Keeping track of your finances is vital for any business owner, and Xero is a great way to do that. But what if you’re also selling products online? In that case, you’ll want to integrate your Shopify account with Xero to keep track of your inventory and sales in one place.
To integrate Xero with Shopify, the first step is to install Xero on Shopify. Once the app is installed, you can set up your payment information and import your customer data into Xero.
Integrating Xero with Shopify
1. Connect the Shopify App to Xero
The first thing you need to do is connect the Shopify app to Xero. Here’s how to do that:
- Go to the App Store in your Xero account.
- Click on the Shopify app.
- Click on the “Get this app” button. (You’ll need a Xero account to download this).
- Enter your store address in the field provided. For instance, if your store URL is “www.mystore.com“, you would enter “www.mystore.myshopify.com“.
- Click the “Connect” button to continue.
- Install the Xero integration app in Shopify.
Once your organization is connected, it’s time to install the Xero app in Shopify. That will give you access to your inventory and customer data on both platforms, allowing you to manage everything from one central location easily. Here’s how to install the Xero app:
- Log in to your Shopify account.
- Click on the “Apps” button in the left-hand menu.
- Search for Xero and hit “Enter“. You should find the Xero app with its logo on the next page.
- Click the “Add app” button to continue.
- Set up the payment, invoice, and bank account options.
Next, you’ll need to set up the following options within Xero:
- Payment: Choose the payment method you want to use for your Shopify orders. Examples may include Stripe, PayPal, or another third-party payment gateway.
- Invoice: Ensure an invoice template is created for your Shopify orders in Xero.
- Clearing account: Choose a clearing account for your invoices and payments to be deposited into.
- Bank account: Select the bank account where you want to deposit your Shopify sales.
2. Import your previous data into Xero.
Before you can get real-time updates on your inventory and customer information, you must import your past orders, invoices, and other business data from Shopify into Xero. This way, you can see comprehensive information in one place and keep all of your financial information accurate.
In addition, here are a few benefits of integrating Xero with Shopify:
- You can easily manage your inventory, customers, and sales across both platforms.
- You can get real-time updates on your business performance, allowing you to make data-driven decisions.
- You will have access to powerful reporting tools that provide insights into your business performance over time.
Caveat: Xero does not factor in sales tax, so there might be better options if you run tax-heavy businesses or sell products subject to sales tax.
3. Finish the setup process and start using Xero.
Once your options have been configured, follow these steps:
- Click on the “Finish & connect” button to continue with the setup process.
- Start using Xero to manage your business data and make informed decisions about your inventory and customer base. And with the help of Shopify, you’ll be able to sell products online more efficiently than ever!
Of course, integrating Xero with Shopify is just one part of running a successful eCommerce business. To thrive in the world of online sales, you’ll also need to:
- Build a strong marketing strategy.
- Focus on customer service and satisfaction
- Continually evaluate your products and services to ensure they meet your target audience’s needs.
Wrap up
If you’re looking for an easy way to manage your inventory and sales data across multiple platforms, integrating Xero with Shopify might be the perfect solution. With just a few simple steps, you can connect these two powerful tools and take advantage of their many benefits.
Remember, Xero does not consider sales tax, so there may be better options for tax-registered businesses.
