E-Commerce

E-Commerce Services

Recording Revenue & Payouts - Recording sales from all channels (Shopify, Amazon, Etsy) and accurately matching the lump-sum payouts from payment gateways (Stripe, PayPal) to the bank account, including transaction fees.
Tracking Expenses - Monitoring and classifying expenses like inventory purchases, shipping fees, advertising costs (Google/Meta ads), platform fees, and software subscriptions.
Inventory Management - Tracking Cost of Goods Sold (COGS), managing stock levels, and performing periodic physical inventory counts to ensure accurate valuation.
Reconciling Accounts - Monthly reconciliation of bank accounts, credit cards, and payment processors to ensure books match reality.
Sales Tax Compliance - Calculating, reporting, and remitting sales tax for all required jurisdictions, particularly with nexus in multiple states.
Financial Reporting - Generating monthly income statements, balance sheets, and cash flow statements to analyze business performance and profitability

Daily - Record sales, refunds, and charges.
Weekly - Review cash flow, verify payments from processors, and manage vendor payments.
Monthly - Reconcile all bank/processor accounts, check inventory levels, and finalize profit and loss statements.

Integration - Connect sales channels to accounting software like QuickBooks Online or Xero to automate data entry.
Inventory Tools - Apps like Inventory Lab, Sellerboard, SoStocked, etc. We also use apps like A2X for accurate revenue matching.
Expense Handling - Use tools for scanning receipts and tracking cost per unit to protect profit margins.
Interfaces - Amazon Seller Central, Walmart Seller Central, Target, SPS Commerce, Shopify through our Partner account, Etsy and eBay.