Stress‑free Accounting for your Shopify business

Shopify doesn’t provide accounting, so you’ll need someone else to do it. It doesn’t have to be you (in fact, it’s probably best that it isn’t). We can help you with Shopify accounting services that won’t require much of your time and cost reasonably.

The most important thing about Shopify dropshipping accounting (or any other type of Shopify business you’re in) is that every transaction is accounted for. A transaction is whenever money or assets go in or out. Every transaction should be tagged with a relevant tax rate and matched to statements from your banks. The next step is preparing reports. Some serve as tools to increase your performance: P&L, profitability, etc. Others have to be prepared and filed as per the government’s request: Estimated Chargeable Income, Tax returns.

Shopify allows you to select a variety of tax rates that apply to your various products. However, they provide no assistance in terms of calculating or filing tax. There’s no advise on various exemptions and tax reliefs you might be eligible for. To prepare Shopify accounting reports required by the Singapore government, such as Estimated Chargeable Income, or Tax return, you’ll need an Accountant. To benefit from various local incentives and pay tax smartly, you need a tax adviser. Osome serves as both, developing and filing the necessary reports, making sure you receive the exemptions and checking on the changes and opportunities in the tax regulations.

Absolutely. We make the transition seamless on your end. We’ll get in touch directly with your current accounting service provider, take over all your financial documents, and audit them to make sure your company is compliant. We check for any loose ends with HMRC, organise historical data, and then prepare and file necessary reports. We offer up ongoing advice about relevant tax exemptions, helping you be smarter with your taxes. Now that your accounting is in good hands, you can focus on what you do best: running your business.