Ecommerce Accounting Agency – Get Ready To Grow Your Business

1
Ecommerce Accounting Agency
Get Ready To Grow Your Ecommerce Business
2

• Bookkeeping Vs eCommerce accounting

Bookkeeping is the starting point for the
accounting practice in which a neat record of
financial transactions and documents will be
maintained. The purpose of this bookkeeping is to
describe and organize the current state of
finance. Key tasks in the bookkeeping
include Categorizing the transactions
Invoicing Account payable and receivables
management Preparing balance sheet Account
reconciliation Payroll management
3

• An accountant will carefully analyze the
  companys finances and find the best way to cut
  down the costs, prepare the tax reports and help
  in business growth. It is essential to understand
  that you will not be able to do good accounting
  unless you know accurate bookkeeping and its
  harder to do proper bookkeeping if you do not
  have an efficient accounting process.

On the other hand, accounting is the practice of
analyzing all the financial records which are
produced by the bookkeeper and creating a
financial report to understand the current
finance and future financial plan. The purpose of
accounting is to get complete financial knowledge
to make smarter decisions. Key tasks in
accounting include Financial information
audits Preparation of the entries Tax planning
Financial forecasting Risk analysis
Preparation of the financial statements and
reports
4
Bookkeeping for eCommerce companies
Recording transactions The important aspect of
bookkeeping is recording all the transactions
that the business makes. This includes the
transactions where the money enters or leaves the
company. In the eCommerce business, the customer
may buy the product at any time hence, the
transactions must be recorded at any time.

• Expense  Money that is paid by the company to
  keep the business running smoothly
• Revenue  Money that is collected by the company
  from the sales
• Assets  Anything that the company owns such as
  vehicles, properties, cash, equipment and a few
  more

5

• Every single transaction is recorded to
  accurately file the tax. Every business is
  expected to pay proper tax to the authorities and
  that is why you should keep in track of all the
  transactions. Another main reason why you should
  record the transactions is to determine the
  profit of the company. Also, you will be able to
  find the financial health of the business when
  you do it properly.

When you run eCommerce businesses you have to
deal with the returns and charge backs. A return
is when the customer wishes to return the product
and get a complete or partial refund. Every
eCommerce company has a different refund policy,
hence its based on your company to decide the
refund policy.
6

• All the bookkeeping and accounting tasks look
  like a lot of work, doesnt it? Yes, its a lot
  of work. But you can easily handle it by hiring
  the services offered by the eCommerce accounting
  agency. In this digital age, it is easier for
  businesses to handle finance easily. The agency
  will offer the best software that is built for
  comprehensive bookkeeping for the eCommerce
  business.
• Since the tools are digital-based, it is easy to
  integrate with the eCommerce site and get the
  reports to look at the performance of the
  company. Hence it is cheaper to hire the services
  of the agency and efficiently handle the finance
  of the company.

7
(No Transcript)
8
Final words

• Dont hesitate to use the best bookkeeping for
  eCommerce companies to stay organized. You can
  get the report to analyze the finance and develop
  the business strategies that will help in running
  the business smoothly. You can also stay on top
  of others making the regular tax payments and
  ensure that all the business transactions are
  recorded accurately.

9
Contact US

• Free Cash Flow

• We are based in Los Angeles, California and our
  call will happen on ZOOM.

• Address - 227 S. RAMONA AVE. APT. A MONTEREY
  PARK, CA 91754

• Phone - 1 626-869-8627

• www.freecashflow.io

• Thank you