How to Find Accountants for Ecommerce for Your Business
Running an ecommerce business requires you to wear many hats but sometimes it’s easier to use an accountant rather than do it yourself. Accounting can be difficult and having an online business makes it even more challenging, which is why finding specialist accountants for ecommerce is crucial. But what makes a good accountant and do they need to be particularly knowledgeable about ecommerce to help you? What exactly will they help you with and when is the best time to start using them? Not to mention, do you need an ecommerce accountant near you or could someone in another state—or even country—be a better choice? We’ve covered all these topics and more in this comprehensive guide. If you’re ready to find an ecommerce accountant or bookkeeper right now, check out the A2X Directory.
Table of Contents
- Why use specialized accountants for ecommerce?
- Self-manage your books
- Use a traditional accountant
- Use a specialist ecommerce accountant
- When should you start using ecommerce accountants?
- Do I need an ecommerce CPA or accountant—and what’s the difference?
- What does an ecommerce accountant do for my business?
- What to look for when finding an accountant for ecommerce
Find an ecommerce accountant The A2X Directory is a global network of expert ecommerce accountants ready to help businesses like yours. Take me there
Why use specialized accountants for ecommerce?
When it comes to handling your finances as an ecommerce business owner, you really have three options:
- Self-manage your books
- Use a traditional accountant
- Use a specialist ecommerce accountant
In order to understand why using a specialist ecommerce accountant is the best choice, let’s take a look at all three options and weigh the pros and cons of each:
- Self-manage your books
If your business is small or just starting out and relatively uncomplicated, it’s completely fine to self-manage your finances. Not only is it cost-effective, but doing your finances will help you understand your books properly and give you a good line of sight across all areas of the business. That said, once your business starts to scale, other things will need your time and expertise, which is when you should consider hiring an accountant.
- Use a traditional accountant
Hiring traditional accountants for ecommerce might seem like a sensible decision but you need to make sure they understand the ins and outs of an ecommerce business. Ecommerce business owners have more considerations than someone with a brick-and-mortar store, due to all sales going through a sales channel, such as Amazon or Shopify, before revenue hits their bank account. If you’re considering an accountant who has had very few ecommerce clients—and indicates they aren’t particularly interested in learning the complexities of ecommerce—they probably won’t be able to give you the best support and advice.
- Use a specialist ecommerce accountant
Because of the complexities mentioned above, ecommerce sellers will have the easiest time using an accountant familiar with and dedicated to ecommerce clients. When you hire an accountant, you’re doing so because they want to save time and gain assurance that their finances are in the best hands possible. Using accountants for ecommerce means you already have a shorthand—they understand your business model and can immediately start digging into your books to get what they need. Ready to find an ecommerce accountant? The A2X Directory is a global network of expert accountants ready to help you ➡️ Go to the AX2 Directory.
When should you start using ecommerce accountants?
When it comes to deciding when to hire an accountant for your business, several factors come into play. However, if your business is still relatively small, your primary consideration is likely whether you are generating sufficient revenue to justify the investment. Typically, once your business begins to generate enough income to become your full-time endeavor—turning over between $20,000-$50,000 per month—it can be a good time to explore hiring an ecommerce accountant.
Do I need an ecommerce CPA or accountant—and what’s the difference?
Although CPA and accountant are often used interchangeably, there is a difference between the two. While a CPA is always an accountant, an accountant is not always a CPA. A certified public accountant (CPA) is a licensed accountant who has passed the Uniform CPA Exam and fulfilled additional state-specific requirements. They can provide a wide range of accounting services, including tax planning and preparation, auditing, and financial analysis. An accountant generally has a degree in accounting or a related field and can perform a range of financial tasks, such as bookkeeping, financial statement preparation, and tax compliance.
What does an ecommerce accountant do for my business?
You could be mistaken for thinking an accountant is only needed when it comes to filing taxes but in reality they can help with much more. Here are a few of the things an ecommerce accountant could help your business with:
- Choosing your legal formation
- Understanding business expenses and deductibles
- Tax preparation and filing
- Sales tax compliance
- Tax advisory
- Navigating a tax audit
- Managing payroll
- Bookkeeping
- Multi-channel accounting
- Preparing your business for sale or investment
- Providing expert support and advice for ecommerce business owners
What to look for when finding an accountant for ecommerce
Experience and qualifications, Uses cloud-based software and apps, Focussed on growth, Knowledge of international sales tax, How they charge, Where they’re based.
