Xero is known as a Cloud-based Accounting software platform best suited for medium and small-sized enterprises. Xero can automatically handle tasks that previously consumed a major chunk of your time. It can do everything from sending invoice reminders to importing bank transactions. Shopify is an eCommerce platform that allows you to sell products in-person, on Facebook, or anywhere online. It is backed by powerful tools that help you drive sales, find customers, and manage your day-to-day.
This blog talks about Xero and Shopify in detail. This includes its key features and benefits. The article then talks about the 2 easy steps involved in setting up Shopify Xero Integration.
Table of Contents
Introduction to Xero
Xero ensures that your business data is stored safely in a single place. This allows you to capture snapshots of how your business is tracking easily. It also allows you to invite your bookkeeper or accountant into Xero so they can make sure you meet all your tax obligations. Xero makes it easy to operate your Xero tools from anywhere and access data by simply connecting to the internet. With Xero’s mobile app you can keep all your essentials like payroll and invoicing at your fingertips.
With Xero, you can also drive profitability with Xero Projects. Since it is fully integrated with Xero you can keep all your business information in one handy spot.
Here are a few key features of Xero that make it an indispensable tool in the marketplace:
- Claim Expenses: It allows you to simplify employee expense claims. With Xero, you can access analytics to make informed decisions and approve claims without delay.
- Pay Bills: Xero allows you to track and pay bills on time. It also provides you with a clear overview of cash flow and payable accounts. You can even make batch payments and schedule them for convenience.
- Accept Payments: You can use online invoice payments like GoCardless and Stripe to safely accept direct debits and credit card payments. You can also add a ‘Pay Now’ button to your online invoices to get paid from the invoice.
- Bank Connections: You can connect your bank to Xero and set up bank feeds easily since it ensures a reliable and secure bank connection. You can stay on top of your business by keeping track of the influx and outflow of money daily.
- Manage Contacts: Through efficient Contact Management, Xero allows you to see the details of a supplier’s or customer’s sales, payments, and invoices in a single place. You can also generate groups and lists from saved searches and see all your email correspondence in Xero.
- Track Projects: With Xero, you can quickly prepare quotes based on your estimates and turn the quotes into invoices for online payments. Xero also allows you to monitor profit margins on a dashboard.
- Reporting: Xero allows you to track your finances with comprehensive and accurate accounting reports. You can decide what goes into each of these reports and use formulas to compare budgeted and actual amounts.
- Capture Data: Xero leverages Hubdoc to get copies of original documents and key data into Xero automatically. This eliminates the need for manual data entry. You can also seamlessly reconcile data with bank feeds and access receipts and bills from anywhere.
- Multi-currency Accounting: Xero allows you to pay and get paid in over 60 currencies. Xero lets you view reports in foreign or local currencies and see how currency markets affect profit or cash flow.
Introduction to Shopify
Shopify is an e-commerce platform that helps businesses to create online stores and sell their products. They also have an online retail point of sale system (Shopify POS) where merchants can sell their products in person. It is designed for all businesses regardless of their sizes. Shopify provides a set of tools and services such as payment gateways, shipping, marketing, and customer engagement so that users can grow their business easily.
Shopify has built-in capabilities that allow users to analyze customers’ data. However, businesses/organizations need to store this data in a database because it allows them to gain in-depth insights by combining other organizational data with Shopify. This allows them to leverage the power of a full-fledged database (or sometimes a data warehouse) and overcome the limitation of Shopify analytics.
Various products or services that you can sell on Shopify:
- Physical Products: Shopify supports door-step delivery of your manufactured products such as jewelry, t-shirts, mugs, etc. You can schedule the delivery of various products using Shopify.
- Digital Products: With Shopify, you can provide digital services such as e-books, audio files, course materials, etc. to your customers.
- Services and Consultation: If you provide services like Life consultation, home-cooked delicacies, event planning, or anything else, Shopify has got you covered.
- Memberships: Various memberships such as gym memberships, yoga classes memberships, event memberships, etc. can be sold to the customers using Shopify.
- Experiences: Event-based experiences like adventurous sports and travel, mountain trekking, wine tasting, events, and hands-on workshops. You can use Shopify to sell tickets for these events as well.
- Rentals: You can also promote and advertise various types of rental services such as rental taxis, furniture, gadgets, etc. using Shopify and engage with customers in a better and more efficient way.
- Classes: You can advertise online tutorials on Shopify, allowing customers to subscribe to various online courses such as studies, fitness, yoga, etc.
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Understanding the Xero Shopify Integration Setup
Here are the steps involved in setting up Xero Shopify Integration:
Xero Shopify Integration: Export Data from Xero in CSV Format
To export data from Xero you need to carry out the following two steps:
- Step 1: Select the data entity you wish to export
- Step 2: Click on the Export button. This leads to a CSV being downloaded on your device. Here is an illustration of a Xero Invoices Export to give you a better idea:
Xero allows you to export data associated with cheques, budget, fixed assets, accounting data, bills to pay, charts of accounts, and much more in the CSV format.
Xero Shopify Integration: Import CSV to Shopify
Once you have your Xero data in a CSV format, you can complete the Xero Shopify using the following steps:
- Step 1: Before exporting to Shopify, make sure that the file matches the CSV file format. The import will fail if it doesn’t match the format. You also need to make sure that your CSV file does not exceed the file limit (15 MB).
- Step 2: From your Shopify Admin page, navigate to Products > All Products, and click on Import.
- Step 3: Click on the Choose File button in the Import Products by CSV File window.
- Step 4: Select your Xero CSV file, then click on the Open button.
- Step 5: Click on Upload File to complete the Xero Shopify Integration.
This blog talks about the steps you can follow to establish Xero Shopify integration in a seamless fashion. It also gives a brief introduction to the features, benefits, and use cases of Xero and Shopify before diving into the steps involved in Xero Shopify Integration.
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