Salesforce Quickbooks Integration

Business accounting is an arterial function of a business that indicates performance on parameters of income/expenditure and statutory compliance. It also provides investors, management with factual financial information which helps make business decisions. 

The right accounting software ensures that managers effectively manage financial operations and systematically track business finances. 

Cloud accounting software has been popular since the last decade. In fact, this cloud software has replicated the traditional on-premise accounting software. The difference here is that the accounting software is hosted on remote servers, similar to the SaaS (Software as a Service) business model. 

Data is sent on to “the cloud,” where it is processed and returned to the user with the application functions performing off-site. With cloud accounting software, businesses are freed from the conventional hiccups of managing a software application and can focus on being more mobile-capable. A major benefit of any cloud-based accounting software is the data backup feature and disaster recovery that is often a part of your account.

“In 2019, the global Cloud Accounting Software market size was USD 2984.2 million and it is expected to reach USD 4567.9 million by the end of 2026, with a CAGR of 6.2% during 2021-2026”-Marketwatch

Cloud accounting has a variety of benefits and largely remains an ideal solution provided according to the criteria of cost, size of the business, and meeting problems with exact answers. 

This is one of the reasons why small and medium-sized businesses chose to stay away from the revolutionary wave of accounting software for a long time. Standalone accounting software solutions were not feasible for bootstrapped businesses as they demanded a substantial investment in IT infrastructure. 

The cloud-based accounting sector has still managed to come up with solutions to big enterprises for smaller businesses. With the monthly pay-as-you-go model being not offered, SaaS accounting software has proven to be a boon for small businesses to manage their finances with ease.

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What Is QuickBooks?

 

QuickBooks is software that helps keep track of all accounting transactions such as invoicing tax filing, payment billing, and more on one platform. It is most sought after by SMBs. 

The QuickBooks product line includes many services that work well for small businesses. Small businesses use this application to manage invoices, pay bills, cash, and also to generate taxes quarterly and yearly. QuickBooks automatically keeps track of bills and money by connecting the bank and credit card accounts. 

In short, QuickBooks helps businesses access all relevant data and provides valuable insights from them considering such features are mostly pre-built in QuickBooks and can be generated in no time at all.

 

The Need to Integrate Quickbooks with Salesforce

 

Depending on their core functions, most businesses function with additional software applications. This could be used for tracking customer contacts, project management, issuing proposals, managing leads, managing payroll, or running an e-store. 

Now if the accounting software does not communicate with the relevant ERP, CRM, or any other third party application, there may be redundancy in the data shared and lack of a transparent working mechanism. 

It is not only important to understand the premise of integration, but it is also critical to assess the scale of operations, the number of transactions that occur with customers day-to-day, and determine how much of it is relevant. 

The benefits of QuickBooks integration with a robust CRM play a role in scaling the business by synchronizing the data from QuickBooks to CRM. This influences the aspect of lead conversion through data visualization from the CRM end. This integration achieves the following:

  • The operational costs incurred are reduced.
  • The all-round optimization of operations and enhanced productivity are realized.
  • Customer service can be improved.
  • Informed business decisions can be made.

A robust and feature-rich CRM with over 150,000 customers is Salesforce. It can handle all the functions of the business including customer service, sales, and accounting. The cloud-based application includes an array of applications for the aforementioned functions and can link all of the relevant business data into a single unified system. This helps businesses to now operate the entire front-to-back office in a single window.

Salesforce QuickBooks Integration renders complete visibility into business performance as well as highlighting the scope for improvement. While both QuickBooks and Salesforce have different functionalities, the accounting system and CRM can work in tandem to share data between sales and accounting. 

The process of integrating QuickBooks and Salesforce helps build a software system that makes it easy to click and access any important business data (be it financial, banking, payment, taxes, etc.).

 

Specific Benefits of Salesforce Quickbooks Integration for Accounting Businesses:

 

  • Helps to optimize integration time as the data flow is bidirectional.
  • The sales team has access to a detailed analysis of the sales pattern within Salesforce.
  • The balance sheet is easily monitored and checked for open balances and credit limits from within the Salesforce environment.
  • All details of every customer can be tracked with the help of Salesforce. (Credit, invoice settlements, sales history order information, etc.).
  • Helps reduce data redundancy errors.

 

The Last Word

 

The unforeseen situation and its impact on economies the world over have businesses struggling for survival and grappling with prudent cost management techniques. This is now of greater concern to smaller businesses. 

The Salesforce and QuickBooks integration helps businesses to operate smoothly while even adapting to the new normal of working from home. An integrated online accounting environment keeps all business owners connected to their data and as well as to their accountants. This system can be customized to embrace and integrate with an entire ecosystem of third-party business apps. It’s scalable, cost-effective, and easy to use. Because it is in the cloud, a need to invest in new infrastructure gradually becomes redundant.

Now all of this depends on the right choice of an integration services partner.

 

Choose AppShark For:

 

  • An end-to-end inclusive financial ecosystem that renders data with the utmost accuracy and reliability.
  • Capitalizing on the robust features of the Salesforce CRM.
  • A highly customized integrated environment that is designed for sustainability and scalability.

AppShark is both a Salesforce Gold Consulting Partner and a Product Development Partner based in Dallas, Texas. Our implementation process (which includes customization, set up, and configuration) has been perfected through the many years served in the Salesforce industry. 

We also provide software integration services including strategy, development, and management to enable a continual flow of information from the cloud, premise to premise, or from cloud to premise platforms.

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