Running an internet-based business has its own set of issues compared to managing a business with physical locations. First, there are many different types of ecommerce businesses: e-tailers serving consumers, online businesses, internet marketers, business-to-business internet companies, membership-based sites, businesses supported by advertising revenue, bloggers, ecommerce websites, affiliate marketers, and domain flippers, to name a few.
A few of the unique accounting issues for online businesses include multi-state sales tax responsibility, revenue tracking from multiple systems, proper system selection, and integration issues. You’ll want someone who has already worked with clients with ecommerce accounts on Amazon, EBay, Shopify, and Etsy. It can be a challenge when revenue comes from multiple sources if you don’t have the right accounting system to capture and record it all.
We offer ecommerce businesses the following:
- Financial report preparation, including assistance in understanding your reports
- Chart of Accounts design for better expense management
- Multi-state sales and use tax reporting and compliance
- Benchmarking to your industry
- Tax return preparation and planning
- And more depending on your specific financial needs
Please give us a call or email us to schedule a free consult to discuss your ecommerce accounting needs.