Upcloud Accounting’s Post

You're not alone in feeling overwhelmed by e-commerce accounting—90% of online business owners struggle with it too. Here's the solution. If you're selling products online, you might be thinking bookkeeping is just tracking sales and expenses. But there's a digital twist that catches many off guard. E-commerce accounting involves juggling data from multiple channels, marketplaces, and payment gateways. It's a constant flow of information that needs real-time tracking and analysis. The key takeaway? Automation is your best friend in e-commerce accounting. By automating your accounting processes, you can: → Track transactions daily across all platforms → Reconcile books monthly without headaches → Generate accurate financial statements effortlessly → Handle taxes from various marketplaces with ease Remember, one small accounting error can snowball into major issues. But with the right automated systems in place, you'll streamline your finances, reduce errors, and set your e-commerce business up for sustainable growth. #EcommerceAccounting #FinancialAutomation #OnlineBusinessTips #JamieBykovBrett #BykovBrettEnterprises

As you scale your Shopify store, your #accounting becomes more and more complex. On top of that, not many accounting firms specialize in Shopify or ecommerce accounting. As the #cfo or #accountingteam, it's your job to ensure your books are kept clean and closed accurately and efficiently. That's where technology like Bookkeep - Smarter Ecommerce Accounting Automation can really help. Here are just some examples of how your #shopify accounting can become challenging as you grow. 1. You start selling internationally and need to understand how to remit tax to local authorities, accept local methods of payment, and manage duties and import tax. 2. You're a multi-location business utilizing Shopify POS and need to have each store’s net revenue payout allocated to its own separate bank account. 3. You require revenue recognition upon fulfillment and need to be able to capture fulfilled returns within Shopify's fulfillment revenue recognition journal entry. This is just the tip of the iceberg really. Since there's so much complexity built-in along with a lack of Shopify accounting experts, customers trust Bookkeep to help automate the tough, manual work. We also constantly keep up to date when Shopify changes something in their platform, which they do often. Taking the example challenges above, Bookkeep helps: 1. Bookkeep supports Shopify Managed Markets, capturing all of your international sales in real-time and posting them into your accounting system. 2. Bookkeep’s secure software accesses each day’s payouts and allocates all the details to the appropriate locations in a neat and detailed GL entry. 3. Bookkeep automates the capture of fulfilled refunds within Shopify's fulfillment revenue recognition journal entry, simplifying the process of recognizing both revenue and returns once fulfillment is complete, eliminating the need for manual entries for those returns. Above all, we're here to help our customers focus on growing their business by enabling their accounting teams with smarter automation. #CFOTech #ecommerceaccounting #accountingautomation

Big Bookkeep update for Shopify merchants! Bookkeep now automates the capture of fulfilled refunds within Shopify's fulfillment revenue recognition journal entry. This enhancement simplifies the process of recognizing both revenue and returns once fulfillment is complete, eliminating the need for manual entries for those returns. This feature is particularly beneficial for enterprise customers that require revenue recognition upon fulfillment. Bookkeep customers can learn more below. https://bit.ly/4h8fkpZ If you're using Shopify, Bookkeep is your #1 resource for best-in-class #accounting with seamless integrations across Intuit QuickBooks, Xero, Zoho Books, Sage Intacct, Inc.and NetSuite https://bit.ly/4f6ryxN #CFOTech #shopify #ecommerceaccounting #accountingautomation #quickbooks #xero #sageintacct #netsuite

Key Financial Metrics for E-commerce Accounting. 👉 https://rb.gy/1bzig 👉 https://rb.gy/8g73px 👉 rb.gy/qghyh1 To make smart decisions for your e-commerce business, it’s crucial to track certain financial metrics that help you understand your performance. 1️⃣ Cost of Goods Sold (COGS) COGS refers to the direct costs of producing the goods you sell, such as materials and labor. It doesn’t include indirect expenses like marketing or distribution. Knowing your COGS is key to understanding the profitability of your products. ✨ Formula: COGS = Beginning Inventory + Purchases - Ending Inventory 2️⃣ Gross Profit Gross profit is the amount left after subtracting your COGS from your total revenue. This is your initial profit, which doesn’t yet account for other expenses like marketing, rent, or taxes. ✨ Formula: Gross Profit = Revenue - COGS 3️⃣ Gross Margin The gross margin shows the percentage of total revenue you keep after covering the cost of goods sold. A higher gross margin means your business is retaining more of its earnings for other expenses or debt repayments. ✨ Formula: Gross Margin = (Revenue - COGS) / Revenue × 100% In conclusion, it's essential to track your gross margins, develop strategies to improve them, and minimize expenses to maximize your profits! 📈 👉 I’d love to work with you again! 😊 Here are a few questions to help me better understand your needs: 1️⃣ What tools are you currently using to track your business as  QuickBooks, Xero, or Wave software? 2️⃣ Do you have specific gross margin targets for your business? 3️⃣ Are there any areas in your business where you'd like help reducing costs or optimizing margins? #amazon #xero #acccounting #bookkeepingservices #cashflow #wave #ecommerceservices #ecommercebusiness #BusinessOwnerInsights #FinancialTransparency #StrategicReconciliation #Amazon #Shopify #Bookkeeping #Bookkeeper #Marketing #Wave #Xeroaccounting #Freshbook #Cloudaccounting #Ecommerce #Ecommercebusiness #smallbusiness #mediumbusiness #restaurantbusiness #construction #fiverrseller #fiverr #fiverrfreelancer #upworkfreelancer #upwork #inventory #marketing #businessowner #cashfolw

Very interesting solutions delivered (and problem statement) amidst major capital raise for e-commerce #accounting platform Finaloop. Via SiliconANGLE & theCUBE and Mike Wheatley in the comments: ▶ CEO Lioran Pinchevski: "But selling online is a complex business, and though there’s a glut of platforms such as Shopify that enable anyone to create an online store with ease, other aspects have been left behind. Notably, the accounting process for online retailers has been neglected, with most smaller businesses and individual sellers using tools such as Quickbooks, Xero and NetSuite. The problem is that these accounting tools are old, having been launched more than two decades ago, said Finaloop founder and Chief Executive Lioran Pinchevski. “The entire e-commerce industry is built on an advanced technological stack with players like Shopify, Amazon, Gusto, Stripe and others, but the accounting and bookkeeping solutions used by these companies were light-years behind every other tool in their arsenal,” he explained." This makes complete sense to me and the number of competitors coming after QBO and Xero is off the charts right now. What do you think? Do your clients work with lots of e-commerce platforms?

Effortless Accounting for International E-Commerce Businesses In the fast-paced world of e-commerce, accurate financial management is essential for success. Managing multiple sales platforms like Amazon, Shopify, eBay, Etsy, and Walmart can become overwhelming without the right tools and expertise. That’s where my tailored bookkeeping and accounting services come in. With over a decade of experience, I specialize in setting up and managing accounting software like QuickBooks Online and Xero, ensuring seamless integration with leading e-commerce platforms for efficient financial tracking. Boost Your E-Commerce Efficiency: My services are designed to streamline your operations by extracting sales information directly from Seller Central and settlement reports. This process eliminates manual errors and ensures that every transaction is recorded accurately. By categorizing expenses such as Amazon FBA fees, shipping costs, refunds, and transaction charges, I provide you with clear insights into your business’s profitability. My expertise in integrating tools like A2X guarantees precise tax mapping and inventory tracking, enabling you to focus on growing your business while I handle the complexities. Why Accurate Reconciliation Matters? Reconciliation is the backbone of robust financial management. I offer reconciliation services for bank transactions, credit cards, PayPal, and Stripe to ensure that your financial records align with your bank statements. This meticulous approach not only keeps your accounts balanced but also prevents potential errors that could lead to costly audits. My solutions are tailored to meet the unique needs of e-commerce businesses, providing you with confidence in your financial data. Partner with a Global Expert: Having worked with clients across the globe, I understand the challenges international e-commerce businesses face. My services cater to small and medium-sized enterprises looking to optimize their bookkeeping and accounting processes. I deliver comprehensive solutions to simplify financial management from company setup to VAT compliance and payroll management. I'd like to help you easily navigate the complexities of e-commerce accounting. 🌟 📩 Email: sharmadigandra@gmail.com 📞 Call: +8801711504824 #ECommerceAccounting #QuickBooksOnline #XeroIntegration #AmazonAccounting #ShopifyBookkeeping #FinancialReporting

Do you need accounting software for your e-commerce business? 👉 https://rb.gy/1bzig 👉 https://rb.gy/8g73px 👉 rb.gy/qghyh1 If you're running a small business with a lower transaction volume, it’s possible to manage your bookkeeping using a spreadsheet. However, manual updates can be time-consuming and prone to human error. 📊 To make things easier, we highly recommend using accounting software for your Amazon store, Shopify, or eBay. It automates your accounting tasks, allowing you to generate key reports like Profit and Loss statements, balance sheets, and cash flow reports with just a few clicks. 📈💼 Which accounting software is best for your e-commerce business? The right choice depends on your unique needs. Many small business owners prefer using platforms like QuickBooks Online, Xero, Sage, or Wave. Your decision should take into account your business size, location, and the specific features you're looking for. ⚙️ Experience peace of mind with our Comprehensive bookkeeping service. Our expert team provides end-to-end financial solutions tailored to your business needs. We are looking forward to working with you! 😊 To better understand your needs, could you let me know: What’s the volume of transactions for your Amazon or Shopify store? Do you currently use any accounting software or tools? Are you looking for any specific features, like inventory tracking or multi-channel sales reporting? #amazon #xero #acccounting #bookkeepingservices #cashflow #wave #ecommerceservices #ecommercebusiness #BusinessOwnerInsights #FinancialTransparency #StrategicReconciliation #Amazon #Shopify #Bookkeeping #Bookkeeper #Marketing #Wave #Xeroaccounting #Freshbook #Cloudaccounting #Ecommerce #Ecommercebusiness #smallbusiness #mediumbusiness #restaurantbusiness #construction #fiverrseller #fiverr #fiverrfreelancer #upworkfreelancer #upwork #inventory #marketing #businessowner #cashfolw

I've added media to my service page. Check out my service page to see examples of my work and to learn more about my services. Running an e-commerce business can be overwhelming, especially when it comes to managing your finances. That's where I come in! I'm MD Hasan Suvo, a professional accountant and certified QuickBooks ProAdvisor, as well as a Xero Certified Advisor, with over five years of experience in accounting. I specialize in e-commerce bookkeeping for platforms like Amazon, Shopify, eBay, and more, using QuickBooks and Xero to keep your finances on track. What I Offer: E-commerce Bookkeeping Expertise: I'll handle all aspects of your bookkeeping for platforms like Amazon, Shopify, and eBay, ensuring every transaction is accurately recorded. Invoice Input & Synchronization: I'll input your invoices and synchronize your e-commerce platforms with QuickBooks or Xero for seamless management. Comprehensive Reconciliation: I'll reconcile your e-commerce transactions and bank statements to ensure accuracy and catch any discrepancies. Bank Transaction Management: From categorizing to reconciling bank transactions, I've got you covered, etc. Let's streamline your e-commerce bookkeeping and take the stress out of managing your finances. Order now. #Quickbooks #xero #Bank_Reconcilliation #E_Commerce_Bookkeeping #OpenForBusiness #Financial_Reports #Cloud_Accounting

Chartered Accountant (Partly Qualified) | Expert Ecommerce Bookkeeper | Certified QuickBooks Online ProAdvisor Do you have an E-commerce store on Amazon, Shopify, Etsy? I specialize in E-Commerce Accounting and Bookkeeping as a certified QuickBooks Online ProAdvisor and Xero Advisor with over 8 years of experience. I offer streamlined Bookkeeping solutions for Amazon, Shopify, Square, eBay, Etsy, and Walmart in QuickBooks, XERO, and Wave. Ecommerce bookkeeping is distinct from traditional bookkeeping due to several key factors: Volume of Transactions: eCommerce businesses typically deal with a higher volume of transactions compared to brick-and-mortar stores, necessitating more sophisticated bookkeeping solutions. Payment Processing:  eCommerce involves multiple payment methods (credit cards, PayPal, etc.), requiring careful tracking of fees and reconciliations with payment processors. Sales Tax: eCommerce businesses must navigate complex sales tax regulations that vary by state or country, making diligent bookkeeping essential for compliance. Returns and Refunds: Managing returns and refunds is more common in eCommerce, and accurate bookkeeping helps track these transactions and their impact on profitability. Integration with Technology: eCommerce bookkeeping often integrates with various platforms (e.g., shopping carts, accounting software), requiring a tech-savvy approach to keep everything synchronized. Global Sales: Many eCommerce businesses sell internationally, which complicates bookkeeping with foreign currencies and international tax laws. In summary, eCommerce bookkeeping is vital for maintaining financial health and ensuring compliance, while its complexity often differs significantly from traditional retail bookkeeping. #Fiverr https://lnkd.in/grdg3QNW #Bookkeeping #Accounting #QBO #IntuitQuickBooks #BankReconciliation #QuickBooks #QuickBooksOnline #Xero #Etsy #ecommerce #Ecommercesales #AmazonBookkeeping #SalesTax #InventoryManagemant #SalesReport #AccountReconciliation #QuickBooksBookkeeping #XeroBookkeeping #ExpertEcommerceBookkeeper #A2xExpert #Payroll #EcommerceBookkeeping #BalanceSheet #BookkeepingAssistance #QuickBooksCleanup #Cleanup #Catchup #Amazon #eBay #Etsy #Shopify #AccountsPayable #AccountsReceivable #USABookkeeping #WaveAccounting #ZohoBooks #CashFlow