As consumers find new ways to fill their time, agency businesses are in high demand, especially those centered around e-commerce. Your agency business, regardless of industry focus, needs to implement the proper agency accounting procedures to navigate through the complex business environment. Sales tax, revenue recognition, and tax planning are the three pillars of agency…
Shopify has continued to gain popularity amongst the e-commerce community, with statistics supporting a 200% growth from 2020. This platform maintains its popularity because of the added ease of running and scaling an e-commerce business. Although Shopify can be a great platform to host your e-commerce operations, the duty falls on you as a business…
There’s often a tradeoff between time and accuracy. Sure, you could create a product description in 20 minutes, but how accurate will that listing be? Typos and errors are common when certain tasks are rushed. The same applies to bookkeeping and software. eCommerce sellers should understand the differences between bookkeeping and software to take advantage…
Businesses centered on eCommerce are in high demand. As the revenue starts to flow in, be aware of your accounting records. You don’t want to get stuck with a high tax bill at the end of the year because you neglected to take tax-deductible expenses. The next time you are going through your bookkeeping or…
Taxes. Nobody wants to do them, but at the end of the day, everybody and every company are obligated to assess whether they owe taxes. Most people are uncertain as to how to tax plan in general. For example, 90% of people in this survey did not even know how many tax brackets there are. If…
If you are an entrepreneur or business owner, you should know that 80% of new businesses fail within the first five years. The good news is that 90% of failed companies suffer from poor management decisions. Why is this good news? Because getting your finances in order provides you with the information necessary to make solid business decisions.…
Are you one of the many business owners that struggle to keep up with your business’s bookkeeping and financials? Regular financial statement generation and bookkeeping provide your business with a strong foundation to make informed business decisions, secure funding, and grow operations. One of the most important financial statements that business owners should regularly generate…
eCommerce companies are exploding! Recent statistics suggest that by 2025, eCommerce sales could hit $7.4 trillion. This is over two times what the 2019 eCommerce market value was. Every year, as eCommerce sales grow, so does the total of eCommerce taxes the IRS collects. Is your eCommerce business prepared for Tax Day? To ensure a…
Imagine starting the online store of your dreams, and you get a few sales. However, you realize that you can’t stand the process of bookkeeping and accounting. Consider hiring ecommerce accounting services to handle that for you. Then, you can focus on the tasks you enjoy so that your business can grow. Keep reading to…