eCommerce companies operate in an agile digital environment. While there are many advantages to operating an online business compared to traditional brick-and-mortar stores, it doesn’t come without its own challenges.
These brands must maintain accurate and up-to-date records of all transactions, inventory levels, tax obligations, and cash flow to ensure financial stability and compliance with relevant regulations.
As eCommerce brands venture into new markets, explore new channels, and expand their product lines, they need to ensure that their accounting and bookkeeping records remain solid to support informed decision-making, drive financial analysis, and avoid headaches come tax season.
The Bob’s Bookkeepers team is well-versed in leading accounting and financial software solutions, plus many of the business support software solutions that eCommerce companies rely on
Hiring an outsourced bookkeeper or accountant for your eCommerce business ensures you have access to expert guidance and support for your financial operations. Rather than spending your days wrestling spreadsheets, buried in financial data, and unsure about your compliance requirements, we’ll handle the number-crunching for you.
A dedicated eCommerce bookkeeper will help you navigate through the complexities of digital transactions, giving you confidence that all revenue is accurately tracked across sales channels and that expenses are properly categorized.
The team at Bob’s Bookkeepers has years of experience helping eCommerce businesses make sense of their finances and ensure compliant accounting records and reporting. While some firms have a basic knowledge of the eCommerce space, our team has a deep understanding of the space, which allows us to deliver top-tier service and actionable guidance that prepares your business for sustainable growth.
We’re well-versed in the main challenges eCommerce businesses face with accounting and bookkeeping, including inventory management, handling refunds, and tracking sales tax across different jurisdictions.
Speak with our experts about your current challenges and high-level financial goals, and we’ll create a bespoke accounting solution tailored exactly to your needs
We provide accounting and financial solutions focused on inventory management, revenue tracking, and profitability analysis tailored to the fast-paced eCommerce sector
We offer financial planning and cash flow management services to ensure your business maintains healthy cash reserves, even during peak seasons and promotions
Yes, we integrate with major eCommerce platforms, providing seamless financial reporting and transaction tracking to simplify your bookkeeping process
Bookkeeping for eCommerce businesses is not the same as bookkeeping for companies in any other sector. While the main principles and guidelines still apply to all industries, eCommerce businesses require specific support due to their handling of digital transactions across multiple platforms and their complex inventory management needs.
Plus, compared to a brick-and-mortar store that operates in just one city, online sellers must adhere to varying sales tax laws across jurisdictions. This requires specialized support from experienced teams and the proper systems to ensure accurate records and tax tracking
At Bob’s Bookkeepers, we’re committed to data security and keeping your sensitive financial information private and secure. We adhere to industry best practices for data protection and maintain compliance with regulations like GDPR and PCI DSS.
Throughout the organization, we’ve implemented multiple layers of security and protection to keep your data safe online, safeguarding it as we would our own business information. This includes using secure cloud storage platforms for digital documents and strict access controls that limit data visibility to only relevant team members working on your account
The cost to outsource accounting and bookkeeping for eCommerce companies depends on the chosen partner and the level of engagement needed. At Bob’s Bookkeepers, we offer three different service tiers to choose from, with prices varying accordingly.
Our plans start at $750 per month for small businesses with cash accounting needs. For eCommerce businesses with more complex accrual accounting needs, we offer the Scaling plan, which is $2,250 per month. Finally, eCommerce businesses with unique accounting and financial needs can choose the Custom plan, with personalized pricing available upon request
Bookkeeping services for eCommerce businesses can improve margins by ensuring records are correctly detailed and regularly reconciling accounts. This helps businesses uncover potential errors, fraud, or oversights that weigh on profitability. Plus, they can monitor cash flows and expenses to uncover regular spending patterns and identify opportunities for savings
Bob’s Bookkeepers offers a few tiers of eCommerce accounting services. The Starter plan includes comprehensive cash-based accounting, monthly account reconciliation, expense tracking, and email support. The Scaling plan includes full accrual-based accounting, custom-built financial models, basic AP/AR management, inventory accounting, and premium support
