Shopmonkey Accounting gives you a real accounting ledger built directly into your shop management platform. Every repair order, payment, and transaction flows in automatically. You (or your bookkeeper) manage the books. No second system. No manual exports. No sync.

Two Options to Choose From

Both options give you accurate, real-time financials built into Shopmonkey. The difference is who does the work.

• Bookkeeping: Done for you every month. A dedicated bookkeeper is assigned to your shop. They close your books, reconcile your accounts, and deliver clean financials. You review and move on.
   
• Accounting: Real-time visibility, self-managed. Accounting software built directly into Shopmonkey. Every repair order auto-posts to your ledger. Your P&L, balance sheet, and cash flow are always current.

Please note, this accounting solution works on a cash basis method and does not work on an accrual basis. Additionally, it is currently only available for the shops located in the United States.

Enable Shopmonkey Accounting

Please reach out to our Success team to enable Shopmonkey Accounting or feel free to book a demo. 

Link Business Bank Accounts & Credit Cards

Shopmonkey Accounting connects to your business bank account(s) and credit card(s) to streamline and automate your bookkeeping each month.

Check out Shopmonkey Accounting: Manage Linked Bank Accounts & Credit Cards to learn more.

Categorize Transactions

Shopmonkey will automatically pull in transactions from your connected bank accounts and label them with suggested bookkeeping categories.

Check out Shopmonkey Accounting: Manage Business Transactions to learn more.

View Shop Finances and Reports

As you categorize your transactions, you can access live charts and reports to review your business financials.

View overall shop financial performance on the Shopmonkey Accounting Overview page.

Check out Shopmonkey Accounting: Overview to learn more.

Dive into the details of your shop's financials in your Shopmonkey Accounting Reports.

Check out Shopmonkey Accounting: Reports to learn more.

Migrating Accounting System Data to Shopmonkey Accounting

1. In your accounting software, create a new read-only user:
   1. In Quickbooks - go to settings (the gear icon) > Manage Users > Accounting Firms and create a new read-only user with this information
   2. In Xero - go to settings > Users > select “Invite a User” > enter user details (listed below) > set the business role to “Read only” > send the invite
   3. Other Accounting Softwares (not QuickBooks or Xero) - please email accounting-migration@shopmonkey.io to determine data migration steps
2. User Details (in either Quickbooks or Xero):
   1. First name: [your Shop name]
   2. Last name: Accounting
   3. Email: accounting-migration@shopmonkey.io
3. Once that’s complete, email accounting-migration@shopmonkey.io letting us know how far back you would like us to migrate your data and confirming that you have given us access.

FAQ

Do I need to cancel my QuickBooks subscription?

No — both products are compatible with QBO or can replace it, your call. Many shops keep QBO for their CPA's workflow and use Shopmonkey for day-to-day visibility. Either way, the manual export step goes away.

How much time does the monthly review take?

About 20–30 minutes. Your bookkeeper closes the books and delivers a clean package. You review, ask questions if needed, and you're done. Most of the back-and-forth is about 15 minutes of clarifying questions early on, then it gets faster.

Will my bookkeeper understand my shop?

Your bookkeeper understands how auto repair shops are structured — parts vs. labor splits, core charges, EPA fees, supplier credits. They won't ask you to explain what an RO is.

Does Accounting replace my bookkeeper?

Accounting is software, not a service — it gives your bookkeeper cleaner, more organized data to work with. If you want someone to manage the books entirely, Bookkeeping is the right plan.

Is my financial data secure?

Yes. Bank connections use Plaid, read-only access only — your data is never used to move money. All financial data is encrypted at rest and in transit.

Can I switch between Bookkeeping and Accounting later?

Yes — if your needs change, you can switch plans. A shop that starts with Accounting and grows into wanting a managed service can upgrade to Bookkeeping. Talk to your account team when you're ready.

When does my first close happen?

Within 30 days of sign-up, provided your bank is connected and you've completed the onboarding conversation with your bookkeeper. Books are typically delivered within 5 business days after each month ends.

What if I capitalize inventory on my balance sheet?

If your accountant tracks parts inventory as a balance sheet asset rather than expensing it at purchase, these products may not be the right fit. Most independent shops expense inventory at the point of purchase — if you're unsure, check with your CPA before signing up.

Still have questions? Feel free to reach out to us through the chat icon. Thanks for reading!