lacks detailed information for your accountant to use such as cost of goods sold to be determined for record’s sake. 

There are a lot of options out there to help with this, and which software you choose will mostly come down to the details and particulars of your business. But more than anything you want to be looking for software that makes life easier for you.  

Ideally you want a cloud-based software that integrates with your current system as much as possible to take the load off your hands. And it’ll be especially handy if it fits in with your Shopify order management system. 

But where will you find such an ideal solution? 

Fear not.  

We have delved deep into the dark abyss of accounting software to find you the finest of the best.  

1. Quickbooks (Starting from $10/month) 

Highly visual interface is a underestimated factor to consider when looking at the best accounting software for Shopify. Quickbooks frankly smashes the ball out the park on this one. It’s so easy to follow how your accounts are doing without having to spend precious brain energy running through numbers.

Highly visual interface is a underestimated factor to consider when looking at the best accounting software for Shopify. Quickbooks frankly smashes the ball out the park on this one. It’s so easy to follow how your accounts are doing without having to spend precious brain energy running through numbers.

With a friendly interface that’s easy to navigate there’s good reason that Quickbooks is the top of most searches when looking at Shopify accounting. But its visual attractiveness is certainly not to be taken for shallowness.  

Those little colorful pie charts and graphs are going to mean you can keep track of your accounts without needing an expert to be explaining things to you.  

Perfect for the maker and smaller manufacturer. 

But don’t be fooled. The range of features it offers is far and wide.  

Here are a few of them to get you drooling: 

  1. Integrate Quickbooks with your Shopify inventory software - Keep track of your orders alongside your raw material availability. This way your manufacturing and finances are going to work in tandem to give you seamless data synchronization. 

  2. Invoice customers intuitively – You have the ability to create customizable templates, send invoices and have reminders sent to them automatically. Customers can even be given payment links so that the process is simplified across board.  

  3. Track various income and expenses – Brilliantly, you can link your various payment methods such as credit cards, bank transfers, Paypal to Quickbooks. Your profit, loss, expenses and all will be displayed in one dashboard with lovely charts to go on top. 

  4. Advanced reporting – Your profit/loss, expenses and balance sheets can be easily accessed, printed off and manipulated to create interactive reports. Even more vital to the daily operations of business is the ability to track cash flow and avoid any unwanted mishaps. 

2. Xero (Starting from $9/month) 

Xero is a monster when it comes to looking through the best accounting software for Shopify. By monster we mean that i’s absolutely jam-packed with features and capabilities. Not to be taken lightly.

Xero is a monster when it comes to looking through the best accounting software for Shopify. By monster we mean that i’s absolutely jam-packed with features and capabilities. Not to be taken lightly.

The sheer number of features available with Xero have made it a staple amongst larger ecommerce merchants for years. With multiple apps available on the side you can make sure to keep track of your accounting needs on the go and sync with other apps at the same time. 

With a customizable and dynamic dashboard, you are able to tailor this powerful software to meet your needs.  

As a small manufacturer it may even seem overwhelming at first, but Xero is known for having vast set of quality articles available to support its customers if they get stuck anywhere. 

That’s why it’s considered one of the best accounting software for Shopify. Especially considering it has multiple direct integrations with your online store which will constantly keep your orders and products in sync.

Here are some of its standout features: 

  1. Depreciation on fixed assets – The capability to calculate depreciation on your assets lets you have an accurate picture of your manufacturing overhead. But more so than that is a GAAP requirement which will save your accountant a lot of time.  

  2. Mobile app – This might not seem like a big deal on first glance, but you can’t deny that having the ability to sort your finances on the go is a welcome tool for any business. 

  3. Smart contact management – By merging your finances with groups of contacts and customers, Xero may unexpectedly find its place in your marketing tools. For example by locating lower sales groups in your contacts lists you can do targeted discounts. 

  4. Detailed reporting – The system can generate 65 reports based on the core elements of balance sheets, payrolls and profit/loss. But something it does which most others don’t is offer an equity report which displays owners investments and equity draws. Might not be everyone, but it’s a powerful tool for businesses it applies to. 

3. Sage Accounting (Starting from $10/month) 

Great things come in small packages they say. And if that’s true then Sage might well be one to remember, especially if you have a lower-level operation. Instant invoice reporting means you can chase up those missing bills without trawling through the accounts, making this a worthy candidate for best accounting accounting software for Shopify.

Great things come in small packages they say. And if that’s true then Sage might well be one to remember, especially if you have a lower-level operation. Instant invoice reporting means you can chase up those missing bills without trawling through the accounts, making this a worthy candidate for best accounting accounting software for Shopify.

Searching the Shopify app store for Sage accounting might well not get you anywhere. The reason for that is that it is not an integrated app, and as a result you will also have to get OneSaas app to be able to use this fluidly. 

Beyond this initial hiccup though, is a powerful yet simple accounting software designed for the small manufacturer. Everything has been created to work in real-time with the ability to do your invoices, track what you’re owed and connect to your bank. 

It may not be a long-term solution if you’re planning to scale big in the near future, but otherwise it may be the easiest on the eye for any newcomer. Certainly a strong consideration in the world of best accounting software for Shopify makers.  

Here are some of its key features: 

  1. Automatic transaction matching – after connecting to your bank account, Sage uses machine learning to memorize your selections over time. You could save a lot of wasted hours filling in data with this little trick. 

  2. Instant invoice reporting – chase unpaid invoices by simply looking at the lists that the system procures for you. If this is an issue you have to deal with often then this is a clear and simple solution. 

  3. Simple to use – the lack of more advanced features is to some degree balanced out by the brilliant visual interface. Navigating this software will feel like a walk in the park compared with its peers. 

4. Freshbooks (Starting from $15/month) 

Sometimes the simplest can be most appropriate when searching for the best accounting software for Shopify. And what Freshbooks lacks in extended features, it makes up for in a friendly and quick to navigate interface.

Sometimes the simplest can be most appropriate when searching for the best accounting software for Shopify. And what Freshbooks lacks in extended features, it makes up for in a friendly and quick to navigate interface.

You’ll be hard pressed to find a more well packaged accounting software as Freshbooks. Probably because it’s largely used by freelancers as well as smaller businesses. 

It’s accounting and invoicing systems are simple to understand, and they have one of the best support systems out there. Rather than just relying on articles they even encourage users to call them for human guidance. 

And support is not an area to be underestimated when searching the best accounting software for Shopify users. The initial learning curves are not steep, but it’s likely that you will get a lot more out of it with some guidance. 

Like Sage, you will require OneSaas app to connect to Shopify which is a bit of a downside. But the way it makes paying your taxes so much smoother with its preset categorizations does mostly justifies that. 

Plus, all of your items will be transferred automatically from your Shopify store so you can get to calculating selling prices the right way.  

Check out some of their key features: 

  1. Categorization for taxes – You won’t have to spend time pulling apart your spreadsheets because the tax categories are already there for you. 

  2. Project tracking – Split your expenses for each of your projects so you can make sure you aren’t spending more than you should be. Even more importantly you can actually use Freshbooks for your project management and deliverables. 

  3. Team permissions – Allow others access to your accounting and expenses to the limits which you set yourself. No more mediating required. 

5. Wave (Free) 

You might not expect a free solution to come up in our list of best accounting software for Shopify, but considering it won’t cost you a dime, why not take a look? Especially if you’re a one or two person show!

You might not expect a free solution to come up in our list of best accounting software for Shopify, but considering it won’t cost you a dime, why not take a look? Especially if you’re a one or two person show!

The fact that Wave is free probably grabbed your attention.

Sadly though, that does come at the cost of not being able to integrate with Shopify. Instead you will have to import your transaction spreadsheets into Wave and then make some modifications.

Certainly not ideal if you have a lot of sales, but if you are a micro business with only a few sales a week then this could be the way to go.

In which case, this is a brilliantly simple software that helps you keep track of your basic accounting needs. Cash flow, sales, purchases, payroll...all there. And it’s easily readable and shareable for your accountant to make use of when it comes to crunch time. 

You definitely won’t be getting advanced reporting or inventory management integration so there are certainly limits. But if you are planning to keep running a small one or two person operation then Wave will be able to handle your needs. 

Here are some features: 

  1. Fast setup – The simplicity of this software is to its credit as much as it may also be its flaw. The ease of which you can get up and running without any training is unparalleled.  

  2. Connect bank and credit card accounts – Despite being free Wave can be linked to your accounts to automatically download your transactions. This will save you a lot of time on data entry.  

  3. Secure data – All of the bank data that is recorded is read-only and encrypted by the system. Wave is PCI Level-1 certified for bank account and credit card information so you can rest assured for the safety of your data. 

Shopify Accounting Mastery with Katana

There can be no doubt that each one of these brilliant pieces of software can make a huge difference to your business.  

The amount of time you save is going to better spent on whatever else you want to be doing, even if that’s just rewarding your hard work with a cheeky holiday. Because no-one wants to be spending time racking up numbers and talking to their accountant about what they mean (even if he is a lovely fellow). 

So, you need to get something that fits into your business model easily and works as part of your entire order fulfillment cycle and workflow. Ideally you want software that works with your inventory and order management so that all your sales invoices are easily trackable. 

That means you can sort your taxes and reports from your Shopify orders without the need for constant manual inputting. 

To start off then, you need the right foundation for your small manufacturing business to work from.  

Katana Smart Workshop is a software that is tailor made for managing your orders and inventory on Shopify for makers by offering: 

1. Shopify order fulfillment  

By having your entire order flow of purchasing, manufacturing, inventory and sales in one place, it’s easy to make quick decisions and changes. The software has been designed and color coded from head to toe to make it easy to spot when something is off. 

2. Raw material inventory management  

Katana’s unique auto-booking system automatically updates your inventory movement in real-time. That means you can get a clear overview of which materials are available and which need purchasing at any given moment. 

3. Quickbooks integration 

No more worrying about your accounts and taxes. Katana send all of your Shopify order invoices directly to your Quickbooks account at the click of a button. You can also send orders from outside of Katana to your Quickbooks account without having to constantly move back and forth between spreadsheets. 

Click “Create invoice” in your Katana sales view and the invoice is automatically sent to your QuickBooks account. Once it’s been done you’ll see a pretty little icon to show the sync is complete. Simple as that.

Click “Create invoice” in your Katana sales view and the invoice is automatically sent to your QuickBooks account. Once it’s been done you’ll see a pretty little icon to show the sync is complete. Simple as that.

The integration with QuickBooks means that you will have a triad of platforms that provides a solid foundation from which you can build your small manufacturing business: Katana, Quickbooks and Shopify. 

Katana acts as the headquarters from which you make sure you can make sure all your orders are on track to be made and delivered on time. Shopify is the face of your business. Quickbooks deals with the grey number matter in the background. 

But of course each business is going to have its own requirements. When searching for the best accounting software for Shopify that works for you, it's important that you spend some time thinking about your needs. 

Every time you come to a new software ask yourself - how much easier is this going to make running my business? 

You’ll soon enough find that the choice gets a whole lot simpler…

Ali from KatanaComment