Ecommerce Bookkeeping Performed by Accountants
Our ecommerce bookkeeping services do more than get transactions into QuickBooks Online. We want your books to tell you what actually happened in your business.
At Schultz & Associates, our ecommerce bookkeeping fees are competitive, and accountants in our Canton, Michigan office perform the work. We don’t outsource our bookkeeping overseas. The people working on your books sit alongside the accountants and tax professionals who work with our ecommerce clients every day.
Good ecommerce bookkeeping requires accountants who understand the information they are entering.
Recording a $20,000 expense is easy. An accountant asks whether that expense belongs entirely in one month or should be spread over the periods it benefits.
Recording an Amazon deposit is also easy. An accountant knows the deposit isn’t necessarily sales. They know how to account for gross sales, refunds, marketplace fees and other deductions.
The goal isn’t simply clean books. It’s monthly financial information you can actually use.
Ecommerce Bookkeeping Should Produce Comparable Monthly Financial Statements
We make sure your monthly financial statements are useful when compared from one period to another. You should be able to compare January to February or this quarter to last quarter and understand what actually changed in the business.
That means looking for accounting issues that can distort those comparisons. Prepaid expenses, accruals, inventory, cost of goods sold and other significant items may need adjustments to keep one month from looking artificially better or worse than another.
When appropriate, we use accrual accounting and monthly adjusting entries so the financial statements reflect when income and expenses belong, not simply when cash moves.
Consistent monthly reporting makes it easier to identify changes in gross margin, operating expenses and profitability. When something actually changes in the business, we want you to see it. We don’t want accounting timing to make it look like something changed when it didn’t.
Monthly Ecommerce Bookkeeping Services
Not every ecommerce business needs the same level of monthly accounting support. We establish a monthly fee based on the services you need now, and we can add services as your business grows.
Our ecommerce bookkeeping services are available à la carte and can include:
- Bank and credit card reconciliations
- Amazon, Shopify, Walmart, TikTok Shop, Etsy, eBay and other marketplace reconciliations
- Recording gross sales, refunds, marketplace fees and other platform activity
- Accounts payable and bill payment
- Customer invoicing and accounts receivable
- Payroll processing and payroll accounting
- Inventory and cost of goods sold adjustments
- Prepaid expenses and accruals
- Review and reconciliation of clearing accounts
- Monthly adjusting entries
- Monthly balance sheet and profit and loss statements
- Gross margin review
- Comparison of current results to prior months and periods
We determine which services make sense based on how your business operates today. You don’t need to pay for accounting services you don’t need simply because they’re included in a package.
As your business changes, the monthly services can change with it.
QuickBooks Cleanup Is Included
We don’t expect your QuickBooks file to be perfect when you come to us. If you’re looking for a new accountant, there’s probably a reason.
We don’t charge a separate QuickBooks cleanup fee. We simply clean up the accounting as part of taking over the monthly bookkeeping, and that work is included in your monthly fee.
That may mean reconciling old accounts, correcting balances, fixing improperly recorded marketplace activity, cleaning up the chart of accounts or addressing other issues we find along the way.
It’s the nature of the job. Businesses with perfectly clean books usually aren’t looking for a new accountant.
Once we’ve corrected the issues, our job is to keep the books clean and produce useful monthly financial statements going forward.
A2X and QuickBooks Online Setup
For ecommerce businesses using A2X, we can set up the connection to QuickBooks Online and make sure the accounts are mapped correctly. If you already use A2X, we can take over the existing setup as part of the monthly bookkeeping process.
A2X helps bring sales, refunds, fees and marketplace payouts into QuickBooks Online in a manageable format. We still review the information to make sure it reconciles and makes sense on the financial statements.
You can learn more about our A2X accounting services on our dedicated A2X page.
Talk to Our Ecommerce Accounting Team
If you’re looking for ecommerce bookkeeping that goes beyond entering transactions, we’d like to learn more about your business and the accounting services you need.
Email Matt Wilkin, CPA to start a conversation, or visit our Meet the Ecommerce Accounting Team page to learn more about the accountants who will be working with you.