eCommerce accounting is so important if you sell online. At Maynard Johns, we successfully look after many eCommerce clients who sell on platforms such as Amazon, Shopify, eBay, Etsy and more.
Many businesses have had to diversify over the past couple of years and many have turned to online stores. This presents huge opportunities for businesses to grow their client base both nationally and internationally.
But trading online brings its own challenges. Digital sales need to be tracked in each country and the correct reports to be kept track of to be legally compliant.
Ecommerce accounting software
Ecommerce accounting differs from traditional accounting in many ways and it’s important to find an eCommerce accountant who fully understands these. There are so many online marketplaces with their own payment facilities and integrations.
If you are using more than one online selling platform, you will find they all use different reporting methods which can become confusing. One thing our eCommerce clients love is the facility to be able to link their eCommerce accounts such as Shopify, Etsy, eBay and Amazon directly to their cloud accounting software.
By connecting online selling platforms with accountancy software, clients are able to directly pull down all relevant data into their software such as Xero and access reports in a standard format to help them assess their business. The data can be set to automatically sync with the accounting software, so the client doesn’t have to do anything. They can access these reports 24/7 to help them make business decisions instantly as and when they need.
With the use of encrypted software, data can be sent between the client and Maynard Johns in a safe and secure manner.
Many of our eCommerce clients sell in multiple countries. By using dedicated accountancy software sales can be tracked as to where they are coming from and going, saving considerable manual bookkeeping hours and the avoidance of human error.
Everything can be mapped to the client’s cloud accountancy software such as Xero keeping everything streamlined and simple. This can make significant financial savings for a business trading at high levels of sales as manual accountancy costs are minimised.
Maynard Johns has eCommerce clients of every type ranging from clothing retailers, craft sellers and motor parts. Whatever your business, we have the skills, experience and resources to take care of your eCommerce business finances.
Managing future business decisions
We can help our clients assess their sales and stock in order to make an informed business decision on how to progress in the future to grow their business. We have a hands-on relationship with our eCommerce clients to ensure they have the right information at the right time to make the most of their business.
By using our cloud accountancy software which is Making Tax Digital compliant, time and stress are kept to a minimum. All financials can be viewed from anywhere with an internet connection at any time.
With a streamlined system that carries the load and takes the hassle out of your bookkeeping in conjunction with having an experienced, hands-on accountant, you as a business owner can focus on what you do best.
To find out more about the service we offer to our eCommerce clients, including a free initial consultation, get in touch with us now on 01237 472071.