Automating Inventory Management for WooCommerce Stores Using Xero.

Automating Inventory Management for WooCommerce Stores Using Xero.

inventory management for woocommerce

WooCommerce is a popular e-commerce plugin compatible with the WordPress open-source blogging platform. The plugin enables businesses to transform their WordPress websites into e-commerce shops capable of promoting and selling items and processing order transactions online. It is one of the easiest ways to create a fully functional e-commerce store with little startup funds and no web programming experience.

Xero is a widely used cloud-based accounting software programme that can automate your business’s bookkeeping and accounting needs. You can use it to import and record all business transaction information, send automated invoices, process payments, reconcile bank information, track orders, manage inventory, and more.

Integrating Xero with WooCommerce to Automate Inventory Management

It is now possible to integrate the Xero cloud-based accounting software with your WooCommerce online store to automate inventory management and maximise productivity. This seamless integration allows you to incorporate all of Xero’s accounting and inventory management features into your WooCommerce store.

The result is an automated synchronisation between your Xero software account and your WooCommerce store account. Everything from inventory management to invoicing and payroll are all automated and streamlined. Automating the inventory management of your WooCommerce store can help you increase inventory efficiency and turnover by ensuring you always have enough items in stock to satisfy consumer demand.

Below are the top benefits of integrating Xero with your WooCommerce store to automate inventory management.

1) Streamline Critical Processes

Integrating Xero with your WooCommerce store can streamline and automate all its crucial processes, such as its inventory management, accounting functions, and financial management.

For example, Xero will always track the quantity of each item available in your WooCommerce store’s inventory. Each time a customer purchases an item from the store, Xero records the transaction and deducts the quantity purchased from the total quantity available for that item. When that particular item runs low in quantity, it will trigger Xero to reorder more from the designated supplier.

Xero can automatically manage all the functions and operations of your WooCommerce store’s inventory through the integration of the two platforms. The integration will also streamline important accounting and financial processes, such as billing, invoicing, bank reconciliation, expense tracking, and data synchronisation. These streamlined processes will help increase the efficiency of your employees while saving your company money at the same time.

2) Reduce Manual Errors

Human error was a common problem before automated inventory management technology existed. But thanks to the evolution of advanced accounting software like Xero, it can greatly reduce the number of manual errors made in your company’s accounting practices.

Integrating Xero with WooCommerce eliminates most human-related administrative errors in accounting because all the digital documentation, calculations, and data recordings are automated in the system. The software has virtually no chance of making errors or mistakes when calculating and recording data if you configure the software and inventory settings correctly.

3) Provide Real-time Updates

Xero can keep you informed and provide real-time updates on your WooCommerce store transactions and inventory at all times of the day and night. These real-time updates can inform you about current inventory stock levels, sales, demand forecast trends, automated invoices generated, and automated reorders to replenish supply.

For instance, when you visit the Products and Services section of the Xero dashboard, it will show you a list of all the stock items available for sale in real-time. The columns of the dashboard include Item Code, Item Name, Cost Price, Sales Price, and Quantity.

Pay attention to the Quantity column because it will let you see how many of each item you have left. If you see an item with a 0.00 quantity, it means you are out of stock for that item. But if you have properly set up automated reordering, you can avoid letting any item go out of stock.

4) Generate Detailed Reports for Making Better Business Decisions

Xero can automatically generate detailed inventory, accounting, and financial reports for any period you want. Reviewing these detailed reports can help you figure out the profitability and turnover of your inventory so that you can make better business decisions in the future.

For example, suppose you generate reports which reveal that one item is selling more than another item. To increase profitability and reduce losses, you may decide to eliminate the low-selling item and reorder more of the hot-selling item. Decisions like this depend on accurate inventory, account, and financial reporting. That is what you will get when you integrate Xero with your WooCommerce store.

How to Integrate Xero with Your WooCommerce Store

There are numerous WordPress plugins you can download to integrate Xero with your WooCommerce store. Some of the most reputable include MyWorks, Xelation, Parex Bridge, Qoblex, and A2X.

The steps below are for using the standard Xero plugin because it is the most widely used for integrating the two platforms. The other plugins require you to create separate accounts for them and link your Xero and WooCommerce accounts to them.

1) Log Into Your WooCommerce Account

Log into your WooCommerce Account. Since WooCommerce accounts have now merged with WordPress accounts, you can use your WordPress login information for WooCommerce and vice versa.

2) Download the Plugin

Visit your WooCommerce account page. Click on the magnifying glass icon at the top of the screen and enter “Xero for WooCommerce” in the search box. You should see the Xero plugin listed on the search results page. Click on the Xero listing and follow the instructions to download the Xero plugin zip file.

3) Upload the Plugin

Go to your WordPress account dashboard. Click on the WordPress Admin section in the navigation bar. It will bring up a submenu with a few different choices. Click on “Plugins” and then “Add New.” Upload the zip file of the plugin by clicking “Upload Plugin” and selecting it from the folder on your computer where it was saved.

4) Install the Plugin

Click “Install Now” after the plugin upload finishes. Finally, click “Activate” to activate the plugin with your WooCommerce store.

5) Setup Up the Xero Plugin

Click on the Xero link in the WordPress navigation bar. Log into your Xero account through the plugin and adjust the settings accordingly.

Get Professional Assistance

Would you like a team of professional Xero software specialists to assist you with setting up the Xero integration with your WooCommerce store and ensuring it runs functions efficiently? Bluehub can simplify the setup of your store’s automated inventory management and implement strategies to optimise its inventory management capabilities to best benefit your store.

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