No matter how small or large your e-commerce business is, to stay successful and grow your company, you must keep track of inventory, cash flow, expenses, receivables, and other important financial metrics. In addition, you must have a website that attracts customers, keeps them engaged and seamlessly funnels them to a sales page where they can make a purchase. One of the best platforms that you can use for this is BigCommerce.
If you're not familiar with the BigCommerce platform, it provides solutions for:
- Enterprise Businesses
- Small Businesses
- Bigcommerce For WordPress
With this software, you can design your store, accept payments, ship and fulfill orders and convert visitors into paying customers. While this is extremely helpful, it still misses one crucial factor that you must consider for your business. How will you integrate this software into your bookkeeping so that you can ensure that your financials are tracked?
Not only that, how do you monitor your metrics so that you stay on track with your quarterly and yearly goals?
The answer is by using Big Commerce accountants who are familiar with the intricate details of what it takes to be a successful e-commerce, an online seller.
Big Commerce Accountants
It's highly beneficial to use an e-commerce accounting firm that has experience working with platforms like BigCommerce. As an e-commerce seller, you have many factors to consider. This makes this type of accounting very challenging. Here are just a few factors that you constantly need to follow to ensure that your books are kept in order:
- Sales tax liability: Keeping up-to-date with areas where your business owes sales tax can be time-consuming.
- Inventory management: This area can be quite complex. You must make sure that you follow the principles laid out by GAAP so that the numbers on your tax returns are the appropriate ones.
- Handling returns: E-commerce accounting can also be complicated when you are dealing with returns. Making decisions regarding when to actually write off inventory must be done correctly.
Fortunately, our Atlanta CPAs have knowledge and expertise with these types of situations can assist your e-commerce business to ensure that you are on track to fulfilling your financial goals.
Benefits Of E-commerce Accounting
Making sure that your online e-commerce store is successful takes a great amount of work. You've got to sell products that people desire, source those products, determine how they are going to be shipped and advertise your e-commerce site as well.
When you add your accounting tasks to the mix, it can become quite overwhelming. Fusion CPA’s professional accountants have the ability to alleviate this burden. By using an experienced professional rather than attempting to do-it-yourself, you can:
- Reduce spending: An accountant can identify ways for you to reduce your tax obligations by taking advantage of deductions and credits that you may not be aware you qualify for. You will also reduce the chance of getting fined for new legislation that you missed or accidentally filling out a tax form incorrectly.
- Re-direct your time: Your precious time is best spent marketing your products. By using a seasoned accountant, you can focus on this aspect as well as your operations.
- Advance your company: The experience and knowledge of a professional can provide insight into ways that you may be able to grow your business.
- Reduce your fear: Accounting deadlines can often cause extra worry for you as an e-commerce business owner. You can eliminate this type of worry and actually receive the reassurance that you need by hiring an expert.
If you require help with your e-commerce financials, be sure to contact us. We'd be happy to answer any questions.
This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided in this website is not all inclusive and such information should not be relied upon as being all inclusive.