Spend less than an hour on your e-commerce accounting – Every month!
FAQ about e-commerce accounting
In our comprehensive guides, we’ll go through each of these topics in more detail.
The best accounting software for an e-commerce merchant needs to be cloud-based, offer an array of integrations, fit your budget, manage multiple currencies and fit your specific needs. In our free guides, we offer a checklist that you can go through when comparing different accounting software options.
You can sync your e-commerce transactions to your cloud-based accounting software by using an accounting integration. Amaka provides detailed and thorough accounting integrations that entirely automate the data entry process and fast-track bank reconciliation. We offer a free plan that allows you to sync up to 60 orders per month.
It’s recommended that you regularly look into your cash flow and to forecast for the future. Using a cash flow forecasting tool that integrates with your accounting software can help you to understand and draw insights from your e-commerce data.
Though it’s recommended to have a tax accountant when running an e-commerce business, it can be useful to understand the basics of income taxes and sales taxes. In our free e-commerce accounting guides, we go into more detail about these topics. When it comes to income taxes, you pay these as you would with a regular job. However, obligations change if your business is incorporated. In terms of sales taxes, you need to understand the different regulations in place across all the regions you sell in.
In the early stages, it’s recommended to have a tax accountant that can help with tax returns. Once you’re in the growth phase, maybe you’re working on your e-commerce business full-time or you even have employees, it becomes more impactful to hire an accountant specialising in e-commerce. Finally, when your business becomes established, it becomes almost necessary to have an accountant. In our free guides, we run you through the questions you should be asking when comparing accounting professionals.