Ecommerce accounting is the collecting, analyzing, organizing, and reporting of financial data related to business transactions that occur online. Businesses are leaning into online stores, and they are selling a broad spectrum of products, services and subscriptions to their target audiences. Trends show that both consumers and businesses are increasingly purchasing online; therefore, ecommerce accounting is now mandatory for online sellers.
Do you want to learn more about the basics of ecommerce accounting and how to make this niche service part of your offerings?
This eBook is intended to help bookkeepers and accountants who are interested in the basics and best practices of ecommerce accounting.
We break it down into four best practices:
- Accrual accounting
- Daily summaries by platform
- Balance accounts
We’ve included these four topics, as well as the reasoning behind their importance, and how we have used these practices to build Bookkeep.