Top 10 Best Accounting Software for Shopify Stores

No matter, are you an experienced businessman or a beginner in ecommerce, your store requires proper accounting software. You can find a great number of various services on the marketplace, so it’s crucial to choose the most suitable tool. The wrong instrument can make your store’s work slower and you will lose your time changing software.

If we look to the Shopify app store, we can find several applications that can integrate and work with this platform. They help Shopify store owners automatize needed calculations, track expenses and incomes, make reports or forecasts, and so on. So, we gathered in random order the best accounting software for Shopify stores to help you organize your company work. Let’s consider what apps are the most popular on the Shopify AppStore.

1. FreshBooks

FreshBooks is a popular cloud-based time-consuming tool for small companies that offers a lot of features:

• professional invoices that are created during several seconds
• integration with more than 100 services, needed for business
• expenses organization to track your money flow
• convenient time tracking that you can include in the invoice
• storage for all your files and documents
• easy reporting system
• ability to automate your balance check
• mobile version to simplify your work on iOS or Android
• 30-day free trial period
• sales if you choose annual payments
• pricing starts at $15 per month: there are 3 plans and a unique offer for companies with special needs.

2. Holded

Holded is also a cloud-based software that helps you manage your finance, sales, and human resources. Holded is proud of its intuitive user-friendly interface and excellent customer service that is needed for newbies in ecommerce.

Let’s take a deeper look at its features:

• CRM
• allows importing data
• can integrate with all needed tools except Shopify: PayPal, Amazon, Stripe, etc
• powerful invoicing tool
• gathers all information about your transactions
• shows your revenue and expenses in real-time
• gives access to all accounting notes in the General Ledger
• good for reporting and forecasting
• safe bank reconciliation
• 14-day free trial period
• free for freelancers
• 4 pricing plans that differ in the number of invoices
• money-saving if you choose annual payments
• starts at € 29 per month (approx. $35 per month).

 3. Xero 

Xero helps business owners keep all information about finance in one place: expenses, invoices, pay runs, and allows them to stay on top anytime and anywhere.

Let’s see the benefits of Xero:

• cloud-based tool
• flexible customization for your convenience
• real-time collaboration
• synchronization with banks
• work with bills and receipts
• mobile version allowed
• 24/7 online support
• 30 days free trial period
• 3 pricing plans
• pricing starts at $5.50 per month
• ability to integrate payroll service for an additional fee.

4. QuickBooks Online

QuickBooks Online is a desktop accounting software for small and mid-sized stores. It offers a lot of useful features, promises to cover any aspect of your work with finance and prepare for tax time. Let’s consider it in detail:

• automatization of invoicing and bookkeeping
• time and inventory management tool
• good for bank reconciliation
• available mobile application
• customizable reports about cash flow, expenses, and revenues
• allows a multiple users collaboration
• data protection
• 30-day free trial period
• 4 pricing plans
• ability to add the payroll tool
• pricing starts at $25 per month.

5. Zoho Books

Zoho offers a lot of useful tools to streamline and automate your company’s work: from CRM and analytics to email hosting, analytics and accounting software. You can combine these products according to your business requirements: if you need advanced reporting or inventory management, or you are the subscription business owner.

Accounting software provides instruments for inventory management, checkout, invoices, expenses, and subscriptions. So, what are their features?

• Customizable invoices
• allows doing the accounting on the go with the help of the mobile app
• reports with real-time data
• allows keeping all documentation in one place
• vendor portal: your vendors can manage their transactions and see your orders
• secure acceptance of online payments
• ability to generate bills and upload receipts
• ability to manage orders, inventories, and projects
• 3 pricing plans, if you choose annual payment, you pay only for 10 month
• pricing starts at €9 per month (approx. $10)
• 14-day free trial versions of the blend of Zoho Books and Zapier, an integration tool for Shopify and other services.

6. SimplyCost

With the help of SimplyCost, Shopify store owners can automatically get profit reports, add cost prices, and profit tracking to their stores. A user-friendly interface is clear and convenient even for beginners. What are the main features of this app?

• Ability to make various kinds of reports: by time period, product, order, vendor
• tracking expenses
• profit and cost of good sold (COGS) calculation
• payment gateway processing fees calculation
• Shopify transaction fees calculation
• 14-day free trial period
• pricing starts at $4.99 per month.

7. Account Edge Pro

If you are looking for a full-service desktop accounting solution for Windows or Mac, you can try an AccountEdge Pro. It’s available in any country, so you can customize currency and need tax. They use a double-entry system, so your accountant will get a free copy of your file. Other features are:

• ability to work and manage sales, invoicing, orders, time-billing, and purchases
• ability to run payroll
• ability to add licensed users
• transfer your account list from other services
• accept credit cards
• free email customer support
• several additional services: checkout, workstation licenses, etc
• 30-day free trial period
• one-time fee $499 for 10 users (perpetual license)

8. Bizowie Cloud ERP

Bizowie Cloud ERP is good for various kinds of businesses: ecommerce, manufacturing, distribution, food, and beverage category. So, choose your case to see what they can offer to your company.  Let’s see what features are available for online retailers:

• cloud, subscription-based software
• ability to manage and automate your accounting
• covers all workflow of your store: shipping, inventory management, human resources, etc
• integration with all popular ecommerce platforms to synchronize orders and other data
• there is no free trial period
• pricing starts at $850 per month.

9. CraftyBase 

If you want to sell your hand-made products, pay your attention at CraftyBase. It’s a bookkeeping and inventory management tool designed for this category of online retailers. They offer an all-in-one solution for your business that includes

• the generation of pricing suggestions for your products based on the material and labor costs
• automatized calculation of the cost of goods sold (COGS)
• ability to make different kinds of reports
• orders, expense, and hidden costs tracking
• integration with various ecommerce tools
• 14-day free trial period
• pricing starts at $23 per month, but if you choose annual payment, it would be $19 per month.

10. Accountify

Accountify is a free application designed for Shopify store owners to help them to calculate all their expenses in real-time. When you are just starting your ecommerce, you should know what tool gives you a profit and what instruments are useless, what is your customers’ geography and so on. So, what else can this app do?

• Tracks your products pricing
• tracks your advertising costs (Facebook, Google, and Snapchat ads)
• categorize your expenses
• identify and scale your products by revenue
• analyzes your orders’ profit
• allow importing your fees on Shopify and all Shopify apps that you use to show you how much you spend.

When you choose the proper accounting software, remember that all kinds of business are unique, so the requirements can be different. It would be better to start with a free trial version of the product to see how it works in your case. Check our blog to find other helpful tips for beginners in ecommerce!