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FAQ

eCommerce is the future.

We believe in the industry and want to see eCommerce businesses thrive. You can't do that without the right financial support. We're here to help you master your eCommerce financials.

Let us handle the eCommerce specifics for you

Inventory bookkeeping

We keep your inventory records up to date multiple times throughout the year so you can see how much you have in inventory.

Sales tax

We work with you to understand the sales tax obligations you have selling in different states and countries.

Different currencies

We help navigate the world of multiple currencies when you're based in one country and selling in others.

Multiple sales channels

We easily integrate with your sales channels so getting the reports each month is simple and fast.

Marketplace fees

We understand selling on Amazon, eBay, Shopify, Etsy and other marketplaces -- and how to properly classify their fees.

Business loans

We properly account for business loans you may have for your eCommerce brand when purchasing your inventory.

Have other unique eCommerce situations?

We've got you covered. During onboarding, we'll learn your business in and out so that we can handle any situation you throw at us.

We’re integrated with the best eCommerce software

We quickly connect to your accounts so the data retrieval process is simple.

Frequently Asked Questions

eCommerce companies selling on Amazon, Ebay, Shopify, Etsy, and other channels tend to face difficulties that other small business owners don’t. This includes, but is not limited to COGS, Amazon fees, marketplace fees, inventory, sales tax, and other eCommerce related expenses. eCommerce companies tend to sell on multiple marketplaces and platforms as well which makes it more difficult to keep track of all of the transactions that occur on a monthly basis. Because of all of these reasons, it’s important to have a bookkeeper and accountant that understands the complexities of eCommerce companies.

Our customers sell across many different platforms and marketplaces online: Shopify, Amazon, Walmart, WooCommerce, Magento, BigCommerce, Etsy, eBay, among others.

EcomBalance will make inventory updates in your financial statements every month, quarter, or biyearly as the information is provided to us. As we get started working together, we’ll dive deep into your inventory management to best understand how to obtain that data as we take on your bookkeeping.

There are a number of different pieces that make up Cost of Goods Sold (COGS) for most eCommerce businesses: 

  • For product COGS (i.e., the actual cost of the items sold), we use data that you provide about your inventory and item costs. 
  • For Merchant Fees and Shipping Costs, we’ll track the information provided to you from your sales channels and incorporate them into the COGS as a separate line item so you can easily see how much that is costing you per month. 
  • For all other variable costs you wish to track as COGS (for example, storage costs or warehouse costs), we’ll work with you to categorize them into different categories so you can see them on your reports each month.

On the backend, we’ll pull that information directly from your sales channels so we have accurate data. It will appear as a separate line item on your reports so you can see how much you’re spending there per month.

Yes, we can break it down in your monthly Profit and Loss statement.

Yes, we can create custom eCommerce reports for you based on your products and sales channels. At this time, this service is not offered with our most basic package, but you can easily upgrade and add it on to whichever monthly plan you choose. Simply let us know this is important to you after you sign up and we’ll make sure to include it in your price estimate.

Perfect your eCommerce bookkeeping

See what it's like running your business with expert eCommerce bookkeepers on your side. Try us for free -- we'll do your most recent's months books so you can see what it's like working with us.

Special eCommerce guide

Want to master your books?

Get our 9 simple steps for perfecting your eCommerce books each month...