Are you properly collecting and remitting sales tax in your Shopify store? Shopify has an estimated seller count above 4.4 million, making them one of the fastest growing platforms for eCommerce sellers. Understanding the Shopify sales tax collection process can be overwhelming, especially as your eCommerce business expands into new territories. This makes it important…
eCommerce sellers can fall into debt traps easily because it’s a cash flow business. If you aren’t hitting your expected sales figures and don’t have the appropriate cash reserve, where does the money to pay vendors, suppliers, and employees come from? Although holding debt in itself isn’t a bad thing, as debt is a top…
One of the first decisions that eCommerce businesses will need to make is their accounting method. Two popular choices for eCommerce sellers are accrual and cash accounting. Each method results in different financial statement requirements and taxation, making it important to choose the right one for your business. Understanding the Different Methods of Accounting The…
eCommerce sellers are constantly trying to find ways to improve efficiency. Whether that be speeding up shipping times or reducing website lags, efficiency often translates to greater productivity and profitability. However, this isn’t always the case regarding your bookkeeping and software. Understanding the primary differences between bookkeeping and software, including the pros and cons, can…