6 Best Accounting Software for Shopify (2024)

To properly manage your Shopify store and business effectively and efficiently, you will have to keep good accounting and track your efforts, sales, etc. You must know that even if you are a professional accountant, you have to go beyond old business bookkeeping techniques that take lots of time, effort, and professionalism to incorporate software to make your accounting earlier and faster.

While Shopify will give you some accounting feature to keep a record of your sales, stock, and refunds, that is not enough.

Shopify asserts that its sales grew by 47%, from $1.8billion to $2.9 billion in 2020, and we know that you would love to be at your best to increase the number of sales you make out of this great number of Shopify sales. You will need the help of the best accounting software for Shopify that will give you the effectiveness and efficiencies you would desire.

In this article, we list the best accounting software for Shopify. Let’s take a look!

Upfront Conclusion

The best accounting software for shopify right now is Freshbooks and QuickBooks.

Best Accounting Software for Shopify Ranking.

Freshbooks – top easy-to-use interface for Shopify.
QuickBooks – overall best accounting software for Shopify.
Sage Business cloud – best accounting software for small Shopify stores.
Xero – best integration with Shopify.
Odoo – top open-source accounting software for Shopify.
Bench – ideal for scaling and growth for Shopify.

1. Freshbooks

Coming as a runner-up to Quickbooks in our research of the best accounting software for Shopify is Freshbooks, a cloud-based accounting software founded in 2003. It offers the best easy-to-use interface for

Shopify store owners and has excellent tracking for your Shopify sales.

It also offers integrations with many apps and platforms such as Stripes and. V to make your Shopify experience great.

Pricing

Its entry price is $15 per month for the Lite plan, including up to 5 billable clients.
Plus plan: $25 per month for up to 50 clients.
Premium plan: $50 per month for up to 500 clients.
It also offers free 30 days trial.

We recommend that you buy the premium plan as it will amplify your Shopify experience. 500 billable clients. Is that nice?

Features

It automatically creates invoices for you.
With Freshbooks, you will get tracks of all income and expenses.
It gives you insightful time tracking.
It also offers you seamless collaboration on projects with other teams.
It can also serve as your online filing system for files, conservations, etc.
It comes with an easy-to-understand double-entry accounting system.
Compactible with mobile versions that let you work from anywhere and at any time.

Why Do We Recommend Freshbooks?

We recommend you Freshbooks as one of the best accounting software because of the great easy-to-use interface that Freshbooks offers Shopify store owners who are largely small and medium businesses and are hardly well versed in accounting and bookkeeping.

Also, you can easily access your Freshbooks through a desktop or mobile phone – keeping you updated even on the go.

Try Freshbooks

2. QuickBooks

Quickbooks is the most popular accounting software option to grace our list and is also the top best accounting software for Shopify. It offers you a lot of features coupled with third-party integration with QuickBooks. People always love it for its nice user interface.

Developed by Intuit, Quickbooks is great for Shopify accounting because of its scalability feature.

Pricing

Its starting price is $7.50 per month for the self-employed plan.
Simple start: $12 50 per month
Essentials: $20 per month
Plus plan: $35 per month hi
Advanced plan: $75 per month.
QuickBooks also offers you a 30 days free trial.

We recommend the self-employed plan because good for small businesses, a good value for your money, and you can easily switch to another plan if you need to.

Features

Quickbooks online lets you easily track your Shopify orders and stock.
You can automatically create and send customizable invoices and receipts to customers.
You can also track time, income, and expenses.
Easy access to your profit or loss and balance sheets all displayed on your dashboard.
Syncs with your bank, credit cards, and other online payment platforms enabling online payment via Paypal, banks, and credit cards.
It also lets you track and schedule payments.
It offers easy compatibility with multiple users if you are not the only one managing your Shopify store.

Why Do We Recommend QuickBooks?

There are so many reasons we recommend you QuickBooks. It offers you the best integration with Shopify as well as other payment platforms and apps. This will make you run your Shopify store and bookkeeping easier and faster.

It has a very distinct user interface which is why Shopify store owners love it.

3. Sage Business Cloud

Another awesome cloud-based accounting software for Shopify is Sage business cloud. It offers small Shopify store owners’ scalability.

This means that it encourages growth, and you can easily switch from smaller plans to larger plans as the size of your Shopify store and sales increase. It also offers bank-level security as well as tools and resources to help small Shopify store owners.

Pricing

It has two plans an accounting starter plan and the sage accounting plan.

The sage starter plan, which is the entry, is $10 per month, while the Sage accounting plan’s price is $25 per month, but you will get it at $7 for the first 6 months.

It offers you 30 days free trial.

We recommend that you buy the advanced Sage accounting plan as you will enjoy all the features of Sage business cloud accounting, which is good for your Shopify store optimization. It is also a good value for your money.

Features

You can manage and track the stock in your Shopify store.
Let’s you easily accept multi-currency transactions, especially if you sell to multiple countries.
Simple calculation of the VAT of your Shopify sales.
Excellent invoicing for all your businesses.
Good income and expenses tracking. It lets you know how your business is performing.
Its features include automatic transaction matching.

Why Do We Recommend Sage Business Cloud?

There is one reason why so many Shopify store owners love Sage, and that’s the reason why we recommend it – it’s a small business growth feature. It is perfect on small businesses, including small Shopify stores with a view for growth. A rare feature.

As a cloud-based accounting software option, it also gives you top-notch bank-level security.

4. Xero

From our research, Xero has become the most popular choice accounting software among Shopify store owners and Shopify shoppers. It has earned its place in this list of the best accounting software because of its myriad of features for small businesses.

It also offers an amazing Integration with Shopify and tries its best to simplify anything that has to do with accounting and finance for you.

Pricing

The entry price is for the Starter plan at $20 per month.
The standard plan; $30 per month.
Premium plan: $40 per month.
It also offers you a 30 days free trial.

We recommend Xero’s Starter plan. It is a good value for your money while it still offers you integration with Shopify and nice tools tilted to enable you to grow.

Features

You can use it as your online marketing tool to identify a lower sales group.
It is compatible with Android, Mac, and its mobile apps let you manage your Shopify while on the go.
It includes a customizable dashboard.
Easily integrates with Katana MRP software, scaling manufacturers for your Shopify stores.
Enables multiple currency transactions and multi-currencies accounting.
Let’s you track time, income, expenses, and payments from Shopify.
Reconciliation of transactions with your bank, credit cards and make for faster payments.
Xero also offers a lot more integration with other apps and software that will optimize your efforts.
You will easily be at the top of your profit and loss cashflows and recall your balance sheets in a minute.

Why Do We Recommend Xero?

We recommend Xero for its multiple integrations with Shopify, and it also lets you do account for other e-commerce sites on the same account. Simply put, you can sync transactions, bookkeeping, and accounting with Esty, Amazon, Shopify, etc., on Xero. This will give you a general view of how your business performs both within Shopify and outside Shopify.

5. Odoo

This award-winning cloud-hosted open-source ERP accounting software is another tool for Shopify optimization that has made its place during our research of the best accounting software for Shopify. Founded in 2005, Odoo has come to be a favorite for e-commerce, billing, manufacturing, stores, etc.

What’s more? Odoo is customizable to fit your many purposes, easy-to-use, and has more add-ons.

Pricing

Odoo has a complex pricing system. Odoo Enterprise starts at $20 per month/user plus the price of any app that you would want.

However, it offers 14 days free trial, and the Odoo community plan is entirely free.

We recommend that you start with the Odoo community, which is free, but if you want to get more out of the product, you can go for the paid.

Features

Odoo incorporates double-entry and gives you an awesome view of how your Shopify store is performing.
Enables faster payments, tracks income and expenses.
It has an easily customizable dashboard.
It automates the marketing of your Shopify store for you.
Sales tax reporting will be made easy.
With Odoo, your BI reporting will be easier and faster.
Offers top-notch usability with Shopify.

Why Do We Recommend Odoo?

We recommend Odoo because, as open-source accounting software, it comes with all the advantages of being open-source. Its uniqueness includes the easy-to-use interface.

Odoo offers one of the greatest numbers of integration and add-ons among the best accounting software for Shopify and 24/7 customer support to help your sort out both technical and accounting issues.

6. Bench

Last on our list is American’s native accounting software, Bench. Founded in 2012, Bench has grown to become one of the best accounting software for Shopify. It is for small businesses and Shopify store owners who want to focus on their business and not accounting and bookkeeping.

Bench offers integration with so many apps to make your Shopify experience great, including gusto, stripe, Shopify, etc.

Pricing

Its entry price is $159 per month for the Starter plan. Other plans are;

Micro plan: $199 per month.
Boutique plan: 249 per month
Venture plan: $299 per month.
Corporate plan: $419 per month.

While Bench pricing plans might look pricey to you, we recommend you go for the Starter as it offers many tools and resources for growth and is also a great value for your money.

Features

Provides top-notch security with multiple types and levels of encryption.
It gives you advanced statements to let you know if you are about to hit your target or not.
It offers a lot of templates and customizable features to boost your Shopify store.
Bench integrates well with other apps and software, including Freshbooks.
Includes double-entry bookkeeping and makes your finances easy to understand.
It simplifies and makes your tax reporting easier.
It has an easy-to-use interface.

Why Do We Recommend Bench?

Americans love Bench because of the easiness and simplicity it offers small businesses, including Shopify store owners. We recommend it because it offers these small businesses scalability. There is also access to a host of resources and community to help grow your Shopify business.

So, if you require the best accounting software, that would you manage your bookkeeping as well as help you grow. The Bench is the right option for you. Though, this software doesn’t come cheap.

Final Thoughts

There is myriad accounting software in the market, but there are just a few that will get your Shopify experience to the top. Choosing the right accounting software would automate processes for you, optimize your Shopify efforts, make your accounting and bookkeeping easier and faster; it could also be the change you need to get your Shopify business scaling.

Identifying the right choice isn’t and has never been easy for Shopify store owners, so in this post, we have listed out the top best accounting software for Shopify just for you. Starting from QuickBooks -the overall best to Bench, the best for scaling and growth of your Shopify, we outlined their features, plans, prices and recommended the best plan for you.

You should know that selecting the right accounting software for Shopify should be based on your type of business and your purposes in particular. However, last ti for you that you would choose the best accounting software for Shopify in this list that could help you gain and retain customers to amplify your Shopify sales. You will see yourself scaling in the already competitive Shopify marketplace.