Top 15 Accounting Questions of E-commerce Sellers

Top 15 Accounting Questions of E-commerce Sellers

I have been working as a Certified Public Accountant (CPA) focused on supporting e-commerce sellers for several years. In my time supporting Amazon sellers, eBay sellers, or other inventory sellers, I have noticed a pattern of similar questions recurring over and over.

I think the primary concern/question is, “How do I start to get my books in order? I’m scared I will make a mess before I even get going.”

In an attempt to remedy this stress, we have created a FREE resource to help you. If you haven’t begun to manage your accounting, or if you’ve fallen behind and don’t know where to start or how to get organized, enter your information below to get our FREE QBO Quickstart Guide including a video tutorial and Chart of Accounts specific to your e-commerce business to help you set up an accounting system with QuickBooks Online.

Favorite Tools and Resources for Online Sellers

Favorite Tools and Resources for Online Sellers

One of the most amazing things about doing business in today’s world is the seemingly limitless number of resources available, many of which are free. There are Amazon Seller specific resources, eBay specific resources, and also e-commerce in general resources. I also like the business and personal development resources.

The options can be confusing because there are so many! I thought if I shared a list of resources helpful to me, it might help you wade through the options. Below is a list of resources I suggest you check out to see if one or more might help you manage and grow your business!

Basic Inventory Tracking for E-Commerce Sellers

Basic Inventory Tracking for E-Commerce Sellers

Millions of consumers now do most of their shopping online. This has given e-commerce sellers an incredible opportunity to sell inventory online instead of a traditional brick and mortar store. While some sellers prefer Amazon over eBay, there are many sellers who sell on both.

First, a little background about each. As we all know, both Amazon and eBay are online shopping sites where buyers browse through available products through the online storefront. There are major differences though, mostly that sellers on Amazon’s platform can opt to have Amazon fulfill the customer orders whereas eBay is more of an auction house. eBay facilitates the sale of inventory but does not fulfill orders.

The good news is the accounting for both eBay and Amazon are pretty similar. If you can do the accounting for one, you can do the accounting for the other. Do you have a good system set up already? If not, we are here to help you!

Importing Inventory Guide for Amazon Sellers

Importing Inventory Guide for Amazon Sellers

What terminology do Amazon Sellers need to know when importing inventory?

Many Amazon sellers have found success in importing inventory – whether to resell “as is” or to private label under their own brand. While it can be fun and exciting to know your shipment is on the way from China (or wherever you are importing from,) it’s not as simple as going online, placing an order, and waiting for sales to roll in. (If only!)

Are you familiar with Incoterms, the Harmonized Tariff Schedule, or what a Customs Broker actually does? If not, this guide should help you as you are considering importing or plan to grow your import business.

Why Is Forecasting Difficult for Amazon Sellers?

Why Is Forecasting Difficult for Amazon Sellers?

Forecasting is a decision-making tool used by many businesses to help with budgeting, planning, and estimating future growth. In the simplest terms, forecasting is the attempt to predict future outcomes based on past events and management insight. (from Investopedia.com)

Forecasting is an important planning tool that allows managers/owners to plan for future performance based on past results. This is especially helpful in e-commerce to plan for inventory investment, owner distribution, and making sure operating expenses are covered.