Ecommerce CPA Services

For example, Kruze recently noticed one of the software packages was understating what a company’s revenue was in a certain state – so the tax was going to be lower. But, because we know the client so well and because we know the books so well, we were actually able to figure that out and correct the amount. For now, we have plenty of resources that come from the expertise of our gurus who handle ecommerce accounting every, single day. From our YouTube channel with DIY tips, to our downloadable guides on sales tax compliance, inventory, accounting, and financial operations, to our courses, we have the backs of small sellers. We believe that it’s our team’s job to help save our CEOs time and take care of the basic bookkeeping tasks that other services dump onto their clients.

• Shopify can be used as a one-stop shop to hold all the sales information from your different ecommerce sales channels.
• Whether you are a US Citizen or Foreign Seller operating a business in the US, we can help with your taxes (US filings only).
• And they’ll look and see and look at the laws in different states and the thresholds and figure out if you have to file and pay taxes in those states.
• Building the bridge to the next stage of growth for your eCommerce business is challenging.
• And then we break out the second line item, which is shipping fees.
• With the right software, you can streamline processes to significantly reduce risks.

Our account management team is staffed by CPAs and accountants who have, on average, 11 years of experience. We’re huge fans of Vanessa and ecommerce accountants near me the folks at Kruze Consulting. They set up our books, finances, and other operations, and are constantly organized and on top of things.

Dalian University of Technology

Technology makes us more efficient, saving our clients money and letting us offer higher value services like FP&A modeling, 409A valuation, and treasury advice. Shopify can be used as a one-stop shop to hold all the sales information from your different ecommerce sales channels. It tracks each of the different channels and then puts together a report to give you visibility into how many products were sold via each channel.

We feel honored to be a part of making the world a better place, even if it’s one debit and credit at a time. If you have a high-performing e-commerce business, you need to stay on top of your payments coming in and money going out. Knowing your real-time financial situation allows you to make data-driven business decisions, and proactively solve problems instead of reactively.

ACCOUNTING FOR E-COMMERCE

Depending on the situation your eCommerce company is in, you may start off bootstrapping. Founders often ask, “how should I finance my eCommerce business? ” The good news for eCommerce entrepreneurs is that a few financing options are available to help them get up and running pretty quickly and produce a positive gross margin, positive net margin. Not only does QuickBooks online nicely integrate with Shopify, but it integrates with payment tools you may use, such as PayPal, Stripe, and other payment options you may be receiving. And that’s one of those things that if it’s incorrect, it can come back and bite you a couple of years down the road because the states will actually audit your company and audit your records. And there are penalties for underpayment that you want to avoid.