Fundamentals

Getting started with Shopify accounting (the basics)

Most people don’t start a Shopify store to spend hours dissecting financial data, but it doesn’t take long for this to happen. Even if you have accounting experience, e-commerce comes with certain nuances that make the job more complex. Although Shopify offers one of the easiest ways to open and manage an online store, lots of business owners struggle to keep on top of their books. With Shopify, this is mostly due to a clunky flow of financial data.

Getting started with Amazon accounting

Estimated reading time: 4 minutes 30 seconds. Starting a business is a whirlwind of activity that involves a wide range of different tasks, and presents a unique set of challenges for every startup. Amazon makes it easier to reach paying customers by providing an advanced online marketplace with millions of active shoppers, and offering fulfilment warehousing (FBA) to simplify the logistical side of things. Whilst it is tempting to dive into development and focus on action, some prior research, planning and self-education can make the journey of entrepreneurship much less challenging and significantly reduce your chances of failure.

Shopify accounting guide

Estimated reading time: 10 minutes. You’ve finally decided it’s time to open an ecommerce store, and you’ve chosen Shopify as your sales platform. Great job – you’ve made the first step! It’s more than likely you now find yourself smack bang in the middle of a whirlwind of activity: Developing product/s, building a business plan, devising a marketing strategy – all incredibly important parts of starting and running your own business.

How to integrate Shopify with Xero

Estimated reading time: 11 minutes. Automation is all about working smarter. It allows you to hand the repetitive tasks of your business, that demand accuracy and consistency, to software designed to handle this. As a result, you have more time to up-skill, learn and grow your business. If you are here, you have probably figured that much out already. Using Xero for Shopify brings you as a seller a host of great benefits and functionality options, so here, we will explore what these are and how to get started.

Developing your ecommerce tech stack

Estimated reading time: 5 minutes 30 seconds. Last updated December 2020. This post is a guest post from our friends at Clearinity. Businesses, like people, evolve over time. Just ask any entrepreneur, and they’ll tell you that years 1-3 may look nothing like years 5-8! The clientele is different. The revenue is different. How daily work gets done might be similar, but the systems that help are usually very different.

Why You Should Be Using Shopify Payments [9 Benefits]

Estimated reading time: 5 minutes. Shopify Payments is the integrated payment gateway for Shopify sellers. Powered by Stripe, Shopify Payments is quick to activate when you open your store and immediately gives your buyers choices when it comes to their payment method at checkout. With hundreds of payment gateways on the market offering you different things, is Shopify’s native the obvious choice? Or should you be giving others a look-in too?

Understanding Amazon FBA Seller Fees

Estimated reading time: 9 minutes. The Fulfilment by Amazon (FBA) program is a great way for entrepreneurs to grow an ecommerce business while minimizing their initial investment. There is no better ecommerce partner in the world than Amazon. However, before you dive into setting up your FBA business, you need to make sure you understand how the program works and the different costs involved. Like infographics? Check out this one for a breakdown of Amazon fees and what they include.

A Complete List of Walmart Product Categories

A Complete List Of Walmart Product Categories Estimated reading time: 10 minutes. With no set-up or ongoing membership fees, a wide customer base and less competition than many other online platforms, Walmart Marketplace has emerged as a major opportunity for ecommerce sellers. It is important as a seller on Walmart Marketplace that you categorize your items correctly. This not only determines customer experience and visibility, but it directly affects the fees that you will need to pay the platform.

Walmart Sales Tax - How To Do It The Right Way

Estimated reading time: 7 minutes. Sales tax is one of the greatest challenges for ecommerce sellers in the US. Why? Because compliance requirements differ across the states, and the consequences of getting it wrong can be quite significant. In 2018, the South Dakota vs. Wayfair Inc. ruling changed the tax landscape for remote sellers for good. With this decision came a wave of state-specific rules and definitions of tax nexus, leaving many sellers - small and large - confused about their obligations.

How to Collect VAT Through Amazon UK Seller Central

Estimated reading time: 7 minutes. This guide was correct at the time it was written. With impending potential Brexit changes and ongoing ecommerce tax developments, it is best to get the most up-to-date information from the official government channels or an accountant. A top priority for any established Amazon seller is charging and collecting sales tax. Why? Because if you’re unable to meet your sales tax obligations, the responsibility and repercussions rest solely on your shoulders – not with Amazon.

UK Ecommerce Accounting Software for Amazon FBA and Shopify

Running an ecommerce business in the UK comes with a unique set of challenges and opportunities. Regardless of whether you’re selling on Amazon, Shopify or another digital avenue, you need to have accurate financials in order to make sound business decisions. Many digital entrepreneurs (and their bookkeepers) manually enter the sales or payout data into their accounting system. While it may seem like a suitable solution in the beginning, this can result in more work and a wide range of issues such as reporting errors, difficulties with comparing the performance of different channels and time periods, and challenges when it comes to selling your business down the line.

How to Add Google Analytics to Shopify

A super simple guide for new e-commerce store owners The best way to improve your Shopify store is to learn as much as you can about your customers – like how they find and browse your store. For traditional retail stores, that information is relatively easy to come by – you can simply ask your customers in person. But for e-commerce store owners who never come face-to-face with their customers, this can be a challenge.

The Best Accounting Software and Tools for Shopify

Estimated reading time: 8 minutes. As a Shopify seller, having a good set-up is crucial for business growth and maintenance. If you’re an ecommerce seller on the hunt for the perfect accounting system, this article will explore why Xero and Quickbooks with A2X for Shopify are the best solutions on the market. Quickbooks Online See pricing plans. Intuitive Quickbooks Online is rated by many as the gold standard software for small business accounting – and they wouldn’t be wrong.

A Guide to Amazon Seller Fees: Everything You Need to Know Including Hidden Fees [Infographic]

Estimated reading time: 5 minutes. There are many fees involved in selling on Amazon. Amazon charges you a fee for just about everything it does within the sale and delivery process. However, most sellers find that these fees are well worth it and allow them to focus more on scaling their business and less on the fulfilment side. Fulfilment and processing of orders is really what takes up a lot of manual time in a physical products ecommerce business.

Understanding the Cost of Goods Sold for Amazon

Estimated reading time: 6 minutes 30 seconds. Part of running a successful Amazon ecommerce business is making sure you always keep an eye on your margins. This includes more than just knowing how much Amazon deposits into your account. You also need to know what your actual gross margins are each month so you can track trends, plan for growth, and spot potential problems. The key to calculating your true monthly gross profit and keeping an accurate set of books is understanding your costs of goods sold.