Imagine spending another Sunday manually entering data into QuickBooks to keep your ecommerce store afloat. Or, spending time talking with angry customers because they got the wrong product (or didn’t get anything at all.) While these tasks are necessary to run your business, they actually don’t directly lead to additional sales.
As a business owner, your time is your most valuable asset.
Wasting time manually entering data into QuickBooks or spending time with people you love was probably not what you envisioned when you started your business!
What’s the secret of businesses owners who are making 7+ figures a year without being chained to their desk?
The answer is automation.
The more tasks you automate, the smoother your business will run, and the more you will get back control of your most precious asset: your time
3 Ways to Avoid the Time Traps of Running Your Ecommerce Store
#1: Automate Your Data Entry Into QuickBooks
Manual data entry will prevent your ecommerce store from scaling. If you keep relying on manual data entry, your business might survive (assuming you give up your weekends), but it’s going to be very hard to increase your sales, partner with other companies, and gain the visibility that you imagined when you started your business.
Manual data entry leads to several problems:
- It is expensive: whether you are the one entering the sales manually in QuickBooks or you hire someone to do it, manual data entry is costing your business time and money
- Human errors: there is an infinite number of ways that manual data entry can lead to accounting errors, which will cost you even more time and money down the line.
- Upset customers: Imagine getting a one-star review for your product on Amazon because the customer got the wrong item. It happens all the time!
- Lost opportunities: The time and money that you spend on having the data entered manually could be spent on searching for new partnerships, talking to customers on the phone, or developing your new product.
Most business owners estimate that manual data entry takes bout 10 hours a week. That’s over 500 hours a year, or 12 work weeks! If you’re paying someone $30/hour, that’s $15,000 a year, not including payroll taxes, and the headache of managing manual data entry!
What if you could spend 500 hours or $15,000 a year on partnership opportunities, or designing a new product?
When you free yourself from manual data entry, it opens up more business opportunities, more time to spend with your family, and most importantly, more energy to do the things you love the most.
#2: Implement Automated Inventory Management
When your inventory is mismanaged, your ecommerce store will run into several problems:
- Overstocking: having a bigger than necessary inventory can tie up a lot of your capital. It may also be expensive to rent the space necessary to stock your inventory. In addition, if your products have a shelf-life, they may expire or deteriorate if you cannot sell them on-time. The value of your inventory is listed on your taxes.
- Over-selling: if customers buy products that are out of stock, you will need to process refunds and you will ruin your reputation. Your seller rating on Amazon and eBay will decrease and fewer customers will purchase.
- Lack of scalability: whether your challenge is overstocking or over-selling, you cannot scale if you don’t have a system for managing your inventory.
- Poor business decisions: it is impossible to make good business decisions if you don’t know how much of each product you are selling. For example, one of our customers realized that almost 90% of his sales came from Amazon. After that, he stopped selling his products on almost all other sales channels.
An inventory management tool like Ordoro can help you to automate many tasks related to your inventory and to always have product on hand .
#3: Stay Up to Date on Your Books During the Year
We see this every April; as soon as tax time gets close, small business owners approach us because they need help getting all their sales from the previous year into QuickBooks. While historical syncing of a few weeks for your ecommerce store is manageable, waiting until tax time to get your books in order for a whole year is logistically challenging. If your books are out of date for most of the year, it leads to several problems:
- You fail to write-off expenses to the IRS and you pay more in taxes. This is true if you fail to record the value of inventory in QuickBooks. The expenses are subtracted from your gross income.
- You fail to track Accounts Receivable. You might run out of cash, and not be able to pay your vendors, staff, or even yourself.
- You oversell product because you are unsure of inventory. If you sell on Amazon, then your seller rating decreases.
We know that keeping your QuickBooks up-to-date is not the favorite part of your job as a business owner. By automating many of the bookkeeping tasks you will be able to put your focus where it matters: making sales, delighting customers and growing your business.
As a business owner, you need to automate as much as possible so the business can run smoothly without you.
Is Connex the Right Tool For You To Expand Your Business to Multichannel Ecommerce?
Most of our customers sell on multiple e-commerce channels. For example, Woocommerce, Shopify, Magento, and ShipStation, just to name a few.
They want to grow their business, and they also value the peace of mind from knowing their books are always up to date and they can serve their customers.
Why Our Customers Choose Sync with Connex
- Developed specifically e-commerce business owners
- You can scale your business by automatically syncing sales & inventory from multiple e-commerce platforms to QuickBooks Desktop or Online.
- You don’t have to spend your resources manually entering sales, inventory, and customers into your website and QuickBooks accounts.
Recommended by Intuit itself, Connex for QuickBooks will give you peace of mind that your inventory will be updated. You will be free of the frustration of oversells and missed items.
- When your inventory is up-to-date, you can achieve higher customer satisfaction, leading to more positive reviews, and increased sales.
- For phone orders, we can sync sales from QuickBooks to your shipping solution.
- If you sell on multiple channels, you can simplify by using our solution instead of multiple tools.
- Connex integrates QuickBooks with all major e-commerce platforms, such as Woocommerce, Shopify, Magento, Amazon, and e-commerce shipping solutions such as Shipworks, Ordoro, ShipStation and ShippingEasy.
How can you decide whether Connex is right for your business?
During this introductory call, you will discover how Connex can help you to:
- Eliminate manual data entry into QuickBooks Online or QuickBooks Desktop
- Automatically update your inventory and prevent oversells and refunds
- Manage sales from multiple channels in one app
- Connect your shipping solutions to QuickBooks
- Have accurate financial information in your QuickBooks every day
Are you unsure whether Connex is right for your business?