Virtual Accounting Services for E-commerce & Online Retailers

We don't connect to any e-commerce platforms. Instead, we securely connect to over 14,000 banks and credit card institutions. Payments made through payment processing platforms such as Stripe are typically deposited into a bank account that appears in your books. Providing a report from Shopify, Stripe, and other prominent platforms to your full-service bookkeeper allows them to reconcile these amounts in your books efficiently.

Sales tax compliance requires regular monitoring, with each state having different filing requirements and dates. We closely monitor sales tax obligations and file sales tax on your behalf using state sales reports.

Our accountants have advised thousands of e-commerce business owners with nuanced, strategic tax support. This extends to a diversity of scenarios. For example, inventory costs are recognized as a business expense once the inventory is sold. But what happens if you purchase two identical items for resale at two different price points, say $10 and $15, and you sell one of the two. What costs would you use? In this instance, your accountant, experienced in e-commerce, would present your options on whether to use FIFO or LIFO methods to change the cost of goods sold in a way that is favorable to your operations.

Operational management is the key to improving profitability for your e-commerce business. Your accountant will provide guidance so you understand your margins and turnover. For example, if an item is twice as profitable but takes three times as long to sell, it may not be worth prioritizing as the turnover rate is lower.