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Revenue, costs and profit for the month, so you know your real margins.
Where your cash came from and where it went.
Revenue, COGS, operating expenses and net earnings at a glance.
EcomBalance is built by eCommerce sellers and entrepreneurs, not bookkeepers, although we have a great bookkeeping team. Connor Gillivan and Nathan Hirsch sold over $25 million on Amazon before building and selling an eCommerce freelance marketplace, FreeUp. We have been in the space for 15+ years building strong bookkeeping processes in our businesses. Strong financials helped us scale and eventually exit FreeUp.
We are great at hiring bookkeepers and we bring an entrepreneurial mentality to bookkeeping. We speak to entrepreneurs and know what entrepreneurs (specifically sellers) want in a monthly bookkeeping service. We are also process junkies. Our focus is strong and efficient processes from pricing to integration to getting you financials you can actually understand and make decisions on.
For eCommerce businesses, sales and COGS are reported on an accrual basis. Link My Books (the tool we use to connect with eCommerce marketplaces and processors) imports all sales and COGS data under accrual basis accounting.
We don’t offer a service to accrue expenses and other accounts since that would cost significantly more time and money (and is unnecessary for most businesses).
If you are not an eCommerce business, our sister company AccountsBalance does bookkeeping on a cash basis.