As an e-commerce business owner, you have to deal with customers, orders, inventory management, logistics and keeping up with industry trends. Let us help your with your e-commerce bookkeeping & e-commerce accounting while you focus on managing key business operations. 

Effectively manage your cashflow, merchant fees, returns and inventory management fees with AquiferCFO

As an e-commerce business, your funds are released two weeks, 15 days after a successfully completed transaction leaving you without cash for the first 2 weeks. Therefore, cash flow management for an e-commerce business is essential, ensuring you have enough money in the bank to pay your expenses before you get paid. Stay updated with your cash flow, merchant expenses, and gain confidence in running your business with AquiferCFO.

Tailored Services for E-Commerce

Merchant Fees & Foreign Exchange

Starting your e-commerce store is easy; however, there are quite a few moving parts you have to consider. One of those parts is merchant and foreign exchange fees. Keeping track of merchant fees locally and globally can be very complex. Margins in the e-commerce business are relatively low, and merchant fees can eat into your profitability. Therefore, accurately keeping track of these numbers is important when running an e-commerce business. Our ecommerce bookkeeping services include meticulous tracking of these fees to ensure your profitability.

Inventory Management & Planning

Inventory management is crucial for maintaining optimal levels of stock while minimizing costs. However, buying inventory is a capital-intensive process, and it’s important to understand how much cash you have in the bank so you can make the correct purchase decision. It’s important to effectively plan for forecasting demand and implement cost-effective strategies to optimize cash flow. Our ecommerce accounting services help you manage and plan your inventory effectively.

Financial Reporting for Ecommerce

As in any business, financial reporting is crucial to success. It's important to drill down into the marketing costs, sales revenue, and the customer acquisition cost. These metrics will help you gain transparency into the business, so you can make strategic long-term decisions. For an e-commerce business, managing cash flow is essential. To effectively manage cash flow, you must understand the cost and revenue for each transaction. Our ecommerce bookkeeping services provide you with detailed financial reports to support your business growth.

E-Commerce Tax Complications

Most e-commerce businesses sell globally; therefore, it’s important to understand how taxes are calculated and what your obligations are when you pay your taxes. For example, if you are selling in the US but have a store in Canada, do you collect sales tax from each state? If yes, how do you submit the collected sales tax? These are all important questions that require careful consideration. Efficient tax management ensures the appropriate amount of taxes is paid promptly. Our e-commerce tax accountant specializes in handling these complexities.

Unlocking Growth Potential: Important Accounting Insights for E-commerce Success

Internal COGS (Cost of Goods Sold)

Understanding internal COGS is important for determining pricing strategies and profitability. For example, costs related to manufacturing, storage, acquisition, and delivery can help identify opportunities for cost reduction, ultimately improving efficiency. Our ecommerce specialist accountant can help you understand and manage your COGS effectively.

Burn Rate

E-commerce businesses require timely cash flow management. Ensuring that you get paid before inventory, warehouse, and logistics expenses, and more is important. Otherwise, you will run out of capital and go bankrupt. Keeping a close, tight loop on cash flow ensures you don't run out of money and provides insight for further planning and growth. Our ecommerce CFO services can assist you in managing your burn rate efficiently.

Categorizing P&L

The P&L categorization allows an in-depth analysis of financial performance, allowing for insights into the profitability of specific segments or product lines. By breaking down financial data in this manner, businesses can pinpoint areas for cost management and revenue optimization. Our accounting services for ecommerce businesses include detailed P&L management.

Debt Budgeting

As an e-commerce business, you often need capital to buy inventory and set up infrastructure. Oftentimes, businesses will take out loans to fund the venture. However, these loans come at a cost, and it’s important to strategically manage these debt obligations so they stay in line with the financial budget. Getting ahead and mitigating the risk of over-leveraging avoids financial strain but also builds a stable foundation for your business. Our accountant for ecommerce businesses can help you with strategic debt budgeting.

P&L Management

E-commerce businesses typically deal with a large volume of transactions. Sometimes, sales are seasonal, and they fluctuate, and sometimes, they are very slow depending on the products sold. It’s crucial to maintain the P&L on a timely basis, providing you with an accurate description of your business every month. This will maintain the financial health of your business and also aid in informed decision-making. Our ecommerce bookkeeping services ensure timely and accurate P&L management.

Transaction Summaries

Maintaining records for each transaction, which includes the sales tax, the shipping cost, the fulfillment cost, and more, is key to running a successful e-commerce business. The input costs can increase, eating into your profits. Therefore, it’s important to have transaction summaries so you can always have visibility into the transactions. Our Shopify bookkeeping services provide you comprehensive transaction summaries to keep you informed.

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