Monthly eCommerce Accounting
Make confident decisions based on facts
Scaling your eCommerce business requires a perfect understanding of revenue and expenses.
Our eCommerce accountants know that your interest isn’t the profit and loss statement or the balance sheet in itself, rather the financial health of your eCommerce business and the story those numbers tell.
eCommerce Companies Need Specialists Not Generalists
It’s easy for eCommerce businesses to end up with financial statements that give an incomplete or inaccurate picture. There are a few reasons why this happens so often:
COGS and Inventory Process
Multi channel sales data, fluctuating supplier and shipping costs, inventory tracking across multiple platforms and warehouses, returns and discounts. Pulling that all together in a meaningful way is challenging. We can help you build new processes or improve your current ones.
Technology Gap
Connecting the right technology in the right way can provide a real-time pulse on your business, empowering proper cash flow management and more accurate forecasting. We’ll guide you in choosing or optimizing your current tech stack so that it’s tailored for your business needs.
Lack of Expertise
Standard accountants often lack the specialized knowledge required to make sense of eCommerce-specific data. From setting up a correct chart of accounts to tracking ad spend across multiple channels, you need a professional eCommerce accountant on your team.
Settling for Less
Most eCommerce businesses have never seen proper eCommerce accounting in action, and the bar is set pretty low. Wondering if your current accounting is being done correctly? We offer a no cost evaluation and will walk you through the results.
Our Process is Different
eCommerce business owners want a firm that gets up to speed fast and delivers financial reports consistently on time.
Onboarding
This is a critical phase that sets the tone for the ongoing relationship. We will get you setup in Karbon, our project management tool, and set up a kickoff call with your new client manager within the first week.
The First 3 Months
To lay a foundation that supports scalable growth, we spend the first quarter understanding your payment processors, banking, debt, supply chain, technology, vendors, and manufacturing processes (if applicable), with a particular focus on nailing down inventory and COGS.
Flexibility
Need us in the books more frequently during peak season…a weekly cash flow statement? Want more meetings initially or when launching new products/sales channels? We offer a tailored approach to meet your specific needs.
Dependencies
Did you know that all of these items are dependent on having a proper eCommerce accounting solution in place?
Lending
If you need additional cash for a new product launch or to accelerate growth, lenders will want a minimum of 12 month trailing financial statements, utilizing the accruals method of accounting.
Inventory Management and Demand Planning
If your accounting is wrong you won’t know if you have the cash flow to purchase more product or when you need to adjust pricing
Tax Planning
Effective planning requires an understanding of a company’s cash flow. Knowing when significant expenses or income will occur can help in strategizing for tax liabilities.
Tax Management and Compliance
Without accurate accounting, it becomes nearly impossible to correctly assess how much you owe in taxes or claim in deductions, leading to potential legal consequences and financial losses.
Sales Tax Compliance
Proper accounting allows for regular reconciliation of the sales tax collected versus what is owed, identifying discrepancies and allowing for timely corrections, and is your core support in the case of an audit.
Pricing
We offer accounting plans built for the stage of growth you are in, starting at $1.247/month. Our standard Accounting and Bookkeeping plan is far more advanced than some firms’ Premium Offering and includes:
Inventory/COGs Reconciliation
Monthly Accounting Review
Sales Channel Profitability
KPI Target monitoring
All the accounting tasks you don’t want to do
We’re Not a Perfect Fit For Everyone
Here are a few reason why ECOM CPA may not be the right firm for you:
You’re not a private label brand. Arbitrage and wholesale don’t typically require specialists
No SINGLE internal point person or sense of urgency. We don’t want to interrupt you while you are doing your most meaningful work, but there will be things someone needs to clarify. Is there a qualified individual that can provide us what we need in a timely manner? If not…we aren’t a match.
Early stage - almost all our clients are 7-9 figure brands that are growing intentionally.
Download our free eCommerce Accounting Comparison Guide
When looking for the right accounting partner, it’s critical to compare potential solutions side by side. We’ve identified the most important factors to consider before choosing an accounting firm, based on asking every interested party we meet with “how are you going to grade us when it comes to your expectations,” and then layering in all we’ve learned about eCommerce from the beginning of ECOM CPA till now.
eCommerce Accounting Varies Based on the Platform you Sell on
Ready To Chat?
Get in touch and learn exactly how we can help simplify your finances.
Ready To Chat?
Get in touch and learn exactly how we can help simplify your finances.