Acquiring another business or franchise also calls for an accountant’s involvement – likewise, if you’re looking to sell your business. Selling and buying are both huge financial risks – ones that you shouldn’t take without some expert advice to guide you. When it comes to deciding when to hire an accountant for your business, several factors come into play. However, if your business is still relatively small, your primary consideration is likely whether you are generating sufficient revenue to justify the investment. Because of the complexities mentioned above, ecommerce sellers will have the easiest time using an accountant familiar with and dedicated to ecommerce clients.

I would say that experience is better than qualifications alone, but certification gives some reassurance your bookkeeper is qualified to do the work. It is also a good way to discount other online bookkeepers, if they aren’t qualified, move on. The good news is looks don’t matter in bookkeeping, thankfully for us, but experience sure does.

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Review policies and safety nets can give you insight into the firm’s operations, and streamlined workflows will have a positive impact on your business’s bottom line. Are you ready to eliminate all the busywork between your sales channels and your accounting systems? Your bookkeeper should have a background that includes business and accounting, as business education alone doesn’t equate to top-notch bookkeeping skills. Make sure your bookkeeper has the formal training to help you not only solve any problems that arise but also prevent them from happening.

Sterlinx Global can even assist you with rebate claims if you’ve overpaid taxes—those refunds can go back into the business as additional inventory or capital. All of our ecommerce CPAs, accountants, and bookkeepers at LedgerGurus have been working 100% remotely since our founding in 2014. We span the United States and serve clients across the United States and even other parts of the world. LedgerGurus is a cloud-based, ecommerce-specialized accounting firm, headquartered in Utah. We relieve the stress and overwhelm our clients feel by freeing them from their accounting headaches.

DAILY BOOKKEEPING

This is usually done through an engagement letter that both parties sign. The A2X Directory is a global network of expert ecommerce accountants ready to help businesses like yours. We charge a monthly flat rate that includes ongoing bookkeeping, as well as any discounted software billed through Seller Accountant and any CFO service https://www.bookstime.com/articles/hiring-an-ecommerce-accountant add-ons. E-commerce accounting differs from traditional accounting procedures. E-commerce accounting comes down to the complex sales tax nexus for online sales, shipping and inventory challenges, and the issues arising from international sales. Invest in key services to increase your bottom line and help your business grow.

With proper tax planning, your business can reduce its tax liability by deferring or accelerating income, or holding off or reflecting expenses. Whatever you choose, rest assured that accountants will keep your finances on track by paying attention to your taxes. Since they have an outside view of your business’ accounts, they can give you a summary of current performance and health—is your company earning or losing money? Also, monitoring the key metrics and crucial aspects—such as cash flow—lets you understand financial matters at a glance. But when you work with a team of experienced eCommerce accountants, there’s no need to worry over the minute financial details of your business.

Why Hire a Specialist Ecommerce Bookkeeper?

Ideally, you want at least one person on your e-commerce tax accountant’s team to be licensed to submit tax forms and documents that require this certification. Using accountants for ecommerce means you already have a shorthand—they understand your business model and can immediately start digging into your books to get what they need. If you’re ready to find an ecommerce accountant or bookkeeper right now,
check out the A2X Directory. Cost of Goods Sold, or COGS, can be one of the most difficult concepts for online sellers to wrap their heads around. Even if a seller understands the basic concept, it can be difficult to plug COGS into accounting software or report COGS in a way that gives you a clear look into your business’s financials.

• If you’ve got ambitions to expand in a big way, you need someone to help with your business plan financials and access to additional finance.
• If you want help with investment, payroll, personal tax returns, or anything else – ask up front to avoid having to do it yourself, or get someone else involved.
• Some entrepreneurs work with a professional to help them determine the best company structure, create a business plan, or even decide when to sell their company.
• We learn about your business and your goals so we can pursue your success together.
• Your bookkeeper can help to establish when bills are paid, how often to review the books, how transactions are posted, and much more.

We help our clients succeed by giving them solid, reliable numbers to build their businesses with. It’s important to consider whether the bookkeeper you’re considering is skilled in using your accounting system and working with the channels you sell on. If they’re working with a specific cloud-based accountancy platform, you’ll also want to ensure that they have the appropriate certification – such as Xero Advisor Certification and partnership. This would depend on which of the above routes you take, but if you are to outsource to an eCommerce bookkeeping expert, it is important to get comfortable and ask the right questions. Second, going through the tons of resumes and profiles is a major chore… and then you still don’t know if your pick will work out. Anyone can create a profile on the site, fake skills, fake experience, and make big promises while delivering poor quality work.