Integrated accounting software – make bookkeeping simple
The mathematician Luca Pacioli isn't well-known, but he arguably had a bigger impact on the world than most famous historical figures. Why? Because Pacioli – a Franciscan friar who taught Leonardo Da Vinci – was responsible for introducing the double-entry accounting system to the world.
Based on methods used by Venetian merchants during the Italian Renaissance, Pacioli produced accounting manuals, journals, ledgers, and other guides that mean he’s known as 'the father of accounting'. And some of the accounting techniques he documented are still in use today.
Though we still use some of the accounting systems Pacioli introduced, thankfully the tools that help businesses put them into practice are much more modern – automating and streamlining accounting and bookkeeping processes for companies and entrepreneurs.
One of those tools is an integrated accounting solution, which combines various accounting functions in one application. Using this type of software can provide these things:
- Accurate bookkeeping
- Efficient reporting
- Improved collaboration
- Better decision making
The best integrated accounting software solutions integrate seamlessly with your other tech and make sure your business’s financial records are always up to date. They give you (and your team members) a real-time view of your firm’s financial health, allow for better collaboration, and help you quickly make business-critical decisions.
Ecommerce accounting integration features
Most accounting integrations perform several essential functions, including these things:
- Automate accounting processes
- Track accounts receivable and payable
- Manage general ledgers
- Streamline billing and bookkeeping
Some also offer additional features and functionalities such as inventory tracking, cash flow tools, multi-currency, time tracking, expense tracking, and advanced financial reporting.
When looking for the best accounting software for your online business, it's essential to consider the cost, how easy it is to use, and that it offers all the features you need. You should also consider whether it will scale with your business as it grows.
Another key consideration is determining whether it integrates with the other tech that your business uses, including your website (or chosen ecommerce platform), payment service provider, and inventory management systems. By using accounting software that seamlessly connects to your tech stack you can automate as much as possible and ensure you always have the financial information you need to drive growth.
Best accounting software for UK ecommerce businesses
Here at Mollie, we provide an all-in-one solution for payments, funding, and money management which seamlessly integrates with leading European accounting software providers. That includes Xero, a global small business platform that helps companies automate everything from accounting and enterprise resource planning to HR and customer relationship processes.
What Mollie and Xero offers your business
- Effortless invoice payments: Add a Mollie payment request link to your Xero invoices, allowing your customers to pay with the click of a button.
- Multiple payment methods: Accept more than 25 payment methods, including Apple Pay, card payments, and leading European options.
- Streamlined reconciliation: After receiving any payment via Mollie, you’ll automatically be able to see the transaction data in Xero and reconcile it with just one click.
- Multilingual support: Our multilingual customer service and technical support teams are ready to support you whenever you need help.
- Easy integration: Integrating your Xero account with Mollie can be done in just a few clicks.
More than just payments with Mollie
Here at Mollie, our mission is to help businesses maximise sales and drive growth. We do that with an all-in-one solution that combines a best-in-class checkout, leading payment methods, and advanced financial management tools.
As well as integrating with a number of leading accounting integrations, we seamlessly connect with ecommerce platforms and a range of other tech solutions – including CRM, ERP, invoicing, and subscription tools.
Sign up and you also get access to the Mollie Dashboard, which helps you manage payments, simplify accounting and reports, and access data and insights to optimise your business.
Want to find out more? Explore how we can help your business with the Mollie Dashboard demo.