Introduction

It is an ecommerce accounting app that helps businesses, accountants, and bookkeepers automatically reconcile payouts from their sales channels in QuickBooks, Xero, or Sage. A2X transforms payout data from Amazon, Shopify, eBay, Etsy, and Walmart into organized summaries that reconcile perfectly in Xero, QuickBooks Online, or Sage. 

Features 

A2X is an excellent solution for any e-commerce business to streamline its accounting processes. And below are the features of A2X, 

• Automation of Manual Transactions: 
  This feature allows users to automate recording and categorizing transactional information from different sales channels, such as Amazon, Shopify, and eBay. It helps users save time and reduces errors related to manual data input, ensuring all relevant transactions are captured and organized for better financial management. 
• Detailed Financial Reporting: 
  This important feature provides detailed insight into profit margins, COGS, and channel performances, which are important for effective business decisions. It also empowers users to track the company’s financial health regularly. It also helps a company prepare or plan for investment or bank financing with full, thorough knowledge of its business performance. 
• Easy Reconciliation: 
  This feature helps match transaction information with bank deposits. It makes reconciling accounts easy by allowing users to match their sales and fees against the payouts in their bank accounts. This reduces the time spent on reconciliation and ascertains that financial records are correct and reliable. 
• Tax Compliance: 
  It helps users stay compliant with all sorts of tax regulations by allowing for the proper accounting of taxes on sales. It enables the user to attach the tax rules to the given types of transactions and ensures that taxable and nontaxable sales are separated accurately. It saves time and avoids potential issues in taxes. 

Integration & User’s

A2X seamlessly integrates with platforms like QuickBooks, Xero, NetSuite, and Sage, and is facilitated for e-commerce retailers, accounting firms, and professionals in bookkeeping, online marketplaces, and drop shipping businesses. It provides an essential bridge between e-commerce platforms and accounting tools, ensuring accurate financial management for its users. 

Benefits

• Accurate Reconciliation of Payouts: 
  E-commerce platforms often consolidate multiple transactions (sales, refunds, fees, etc.) into a single payout, making reconciliation difficult and prone to errors. A2X breaks down the payout data into detailed entries for sales, refunds, fees, and taxes, aligning them perfectly with bank deposits. This ensures accurate reconciliation in accounting software 
• Tax Compliance and Reporting: 
  Managing sales tax across different jurisdictions (states, countries) is complex, especially for e-commerce businesses operating globally. A2X separates taxes and generates accurate reports, ensuring compliance with tax regulations and simplifying tax filings. 
• Time Savings Through Automation: 
  Manually entering and categorizing e-commerce transactions is time-consuming and error prone. A2X automatically fetches and categorizes transactions, saving hours of manual work and reducing errors. 
• Real-Time Insights for Financial Decision-Making:
  Without a clear understanding of profit margins, fees, and expenses, businesses struggle to make informed financial decisions. A2X provides detailed financial insights by itemizing all revenue, fees, and expenses, giving a clear view of profitability. 
• Simplifies Multi-Channel Accounting: 
  E-commerce businesses often sell on multiple platforms (Amazon, Shopify, etc.), making it hard to consolidate data. A2X integrates with various platforms, consolidating all transactions into one system, simplifying bookkeeping. 
• Compliance with Accounting Standards: 
  Without proper categorization and timing of income and expenses, financial statements can violate accounting standards. A2X ensures income and expenses are recorded in the correct periods, adhering to accrual-based accounting standards. 

Conclusion

A2X is a cloud-based e-commerce accounting solution that simplifies bookkeeping by automatically syncing sales and payouts with platforms like QuickBooks and Xero. It ensures accuracy in financial records by breaking down transactions into detailed and properly categorized entries. With features like automated reconciliation and tax reporting, A2X saves time and reduces the risk of manual errors. Its seamless integration with major e-commerce platforms like Amazon and Shopify makes it an essential tool for businesses. A2X ultimately promotes transparency, efficiency, and compliance in managing e-commerce finances. 

To learn more about how our expert financial planning services can help your business thrive, explore our solutions here.

Author

Akshay Baleri and Nikhil Jog