![\"Online](\"https://cdn.shopify.com/s/files/1/0070/7032/files/Reports___Customer_cohort_analytics_-_BG.jpg?v=1682700098\")
Understanding and analyzing data and key metrics for your online store can be challenging, especially when there are no industry standards or comparative data available. If your store’s conversion rate is 4%, is that good? How does it compare to other stores in the same industry? Should you invest in improving your conversion rate?
\nBenchmarks are industry-specific metrics that establish a performance standard for businesses. They provide insights into your online store’s performance, allowing you to make informed decisions about where to focus your efforts and resources.
\nWith millions of merchants on our platform, Shopify has the unique ability to match merchants not against industry standards but to surface benchmark data against similar merchants. Comparing performance against stores similar to yours, gives merchants a highly competitive and achievable advantage.
\nBenchmarks in Shopify are based on cohorts of stores that are similar to yours. These cohorts are defined by looking at the order volume, primary market, and product categories sold over the past 30 days. If there aren’t enough similar stores like yours on Shopify, Benchmarks data may not be available for your store.
\n\n
Shopify gives you Benchmarks data at a median, 25th percentile and 75th percentile level so that you can make better decisions based on your relative performance. For instance, finding yourself in a narrow range for conversion between the median and 75th percentile may suggest that smaller changes in conversion rate might not have a significant impact on your top-line. This means you can focus instead on your average basket size by offering bundling options.
\nPercentiles can also be helpful in indicating how close or far your shop is from peak performance. When there is only a small difference between the median and 75th percentile, even a small percentage improvement in conversion rate can bring your store up to par with other stores at the 75th percentile.
\nIn this first iteration, Benchmarks data is available for the following metrics in Shopify: online store conversion; average order value; retention rate; and time to fulfill, ship, and deliver. You can access these metrics using the relevant reports in Shopify.
\nOnline store conversion is the percentage of website visitors who make a purchase. View the Online store conversion over time report in Shopify to find out how your store’s conversion rate is doing compared to other similar stores in the industry over a period of time.
\n
Compare the average value of an order placed on your store against similar stores using the Average order value over time report.
\n![\"AOV](\"https://cdn.shopify.com/s/files/1/0070/7032/files/Reports___Benchmarks_A.jpg?v=1682980215\")
Retention rate is the percentage of customers who return to your website to make another purchase. Dig into your Customer Cohort Analysis report to view the retention rate for your store and compare against similar stores.
\n![\"Retention](\"https://cdn.shopify.com/s/files/1/0070/7032/files/Reports___Benchmarks_B.jpg?v=1682980239\")
Time to fulfill is the average time it takes for you to start processing an order after it’s placed. Time to ship is the average time it takes for an order to be shipped after it’s been processed. Time to deliver is the average time it takes for an order to be delivered after it’s been shipped. The Fulfillment, shipping, and delivery times report in Shopify gives you a clear view of these metrics along with Benchmarks data to analyze your performance in fulfillment, shipping and delivery.
\n![\"Fulfillment,](\"https://cdn.shopify.com/s/files/1/0070/7032/files/Reports___Benchmarks_C.jpg?v=1682980263\")
Benchmarks help you stay on top of the game by giving you unique insights that uplift your performance and help you make better decisions. With Benchmarks, you can realistically view how your KPIs are performing against others in the industry, identify areas for improvement, and see where your efforts are paying off.
\nhttps://www.shopify.com/blog/benchmarks
\n"}]},"page_header":{"background":null,"backgroundOpacity":100,"color":null,"fieldGroupName":"page_header","title":"Benchmarks for Comparison","opacity":100,"position":"on","size":{"desktop":64,"tablet":null,"mobile":null},"spaces":{"top":null,"bottom":null,"leftright":null,"units":"em"}},"link":"/blog/compare-data-to-stores-like-yours-with-benchmarks"},{"id":"cG9zdDo1NDUx","title":"Double-Entry Bookkeeping: Guide for Small Business Owners","date":"24.05.2023","slug":"double-entry-bookkeeping-guide-for-small-business-owners","categories":{"nodes":[{"id":"dGVybTox","name":"General Articles"}]},"levels":{"nodes":[]},"acfPost":{"fieldGroupName":"acfPost","excerpt":"It’s a common bookkeeping problem for small-business owners: You review your monthly bank statements and check them against a handwritten log of sales and expenses. The log and bank statements don’t always match, however. Sometimes the bank says you have more money than your records show, sometimes less. ","squaredImage":{"altText":"Double-Entry Bookkeeping: Guide for Small Business Owners","localFile":{"childImageSharp":{"gatsbyImageData":{"layout":"fullWidth","backgroundColor":"#c8a8b8","images":{"fallback":{"src":"/static/d6c01754bf4a8f56618847d7a1f16e7c/b956e/double_20entry_20bookkeeping.webp","srcSet":"/static/d6c01754bf4a8f56618847d7a1f16e7c/d1fa5/double_20entry_20bookkeeping.webp 750w,\n/static/d6c01754bf4a8f56618847d7a1f16e7c/b956e/double_20entry_20bookkeeping.webp 1024w","sizes":"100vw"},"sources":[]},"width":1,"height":0.4228515625}}}},"metaData":{"title":null,"description":"Discover the power of double-entry bookkeeping for small businesses. Learn how it works, its benefits, and limitations. Understand the differences between double-entry and single-entry bookkeeping. Get step-by-step instructions to set up a double-entry system and conduct a trial balance. Explore the importance of double-entry accounting for financial statements and external reviews. Choose the right accounting software to streamline your bookkeeping process and gain accurate insights into your business's finances"},"banner":{"title":"Double-Entry Bookkeeping: Guide for Small Business Owners","showTitle":true,"image":{"altText":"Double-Entry Bookkeeping: Guide for Small Business Owners","localFile":{"childImageSharp":{"gatsbyImageData":{"layout":"fullWidth","backgroundColor":"#c8a8b8","images":{"fallback":{"src":"/static/d6c01754bf4a8f56618847d7a1f16e7c/b956e/double_20entry_20bookkeeping.webp","srcSet":"/static/d6c01754bf4a8f56618847d7a1f16e7c/d1fa5/double_20entry_20bookkeeping.webp 750w,\n/static/d6c01754bf4a8f56618847d7a1f16e7c/b956e/double_20entry_20bookkeeping.webp 1024w","sizes":"100vw"},"sources":[]},"width":1,"height":0.4228515625}}}}},"timeToRead":null,"sections":[{"fieldGroupName":"post_Acfpost_Sections_ArticleRichTextContent","content":"It’s a common bookkeeping problem for small-business owners: You review your monthly bank statements and check them against a handwritten log of sales and expenses. The log and bank statements don’t always match, however. Sometimes the bank says you have more money than your records show, sometimes less.
\nThere is a better way to keep track of your business’s finances. It starts with double-entry bookkeeping.
\nTable of Contents
\nDouble-entry bookkeeping, also called double-entry accounting, is a system of recording each business transaction twice. These are known as bookkeeping entries, and they appear in equal but opposite amounts. One entry shows the source of money of each transaction, and the other entry shows the money’s destination. The double-entry system displays two columns for these entries, called debits and credits.
\nThe key feature of double-entry is that the two columns must balance. This allows you to track money coming into your business and going out of it. Through periodic reviews called a trial balance, you ensure accounts are accurate.
\nA double-entry accounting system is more reliable than a single-entry accounting system, in which purchases and payments are recorded simply as additions or subtractions to a single business account. Double-entry allows you to create other accounts to track money not yet received (accounts receivable) or paid (accounts payable), and goods held for sale (inventory).
\nPublicly traded companies and many privately owned companies use double-entry bookkeeping. It’s essential for preparing financial statements, such as the balance sheet, income statement, and cash-flow statement, as well as for accrual accounting—recording revenue and costs as they occur but that are not yet received or paid. Lenders and investors require financial statements based on double-entry to verify a business’s financial condition before they consider a loan or an equity investment.
\nDouble-entry bookkeeping and balancing a business’s books—ensuring that debits equal credits—is linked to a fundamental concept of finance called the accounting equation. It looks like this:
\nAssets = Liabilities + Equity
\nThis equation sums up a business’s balance sheet, one of three essential financial statements along with the income statement and cash-flow statement. It’s called a balance sheet because the business’s assets must equal, or balance, the debt and liabilities used to finance them.
\nIdeally, assets are greater than debt and liabilities, and this difference makes up the owners’ or shareholders’ equity. Equity represents the dollar value of an ownership stake, whether the business is a sole proprietorship or a huge corporation with thousands of shareholders.
\nIn double-entry bookkeeping, the left-side entries are called debits and the right-side entries are credits. The document (or software) where these entries are recorded is called a ledger.
\nDouble-entry can help your small business in several ways, including:
\nAt the same time, double-entry has some drawbacks, including:
\nA quick rundown of the differences include:
\nFinance apps in the App Store
\nEvery business is unique, but they all need to make money and pay taxes. We have the apps to help stay on top of your finances.
\nUsing an accounting software program is one of the easiest ways to start double-entry bookkeeping. Your small business has a wealth of options to choose from. After the initial setup of a double-entry system, most software providers charge a monthly subscription fee.
\nIf your business accounts need to be straightened out first, you may also need to hire a bookkeeper or accountant before investing in a software program.
\nHire the business expertise you need
\nConnect with Shopify experts for free today, so you can grow your business tomorrow.
\nStarting a double-entry system isn’t necessarily easy, but the following four steps can simplify the process:
\nDouble-entry requires the following five accounts for entering debits and credits. The first three relate to the business’s balance sheet, and the latter two to the income statement:
\nThis is the place to record all transactions, in chronological order, with documentation, such as receipts, bills, and invoices. Journal transactions are then transferred and entered twice in the ledger as offsetting debits and credits. Software programs for business accounting typically are set up with formats for a journal and ledger.
\nEven with a software setup, understanding the double-entry system can be challenging if you have little or no accounting experience. First, you must match transactions to the appropriate accounts for debit and credit entries. Second, the terms “debit” and “credit” are not always as simple as “add” and “subtract” in single-entry bookkeeping, and they may even seem counterintuitive. In some cases, a debit increases an account while a credit decreases it.
\nThe important point is that debits, on the left side of the ledger, must be balanced by equal credits on the right side, to properly track the source of money for each transaction, and the destination for the money. Accounting software does much of this for you.
\nTo keep them straight, below is a chart of the five key accounts and how they are debited or credited in double-entry bookkeeping:
\n| ACCOUNT | \nHOW IT INCREASES | \nHOW IT DECREASES | \n
| Assets | \nDebit | \nCredit | \n
| Liabilities | \nCredit | \nDebit | \n
| Equity | \nCredit | \nDebit | \n
| Income | \nCredit | \nDebit | \n
| Expenses | \nDebit | \nCredit | \n
Here are a few examples of double-entry bookkeeping:
\nLet’s say your business, an online seller of cookware and kitchen utensils, secures a $20,000 bank loan. A double-entry record of the loan transaction would look like this:
\n| ACCOUNT | \nDEBIT | \nCREDIT | \n
| Cash (asset) | \n20,000 | \n\n |
| Loan payable (liability) | \n\n | 20,000 | \n
Now, using part of the loan proceeds, let’s say you buy $10,000 worth of cookware at wholesale for your inventory. Here’s how this would look in double-entry:
\n| ACCOUNT | \nDEBIT | \nCREDIT | \n
| Inventory (asset) | \n10,000 | \n\n |
| Cash (asset) | \n\n | 10,000 | \n
Finally, you buy advertising for $2,500. You would record the costs as a double-entry this way:
\n| ACCOUNT | \nDEBIT | \nCREDIT | \n
| Advertising (expense) | \n2,500 | \n\n |
| Cash (asset) | \n\n | 2,500 | \n
The trial balance is a review of the ledger to ensure that debits and credits match. This is the time to find and correct any errors so that the ledger can be used to prepare the business’s financial statements. You typically perform this review monthly.
\nSome historians cite evidence of people using the double-entry method almost 2,000 years ago in the Middle East, but it became more widely used during the Italian Renaissance. Credit is often given to Luca Pacioli, a 15th-century Venetian friar and mathematician who wrote a treatise on the subject. He is sometimes called the father of modern accounting.
\nYou could, though it would be a waste of time. Double-entry bookkeeping incorporates all aspects of single-entry bookkeeping, so there is no need to do them simultaneously.
\nSome basic knowledge of accounting is helpful, because the double-entry system of debits, credits, and multiple accounts might seem daunting to a newcomer. Many small-business software programs are available and easy to set up.
\nhttps://www.shopify.com/blog/double-entry-bookkeeping
\nGoogle Chrome is the most widely used web browser in the world—by a mile.
\nChances are, you’re using the Chrome browser to work on your business or personal life. But are you taking advantage of the best Google Chrome extensions to help you operate smarter?
\nWith more than 180,000 Chrome extensions in the Chrome Web Store, and most Chrome extensions free to install, you might miss many of the hidden gems that could make your life easier—not just as a person, but as a business owner.
\nAfter hours of scouring the Chrome store, sourcing recommendations from savvy entrepreneurs, and trying out dozens of Chrome extensions, we’ve put together this list of the top 29 underrated Chrome extensions for:
\n![\"utm](\"https://cdn.shopify.com/s/files/1/0070/7032/files/utm.png?format=webp&v=1682805658\")
Utm.io is a Google Chrome extension that lets you quickly add UTM parameters to the URL of the page you’re on, and then add it to a database of tracked links. Even better, it lets you create and apply templates to autofill parameters based on the context, such as a monthly newsletter.
\nConsistently tracking your marketing campaigns with UTM parameters can be tedious, but it’s is one of the more reliable ways to attribute sales to specific ads, campaigns, and traffic sources.
\nMost entrepreneurs resort to a spreadsheet or Google Analytics to keep track of active parameters, UTM naming conventions, and URLs. UTM.io offers a faster, more consistent way to do this over time and as a team.
\nUse it to:
\n![\"keyword](\"https://cdn.shopify.com/s/files/1/0070/7032/files/keyword-surfer.png?format=webp&v=1682805710\")
Keyword Surfer is a Chrome extension that shows search volumes and keyword suggestions right inside Google search results.
\nIf you can’t afford an SEO tool subscription, it’s a solid free keyword research alternative.
\nKeyword research is the cornerstone of every ecommerce SEO strategy. It can help you validate a product or content ideas, quantify market demand for specific answers, and pinpoint solutions for specific problems.
\nKeyword Surfer makes all of this accessible to you in the places they matter most, with the ability to save search terms to a list and even generate an article outline to start writing search-optimized blog posts.
\nUse it to:
\n![\"chrome](\"https://cdn.shopify.com/s/files/1/0070/7032/files/lush_cb56ca6c-4a32-4041-8929-a31f649d0cf0.png?format=webp&v=1682805937\")
SEO Minion is another Chrome add-on to level up your SEO game.
\nThis one focuses on on-page SEO, letting you evaluate all the SEO meta tags on a given page, and check for broken links and redirects. It tells you what a page is missing, whether the page title is too long, and discovers webpage optimization opportunities.
\nUse it to:
\n![\"vidiq](\"https://cdn.shopify.com/s/files/1/0070/7032/files/vidiq.png?format=webp&v=1682805840\")
VidIQ Vision is a must-install add-on if your marketing strategy has anything to do with YouTube, whether growing your own YouTube channel or working with YouTube influencers or affiliates.
\nThe Chrome extension gives you detailed stats on the YouTube video and channel you’re watching, including how optimized it is for search, its engagement rate relative to the rest of YouTube, and how it’s being promoted on other platforms like Facebook and Reddit.
\nUse it to:
\n![\"buffer\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/buffer_49d7764c-b820-49fb-be71-771f2d1a548b.png?format=webp&v=1682805891\")
Buffer is a social media scheduling tool that lets you schedule social media posts across all the major channels while pulling in the URL and media for the page you’re currently on—eliminating the need to copy and paste the link over for each post.
\nA time-saving practice among many social media managers is to block off 30 minutes each week to schedule your posts into a queue for the next week or so.
\nA social media scheduler with a Chrome extension like Crowdfire lets you quickly build that queue of social media posts by pulling the link and assets for the page you’re currently on, and automatically scheduling it to go out at the best time.
\nUse it to:
\n![\"lusha\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/seo-minion.png?format=webp&v=1682805779\")
Lusha lets you see details about a company, including who works there and their contact info, while you’re browsing LinkedIn or their company website.
\nWhile there are a few Chrome extensions that allow you to do this, Lush is versatile and easy to use, rendering a detailed profile of your prospect.
\nWhether you use it to reach out to potential B2B buyers or to explore strategic partnerships, prospecting becomes a much smoother process when you can see and save a company’s background and contact info at a glance.
\nOn the free plan, you get five free credits per month to unlock the contact details (email, phone number, etc.) for someone who works at the company in a specific role.
\nUse it to:
\n![\"calendly](\"https://cdn.shopify.com/s/files/1/0070/7032/files/calendly-for-chrome.png?format=webp&v=1682806067\")
Calendly offers a Chrome extension that adds a Calendly button to your Gmail, LinkedIn messages, and other places where you’re likely to need to schedule a meeting.
\nWith Calendly, there’s no more “I can do Wednesday, Thursday, or Friday, from 8 to 11 in the morning.”
\nYou can avoid the back and forth of scheduling with your team or business partners by simply sending them a Calendly link to browse a list of available times.
\nYou can customize your availability and working hours, add a question to gather info, and set rules like a limit on how many meetings per day others can book.
\nUse it to:
\n![\"tl;dv\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/tl_dv.png?format=webp&v=1682806101\")
tl;dv—or too long; didn’t view—is the Chrome extension that solves the problems of too many meetings and choosing between taking notes or paying attention.
\nIt works with both Zoom and Google Meet. All you do is hit Record and it’ll invite tl;dv to your call with a button you can press to mark key moments in the call to revisit. Afterward, the call recording is sent to everyone who was in the meeting (on the paid plan you can decide who gets it in their inbox), and a transcript is generated too.
\nUse it to:
\n![\"Loom\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/loom_d8d8e17d-7a69-4bf9-a8db-d3d1196a483c.png?format=webp&v=1682806156\")
Loom is a free screen recording extension that allows you to capture, narrate, and instantly share video recordings of your screen. This isn’t the best program for free video editing, but it is jam-packed with incredibly useful functionalities.
\nRecord just your current tab or your entire screen. Choose whether you’d like to include a thumbnail video of your face on the webcam. Plus, you can share the videos instantly, and even choose whether the video needs a password to be seen.
\nThe best part is that there’s no limit to how many recordings you can make.
\nUse it to:
\n![\"streak](\"https://cdn.shopify.com/s/files/1/0070/7032/files/stream_crm.png?format=webp&v=1682806185\")
Streak CRM turns your Gmail inbox into a CRM. With it, you add features like templates, automated sequences, notification, and email open and click tracking to your regular emails.
\nWhat’s more, you can build and manage a pipeline for sales, PR, or investor outreach, with mail merge and templates to save you time.
\nCombine it with a Chrome extension like Lusha to uncover emails for key contacts. Now your regular inbox is a powerful sales tool.
\nUse it to:
\n![\"scribehow\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/scribehow.png?format=webp&v=1682806228\")
ScribeHow offers an extension that lets you hit Record, perform a process as you normally would, and automatically create the necessary step-by-step guide and documentation.
\nTaking recurring processes off your plate is a natural part of growing your business. But you’ll be explaining the process every single time you hand it off to a new person unless you invest in the documentation that empowers self-learning.
\nDocumenting a process may be work you do once to do less work in the long term, but ScribeHow makes it almost no work at all. And that makes handing off your tedious processes less of a tedious process itself.
\nUse it to:
\n![\"lastpass\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/lastpass_31599c1f-3072-46b5-9bd2-9e864dc7b8ac.png?format=webp&v=1682806269\")
LastPass stores all of your passwords securely in your own “vault.” To access this vault, you enter one extremely secure super password. Then, you can set LastPass to create new randomly generated passwords for all of your online accounts, which you can then log in to using the Chrome extension.
\nInstead of remembering which letter was capitalized and what special character was used for several unique passwords, many people just use the same password for everything—a huge security risk and one that makes password-sharing a liability.
\nLastPass solves that problem with a method that feels like using the same password for everything but isn’t, while being simple, secure, and free (though you can add premium features for an annual fee).
\nUse it to:
\n![\"bardeen\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/bardeen.png?format=webp&v=1682806311\")
Bardeen is a browser-based workflow automation extension that lets you automate workflows conducted in your browser.
\nAutomation done right can turn hours of work into seconds and keep parts of your business running in the background without you being involved.
\nIt’s still in its early stages, with a growing list of integrations, but when you consider how much work gets done in the Chrome browser, it has the potential to save you a lot of time, especially with manual data entry tasks.
\nWith Bardeen, you can build autobooks that execute a specific series of steps on command, Playbooks that automatically execute a workflow based on an event or schedule, and scrapers that can automatically pull the information you want from a website into a database of your own.
\nUse it to:
\n![\"similarweb\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/similarweb_c3406320-18e6-46a2-b998-2179af69fa36.png?format=webp&v=1682806357\")
Similarweb offers a Chrome extension that lets you analyze a competitor’s website and understand its marketing strategy through its traffic.
\nClick the Chrome extension while on any website and it will pop open a snapshot report with traffic distribution by source and geography, estimated visits over time, and engagement metrics for the site.
\nSimilarweb’s analytics are based on a combination of direct data from website owners and their partners, as well as public data sources. It’s an estimate, but solid enough to base decisions on.
\nUse it to:
\n![\"wappalyzer\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/wappalyzer.png?format=webp&v=1682806397\")
Wappalyzer shows what technology is powering any website, from the tracking pixels it has installed to even the Shopify apps and payment gateways it has set up. It won’t show you everything, but it’s surprisingly accurate.
\nIf you’re an online business owner, chances are you’re at least a little curious about the technologies other online businesses are built and run on—what website builder they’re using, which apps they have installed, what they’re using for email marketing.
\nWappalyzer lets you appease that curiosity with a single click.
\nUse it to:
\n![\"meta](\"https://cdn.shopify.com/s/files/1/0070/7032/files/ad-library.png?format=webp&v=1682806492\")
Meta Ad Library lets you quickly search active ads by page name or keyword while you browse Facebook, and save them to a collection.
\nThe ad transparency you get from the Meta Ad Library can be a valuable source of competitive intelligence and inspiration, though it can also be cumbersome to navigate. You can use it to get a fair amount of insights into another company’s advertising.
\nJust be sure to turn off your ad blocker.
\nUse it to:
\n![\"workona\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/workona.png?format=webp&v=1682806547\")
Workona is for all those people with 27 tabs open at any given time.
\nWhile there are plenty of Chrome extensions that let you group your tabs in a single tab (and Chrome also natively allows you to create tab groups), none do it as elegantly as Workona.
\nWorkona is perfect for “context switching” on Chrome—where you go from working on one project, or even business, to another. You can create workspaces with high-priority links, a to-do list, and, of course, a dozen tabs you want to be able to return to in a snap.
\nEven better, it integrates with many other tools like Notion, Airtable, and Google Drive with a universal search that lets you sift through everything you’ve associated with that workspace.
\nUse it for:
\n![\"blocksite\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/blocksite.png?format=webp&v=1682806598\")
BlockSite is a Chrome extension that helps you focus on tasks.
\nIf you need to stay on task but constantly end up elsewhere (Reddit, Twitter, YouTube, Facebook—pick your poison), you can rely on willpower or you can rely on this Chrome add-on to stop you before you start.
\nOn the free plan, BlockSite lets you add three distracting websites to your block list and set a timer for your work session, which should be enough to improve your focus.
\nUse it to:
\n![\"momentum\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/momentum.png?format=webp&v=1682806914\")
Momentum is a Chrome extension that changes your new tab to a Momentum tag that reminds you of your main goal for the day, keeps you motivated, and makes it easy to manage your to-do list and important links.
\nThe new tab page is the page you visit most in Chrome while browsing the web, making it valuable real estate for a reminder that you’re supposed to be productive.
\nThe add-on is free, but the paid plan gives you access to features like a focus mode and timer.
\nUse it to:
\n![\"readme\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/read-me.png?format=webp&v=1682807004\")
Readme is a handy Chrome extension you can use to read emails, articles, PDFs, and more to you while highlighting the current spot and automatically scrolling through the page.
\nIt contains dozens of voices and languages for text-to-speech translation and allows you to adjust the font size or reading speed to suit your needs.
\nUse it to:
\n![\"Liner\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/liner.png?format=webp&v=1682807040\")
Liner is built on the promise of helping people navigate a web saturated with low-quality information to find the most valuable content and nuggets of insight, as voted by its user base of nine million active members.
\nIt’s a Chrome extension that changes your Chrome browsing experience in a few different ways—calling out the best resources in Google search results, serving up a new tab experience of recommended content, and letting you highlight sections of what you read to save in your Liner library (and contribute to the community).
\nIt also works for highlighting the best parts of YouTube videos.
\nUse it to:
\n![\"pocket\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/pocket.png?format=webp&v=1682807078\")
The Pocket Chrome extension lets you right-click on articles you encounter to add them to the Pocket web app to read later in an app designed for an enjoyable reading experience.
\nAs an entrepreneur, you never stop learning. But sometimes a headline catches your eye when you don’t have the time to dig in and read. Maybe you bookmark it for later, but those bookmarks add up fast as they’re quickly forgotten.
\nPocket is great if you carve out time in your day for learning, maybe 30 minutes every morning while you’re eating breakfast or riding the bus. You pop open the Pocket app and can see all the articles you’ve accrued over time and which ones you’ve read or haven’t finished, with the ability to filter by tag.
\nUse it to:
\n![\"evernote\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/evernote_814ebdf3-e468-47be-8aa8-6fe648725589.png?format=webp&v=1682807119\")
The Evernote Web Clipper is a convenient note-taking app that lets you save and organize content directly into your Evernote account for later reference or use.
\nIf you’re the type of person who is constantly absorbing information from various sources, the Web Clipper helps you keep track of all those valuable insights in a neat and organized manner.
\nUse it to:
\n![\"full](\"https://cdn.shopify.com/s/files/1/0070/7032/files/screenshot_82a2a020-1d6e-4b8f-b45b-77d63147a1e5.png?format=webp&v=1682807148\")
Whether it’s design inspiration, research material, or a screen capture of a completed project, you may need to save and share web content in its entirety.
\nWith the Full Page Screenshot browser extension, you can capture an entire webpage in one image. You just click the extension icon in your toolbar and choose Capture Entire Page, then the work is done.
\nUse it to:
\n![\"todoist\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/todoist_8635e448-6d2a-4005-b0dc-d16bfb8b0278.png?format=webp&v=1682807189\")
Todoist is a useful Chrome extension that helps you capture, organize, and prioritize your tasks directly from your browser. It’s perfect to keep track of their tasks, whether they’re related to work, personal life, or ongoing projects.
\nUse it to:
\n![\"onetab\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/onetab.png?format=webp&v=1682807243\")
You know the feeling when you have a million Chrome tabs open and stuff starts getting lost? Onetab solves that issue. With Onetab, you can consolidate all your open tabs into one.
\nUse it to:
\n![\"grammarly\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/grammarly_d754f587-291c-456c-9bb6-14430fbc80cf.png?format=webp&v=1682807290\")
Grammarly offers a free Chrome add-on with a spelling and grammar checker. It runs in most of the places you write, highlighting spelling mistakes, awkward phrasing, wordy sentences, and other areas you can improve your writing.
\nGrammarly offers peace of mind as you write, publish, and post, knowing it will catch that stray typo or incomplete sentence in your emails, Google Docs, Facebook comments, or tweets before you hit Send. Just be mindful that it is an AI, and it’s not always going to know best.
\nThe Chrome browser extension is free, but Grammarly also has premium features available for a monthly fee, such as style guide rules and more advanced suggestions.
\nUse it to:
\n![\"wordtune\"](\"https://cdn.shopify.com/s/files/1/0070/7032/files/wordtune.png?format=webp&v=1682807326\")
Wordtune is a simple Chrome extension that rewrites your sentences to flow better (whereas Grammarly mostly focuses on spelling and grammar).
\nIt’s more an AI writing assistant than a spellchecker. Sometimes you know what you want to say, but how you said it feels off. With Wordtune, you can generate several variations of the same paragraph or even an entire article.
\nIf you’re the type to overthink a simple email or feel shy about writing a post for social media, you can just write your thoughts on the page and let Wordtune take care of the rest. You can then choose between a casual or formal tone and whether you want Wordtune to make it more concise or expand on your input.
\nOn the free plan, you get 10 rewrites per day, but if you need more you can upgrade to a paid plan to remove the limit. And if you’re interested in summarizing a long, dense read and pulling out the highlight, check out Wordtune Read.
\nUse it to:
\n![\"text](\"https://cdn.shopify.com/s/files/1/0070/7032/files/text-blaze.png?format=webp&v=1682807359\")
Text Blaze isn’t your typical text expander.
\nOne of the advantages of Chrome extensions is that they work across various web applications and tools, as long as they’re open in the Chrome desktop browser. And that’s what makes Text Blaze so powerful.
\nJust hit Shift+CMD+Space (on Mac) and you’ll be able to enter the shortcut for the snippet or template you want to insert.
\nWhere the use cases get interesting is with the calculator and form features built into Text Blaze. It allows you to input specific variables (such as the name of a company or monthly revenue), working them into the final text, performing calculations as needed.
\nSome of its more powerful features, like conditional logic, are available only on the paid plan, but the free plan still saves you a lot of effort, especially if you find yourself sending the same messages again and again, performing manual calculations, or looking up the date.
\nUse it to:
\nChrome plug-ins like the ones above can be incredible tools for today’s entrepreneurs, especially given how much they can do for free, from saving time to compensating for skills you thought you had to hire for.
\nSome of those tiny icons at the top of your browser can have such a big impact on your workday you won’t be able to imagine working without them.
\nBe intentional about the Chrome extensions you install and set up, and start doing more with less every time you pop up the Google Chrome browser to build upon your business.
\n\n\n
There isn’t a specific Chrome extension for faster loading, but using extensions like uBlock Origin to block ads and unnecessary content can contribute to faster page loading times.
\nhttps://www.shopify.com/blog/120710469-best-chrome-extensions-for-entrepreneurs
\nPayments are a key part of the shopping experience, no matter where and what you’re selling—but they’re especially important online, where trust and security are top of mind.
\nIf you operate in the European Economic Area (EEA), you may have heard about the revised Payment Services Directive (PSD2). It’s a regulatory requirement that includes Strong Customer Authentication (SCA) and is intended to increase protection against fraud for online purchases and will have some impact on businesses in the EEA.
\nAhead, learn how to navigate these complexities of selling so you can focus on running and growing your business. This article answers all the questions you might have on PSD2, SCA, and more.
\nTable of Contents
\nStrong Customer Authentication is a security policy in the EEA that helps reduce fraud and make payments more secure. It is part of the revised Payment Services Directive.
\nSCA is similar to what many people refer to as two-factor authentication: if a customer is buying online using their debit or credit card, SCA may require them to use two forms of authentication.
\nAs an example, instead of just entering their PIN or password, SCA might prompt a customer to enter a code texted to them as a second step. This makes it harder for fraudulent transactions to get through.
\nSCA also helps ensure that a breach of one authentication item doesn’t compromise another method of authentication, furthering the overall security of the customer’s information.
\nThe revised Payments Services Directive regulates electronic payments made in the European Union. The first Payments Services Directive came into effect in 2007, and PSD2 was released in late 2019—although it wasn’t fully implemented until the end of 2020.
\nOne of the major updates this revision brought to the table was stronger protection for customers who shop online using their debit and credit cards. This also protects you as an ecommerce merchant.
\nTo comply with these regulations, you’ll need to make sure you have Strong Customer Authentication to help mitigate card-not-present fraud from payments accepted from European buyers.
\nStrong Customer Authentication must include two of these three elements: knowledge, possession, and inherence.
\nKnowledge refers to something that only your customer would know. A few examples of this include:
\nPossession refers to items the customer physically owns. This includes things like:
\nInherence refers to things that are inherently the customer—personal and physical identifiers that no one else can fit. It’s referred to as “something the customer is.” Examples are:
\nIn the past, access to accounts and payment authorization could be done with a simple “something the customer knows”—like a PIN. SCA requires more than that, ensuring even better security.
\nPasswords can be leaked or hacked. Credit and debit cards can be lost or stolen. But if someone is required to input a password from their specific device or provide a fingerprint scan alongside their credit card PIN, it makes the entire process much more secure.
\nSCA is done through a protocol called 3D Secure—a technology that is supported by most European cards. This protocol adds an extra layer of security that customers have to enter during checkout to authenticate themselves.
\nYour customers will see the 3D Secure indicator show up on orders and it will then prompt them to further authenticate themselves with a multifactor authentication process.
\nThis could be:
\nThe fact that many smart devices are compatible with these types of inherent authentication helps make it even easier for customers to make secure purchases.
\nOnce this SCA step has been completed, any fraudulent chargebacks are the bank’s problem—not yours.
\nIf your business operates within the EEA, you need to be compliant with PSD2 and SCA, or banks can decline purchases. However, it’s not difficult to make sure you’re compliant—you simply have to do one (or both) of two things:
\nHaving a Shopify store makes it easy to be compliant. With the number of payment options you can add, you can easily ensure 3D Secure is automatically applied to purchases made in the EEA.
\nUsers are also able to see orders that have used SCA for payment processing within their Shopify orders page. Orders paid with debit or credit cards that have gone through 3D Secure will have 3D Secure (3DS) noted beside the order timeline.
\nThis means the buyer’s identity has been confirmed by the bank who issued the card, and the transaction will default to low risk. There is no action required for the merchant within the orders page for these transactions.
\nSCA applies to all online payments made within the European Union. This means the customer resides within the EU and has made a purchase from a business that also operates in the EU.
\nHowever, more and more countries are moving toward similar requirements in order to prevent fraudulent payments and protect merchants and payment providers.
\nNot every electronic payment or ecommerce transaction is subject to SCA. Here are some examples of when SCA isn’t required.
\nLow-risk transactions are pinpointed through a transaction risk analysis (TRA). Payment providers are able to conduct real-time risk analyses to decide whether or not SCA needs to be applied.
\nThis risk is determined by the payment provider’s fraud rates. They may be exempt if their fraud rates are below these thresholds:
\nThe payment provider can then request a “TRA exemption” to bypass the need to use SCA.
\nLow-value transactions, or transactions that don’t cost a lot, may also be exempt from SCA. The regulations dictate that any transaction of €30 or less can be considered a low-value transaction.
\nHowever, the issuing bank or card provider keeps track of the number of times this exemption is used. SCA will be required after every five low-value transactions to ensure the payments are secure and intentional so fraudsters can’t get around PSD2 regulations.
\nA recurring transaction, or a fixed-amount subscription, is another exemption. SCA will be required for the first payment, but subsequent automatic payments for subscriptions will be exempt from these security requirements.
\nMerchant-initiated transactions (MITs) are considered to be “out of scope” rather than exempt. However, marketing a transaction as an MIT is typically a similar process to requesting an exemption.
\nThis type of payment uses a card that’s already on file. As with recurring transactions, the first payment must go through Strong Customer Authentication. However, additional payments do not, typically because the customer has agreed through a contract or other policy that the transaction is verified.
\nMOTO transactions, or mail order and telephone order transactions, are also considered to be out of scope. As these types of payments are not considered to be electronic or online payments, they don’t fall under the SCA requirements.
\nCorporate or B2B transactions are those that occur between two corporations. When this payment is made with a card that is specified for corporate transactions, these payments are also exempt from SCA requirements.
\nInter-regional transactions are transactions that are made by consumers who do not live within the regions or parameters of the PSD2 regulations and are therefore out of scope of SCA requirements.
\nFor example, even if your business is located within the EU, if someone from the United States is making a purchase, that transaction is out of the scope of SCA.
\nLastly, customers themselves are able to essentially whitelist companies that they regularly work with or trust so their payments no longer need to be authenticated. The consumer’s bank will then keep track of this list of “trusted beneficiaries” so the consumer can skip the SCA process.
\nIf you’re using Shopify Payments to process credit or debit cards in Germany, Denmark, Ireland, the Netherlands, Austria, Belgium, Sweden, Spain, or the United Kingdom, you don’t need to do anything—you’re automatically compliant.
\nShopify Payments is optimized to minimize the use of 3D Secure. It will only use 3D Secure when absolutely required by the issuing bank in order for a transaction to be authorized.
\nIf you’re using Stripe to process credit or debit cards, you’re also fully compliant with PSD2 and able to offer SCA.
\nLocal payment methods such as iDeal and Klarna, and wallets like Google Pay, Apple Pay, and PayPal Express, are already compliant with the regulation and require no action.
\nFor merchants using third-party gateways, you’re not automatically in compliance with PSD2.
\nTo be in compliance, we recommend you use a Shopify-approved SCA gateway and create a connection with Cardinal Commerce. You’ll be prompted within your Shopify admin in Settings > Payments that Cardinal Commerce is available.
\nIf you’re operating in countries in the EEA or EU, it’s in both yours and your customers’ best interest to ensure you’re compliant and that you offer 3D Secure options, or that the way you take payments is exempt from SCA.
\n\n
Strong Customer Authentication, or SCA, is required any time a payment is made by a consumer residing within the European Economic Area (EEA). While there are exemptions, businesses that operate within the EEA should ensure they’re compliant, regardless.
\nThese laws are in place for banks. This means that the bank cannot (and should not) approve transactions that do not go through SCA security, or else they’re in violation of European law. However, this also means that if you aren’t SCA compliant, banks will likely decline the transaction, meaning consumers that reside within the EEA are unable to shop with your business. This can hurt sales, so it’s in your best interest to ensure compliance.
\nThe European Banking Authority (EBA) within the European Union (EU) is responsible for enforcing SCA. In the UK, PSD2 SCA regulations are enforced by the Financial Conduct Authority (FCA).
\nA PSD2 license is required by payment institutions in the EU. These include Stripe, PayPal, Square, Apple Pay, Google Pay, and others. These types of companies will have licenses so they can provide payment services that are compliant with PSD2 guidelines.
\nhttps://www.shopify.com/blog/strong-customer-authentication
\nAn omnichannel approach to selling can help your brand reach more customers in more places. If you already run a Shopify store, layering on a marketplace like eBay can improve customer acquisition and drive sales. That’s because you’re showing up in search results where your target customer is already hanging out.
\nIf eBay is the right fit for your products, consider adding this sales channel to your mix. Ahead, understand how you can integrate your Shopify store and eBay account to sync inventory and manage eBay orders more efficiently through Shopify.
\nSeveral third-party apps help you integrate your eBay account with your Shopify store. These apps, available in the Shopify App Store, all differ slightly but offer some of the following benefits:
\nBrowse these apps to compare features, prices, and benefits. Choose the best one to connect your Shopify store to the eBay sales channel.
\n![\"Screengrab](\"https://cdn.shopify.com/s/files/1/0070/7032/files/shopify-ebay-integration-cedcommerce.jpg?v=1683038125\")
CedCommerce is a bulk listing tool that allows Shopify store owners to manage their inventory and sales across both their online store and the eBay marketplace. The app’s features include the capability to import eBay listings into Shopify, to sync fulfillment details between Shopify and your eBay store, and more.
Cost: Free to $79/month, depending on plan
\nNoteworthy 5 ⭐ review: “I have had a great experience with the app and the customer service is excellent. I am new to selling on eBay but putting products from my store to eBay is easy.” —Reeves Fitness
\nKey features:
\n![\"Demo](\"https://cdn.shopify.com/s/files/1/0070/7032/files/shopify-ebay-integration-codisto.jpg?v=1683038166\")
Convert your Shopify store into an omnichannel platform with Codisto’s automation features that sync with popular online marketplaces like eBay, Amazon, Google, and Walmart.
Cost: $29 to $249 per month, depending on plan
\nNoteworthy 5 ⭐ review: “In addition to their excellent customer support, the eBay integration on Codisto is top-notch. It’s easy to use and navigate, and it seamlessly integrates my store with eBay. I found the platform to be very user-friendly, and it made the entire process of selling on eBay a breeze.” —Moto Planet
\nKey features:
\n![\"Demo](\"https://cdn.shopify.com/s/files/1/0070/7032/files/shopify-ebay-integration-epi.jpg?v=1683038279\")
Professional Importer for eBay enables store owners to easily import eBay listings into Shopify with just a few clicks. Automatically import all active listings from your eBay account to your Shopify store, including images and variants.
Cost: Free to $60/month, depending on plan
\nNoteworthy 5 ⭐ review: “I have used the app to manage the inventory from my existing eBay store and it has proved to be a convenient tool for updating prices and listings into Shopify.” —Soul Fashion
\nKey features:
\n![\"Screengrab](\"https://cdn.shopify.com/s/files/1/0070/7032/files/shopify-ebay-integration-oneetsy.jpg?v=1683038216\")
OneEtsy can sync your Shopify products to multiple Etsy and eBay stores in a few clicks—no coding required. The app automatically modifies Shopify product data to comply with Etsy and eBay guidelines before importing, saving time and avoiding errors.
Cost: Free to $199/month, depending on plan
\nNoteworthy 5 ⭐ review: “Amazing, instant and helpful assistance from the technical team. Made this process super easy for a non techie like myself. Highly recommend it.” —Lemon Sage Soapery
\nKey features:
\nUsing a third-party app to integrate sales channels is a great way for online sellers to maximize reach—and minimize friction. Syncing your Shopify store with the eBay channel can automate tedious processes and give you a snapshot of your entire business. That means you can spend less time in the weeds and more time growing your brand.
\nYou can import eBay listings into your Shopify store using a partner app from the Shopify App Store. There are several apps that integrate with Shopify and your eBay seller account to sync inventory and orders. These eBay Shopify apps offer the ability to bulk import eBay orders and listings with a few clicks. Many also offer automation that minimizes friction for online sellers by auto-importing and syncing listings.
\nThere are several apps that connect your eBay account to your Shopify store to manage orders and inventory between the two sales channels. The app that’s best for your business depends on your needs and budget. Do you need it to import orders or offer real time sync? Are you looking for a free app to test selling on eBay with Shopify? Compare features and plans of each app for the best fit.
\nWhen you integrate your Shopify store and your eBay account, you get more brand exposure across multiple sales channels. Widen your reach by selling your products both through your own store and eBay marketplaces globally. This omnichannel approach can give your business instant exposure to new audiences and potential customers.
\nhttps://www.shopify.com/blog/shopify-ebay-integration
\nEcommerce gives business owners the opportunity to find new customers in other markets and scale more quickly. That can be crucial for businesses that don’t start in large markets.
\nTake Riley. It’s a clean period products company that was founded in Ireland, a country with a population of just over seven million.
\nBut Riley’s business grew by 12 times between 2021 and 2022, thanks to partnerships with corporate clients and local charities, and expansion across Europe.
\nFor other brands looking to expand outside a small market, Riley co-founder Fiona Parfrey shares her takeaways that helped the business scale internationally.
\n\nThe idea for Riley sprung from Fiona and her friends looking for a subscription service for their period products. “You can get so much on subscription, but a period is something that you get every month, and yet we always run out of these products,” Fiona says. “So having them delivered to your door conveniently whereby you never need to worry about them just made complete sense to us when we launched the business.”
\nBut people in Ireland aren’t as familiar with subscriptions as they are in other countries, so Fiona and her co-founders were not only educating customers on their products, but the subscription model as well.
\n“There was a little bit of hesitancy toward subscriptions here in Ireland,” Fiona says. “It’s not as common as in the US or even the UK, and so there’s definitely been an educational piece for us to just reassure customers that they’re not locked into any contracts. They’re always in full control of their subscription.”
\n\n
![\"Two](\"https://cdn.shopify.com/s/files/1/0070/7032/files/RILEY-01---Single-product-image---Pads-Regular_1_1_600x600.jpg?v=1683000888\")
\n
The founders of Riley also wanted to sell period products that were better for women and better for the environment. That means they needed to find a manufacturer that wasn’t putting harmful chemicals in tampons and pads and could make compostable wrappers and applicators.
\nThey looked at manufacturers all over the world, but ultimately decided on a supplier in Europe, where it was easier to verify their certifications and manufacturing process.
\n“Because it was so close to home, it’s really useful for us to be able to jump on a plane and visit our manufacturer and be on the ground,” Fiona says. This helped her have more control over quality and develop better relationships with the manufacturer.
\nFinding a nearby manufacturer also helped the co-founders launch in a short amount of time. From idea to final product, Riley became a reality in just four months.
\nRiley had such a successful launch that it ran out of packaging within the first week. “We were growing so quickly that we ended up doing more of the packing and operations than actually working on the business,” Fiona says.
\nAfter a few months, Riley began using two third-party logistics companies—one in Ireland and one in Europe—so customers all over the continent could get their products delivered more quickly.
\n\n
![\"Riley](\"https://cdn.shopify.com/s/files/1/0070/7032/files/RILEY-06---Single-product-image---Bio-based-App-tampons-Regular-1.1_1_1_600x600.jpg?v=1683000971\")
<\n
Riley’s partnerships and content marketing strategy across its website and social media have focused solely on the English market. That’s about to change. “We’re very aware that there’s different cultural nuances and language barriers when it comes to launching in certain countries,” Fiona says.
\nRiley decided to focus on expanding into one non-English speaking country this year and is planning to launch a German version of its site to test a new market.
\nRiley now supplies period products to corporate clients like Accenture and Deloitte. It also works with Ireland-based charities, like Positive Period Ireland and Her Sport, to provide products to provision centers and domestic abuse shelters, as well as provide funding for educational school visits.
\nTaking the brand’s social impact efforts global, Riley partnered with Development Pamoja, an Irish charity that does volunteer projects in rural Kenya. “It’s just incredibly rewarding to know that we’re having such a positive impact on people’s lives,” Fiona says.
\nTo learn more about how Riley is expanding throughout Europe and helping people all over the world, listen to Fiona’s full interview on Shopify Masters.
\nhttps://www.shopify.com/blog/riley-international-expansion
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