Scaling your eCommerce business requires a perfect understanding of revenue and expenses.
Our eCommerce accountants know that your interest isn’t the profit and loss statement or the balance sheet in itself, rather the financial health of your eCommerce business and the story those numbers tell.
It’s easy for eCommerce businesses to end up with financial statements that give an incomplete or inaccurate picture. There are a few reasons why this happens so often:
Multi channel sales data, fluctuating supplier and shipping costs, inventory tracking across multiple platforms and warehouses, returns and discounts. Pulling that all together in a meaningful way is challenging. We can help you build new processes or improve your current ones.
Connecting the right technology in the right way can provide a real-time pulse on your business, empowering proper cash flow management and more accurate forecasting. We’ll guide you in choosing or optimizing your current tech stack so that it’s tailored for your business needs.
Standard accountants often lack the specialized knowledge required to make sense of eCommerce-specific data. From setting up a correct chart of accounts to tracking ad spend across multiple channels, you need a professional eCommerce accountant on your team.
Most eCommerce businesses have never seen proper eCommerce accounting in action, and the bar is set pretty low. Wondering if your current accounting is being done correctly? We offer a no cost evaluation and will walk you through the results.
eCommerce business owners want a firm that gets up to speed fast and delivers financial reports consistently on time.
Our aim is to get you up and running within just six days. The onboarding phase includes a ‘Client Health Check’—our proprietary method to identify the areas that need immediate focus.
To lay a foundation that supports scalable growth, we spend the first quarter understanding your payment processors, banking, debt, supply chain, technology, vendors, and manufacturing processes (if applicable), with a particular focus on nailing down inventory and COGS.
Need us in the books more frequently during peak season…a weekly cash flow statement? Want more meetings initially or when launching new products/sales channels? We offer a tailored approach to meet your specific needs.
Did you know that all of these items are dependent on having a proper eCommerce accounting solution in place?
If you need additional cash for a new product launch or to accelerate growth, lenders will want a minimum of 12 month trailing financial statements, utilizing the accruals method of accounting.
If your accounting is wrong you won’t know if you have the cash flow to purchase more product or when you need to adjust pricing
Effective planning requires an understanding of a company’s cash flow. Knowing when significant expenses or income will occur can help in strategizing for tax liabilities.
Without accurate accounting, it becomes nearly impossible to correctly assess how much you owe in taxes or claim in deductions, leading to potential legal consequences and financial losses.
Proper accounting allows for regular reconciliation of the sales tax collected versus what is owed, identifying discrepancies and allowing for timely corrections, and is your core support in the case of an audit.
We offer accounting plans built for the stage of growth you are in, starting at $1,188/month. Our Basic Accounting with eCommerce bookkeeping is far more advanced than some firms’ Premium Offering and includes:
Here are a few reason why ECOM CPA may not be the right firm for you:
When looking for the right accounting partner, it’s critical to compare potential solutions side by side. We’ve identified the most important factors to consider before choosing an accounting firm, based on asking every interested party we meet with “how are you going to grade us when it comes to your expectations,” and then layering in all we’ve learned about eCommerce from the beginning of ECOM CPA till now.
Get in touch and learn exactly how we can help simplify your finances.
