Efficient ecommerce accounting services

The rise of the internet has transformed society around us in just a few short decades. As life rapidly moved online, retail quickly followed suit. Once a mere online bookstore, Amazon has become a global behemoth. The Alibaba Group now brings in $72 billion annually — only 21 years after being launched in Jack Ma’s humble apartment. It’s safe to say that the ecommerce revolution is well underway.

The definition of ecommerce accounting is reporting about your ecommerce business financials to the government. As an online vendor, you move products in and out, manage stock, and sell to customers in different countries via different channels.

There are several things your ecommerce accounting includes:

• Bookkeeping, which lists every transaction. For example, when you accept products to your storage, or sell on Amazon, or have to accept back a pair of shoes on eBay. Bookkeeping keeps track of every money or asset movement, and provides a document covering every such event.
• Management reports, which gather all the sales data and try to make sense of it. For example, how much of each product you sold, what are the costs of operating every channel, and where do you actually make money.
• Tax filing & statutory reports. These depend on where you sell, for each government has a different tax system. Tax reports constitute a very detailed recount of every transaction and the categories they fall under. Depending on the categories, different types of tax are derived. An experienced accountant can also help make sure you get the benefits and exemptions available to your business under each specific tax code.

Our pricing is revenue based. We don’t charge on the number of transactions in your account or the number of invoices you upload. All prices are based on the financial year, not the calendar one.