This means training for tasks like strategizing and planning for the future based on your reports. If you have never used QuickBooks before, we can even help set it up for you, migrate your data to it and then teach you how to use it. A bookkeeper is someone who produces your accounts and documents daily financial transactions. Bookkeeping help aims to show you where your business stands financially at the moment, and is where accountants look into the bigger picture of your business’ financial health.

“Aside from revenue and expenses, the key thing is managing your cash and your cash flow. There’s usually a misconception that if you have revenue of X amount, then you have cash of that amount just sitting there, but that’s not necessarily the case,” says Charlie. Do you have money in the bank, how much, and what does that money need to cover? The bookkeeping process requires careful analysis and a little legal know-how. In the event your business is ever audited, you want to make sure your records are in order and deductions are legitimate. Cash that flows out of the company to pay for assets or services (e.g., utilities, business insurance, salaries).

Online ecommerce Bookkeeping Services

When a customer makes a purchase in another currency, you’ll need to reconcile the sales. The National Retail Federation found that merchandise worth $761 billion bought online got returned in 2021. A clear return refund and exchange policy will encourage online shoppers to purchase. If you have many repeat customers, your return rate will probably be lower than average. The items you sell and your customers will determine your return rate.

After many years of experience, Giersch Group has consistently found that QuickBooks™ Online is the best accounting software for ecommerce ecommerce bookkeeping services businesses. As a certified QuickBooks™ Online ProAdvisor, we’ll provide custom training to help you best utilize this software.

Tracking Inventory Across Sales Platforms

Financial reporting is crucial, and proper accounting systems will ensure your balance sheet is accurate. The accounting software you choose will depend on what you want the system to deliver. Bookkeeping involves correctly organizing, categorizing, and storing your financial transactions to provide business insights and help with audits and taxes. An online accounting firm can ensure that the accountants give you the correct figures and help you control your liabilities. They will use their expertise to ensure that your company makes more money.

It helps reduce billing errors by ensuring your account balance is up to date. It also helps save time because integrated systems don’t require manual data entry, making it easy to access your https://www.bookstime.com/ accounting records anywhere. These fees are taken out for each purchase so they show up as net sales instead of gross sales. Prioritize an eCommerce platform that can scale with your business.

Foreign Sales

If we didn’t meet or exceed customer expectations with our forward-thinking expertise, we wouldn’t be in business today. They asked right questions to make sure that they understand your books. It has been an absolute fantastic experience working with Axiom Accounting and Bookkeeping team. You can book a free discovery call here or book a paid consulting call with a member of our leadership team. You can sell your products around the clock and around the world. ​​We are dedicated to keeping clients abreast of tax law changes, planning strategies and vital tax-related information. I have more time to run my store effectively, and the expertise and guidance to keep me compliant.

• Accounting, tax, and financial strategies tailored by experts to reach your specific business goals.
• For more robust solutions, Xero integrates with many best-in-class inventory management applications.
• You can easily build custom workflows and create a bookkeeping system that grows with your business.
• Bookkeepers track all costs and income, to help a company make informed financial decisions.
• Despite what some people believe, any business that sells taxable products needs to collect sales tax in the jurisdictions where they have nexus.
• Sort them into expense categories, both to keep yourself organized for tax season, and to get a look at how much you’re really spending on inventory orders versus advertising.
• Our goal is to give you better data so that you can make better informed, strategic, business decisions.