Starting and operating a small business is now a million times easier than it was 20 years ago. With new technologies popping up left and right, you can now get everything you need with just a few clicks of a button. Neto, the end-to-end eCommerce platform is one of these innovations.
Neto gives its users an effortless way to build an online store for practically anything. From smartphone cases to large machinery, your Neto online store is sure to provide you with an edge over your competition. Neto’s comprehensive set of features allow you to manage orders in a single place, streamline your processes, manage your inventories, and more!
Solid E-Commerce Bookkeeping With Neto’s QuickBooks Integration
With Neto’s two-way integration feature, you can seamlessly synchronize your eCommerce data to your QuickBooks Online account. Neto’s QuickBooks integration allows you to support your business with additional functionalities like creating business activity statements, managing your goods and services taxes, issuing invoices, and more! The integration also allows users to monitor their employee payroll and our seasoned team of eCommerce bookkeepers are then able to easily reconcile your payroll reports.
With Neto’s Quickbooks Online accounting integration, you can:
Synchronize stock figures between QuickBooks Online and Neto
Record receivables by exporting orders to QuickBooks Online
Create a duplicate record of your customer information on QuickBooks Online
Save your product listings on QuickBooks
Record payments directly to your QuickBooks Online account
Create reports your eCommerce accountants can use to manage your business
You can integrate Quickbooks to your Neto website through Neto’s dashboard. However, if you wish to avoid any errors in this process, our knowledgeable team of eCommerce accountants has got your back. We can help you make sure that your Neto-QuickBooks is integrated correctly so that it works as it should.
Improve Your E-Commerce Tax Planning Strategy
Your eCommerce tax strategy is one of the most vital aspects of your eCommerce business’s financial health. One mistake in this area can result in penalties or surcharges courtesy of our friends at the IRS. Fortunately, Neto includes tax features that can make your eCommerce tax planning process much easier.
If you sell products internationally, you can use Neto’s tax settings to comply with international sales tax laws. You can also manually update the list of items that are considered exempt from these taxes. With Neto, you have two options to do this update. You can either record the items one-by-one, or with the In Bulk option. By using the In Bulk option, you can download an upload file from Neto where you can insert all the exempt items. After importing this file to the system, Neto will allow you to sort the data to provide you an updated list of tax-exempt products.
Taxes can sometimes be tricky especially for eCommerce businesses even when using a fantastic tool like Neto. Here at Fusion CPA, we have a dedicated team for eCommerce tax specialists that can help you monitor, manage, and calculate your taxes so you won’t have a worrisome tax season in the future.
Financial Metrics That Help Can Grow Your E-commerce Business
Financial statements are the easiest way for you and your investors to monitor the financial health of your business. They give you a guideline on how you can further improve processes in your eCommerce business. Additionally, the government can sometimes obligate companies to submit certain types of financial statements rather quickly.
Neto offers an innovative retail dashboard to give you an all-in-one monitoring platform for your business. Accounting reports such as Sales Summary, Returns, Refunds & Credit Summary, and Aging of Receivables give you a detailed view of your store's periodic performance. It also offers inventory reports to help you analyze your stock inflows and outflows. This feature comes with a Restock and Out of Stocks Notifications to alert you when it's time to issue purchase orders. On the other hand, Neto’s Cost Analysis Report helps you analyze the average costs of your products over a period of time.
Our experienced team of eCommerce financial advisers can help you formulate business policies with the help of Neto’s financial reports. Here at Fusion CPA, we can help you understand the financial trends in your business so you can identify potential opportunities. We also provide e-commerce CFO advisory services for eCommerce entrepreneurs who want to reach new levels in their business. If you want to learn more, call us now!
This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.