How It Works: QuickBooks Online + Barn2Door
Farming is a unique industry with specific needs. Unlike most businesses, Farming relies on living products, whether it's crops or livestock. Due to the nature of the goods produced, Farm accounting can be complex when it comes to managing and tracking all assets, liabilities, revenue and costs. Depending on your products and location, Farming can also be a heavily regulated industry which varies significantly by state, county, and municipality.
Navigating all the nuanced requirements of Farmers is not straight forward. To help Farmers navigate the challenges of proper accounting, Barn2Door has integrated with QuickBooks Online (QBO) --- the best-in-class small business accounting solution. Together, the integration provides Farmers with GAAP-compliant accounting software that automatically syncs all Farms sales transactions occurring in their online store.
Now it’s easier than ever for Farmers to ensure all their information syncs automatically between Barn2Door and Quickbooks Online, to keep their books in order.
KEY BENEFITS
Track Sales and Expenses: With the QuickBooks Online integration, Farmers can easily track total sales, store credits purchased, promotional discounts, processing fees, delivery & shipping fees, and taxes collected through their Barn2Door account.
Save Time: There is no need to “download” or “upload” any data between Barn2Door and Quickbooks. Your Barn2Door account will automatically sync transaction data on a monthly basis with your QuickBooks Online account.
Manage the Details: Keep your Quickbooks Online data clean with a roll-up of your monthly data posted directly from Barn2Door. All the individual transactions and customer details are always available to Farmers in Barn2Door.
Flexible Accounting Policies: With a myriad of regulatory applications and a diversity of opinions on accounting treatment, Barn2Door provides your Farm with the flexibility you need to manage the books as you see fit. All Barn2Door data is posted to a “clearing account” so Farmers, or their Accountants, can choose the desired accounting treatment of your sales data.
Access Anywhere: With QuickBooks Online and Barn2Door you can access all of your accounting, sales and customer information on any device anytime, whether you’re in the field or sitting at a desk in your office.
HOW IT WORKS
Linking a QuickBooks Online account
Farmers navigate to their Account tab in Barn2Door, and in a few clicks can connect their QuickBooks Online and Barn2Door accounts.
Automatic Barn2Door Accounts Created in QuickBooks
When a Farmer’s Barn2Door and QuickBooks Online accounts are linked, a set of accounts is automatically created that will track the transaction data originating from a Barn2Door seller account, saving time when getting started.
Syncing Transactional Data
On the first of each month, a journal entry (or a record of a transaction) is created in QuickBooks and the Farmer’s Barn2Door data from the prior month is aggregated, categorized and posted into a “clearing account.” Farmers can view their gross and net sales --- after taxes and fees are deducted (their ‘take home’ total). Farmers (and accountants) can reconcile the books monthly, choosing the appropriate accounting treatments (for their business) of Farm revenue and costs.
More to Come
At Barn2Door we speak with our Farmers to learn the challenges they face in their day-to-day operations, we gather their feedback, and to decide where to commit our product and engineering resources. We love to build new capabilities that help Farmers better manage their business.
Barn2Door powers Farmers who sell direct, helping them increase sales, access customers and save time. If you’re curious how Barn2Door could help your Farm build a thriving direct-to-market business, watch this 5 minute video.