Imagine this: you’re an ecommerce business owner, and you’re juggling a million tasks. You’re responsible for marketing, sales, customer service, and product development. And now, you have to worry about your finances too?
This is where an ecommerce accountant comes in.
Ecommerce accountants are specialized accountants who have the skills and experience to manage the finances of an ecommerce business.
They can help you with a variety of tasks, including bookkeeping, tax preparation, financial reporting, budgeting and forecasting, and business advisory services.
But first, why is it so important to hire a specialized ecommerce accountant?
Why You Should Hire an Ecommerce Accountant
While we can give you a list of reasons as to why it’s important to hire a specialized ecommerce accounting firm rather than a general one (they’re up-to-date with compliance and regulation, understand tax breaks & deductions, knowledgeable about industry specifics), we think it’s more helpful to look at individual examples.
Here’s a specific example of how an ecommerce accountant can help.
Let’s say there is a $1m ecommerce business that sells handmade jewelry. The business is growing rapidly, and the owners are looking to expand their product line and enter new markets.
However, they are not sure how to finance their expansion.
An ecommerce accountant can help the business owners develop a financial plan that outlines their growth goals and how they plan to achieve them. The accountant can also help the business owners identify potential funding sources, such as loans and grants.
Once the business owners have a financial plan in place, the ecommerce accountant can help them track their progress and make sure they are on track to meet their goals. The accountant can also provide the business owners with regular financial reports so they can see how their business is performing and make necessary adjustments.
Here are some specific ways that an ecommerce accountant can help the business owners achieve their growth goals:
- Help the business owners identify and track their key performance indicators (KPIs). KPIs are metrics that measure the success of a business. Some common KPIs for ecommerce businesses include conversion rate, average order value, and customer lifetime value. By tracking their KPIs, the business owners can identify areas where they need to improve and make necessary adjustments.
- Help the business owners develop and implement a budget. A budget is a plan for how the business will spend its money. An ecommerce accountant can help the business owners develop a budget that aligns with their growth goals.
- Help the business owners forecast their future sales and expenses. Forecasting helps businesses predict their future financial performance. This information can be used to make decisions about inventory levels, marketing spend, and staffing.
- Help the business owners make sound tax planning decisions. Tax planning can help businesses reduce their tax liability and save money. An ecommerce accountant can help the business owners develop a tax planning strategy that meets their individual needs.
- Provide the business owners with financial advice and support. Ecommerce accountants can provide the business owners with valuable advice and support on a variety of financial matters. This can include advice on how to improve their profitability, how to manage their cash flow, and how to invest their money.
Overall, an ecommerce accountant can be a valuable asset to any ecommerce business, especially one that is looking to grow.
By providing financial planning, forecasting, tax planning, and other financial services, an ecommerce accountant can help businesses achieve their financial goals and grow their businesses.
If you’re looking for a specialized ecommerce accountant to help you take your business to the next level, here are three of the best we recommend:
Top 3 Best Ecommerce Accountants to Consider
1. Equivion
Equivion is a leading provider of ecommerce accounting and bookkeeping services. They help over 80+ ecommerce businesses a month (with a 5-star rating!), and have a team of experienced accountants who can help you with all aspects of your financial management.
Equivion offers a variety of services, including:
- Bookkeeping
- Tax preparation
- Financial reporting
- Budgeting and forecasting
- Business advisory services
Equivion is known for their high-quality work and their commitment to customer satisfaction. Their founders, David Rogowiec and John Wazydrag started the business with a passion to help ecommerce business owners scale and drive their business forward. They place a heavy emphasis on constant communication, price transparency, and a hands-on approach.
Whether through insightful monthly analysis, complex inventory management, or multi-state sales tax compliance, they bring peace of mind to your business that’s hard to replace.
Here are some of the benefits of working with Equivion:
- They are a modern, young firm that does things differently to the traditional accounting firms.
- They have a hands-on approach that includes constant communication and a heavy emphasis on growth.
- They offer a wide range of services, so you can get all of your financial needs met in one place.
- They are committed to customer satisfaction and have over 80+ 5-star reviews.
You can book a free consultation with the group at Equivion here.
2. Ledger Gurus
Ledger Gurus is another top-rated ecommerce accounting firm. They have a team of experienced accountants who can help you with all of your financial needs. Ledger Gurus offers a variety of services, including:
- Bookkeeping
- Tax preparation
- Financial reporting
- Budgeting and forecasting
- Ecommerce consulting
Ledger Gurus is known for their expertise in ecommerce accounting and their ability to help businesses of all sizes achieve their financial goals. They offer a free consultation so that you can learn more about their services and how they can help you grow your business.
Here are some of the benefits of working with Ledger Gurus:
- They have a team of experienced accountants who specialize in ecommerce accounting.
- They offer a wide range of services, including ecommerce consulting.
- They have a proven track record of helping businesses of all sizes achieve their financial goals.
You can get in touch with the team over at Ledger Gurus here.
3. Bean Ninjas
Last but not least, Bean Ninjas is a fast-growing ecommerce accounting firm. They have a team of experienced accountants who are passionate about helping businesses succeed. Bean Ninjas offers a variety of services, including:
- Bookkeeping
- Tax preparation
- Financial reporting
- Ecommerce accounting software setup and training
Bean Ninjas is known for their innovative approach to ecommerce accounting and their commitment to providing their clients with the best possible service. They offer a free consultation so that you can learn more about their services and how they can help you grow your business.
Here are some of the benefits of working with Bean Ninjas:
- They have a team of experienced accountants who specialize in ecommerce accounting.
- They offer a variety of services, including ecommerce accounting software setup and training.
- They are known for their innovative approach to ecommerce accounting.
You can book a call with the team over at Bean Ninjas here.
Which Ecommerce Accountant is Right for You?
The best ecommerce accountant for your business will depend on your specific needs and budget.
If you’re not sure which accountant to choose, we recommend that you contact all three of the firms listed above for a free consultation. This will give you a chance to learn more about their services and see which firm is the best fit for your business.
Here are some questions you can ask each firm during your consultation:
- What experience do you have with ecommerce accounting?
- What services do you offer?
- What are your fees?
- How will you work with my team?
- What are your communication preferences?
By asking these questions, you can get a better understanding of each firm and choose the accountant that is the best fit for your business.
Here at Equivion, we love helping ecommerce businesses make better financial decisions. If you’re interested in scheduling a free call with us, you can get started by filling in a quick form here.
It’s super simple to get started.
Hiring an ecommerce accountant can be one of the best investments you can make for your business. A qualified ecommerce accountant can help you save time and money, and they can also help you make better financial decisions.
Until next time!
