Ecommerce Accounting Services
Ecommerce Bookkeeping & Controller Services
Acuity offers Ecommerce bookkeeping & controller services to provide financial insight to Ecommerce business owners. Our services include unlimited phone and email consultations with a seasoned professional so you can get the answers you need without having to worry about a ticking time clock jacking up your bill. Ecommerce bookkeeping and controller services can be broad and encompass many different operational and consultative tasks. We customize a plan for you based on your unique business needs that include such services as:
- Unlimited phone and email consultations
- Oversight of Ecommerce accounting services
- Interpretation of financial results
- Cash flow projections
- Liaise with CPA in gathering information for tax return preparation, compilations, reviews, or audits
- Liaise with business advisors or virtual CFO to support your long term planning
Ecommerce Accounting Services
Acuity offers Ecommerce accounting services (full-charge bookkeeping) to maintain the day-to-day operations of your accounting systems and record keeping.The goal of the Ecommerce accountant is to properly record all income, expenses, assets, liabilities, and equity transactions for the customer’s business under the guidance of the Ecommerce controller. We create a bookkeeping schedule to meet your company’s needs — including daily, weekly, monthly, and annual tasks.The following are examples of the ongoing cloud accounting services our bookkeepers typically provide:
- Unlimited phone and email consultation
- Maintenance of day-to-day accounting systems and record keeping
- Processing of vendor bill payments
- Facilitation of time and expense reporting
- Processing and/or recording payroll transactions
- Maintenance of accounts receivable
- Recording of asset purchases and maintenance of fixed asset and book depreciation schedules
Ecommerce Business Process Optimization (EBPO) Services
Acuity provides the external guidance to successfully implement the technology and processes to manage and grow your Ecommerce business.
- Ecommerce site strategy and implementation oversight
- Multi-channel selection
- Ecommerce supporting tool selection & process improvements
- Credit card merchant selection
- Sales tax strategy and process implementation
Ecommerce Sales Tax Services & Compliance
For those new to sales tax, we know what you’re thinking. You think you don’t have to worry about sales tax when you sell online. You’ve bought products on eBay or Amazon, and the sellers didn’t charge you sales tax, so obviously sales tax must not apply.
Despite what some people believe, any business that sells taxable products needs to collect sales tax in the jurisdictions where they have nexus. What is nexus? It is where your business has a significant presence (offices, employees, sales reps, and property (including inventory)). It doesn’t matter whether the business is online or brick and mortar. And it doesn’t matter if other people are following the rules or not. You should be aware that this is a liability issue for your business now.
A big challenge for an Ecommerce business owner is managing sales tax compliance. Understanding collection requirements, configuring your shopping cart or marketplace, managing the sales tax collected, and filing the returns is a complex and time consuming process.
To make matters worse, for Amazon FBA (Fulfillment by Amazon) sellers, Amazon’s FBA service creates sales tax nexus for your business in the 22+ states where Amazon has warehouses. If you are an Amazon FBA seller and you’re making sales to customers in any of those locations, you should be registered, collecting, filing returns and remitting sales tax in each of those jurisdictions. That can be a pretty big compliance headache.
And what do you do if you haven’t been collecting properly? You know that you not only have to file but you might also have to pay back sales tax in multiple states and it’s too late to collect from your customers.
You worry that this money will be coming out of your cash flow. We can help you understand your liability and put together a process to get compliant while minimizing penalties and interest.
Acuity provides a complete sales tax management service for our ongoing monthly customers. We understand the complexities of sales tax compliance for online sellers as well as how to implement a manageable sales tax compliance process. Our cloud accounting service for Ecommerce business includes sales tax compliance across the United States.
We leverage cloud technology to connect to your marketplace, shopping cart, and inventory/order management systems to pull together all the information necessary to manage sales tax effectively. We also help configure all of your systems and implement processes for your business to follow to stay compliant.
Our Ecommerce sales tax service makes it easy to budget for your sales tax compliance costs by providing a fixed price service, including special sales tax compliance bundles for Amazon FBA Sellers. Sales tax services Include:
- Sales Tax Analysis / Nexus Study (Partner)
- Sales Tax License Registration (Partner)
- Marketplace and Shopping Cart Sales Tax Configuration
- Filing and Remitting Sales Tax
- Sales Tax Management, including managing sales tax notices from the states