eCommerce Bookkeeping Services

eCommerce brands encounter challenges such as customer retention, cart abandonment, logistics, and sales tax compliance. Our team helps digital businesses streamline financial operations, optimize cash flow, and ensure compliance. We also assist with inventory management and competitive pricing, allowing eCommerce brands to scale sustainably while meeting customer expectations and enhancing profitability
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Ecommerce bookkeeping

Key Services

Inventory Management

Manage stock to prevent overstock and stockouts and inform merchandising and promotional activities

Cost Analysis

Analyze operational expenses to enhance margins and reduce unnecessary spending

Sales Forecasting

Predict demand trends for better planning, helping to navigate seasonal swings and make informed merchandising decisions

Cash Flow Management

Maintain liquidity for growth and sustainability, ensuring brands have enough runway to cover near-term obligations without limiting expansion

Financial Reporting

Deliver clear financial insights and accurate financial reports for compliance purposes and transparency with stakeholders

Why Accounting for eCommerce Companies Matters

Accounting for ecommerce companies

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.

Platforms We Work With

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

Our Process

Hiring Bob’s Bookkeepers for eCommerce accounting services ensures you have complete and up-to-date financial records to power your most important business decisions. We’re proud to offer custom bookkeeping and accounting services tailored to your unique needs. Here’s what you can expect:
1

Initial consultation to understand your needs

Meet with our team to go over your main financial and accounting hurdles. We’ll get to know the nature of your business and determine how we can best accommodate your needs and goals
2

Setup and integration with your ecommerce platform`

We’ll gain access to your accounting software, eCommerce platform, and any additional solutions necessary to deliver our services
3

Ongoing bookkeeping and accounting

Our team will deliver day-to-day support by recording transactions, tracking expenses, and handling general bookkeeping operations
4

Monthly reporting and analysis

Each month, we’ll reconcile your accounts to verify balances and deliver helpful reporting to support your internal decision-making

Benefits of eCommerce Bookkeeping Services

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.

Professional eCommerce Bookkeeping and Accounting Services to Drive Business Growth

Hiring a pro bookkeeper or accountant for your eCommerce business doesn’t just ensure compliance and help you keep day-to-day operations running smoothly. They can also be strategic hires that help you improve the efficiency of financial operations and drive business growth.

Accurate financial records for better decision-making. At a basic level, eCommerce bookkeepers deliver accurate and complete financial records, giving business leaders visibility into their general positioning. This helps them make more informed decisions based on real-time data that supports the business’s long-term financial goals.

Cash flow optimization for long-term stability. Bookkeepers can help eCommerce businesses understand their cash flow health, ensuring that major activities, such as purchasing more inventory, hiring employees, or expanding into new markets, won’t create liquidity issues that jeopardize ongoing operations. 

Strategic cost analysis to drive profitability. An important role of accounting for eCommerce businesses is to help teams track inventory costs and the cost of goods sold to understand profitability and uncover opportunities to streamline costs and boost margins. 

Support at scale. Experienced bookkeepers and accountants can help eCommerce teams set up financial systems that can handle increased transaction volumes as they grow. This may include defining and monitoring key performance indicators (KPIs) to track business performance over time

Solving Common eCommerce Bookkeeping Challenges for eCommerce Businesses

With the right team of knowledgeable professionals on your side, you can overcome common bookkeeping challenges that weigh on your financial operations.

High transaction volumes. eCommerce brands typically see high volumes of transactions each day, which only increases as the business grows. Bookkeepers help to process and record hundreds (or thousands) of small transactions daily, including potential chargebacks, returns, and refunds as needed.

Reconciling multiple sales channels.
No matter how you sell products to customers online, whether through your own storefront or as a third-party seller on major platforms, skilled bookkeepers can help consolidate sales data to ensure accurate revenue reporting. 

Inventory management. Whether you carry a handful of curated products or hundreds of SKUs, maintaining accurate inventory records is a challenge for many new eCommerce brands. An expert bookkeeper or accountant can help you choose the inventory valuation method that makes the most sense for your business and deliver ongoing management to keep records up-to-date. 

Sales tax compliance. Collecting, reporting, and remitting sales taxes on thousands of transactions may seem daunting to eCommerce teams. A bookkeeper with hands-on industry experience can take this responsibility off your hands and ensure tax compliance with relevant agencies
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Why Choose Us for Your eCommerce Bookkeeping?

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

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Frequently asked questions

What services do you offer specifically for eCommerce businesses?

We provide accounting and financial solutions focused on inventory management, revenue tracking, and profitability analysis tailored to the fast-paced eCommerce sector

How can Bob’s Bookkeepers help optimize cash flow for my eCommerce business?

We offer financial planning and cash flow management services to ensure your business maintains healthy cash reserves, even during peak seasons and promotions

Do you support eCommerce platforms like Shopify and WooCommerce?

Yes, we integrate with major eCommerce platforms, providing seamless financial reporting and transaction tracking to simplify your bookkeeping process

Why is eCommerce bookkeeping different from traditional bookkeeping?

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

How do you ensure data security for my financial information?

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

What’s the cost of outsourcing eCommerce bookkeeping?

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

How can bookkeeping for eCommerce businesses improve profitability?

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

What’s included in your eCommerce accounting services?

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

What customers say about us

Daniel E. Quezada
CFO, 8base
I'm the CFO at 8base Inc, where I'm responsible for all finance, HR, and administrative functions. 8base develops AI-powered products that enable businesses to achieve drastic cost and quality improvement in their software development process. We've used Bob's for bookkeeping services since 4Q22. We're a Series A company with a lean internal finance team. We had worked with another bookkeeping service before Bob's and were disappointed with the value they provided. We've relied on Bob's to manage our billing and revenue accounting process, as well as special projects that have come up. This has enabled us to support the company far more efficiently and with higher quality than we experienced with our former offshore bookkeeping service. With Bob's we've been able to improve our service level to our internal business partners, customers, vendors, and investors while reducing internal headcount by 50%. In revenue accounting, for example, we've been able to increase the level of accounting detail we record vs. what was previously done - and with greater accuracy. As a result, our close and reporting cycles are faster and our business insight is far greater. I've found the entire Bob's team accessible, knowledgable, and easy to work with via modern communication channels such as Slack instead of email. With one training session, the Bob's staff - especially Nurper and Ramazan - took it from there. I was pleased with how they listened and put into practice what we agreed to so quickly. This was a refreshing and drastic improvement from our previous bookkeeping service, where the turnover and quality level were a constant problem. I was constantly having to train their people over and over on the same simple things - and deal with constant errors. With Bob's I've experienced none of that. Overall, I felt the team from Bob's displayed deep knowledge and professionalism from Day 1. Rob and Matt are experienced, skilled financial professionals. They understood what I needed and provided the infrastructure to support us as much, or as little, as we needed. While other services tried to sell me everything they could, Bob's listened,understood and focused on what I needed. I appreciated that and have found them to be a great sounding board throughout the process. And their team has consistently delivered as promised, on time, on budget, and with great professionalism. I would recommend Bob's without hesitation to any leader looking for financial support services that put the client first and deliver great results.