With Flippa you can now connect your financial data. This can be done by uploading documentation or effective immediately, customers of QuickBooks can ‘one-click’ connect. Assuming your business is in a good operational state, there are two main determinants to a sale – price and financial health. As it relates to financial health, this is about giving a prospective buyer comfort in what they are acquiring. Think of it like buying a used car — one wouldn’t spend the money without first looking under the hood, viewing accident and incident reports, and taking it for a test drive. Viewing your financial data is analogous to taking a car out for a test drive.
Quickbooks is one of the leaders in this space and we are delighted to announce our integration. With this service, Flippa is making it easier to list and faster to sell.
So, how does it work?
- Start Selling with Flippa
- Merchandise your business
- Look out for the Quickbooks connection
Once you have connected the following will auto-populate:
- Annualized Revenue and Cost data
- Prior 3-month performance as a means to assess your current state of operation
- A P&L covering the prior 12 month period
Why is Flippa doing this?
It’s quite simply the most important verification point when considering a business’s value. We know that businesses with access to verifiable financial records sell faster and are more trusted.
Flippa’s integration with Cloud accounting software is an industry first. Buyers can now benefit from increased transparency into financial verification to assess the performance and viability of a business prior to engaging in conversation with sellers. With this integration, sellers can now connect and reveal their financial information to buyers much faster, with less work.
Check out the video tutorial below for more information.