E-Commerce Accounting Services
E-COMMERCE ACCOUNTING SERVICES
As e-commerce becomes more popular amongst consumers, scaling your online business is more critical now than ever before. Our team will customize a financial strategy aimed to reach your goals. We offer a multitude of services that can not only help scale your business but increase your profits!
Our professional bookkeeping services include management of your accounting records and preparation of key financial statements on a monthly basis. Our team ensures the accuracy and timeliness of your financial data. We’re efficient and make accessing your e-commerce books easy and from any device with the use of cloud-based technology.
Whether you file Form 1120 or 1065, your e-commerce business is required to file it’s tax form every year. If you’re behind on your taxes, it’s important to get caught up to avoid possible penalties. Our team of CPAs, tax consultants, and IRS experts help you stay compliant while also maximizing your deductions. Our team will also help you tax plan that considers your individual tax return.
CFO services take managing your business finances to the next level. Our team provides you with financial projections and budgeting reports that helps predict your sales and expenses. You will have the information you need to keep the right amount of inventory on hand to meet demand. With these tools and the expertise of our team, your business will operate more efficiently.
Why Use E-Commerce Accounting Services?
Whether your e-commerce business is B2B, B2C, C2C, or C2B, you need to have an accounting process in place that manages all of your transactions, pays applicable sales and income tax and promotes growth and profitability. Consider these facts:
- 8 out of 10 businesses fail due to lack of financial management
- 50% of small businesses have a CFO managing their accounts
- 89% of business owners see more success working with an accountant
E-commerce accounting is not only for online retailers. It’s for businesses with brick-and-mortar locations with an online presence too.
E-commerce accounting is necessary for business owners who want to take control of their business finances and make better business decisions. If you sell just online, or just in the store, or a combination of both, your accounting solution needs to be tailored to fit your needs and meet your goals.
Benefits of E-commerce Accounting
By prioritizing e-commerce accounting, you will be able to develop a predictable and measurable way to grow your business. Specifically, you will be able to:
- Make profitable decisions based on accurate financial statements
- Spend more time working on other areas of your business
- Stay compliant on applicable tax requirements
- Predict future income and expenses
WHAT MAKES OUR E-COMMERCE ACCOUNTING SERVICES UNIQUE?
We have experience in providing accounting services to e-commerce companies. We place you with an in-house professional with experience in e-commerce accounting. You are in trusted hands of someone who truly understands your business and industry.
No 2 businesses are exactly alike. Especially those in different industries. We make sure to set up your chart of accounts, reports and returns in a way that is specific to your industry. You will receive reports that is specific to your business.
Our team comprises of Certified Public Accountants. We have the knowledge, experience, and credentials to support the services we provide. We are experts and have combined experience of over 35 years in accounting and finance. Rest assured that there is not an accounting issue we have not encountered.
E-commerce Company Key Performance Indicators
Average Order Value
Drive more sales by understanding how much your customers are spending. Encourage more sales by offering bundle deals at checkout, showcasing complimentary products and more.
Revenue on Ad Spend
This metric tells you how well your advertising efforts are at producing sales.
Customer Acquisition Cost
Understand how much you’re spending to acquire one new customer and improve your average order value.
OUR METHODS TO E-COMMERCE ACCOUNTING
We take the time to catch up your books to the present month.
We use e-commerce industry standard jargon to set up your chart of accounts so that reviewing your financial statements is easy and tax return filing is a breeze.
We gather data. Whether you use Paypal or a credit card processor, we incorporate this information into your books. We will also connect your financial accounts to your bookkeeping software and begin data entry.
To ensure accuracy on your financial statements and ultimately your tax return, we reconcile your accounts.
We prepare your financial statements. The financial statements include income statements and balance sheets.
We help you use your reports and KPIs to make informed, profitable decisions.
Take the Next Step Toward Financial Success for Your Online Company
What are your goals with your e-commerce company?
To make more sales and spend less, right?
You can only work towards goals like this by having a cleat understanding of finances today.
The key to having an effective accounting process you are happy with is by having the right information presented to you through financial statements. With this information, you can plan and execute decisions that are aligned with your goals.
We will make sure to give you all the information you need to make profitable decisions for your e-commerce company.
“My experience with LYFE Accounting was nothing short of amazing. Krystal is professional, detail oriented, and truly cares about her clients. I will continue to use LYFE Accounting for all of my personal and business tax needs as well for my business bookkeeping needs.”
– C. James