What is a QuickBooks Online (QBO) sync app used for?
Sync apps allow you to pull data from your "front end" system into QBO automatically.
Front-end systems are what's used to capture sales when a customer buys. Examples range from POS for restaurants to eCommerce platforms like Shopify and Amazon, where customers can make purchases.
Many eCommerce sellers start off tracking their accounts in a spreadsheet. This can be a time consuming and frustrating task and often results in haphazard books. A sync app can solve this by doing all the heavy-lifting tasks for you.
With that being said, here are the top things to consider when choosing a QBO sync app:
- Make sure they don't bring in every transaction into QBO. This will clutter QBO, slow down reporting, and makes reconciliation a nightmare.
- Reconciles payments to bank deposits automatically, so you're not stuck with doing it manually.
- Good customer support with a quick response.
- It offers a free trial for you to try it out and see if it suits your needs
- They understand accounting, not just the tech side of things.
- It provides a fair breakdown of details to match your QBO chart of accounts.
Posts summarized sales to QBO/Xero as journal entries automatically daily - i.e., when sales actually occur!
Posts Shopify payouts with fees broken out as journal entries to QBO/Xero. Each posting is reconciled to sales orders. Amounts will match deposits received in the bank. Users can “match” deposited transactions in the bank feed.
You can connect multiple stores under one QBO account letting you easily switch between stores. Each store can be mapped to different ledger accounts, classes, and bank accounts.
Bookkeep will calculate the total cost of the products you sell via your Shopify store for each day’s orders sold and send a summarized journal entry to QBO/Xero. This lets you accurately record changes in inventory and cost of sales. This feature is an additional $10 per month.
Breaks out tax by jurisdictions for US and Canada so you can charge the appropriate tax rate based on customer location and remit tax to the appropriate jurisdiction.
Can break out product categories as set up in Shopify/Square and book them into relevant ledger accounts. You can also book sales by different payment processors and or marketing channels based on how it’s set up in Shopify.
Lets you import unlimited historical Shopify data upon request.
Starts at $9.99 for up to 200 orders per month. Comes with a 14-day trial.
Pulls all orders into QuickBooks Online that can slow down QBO.
Pulling in all unique sales transactions into QuickBooks makes it almost impossible to reconcile Shopify payouts. Bold isn’t built to handle automatic reconciliations.
You cannot connect more than one store at a time. Authenticating a second Shopify store will cause the first store to become disconnected.
Bold does not support integration of Cost of Good Sold.
Tax agencies and their associated tax rate are automatically set up based on your imported orders. You can also run reports to see how much you owe in taxes.
Does not support product categories.
Allows you to export Shopify data into QuickBooks Online by date range on a transaction level.
Starts at $19.99 for up to 200 orders per month. Comes with a 14-day trial.
Posts summarized sales to QuickBooks only when Shopify creates a new payout, not when sales actually occur.
Posting summarized sales to QuickBooks only when Shopify creates a new payout allows for entries to spill into other months—i.e., when payouts are batched for sales from the 30th of the month to the 1st of the next month.
There is no limit to the number of accounts you can have under one login and it is simple to switch between multiple accounts in A2X.
A2X calculates the cost of goods sold per SKU for each payout and post an entry to your accounting system deducting the total cost of goods sold from the inventory asset account to allocate to the COGS expense account.
Need another app like Tax Jar to break tax down to state levels.
Lets you assign ledger accounts to each product category in Shopify, so they go to the correct account in QBO. Also lets you pull in payout made from multiple payment processors.
Lets you import up to 24 months of historical Shopify data by default.
Starts at $19 for up to 200 orders per month. Comes with a 30-day trial.
Lets you build workflows to pull in all orders when they’re created in Shopify—pulling in all orders bogs down QBO.
It’ll match payouts to bank deposits but doesn’t reconcile payout to orders. Reconciliation is still a manual process, requiring you to match sales records via QBO.
There is no limit to the number of accounts you can have under one login and it is simple to switch between multiple accounts in OneSaas.
No COGS feature.
It lets you sync tax codes in your store to corresponding sales taxes in QBO.
Lets you set up a workflow to map class assigned to each order when syncing from Shopify to QuickBooks. It does not let you track orders by sales channel.
One month of historical data is included in their Starter plan.
Starts at $19 for up to 100 orders per month. Comes with a 7-day trial.
Pulls all orders into QuickBooks processed by multiple payment processors—pulling in all orders slows down QBO.
It’ll match payouts to bank deposits, but doesn’t reconcile payout to orders. This means reconciliation is still not fully automated.
There is no limit to the number of accounts you can have under one login at the moment, but there will be limitations in the future depending on the plan you’re on.
No COGS feature.
It’ll bring over sales tax for each order to QBO.
Their starter plan allows you to sync up to 3 months worth of historical data.
Starts at $19.99 for up to 100 orders per month. Comes with a 30-day trial.
Lets you control which orders to pull in from Shopify into QuickBooks Online at preset intervals based on your plan.
You must manually reconcile your deposits using their match deposit tool- not an ideal way to reconcile.
Each Shopify store is treated as its own separate connection with their own sync settings.
Connex matches the product SKU in Shopify to the SKU field in QuickBooks when it syncs a sales receipt to QuickBooks. Each order will decrement inventory in QuickBooks. QuickBooks will debit COGS and credit inventory assets for each order that Connex syncs.
Sales tax can be added as either a line item or you can match existing QuickBooks tax codes based on the city, county, or state to QuickBooks.
Does not support product categories.
Historical data will not be automatically synced.
Starts at $69 for up to 6000 orders annually. Comes with a 14-day trial.
Bottom line: sync apps will change the way you do bookkeeping and view your business
In our experience, we often see business owners end up falling behind on their books after realizing how grueling it is to do manual bookkeeping.
This is a massive risk to the business you've built. Not only can you run into issues with taxing authorities, but you're setting your business up to run on "blind financials."
When you're just looking at the amount posted to your bank account, you're missing out on a whole slew of other expenses, which can cause cashflow issues.
For busy eCommerce store owners, an easy way to bypass this is to automate their bookkeeping process by using a sync app.