Accounting software provider Dext has added a digital sales product to its growing platform, following the acquisition of Greenback which rebrands to ‘Dext Commerce’.
The solution helps accountants & bookkeepers take on digital sales clients profitably, as well as simplifying sales data and tax calculations for businesses selling via Shopify, Amazon, and other leading e-Commerce platforms.
Dext Commerce allows accountants and bookkeepers to take on more digital sales clients by simplifying the collection and categorisation of sales data from e-commerce, POS and payment platforms including Amazon, PayPal, Shopify and Stripe. It also integrates with Xero and QuickBooks Online, enabling accountants and bookkeepers to accurately submit eCommerce revenue into the largest accounting platforms.
The solution solves the challenge of manually fetching and consolidating sales data from multiple commerce and payment platforms in different formats. Dext Commerce simplifies sales data and tax calculations across multiple countries, allowing accountants and bookkeepers to more profitably service digital sales clients.
Key Dext Commerce features include:
A digital record of sales transactions line by line, or as a summary
Making sure clients report and pay the right sales tax, wherever they sell;
Itemise sales, fees, refunds and reimbursements data, line by line, with one subscription;
- Real time data integration
E-commerce sales in the UK and US comprised c. 35% of total retail sales in 2021, nearly doubling in the UK.
Dext CEO, Adrian Blair, commented: “Millions of businesses now sell via eCommerce platforms like Amazon and Shopify. Dext Commerce enables accountants and bookkeepers to take on these businesses as clients more profitably. Dext Commerce solves two key pain points: getting standardised data, line by line, from multiple sources; and ensuring digital sellers accurately calculate how much tax to pay in different markets.”
“Our mission is to make accountants and bookkeepers, and the businesses they advise more productive, profitable and powerful with better data and insights. We chose Greenback because we believe it is the best product for accountants.”
Dext Commerce is available to all accountants, bookkeepers and businesses in the UK, US and Canada from September 1st, with rollout in France and Australia later this year. The rollout comes as Dext deepens its relationship with Amazon Business, offering users the ability to synchronise expense data from Amazon Business with the platform, from September 1st.
Dext Commerce will be available as a standalone subscription. Anyone who purchases a Greenback subscription between now and the rebrand will keep their subscription.
What do we know about Greenback?
Greenback was founded in the US, and have a team based in Detroit, Michigan.
- Amazon seller central (Australia / Europe / North America)
- QuickBooks Online
Sales tax feature
Greenback’s Automated Sales Tax feature detects when your shop or platform has collected sales tax so we either include it as a line item in the text receipt and the Sales Tax will say “0” (eg: on the Shopify platform) or it will appear as a line item under the Subtotal where it typically appears in a transaction.
Basic & Advanced Accounting Exports
All users can export transactions one-at-a-time to their connected Xero account. Basic exports to Xero include fields for vendor/customer, account paid from or deposited to, line item account (e.g. category), tax (on a sale), and matching existing or creating new transactions and attaching the original receipt (if one is available). Advanced exports for paid users include billable customer, billable expense, class tracking, and department, cost centre/location tracking.
Custom Accounting Data Exports
With Greenback’s Accounting Data Export Preferences feature, you can customize how you would like your sales and expense data exported to Xero. Set your Time Zone, Summary or Itemized Mode, Shipping Total, Discount Total, Contact Level, and Item SKU Matching.