2023 Bookkeep Recap: Simplifying Accounting Complexity for Multi-Channel Sellers

In thinking about where Bookkeep really SHINES, it’s in two areas.  The first is our world-class customer support.  The second is when there is significant channel complexity.  The more selling and payment channels, the more time we can save you and the more confidence and clarity your team can gain from the books.  Since our team is with you every step of the way, you needn’t fear complexity.  We make everything simple.

Perhaps the biggest advantage of working with Bookkeep is that you don’t need a work-around solution for “one” of your channels because your accounting automation app is not good at that channel!  We work for ALL your selling and payment channels.

 

We are not afraid of Square.  In fact, we are a top-rated app on the Square marketplace!

We love Shopify. So much so that we continue to release heavy-weight features that benefit our most complex multi-channel seller customers.

Our Paypal and Stripe integrations are world class, and we excel at Amazon, eBay and Etsy.

We also boldly integrate with popular retail, restaurant, and niche POS applications as well!

 

Below, please find a few of the innovations we released in 2023 to help businesses like yours to get more done, and gain greater confidence in their books, and clarity in their selling and payment channels.

And, we are not done yet (we’ll never be done, actually!)  Our team releases several new features each month, so this is just a sampling below.

 

Significant releases in 2023

Sales Tax Service released in partnership with Davo

Last April, Bookkeep, in partnership with Davo (a division of Avalara), released our Sales Tax Service. This is another tool to help streamline your workload and automate yet another painfully manual process. 

 

Bookkeep Certification Launched

The Bookkeep Certification Program is available at no charge to all of our partners!  Access this valuable training and certification through your Bookkeep app, or, request access via this link.

 

Notable New Connections Added

Bookkeep is the only app which not only syncs data from popular ecommerce selling and payment platforms (like Shopify, Amazon, eBay, Square, Paypal and more) to QBO, Xero, or Zoho Books, but we also integrate with popular POS systems!

Notable new POS platforms added in 2023 include:

Notable new selling platforms added in 2023 include:

 

Significant Enhancements to Existing Connections:

We continue to add deep functionality to our existing connections.  Check out a sample below.

Shopify:  WE LOVE SHOPIFY.  And we never hesitate to go DEEP.

    • Shopify Revenue Recognition based on Fulfillment Date
      • Yes, you read that right! We can now automatically recognize your revenue in Shopify, based on the date your order is fully fulfilled. No other app can do this. 
    • Shopify Sales Tax Withheld Capture
      • Some channels on Shopify collect and withhold sales tax (e.g. Facebook). 
      • Without removing the withheld component, customers risk overpaying their sales tax. 
      • Bookkeep captures any sales tax withheld and remitted on your behalf, so you don’t overpay your liability.
    • Shopify Source Data Attachments
      • Now, you can download the source data files on each Shopify Ecommerce journal entry!

Ebay: To make your deposits easier to understand, we added a breakdown per deposit to indicate what each deposit contains such as $100 from sales day #1 and $50 from sales day #2. 

Square: Functionality was added to capture returns that were refunded to a gift card when the original payment method was not a gift card. Previously, if a credit card paid order was refunded to a gift card, there was no way to tell that it was refunded to a gift card. We are now able to capture this.

Xero: We can now handle tracking categories to help you segment your revenue!

QuickBooks Online:  We released VAT Sales Tax Support for the UK – now supported with our Square, Shopify, SumUp, & Squarespace app integrations for the UK, and synching into QuickBooks Online.

 

Some of the Enhancements to Bookkeep App functionality:

In 2023 we added several features that our more complex clients love, including:

User types and roles: As a part of company management where a company can have many entities, we enabled adding a user to 1, or a subset, or all the entities in a company. Roles exist so you can give each user different permissions.

Revenue Reporting Views  – see reporting for one channel, a subset of your channels, or all of them. Available on our Plus Plan and up.

Ability to copy a journal entry mapping to save setup time.

Bookkeep’s very own currency conversion tool: We can enable posting to QBO without turning on multi-currency feature in QBO (which once turned on in QBO, cannot be turned off.) Bookkeep converts the currencies in our system instead, then posts to QBO.

 

Whew!  Lots of good stuff there. And that’s really only a highlight reel. 

With some of the more advanced releases we made in 2023, more and more accountants and CFOs are turning to us as the recognized solution for really complex ecommerce situations.

We encourage you to call us and see how we can streamline your complex multi-channel selling accounting processes in 2024. Because you truly do deserve to have less stress, more time, and much more confidence in your books.

 

Cheers!

The Bookkeep Team

The post 2023 Bookkeep Recap: Simplifying Accounting Complexity for Multi-Channel Sellers appeared first on Bookkeep.

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