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Why do you need to hire a bookkeeper?


Bookkeeping is an essential activity for any eCommerce business. Bookkeepers are responsible for providing accurate, up-to-date financial information about a business. They’re always taking the pulse of a business. But not all bookkeepers are created equal. Specialist eCommerce bookkeepers are experts in the world of online business. This means that they can provide an efficient and effective service for your operation. Bookkeepers also carry out a range of processes that are important to your company’s finances and overall operation, such as:

  1. Weekly tasks like payroll, collecting sales tax, and sending invoices.

  2. Monthly processes like reconciling bank statements and reviewing balance sheets.

  3. Quarterly checks like reviewing and adjusting budgets.

  4. Yearly responsibilities like finalizing financial reports and submitting them to the tax accountant.

What Makes E-commerce Bookkeeping Different? The eCommerce landscape has some unique features compared to traditional bookkeeping. You’re making the same dish. But your ingredients are different. E-commerce has some key challenges:

  1. Sales tax obligations vary depending on your location and that of your customers. Every US state has different rules. And so does every country if you’re selling overseas.

  2. Your audience is broader, so transaction volumes are higher. And every transaction is subject to seller fees, shipping, and other costs.

  3. You’re managing inventory across multiple sales channels and locations. Or using a third-party fulfillment service like Amazon FBA.

  4. Your payments from sales channels like Amazon don’t represent your net profit. You’ll need to match each payment with sales, returns, shipping, sales tax and fees.

It sounds complicated, and it is! But specialist eCommerce bookkeepers are used to these quirks. They have solutions already in place. Why You Should Hire A Specialist E-commerce Bookkeeper?

This gives them some key advantages:

  1. They know the landscape E-commerce bookkeepers are experts in the world of eCommerce. They’re familiar with sales tax, inventory management and sales channels. They understand the bookkeeping needs of eCommerce businesses, and they’ve done it all before. You won’t waste time getting them up to speed. And you can be confident that your accounts are in the hands of a pro.

  2. They’re confident with technology E-commerce businesses conduct most (if not, all) of their affairs online. Specialist eCommerce bookkeepers are tech-savvy and comfortable working remotely. They can fit into your team seamlessly, from anywhere in the world. They’re confident using specialized software like QuickBooks. And they should be aware of helpful integrations of different softwares that will make your bookkeeping more efficient.

Do you need assistance in scaling your business to the next level by saving time and adding accounting value? Book a call with me for a strategy session: https://calendly.com/legacy_solutions/strategysession


XOXO


Darneisha Petit-Beau

E-Commerce CFO

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