A little background on my situation. I have a store running on WooCommerce which uses Square as the payment processor. I have been looking to use an online accounting software to automate the tracking of sales and expenses. In my online searches, I found several possible candidates like QBO, Xero, Wave, etc. I'm new to this, so I have some questions about the best way to go about this that would be beneficial in the short and long term.
1) Should I focus on integrating WooCommerce directly to the accounting software, or should I connect Square to the accounting software instead? I would have to pay for a plugin to connect WooCommerce to QBO or Xero for instance, but the Square connection would be free.
2) Follow up question: which method provides the most accurate reporting? My fear is that doing WooCommerce->Accounting would somehow not take into account Square fees, and doing Square->Accounting would not match what's in my store or give me inaccurate data.
3) Should I instead just to daily or weekly sale reports (taken from WooCommerce) and input them manually without syncing? My thoughts on this would be to not track every individual sale in the accounting software – since this is recorded in Square already – and just place a daily line item with the total sales amount.
Again, I'm totally new to this so excuse me if some of my questions or thought processes don't make sense with the reality of running a business. I'm really eager to hear about how other WooCommerce store owners in a similar situation to mine handle accounting, as I'm sure to learn a lot.