Using QuickBooks as a Reseller: Tips and Strategies

Posted on 04/02/2024 by Niko Venev

While several accounting software options exist, none have been able to top the ubiquity and reliability of QuickBooks. Business owners of all types use the software for bookkeeping purposes, but resellers can have particular needs that require consideration and specific action when using the program.

       

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Benefits of QuickBooks for eBay Sellers and Resellers

Perhaps the most obvious segment of the reseller market includes eBay sellers. Those who resell products on eBay, however, often need to manage their finances in certain ways. As a reseller who uses QuickBooks for accounting, you'll be given the advanced tools necessary to maintain and grow your business, even if the bulk of your goods or services are sourced from elsewhere. You'll also be able to track inventory purchases, sales, profits, and your tax liabilities.

The benefits of using QuickBooks for reselling can often largely depend on the type of products you sell. For instance, some eBay resellers soon learn that keeping track of their tangible goods requires them to use additional inventory software, while those who resell digital files may find that QuickBooks is particularly useful in organizing and tracking their financials. Digital resellers often discover that the convenient features offered by QuickBooks make it easy to manage customers who sign up for subscription billing services, too.

 

What if You're a QuickBooks Reseller?

People can resell lots of things, including software. If you're a part of the QuickBooks reseller program, you can also take advantage of the product you sell to make your life easier. Along with providing a trusted financial solution to customers, QuickBooks Solution Providers can also use QuickBooks databases to create industry reports that can help you understand your customers and plan for your company's future.

 

Reseller vs. Retailer Needs

The business needs and tools of resellers can differ from those of retailers. Resellers and retailers can often have common goals: they need to track inventory, sales, and expenses and keep on top of their profit margins. But a reseller may also work with more variations in product types, sales models, and their customer base. They also may use a variety of platforms to sell their wares, each of which has its own rules and fee structure. This can make managing resellers' finances more complex.

As peculiarities can abound in the reseller industry, it can be a good idea for new business owners to read up on accounting principles as they apply to resellers. Since tax time can be especially challenging for resellers, it's also important to keep track of all of your financial information and documents. Make it a point to separate business costs from your personal expenses. To streamline the process, you can use software like QuickBooks. As a reseller, you'll also have to closely monitor more than just customer sales: You'll have to track the initial purchases of the products, too, as well as other expenses associated with their sale.

 

Enroll in QuickBooks Courses

Countless business owners believe that there's no better accounting software than QuickBooks. For eBay sellers and resellers who use other platforms, the program can make it much easier to find success in a crowded and competitive market. To learn how QuickBooks can help your resale business thrive, enroll in one of our professional designed training courses. We offer QuickBooks Desktop courses as well as classes in QuickBooks Online, so no matter which version you prefer, we can help you learn it. Our classes are taught by a live instructor and can give you the basic or advanced skills needed to get ahead. Sign up today to get started.

 



 


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