Shopify boasts over 8,000 apps for eCommerce businesses to make use of, which equals almost unlimited data sources. While the additional control that an eCommerce business has in selling on Shopify vs a marketplace like Amazon is nice, it’s more challenging to do accurate bookkeeping and manage tax compliance while operating a Shopify store.
It’s keeping a real time pulse on the financial health of your Shopify business. eCommerce accounting as a whole is relatively new. You don’t measure your success on Shopify on a monthly cadence, yet most CPA firms are zoomed in and solely focussed on the monthly close vs taking a step back to understand your supply chain, COGs, your inventory turns, your marketing channels, and how you track inventory. We zoom out and have the ability to zoom in too!
It’s easy for an eCommerce company operating a Shopify Store to end up with financial statements that give an incomplete or inaccurate picture. There are a few reasons why this happens so often:
Fluctuating supplier and shipping costs, inventory tracking, returns and discounts…pulling that all together in a meaningful way is challenging. We help eCommerce businesses build new processes or can help improve current ones.
Standard accountants often lack the specialized knowledge required to make sense of Shopify specific data, how selling on Shopify actually works. From setting up a correct chart of accounts to understanding Shopify specific expenses a Shopify seller incurs selling on the platform, it takes years of experience to master Shopify accounting.
Most Shopify sellers have never experienced 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 of your current accountants work and will walk you through the results.
eCommerce business owners want a Shopify accounting 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.
Before anyone comes on board to do accounting with ECOM CPA we identify how you’re going to grade us, and have created an expectations document we both have to sign off on to make sure the relationship works.
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.
We offer accounting plans built for the stage of growth you are in, starting at $1250/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.