Dext Commerce and QuickBooks
Dext recently acquired Greenback to launch their third product on the Dext platform, Dext Commerce, an app that formats information from sales platforms and standardises it ready for processing through to QuickBooks Online.
Dext already had Dext Prepare in place, originally a place purely for expense receipts, now with Commerce, they are reaching further into the revenue side of your business. E-commerce is an industry that has only accelerated in growth during the pandemic, meaning the need for improvement in integrations with accounting platforms became quite prominent.
What does it do?
Dext Commerce fetches sales data from over 20 e-commerce, payment and point-of-sale platforms and splits the transactions out line by line. These transactions include sales, fees and refunds, something that has not been so common on integrations in the past.
There are integrations available for many of the large e-commerce platforms such as Amazon, eBay, Shopify and Etsy. Key features are designed with Making Tax Digital in mind for UK based users, as they include a digital record of sales transactions in a line-by-line format. Tax reporting is also a key function, ensuring that users report and pay the correct sales tax depending on where they sell.
Who can it help?
It seems that the main target audience of Dext Commerce is a company selling on multiple different platforms, with the requirement to standardise this data in order to post through to an accounting system.
The use of multiple different platforms doesn’t necessarily mean different a mixture of websites, but it could mean a mixture of marketplaces, such as with Amazon. If you sell through multiple Amazon marketplaces in different countries, each of these will need an individual integration to QuickBooks, all of which can be done through one Dext Commerce subscription.
How does it work?
It is a 3 stage process to process items through to QuickBooks from Dext.
Stage 1 – Dext Commerce automatically fetches itemised transactions from your integrated platform.
Stage 2 – Data is then standardised in Dext, formatting each transaction from different platforms into the same format.
Stage 3 – You can then publish your data from Dext to your QuickBooks account with as much detail as you need, including fees, discounts, taxes and product detail if required.
If you want to get the most out of your QuickBooks account, you can book a training session with a member of our Cloud Management Team.