Bookkeep.com automates the synchronization of transaction, payment, and sales tax data from various ecommerce and POS platforms into accounting systems, ensuring daily accrual-based summaries and accurate balance reconciliation. This technology eliminates manual data entry errors and discrepancies, providing businesses with reliable financial insights and streamlined bookkeeping processes.
Funding
$9.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many e-commerce businesses struggle with the complexities of managing and synchronizing financial data across multiple sales channels and payment platforms. This often leads to inaccurate financial reporting, time-consuming manual data entry, and difficulties in reconciling accounts. Furthermore, businesses face challenges in accurately calculating and filing sales tax across various jurisdictions.
Solution
Bookkeep provides an automated accounting solution that streamlines financial data synchronization from e-commerce and POS platforms directly into accounting systems. It automates the posting of accrual-based daily sales summaries, ensuring up-to-date and accurate financial records. The platform automates sales tax calculations and filings through integration with Avalara, reducing the risk of errors and penalties. Bookkeep also automates the reconciliation of multi-channel payouts, providing clear visibility into sales, fees, and commissions, and supports multiple currencies.
Target Audience
Bookkeep is designed for e-commerce, retail, restaurant, and cannabis dispensary businesses, as well as CFOs and accounting teams managing multi-channel sales and complex financial data.
Features
- Automated data synchronization from 60+ e-commerce and POS platforms into QuickBooks Online, Xero, Zoho Books, Sage Intacct, and NetSuite
- Daily accrual-based sales summaries posted automatically to accounting systems
- Automated sales tax calculation and filing through Avalara integration
- Automated reconciliation of multi-channel payouts, including sales, fees, and commissions
- Revenue recognition based on ship date or order date for Shopify integration
- Multi-currency support for international transactions
- Historical data import to ensure accurate records from the start
- Daily email updates with sales and status information for each channel