Managing refunds, chargebacks, and cancellations is a crucial part of running a successful eCommerce business. While these transactions are inevitable, they can complicate your accounting and impact your cash flow if not handled correctly. In this blog post, we’ll break down best practices for recording and managing these transactions to keep your books accurate and…
DetailsRunning an Ecommerce business is like captaining a ship. Your products are the cargo, your website is the vessel, and your marketing strategy is the wind in your sails. But what happens when you don’t have an accurate map or compass? That’s where financial reporting comes in. Without it, you could be sailing blind—right into…
DetailsBeneficial Ownership Information Reporting has become mandated again. With the February 18, 2025, decision by the U.S. District Court for the Eastern District of Texas in Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336 (E.D. Tex.), Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA) are back…
DetailsValentine’s Day is one of the most profitable occasions for e-commerce businesses. Whether you’re selling products for couples, singles, or even platonic gifts, it’s the perfect time to tap into this holiday of love. A well-executed Valentine’s Day campaign can increase sales, boost brand awareness, and gain customer loyalty. Here’s how to plan a…
DetailsThere have been changes in 2025 for the United States with the recent presidential inauguration. These changes include the latest tariff developments. We are diving deeper into what these changes are and what they might mean for your business. Since we work with so many sellers who source from China, we understand this is…
DetailsSales tax. It’s one of the most critical and confusing aspects of running an eCommerce business. Whether you’re a seasoned online seller or just starting your journey, understanding sales tax is key to ensuring you stay compliant and avoid costly mistakes. The rules around sales tax for eCommerce businesses are constantly evolving, and the landscape…
DetailsThe start of a new year is the perfect time for e-commerce entrepreneurs to reflect on their past performance and set ambitious yet achievable goals for the year ahead. Already almost a month into the new year, if you have not set your 2025 goals for your business now is the time to do so.…
DetailsFor online entrepreneurs, maximizing profits is essential to building a thriving eCommerce business. While driving sales is important, focusing on improving margins and reducing operational costs is the key to long-term success. Here are some smart financial strategies to help boost your bottom line: 1. Optimize Your Cost of Goods Sold (COGS) Regularly review your…
DetailsBeneficial Ownership Information (BOI) reporting was set to become mandatory for most companies under the Corporate Transparency Act (CTA) starting January 1, 2024. This requirement aims to increase transparency and combat illegal activities like money laundering and tax evasion by requiring businesses to disclose their beneficial owners. A reporting company created or registered…
DetailsAs an online seller on Shopify, you are likely focused on marketing your products, engaging with customers, and fulfilling orders promptly. Amid these bustling activities, inventory accounting might seem like just another task on your to-do list. However, effective inventory accounting is crucial to the success and sustainability of your e-commerce business. Here’s why: 1.…
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