Learn how to navigate financial management for online education programs and software with QuickBooks, and the guidance of a CPA. With the right software, you can streamline processes to significantly reduce risks. This includes automating client feedback, package tracking, inventory, and invoicing. Our CPAs recommend the following software options for e-commerce and retail.

Our certified tax accountants provide tax services for both personal and business filings and our philosophy is “not more clients, the right amount while doing higher quality work. Your net profit is going to feed into both your balance sheet and your cash flow statement. And we are very thankful that Shopify does provide that invoice because it allows the Kruze Consulting accountants to deliver accurate financials for the e-commerce customers. Luckily, Shopify provides an invoice, so you can see the itemized platform fees and shipping fees in your account for every month. What a good accountant would do, like us at Kruze, is we go into that invoice and we break out the platform fees. And then we break out the second line item, which is shipping fees.

Why Choose LedgerGurus as Your Accountants for eCommerce?

Our clients are portfolio companies of top technology and Silicon Valley investors, including Y-Combinator, Kleiner, Sequoia, Khsola, Launch, Techstars and more. With us, your books and taxes are in order when it’s time to raise another round of venture financing. Our practice is built on best of breed cloud accounting software like QuickBooks, Netsuite, Gusto, Rippling, Taxbit, Avalara, Brex, Ramp and Deel.

Both of these technically should be in cost of goods sold, but the way it automatically comes into QuickBooks, it is just like one big bundle of fees. If you haven’t been keeping track of your books by the time you raise your first outside money, you need to get your books in order. This startup financial model is used to negotiate the size of the option pool needed at a venture round. Our premium package offers access to strategic expertise from professionals that understand your startup’s needs. Startups are more successful when they can accurately budget and plan for growth. Below, is a list of six of the most common challenges to eCommerce accounting.

South China University of Technology

LedgerGurus is a cloud-based, ecommerce-specialized accounting firm, headquartered in Utah. We relieve the stress and overwhelm our clients feel by freeing them from their accounting headaches. When we evaluate other firms who provide eCommerce accounting services, we find mistakes more than 70% of the time.

• Knowing where your customers are coming from and what and how much they’re buying is important.
• Kruze’s team automates everything that makes sense, but each of our clients gets an experienced, US-based accountant to look over the financials every month and catch any issues as they arise.
• Your eCommerce accounting income statement will tell you how much revenue you’re generating.
• This means that we can be awesome ecommerce accountants for you, even if we’re not near you geographically.
• You can own or rent a warehouse and handle all the inventory responsibilities, or you can hire a third-party logistic provider to manage it all for you.
• This is why accurate, honest, and up-to-date virtual tax planning is so important.

We go further by analyzing key financial metrics that truly determine the health of your company. These metrics that relate to cash management and profit analysis will help you make effective ecommerce accountants near me decisions. Building the bridge to the next stage of growth for your eCommerce business is challenging. You should work with a partner who has clients already at the place you are going.

Huazhong University of Science and Technology

And the numbers behind the business are critically important, helping founders avoid cash crunches, unwanted excess inventory, unexpected return ratios and more. Specializing in industry niche solutions, multi-sales channel operations, omnichannel marketing, reconciliation of merchant accounts, and more. In this phase, we collaborate closely with you to design a tax strategy that effectively reduces your tax burden. We also focus on streamlining your accounting processes by analyzing your current systems and introducing tax optimization strategies. During the stabilization phase, our team will address any accounting clean-up tasks that need to be executed to stabilize your business. At Fusion, our CPAs have helped hundreds of e-commerce furniture retailers overcome accounting hurdles to increase profitability and ensure regulatory compliance.

We help our clients succeed by giving them solid, reliable numbers to build their businesses with. A regular accounting service leaves out a great deal of vital information. Partnering with a CPA that understands this can help you avoid costly legal issues. We play chess with the IRS so online sellers can keep more of their money. EduRank.org is an independent metric-based ranking of 14,131 universities from 183 countries.