How Your Online Brand Can Benefit From the Help of an E-Commerce Bookkeeper
What is a Bookkeeper?
If you want your e-commerce business to grow, there are a lot of moving parts that need to be taken care of regularly.
You have to stay on top of updating inventory, marketing your brand, managing invoices and vendors, educating yourself on data-driven trends, and collecting data from sales, marketing, and customer feedback.
And that’s just the beginning.
That’s why accounting services can be a beneficial addition to your business.
They can provide accurate monthly and annual reports, tax filing services, and fractional CFO support that allows you to effectively run your organization, enables you to better analyze operations, and helps inform all financial decisions.
But regardless of your specific financial needs, your retail sales can spike with the help of BELAY Accounting Services.
What Kinds of Tasks Can BELAY Accounting Services Handle?
Our BELAY Accounting Services can offer you and your business all kinds of help, such as …
- Producing Reports & Balance Sheets
- Processing Weekly Bill Pay
- Tax Preparation & Filing
- Supporting E-Commerce
- Processing Payroll
- Reconciling Credit Cards
- Processing Invoicing
- Recording Inventory
- Fractional CFO Services
Now, let’s get even more specific.
Our Accounting Services can help your e-commerce business thrive with …
Reliable Financial Assistance
To avoid burnout and overwhelm, it can be helpful to start with a brainstorming conversation with your Financial Specialist.
Figure out everything that needs to be done, who is in charge of what, and then schedule your tasks.
Scalable Growth
While business owners are more than capable of managing these tasks, it can get to a point where too many hours are being spent on tasks when they should be working on strategic plans and relationship-building instead, and BONUS!
They can actually save money by hiring someone, too.
Payroll Management
Financial Specialists will take over processing and sending invoices, as well as executing payroll each month for your employees and vendors so that you can focus on the relationships with your clients and employees.
Using an approved vendor, a Financial Specialist can manage the cumbersome process to help you compensate your employees for their hard work.
Tax Preparation
A Financial Specialist is what you need if you want to hand off the woes of your finances and taxes — even filing — to someone who loves to get lost in balance sheets.
Your Financial Specialist can help you with tax filing support by collecting all necessary documents and forms and filing your business taxes, including 1099 filings, sales tax, and quarterly filings so you’re compliant with the IRS.
Flexibility
A great thing about working virtually with a Financial Specialist is that there are endless secure systems and apps for the two of you to use to communicate, creating a seamless process.
Your dedicated BELAY Financial Specialist can also import and categorize e-commerce transaction data, including merchant processing fees, chargebacks, returns, sales tax, and more for deeper insights into your financials and revenue forecasting for increased profits.
What Accounting Services Mean For E-Commerce
With e-commerce, there has been a huge push to expand and increase sales.
There are a few best practices and common pitfalls to be aware of that your BELAY Financial Specialist could help you tackle. You can work with your Financial Specialist to brainstorm ways to address these in your business.
Best Practices:
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- Understand the tax structure where you are/would like to do business
- Understand your shipping options for the most effective/efficient choices
- Use Shopify plug-ins to automatically share your products with large retailers like Amazon, Walmart.com, and more
- Learn about digital marketing and how to share your products with a larger audience
- Identify what makes you stand out from your competition
- Have a dedicated bookkeeper that can help you keep track of inventory reporting, varying tax bills, shipping costs, Shopify fees, and more.
Common Pitfalls & Pain Points:
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- Poor inventory management and reporting as products ship nationally – or even internationally
- Not understanding shipping costs as determined by the amount of product shipped, the shipping destination, and more.
- Not knowing the taxes based on the location where the transaction is made
- Not knowing Shopify fees
How This Helps Your Brand
Financial Specialists take the pressure off of you to handle all the routine daily tasks that are essential to your organization. They are by your side every step of the way and their goal is to make your life easier while adding flexibility back into your workload.
Having these somewhat daunting financial aspects of your business handled provides your brand with automatic legitimacy and relevance. In addition, you will gain a sense of confidence in yourself and your business when you start to see things happening and systems in place.
Bookkeepers take the pressure off of you to handle all the routine daily tasks that are essential to your organization. When you can hand off these tasks, you begin to have a clearer vision of where your business is and where you want to go from here.
How to Hire E-Commerce Accounting Services With BELAY
Your BELAY Financial Specialist is ready to help you reclaim your time with accurate monthly and annual reports of financial data that equip you to effectively run your company, better analyze operations, and inform all business decisions.
And you’ll be left wondering why you waited so long.
We also have Website Specialists, Virtual Assistants and Social Media Managers who can help you catapult your e-commerce business as well.
And the best part is that it’s as simple as filling out a form to get started.