Preview_Beginner's Guide to Ecommerce Accounting
All about ecommerce accounting
Published on: Mar 4, 2016
Transcripts - Preview_Beginner's Guide to Ecommerce Accounting
Record your invoices
i) Record every transaction:
This is one of the most recommended practices if
you have 1-2 channels on which you sell (eg.
Shopify and Amazon).
When you have 100-1000 orders a month,
recording every invoice with the customer data
makes a lot of sense. It lets you see the sales by
customer and gives you greater control on the
numbers. No information is missed out.
Keep a handle on Sales Tax
Now you can always manually manage your
accounting. But the key question to ask is - Why?
You will be spending at-least 100 hours each month
on just entering invoices, tracking the right inventory
count, and entering payments and refunds.
Inefficiency leads to frustration and then the scary
backlog of transactions!
Worry not! Let’s see how successful online stores
manage accounting in the next slide.