Finding the E-Commerce Accounting Partner for Your Business

Accounting for e-commerce business poses an increasing level of complexities, requiring the expertise in handling financial challenges of online entrepreneurs. Finding the right accountant is an investment you should take to ease your financial worries over time. 

As a business owner, you wear multiple hats to keep your operations running. Startup owners tend to be hands-on on all aspects of the business, but as it scales through the years, they find the best people to handle the tedious parts of the process, including the nitty-gritty back-office accounting. But how do you find the right accountant for your e-commerce business? What criteria defines the right accountant fit for your online endeavor?

• Offers Affordable Service

When you’re managing a startup, you can proudly roll up your sleeves and dive into the little details of the business. But once you hire an accountant to do your numbers, one important thing to consider is your budget.

Do you have enough working capital to employ a full-time, or even part-time accountant? Find a firm that offers quality accounting services without breaking the bank. Cost-effective bookkeeping solutions can save you both time and money for the long-haul.

• Mastery of Shopify and QuickBooks Online Integration

E-commerce is a widely increasing trend globally, and is continually expanding up-to-date. With that in mind, proficiency in the e-commerce platforms comes as a prerequisite for getting a bookkeeper. 

Accounting for online business requires a thorough understanding of platforms such as Amazon, Shopify, eBay and the likes. With its complexities, fluency in its functionalities make an easier update of your books,  tax filings and inventory management. That’s why a thorough understanding of these channels is considered highly important when hiring your accountants.

• Leverages Cloud Accounting Software 

Traditional accounting has long been replaced by cloud accounting. Nowadays, businesses and firms are maximizing the features of cloud services as it poses a great amount of flexibility and automation, thus eliminating all tedious tasks at the table.

Learn their integrations, and how you can make the most out of them. These add-ons are far helpful in streamlining the work of your accountants. 

Find someone who’s comfortable in working on an online space as you are. Make the most out of cloud accounting functionalities and use it as a tool to push your back-office accounting more manageable.

• Has a Working Experience of E-Commerce Accounting 

Having an experienced team of accountants in the e-commerce platform highly gives you an edge, as they are not only well-versed in number-crunching. They can also give advice on improving your books since they know the ins and outs of online business accounting. 

With such insights, you can make sound financial decisions and effectively manage your revenue and taxes without the troubles of error and inaccuracy.

Read Next: Best Practices in Managing Accounting for E-Commerce Business  

There are considerably numerous factors to consider when hiring an e-commerce accountant: whether it be your scaling business or entering new markets, it’s pivotal to learn when to let go of your financial duties to the reliable professionals.