Best Accounting Software for Shopify in 2021

Finding the best accounting software for Shopify is no walk in the park. Check out our top picks of the year to help bring your search closer to an end.

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.
Published: 18.01.2021

Not a fan of the old balance sheets and accounting business? 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.

Accounting can be time-consuming. 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 Online

  • Available for: Web application, Desktop App on Mac or Windows.
  • Mobile app: iOS and Android.
  • Price: Starting from $10/month. The first three months of your plan will be at 50% rate, following this period the starting price is $20/month.
  • Free trial: 30-day free trial.
  • Shopify integration: QuickBooks Online have third-party integrations with Shopify to import data.
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.

QuickBooks Online has a highly visual interface. This is an 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.

Take your manufacturing to the next level by integrating QuickBooks with a visual and simple, but powerful all-in-one manufacturing solution from Katana.

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 manufacturers looking to use QuickBooks.

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

Here are a few of them to get you started:

  1. Integrate QuickBooks with your Shopify inventory softwareKeep 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 intuitivelyYou 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 expensesBrilliantly, 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 reportingYour 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.

It is worth noting that there are different versions of QuickBooks accounting software that has slightly varying pricing plans, including QuickBooks Online and QuickBooks Global. Make sure to do your own research to find the best plan for your business.

2. Xero

  • Available for: Web application.
  • Mobile app: iOS and Android.
  • Price: Starting from $9/month.
  • Free trial: 30-day free trial.
  • Shopify integration: Xero and app partners have third-party integrations with Shopify.
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 built for small business, accountants and bookkeepers to simplify everyday accounting needs.

It is jam-packed with features and capabilities from data capture, to ban reconciliation, to multi-currency accounting.

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

For more Xero Integrations see our article on Xero Integrations for Scaling Manufacturers.

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

As a small business 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.

Manufacturing business looking to integrate Xero with your operations? Katana software integrates with Xero so you can scale and grow your business.

Here are some of its standout features:

  1. Depreciation on fixed assetsThe 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 appThis 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 managementBy 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 reportingThe 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 Business Cloud Accounting

  • Available for: Web application.
  • Mobile app: iOS and Android.
  • Price: Starting from $10/month.
  • Free trial: 30-day free trial.
  • Shopify integration: Sage Business Cloud Accounting can be integrated with Shopify via third party apps.
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.

Good things come in small packages.

That’s certainly true for Sage Business Online Accounting.

Instant invoice reporting means you can chase up those missing bills without trawling through the accounts, making this a worthy candidate for best accounting software for Shopify.

A powerful yet simple accounting software designed for the small business. 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 if you have a lower-level of operation it may be the easiest on the eye for any newcomer. Certainly a strong consideration in the world of best accounting software for Shopify businesses.

Here are some of its key features:

  1. Automatic transaction matchingAfter 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 reportingChase 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 useThe 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

  • Available for: Mac and Windows.
  • Mobile app: iOS and Android.
  • Price: Starting from $4.50/month.
  • Free trial: 30-day free trial.
  • Shopify integration: Integration via third party OneSaas app.
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.

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.

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 taxesYou won’t have to spend time pulling apart your spreadsheets because the tax categories are already there for you.
  2. Project trackingSplit 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 permissionsAllow others access to your accounting and expenses to the limits which you set yourself. No more mediating required.

Wave

  • Available for: Web application, Mac and Windows.
  • Mobile app: iOS and Android app only for mobile invoicing and receipt scanning.
  • Price: Free.
  • Free Trial: Software is 100% free.
  • Shopify integration: Integration via third party app.
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?

It can be integrated with Shopify via third party applications to sync orders and payouts.

It can be a great option to track of your basic accounting needs. Cash flow, sales, purchases, and payroll. And it’s easily readable and shareable for your accountant to make use of when it comes to crunch time.

You 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 setupThe 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 accountsDespite 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 dataAll 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.

Master Shopify Accounting with Katana

Choosing the right accounting software that integrates with your ecommerce platform means you will have more time to spend on the more important things – like growing your business.

But is integrating your ecommerce and accounting enough to optimize your business?

To fully optimize your business flow, you need to get something that fits into your business model easily and works as part of your entire order fulfillment cycle and workflow.

The winning formula for D2C manufacturers:

E-commerce platform + Smart Manufacturing Software + Accounting tool = Success

Katana Smart Manufacturing Software integrates with your e-commerce and accounting solutions to provides a solid foundation from which you can build your business.

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.

We have the solution.

Katana software is tailor made for managing your orders and inventory on Shopify for businesses by offering:

1. Shopify Order Fulfillment

Katana and Shopify Integration for Automated Fulfillment Status Update.

Manage your entire order flow of purchasing, manufacturing, inventory and sales in one place with the Katana and Shopify integration, it’s easy to make quick decisions and changes.

Automate your management flow with fulfillment status updated in Shopify when you mark a product “Delivered” in your Katana dashboard.

Katana 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

QuickBooks and Katana Inventory Integration

Shopify + Katana + QuickBooks = Success

No more worrying about your accounts and taxes.

You can also send orders from outside of Katana to your QuickBooks account without having to constantly move back and forth between inefficient spreadsheets.

Katana send all of your Shopify order invoices directly to your QuickBooks account at the click of a button.

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.

Follow the set-up steps to connect QuickBooks and Katana in this simple walk-through video:

4. Xero Integration

Xero and Katana Accounting Integration

Shopify + Katana + Xero = Success

Katana integrates with Xero to sync data between your accounting solution with your manufacturing software.

Connecting Katana and Xero keeps your orders synchronized in both systems. Prevent situations where figures in different platforms do not match.

Your whole team will benefit, and your accountant will love it.

Connecting Xero and Katana is quick and simple. Follow the set-up steps in this walk-through video:

PRO TIP: Don’t want to use the Katana x Xero native integration? Not a problem. You can also set up automatic sales order import from Xero to Katana via Zapier.

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 or Xero deal with the grey number matter in the background.

But 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.

Integrate your Shopify store and accounting with Katana Smart Manufacturing Software. Sign-up for a free 14-day trial.

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