Accounting
The Fundamentals of Ecommerce Accounting: A Comprehensive Guide
Most sellers don’t start their online businesses with ecommerce accounting in mind, but understanding your numbers is essential to achieve success and maintaining a profitable, healthy business. Financial issues—such as running out of cash or price and costing problems— are some of the main reasons ecommerce businesses fail. This comprehensive guide is the perfect starting point if you want to avoid those common pitfalls.
The reality is that ecommerce accounting is tricky, with many added complexities compared with accounting for a brick-and-mortar retail business.
The Ultimate New Bookkeeping Client Onboarding Checklist
Getting new clients is always a moment to celebrate, but for many practices, the effort stops once the sale is made. Sadly, it’s too common for the onboarding process to be a last-minute thought.
Real experts know that a comprehensive and professional onboarding will provide a strong foundation and set everyone up for a successful working relationship. Better yet, it can be fantastic for brand building and an opportunity to gain feedback that could improve your practice.
Etsy Accounting Guide: Everything You Need To Know
Etsy sellers, arguably, have more to account for in their books than other ecommerce sellers.
Keeping track of all the costs involved in creating a product, and then selling it, is essential to ensuring you make a profit in the end.
If you want to grow, that is.
In this Etsy accounting guide, part of our Etsy accounting hub, we’ll be covering all the key things that sellers like you need to know, and do, to successfully manage your books.
Accounting for Shopify Merchants: The 8 Setup Steps
Selling on Shopify is all about freedom of expression for your brand, and that’s pretty exciting for an ambitious entrepreneur.
With Shopify’s unique customization offering, it now powers millions of ecommerce stores and some of the biggest brands in the world including Kylie Cosmetics, Heinz, Lindt, RedBull, Tesla, Sephora, and more.
But the road to growth and success isn’t without bumps, and planning as early as possible for these is the best way to minimize damage.
Understanding Ecommerce Sales Tax
Ecommerce sellers used to have a pretty easy time when it came to sales tax, but those days are gone.
In June 2018, a landmark case turned the tide on sales tax collection for good. The Wayfair vs. South Dakota ruling redefined the criteria for business owners eligible to pay sales tax.
Prior to this ruling, business owners needed physical presence in a state to be considered eligible to remit sales tax.
Accounting for Amazon Sellers: The 5 Basics
Selling on Amazon is a pretty exciting prospect for any entrepreneur.
With billions of visitors every month, Amazon.com is an advanced marketplace armed with all the tools new sellers need to make a serious profit.
But the road to making money on Amazon isn’t always smooth. It can be made easier with smart planning upfront - especially when it comes to how to do Amazon accounting.
This guide is an introduction to setting up your accounting for Amazon FBA.
10 Ways to Grow Your Amazon Client Base
If you’re an accountant trying to establish your niche, serving Amazon sellers is a great way to get your name out there.
There are nearly 2 million active Amazon sellers, with the site selling around 4000 items per minute!
That’s a sizeable pool of potential clients for an accountant. And currently, around 34% of them are looking for new opportunities, so that’s a good indication that they’ll be able to outsource their accounting and bookkeeping to a professional such as yourself.
How (and when) to find an eBay accountant or bookkeeper
eBay can be a lucrative sales channel for ecommerce businesses. But stepping into eBay’s vast marketplace, home to nearly 200 million active buyers, brings its own set of financial intricacies. It’s a landscape where understanding the nuances of eBay-specific accounting is not just beneficial, but essential.
This guide will help you navigate these intricacies, providing the insights and guidance necessary for effective financial management on eBay. We begin by exploring the different types of accountants or bookkeepers you might consider working with.
How to Find a Shopify Accountant or Bookkeeper: Your Ultimate Guide
Have you ever found yourself lost in the maze of Shopify accounting and wondered if there was someone who could guide you through its intricate pathways? You’re not alone. Managing fees, refunds, and taxes for your store can be an overwhelming experience. And when you consider that up to 90% of ecommerce businesses fail within the first four months, it’s clear Shopify merchants should do all they can to gain a competitive advantage.
The Ultimate Guide to Shopify Accounting and Bookkeeping for Ecommerce Success
Shopify is one of the most popular ecommerce platforms in the world, with over two million users, including brands like Allbirds, Gymshark, and Kylie Cosmetics. If you have a Shopify store, it’s crucial to understand how you can set your store up for financial success, including with your Shopify accounting.
Anyone can launch a Shopify store, but achieving success demands a blend of talent, creativity, passion, and effective financial management.
What Makes Ecommerce Accounting Different?
Business accounting is one thing.
Ecommerce business accounting? That’s another thing entirely. And for sellers with little to no accounting experience in general, it’s crucial to get to grips with what’s required as early as possible.
The basic principles of accountingremain the same, but there are some fundamental differences.
For each that we cover below, there are solutions out there to help you.
With the monumental growth of ecommerce has come a significant expansion in the tools available to facilitate these types of businesses, so you are far from alone!
How A2X Can Help Your Ecommerce Clients
Helping ecommerce clients today reach their full potential involves a lot of the right technology.
Smart automation combined with your skills and expertise is the name of the game now, and in this post, we’ll be exploring how our accounting partners have used A2X to streamline their clients’ ecommerce accounting.
Alongside their talent and hard work, some of our accounting partners have credited A2X with their success, scalability, and even their business models.
Sales Tax Strategies for Ecommerce Sellers
This article is based on a guest post from our good friends at MuseMinded.
For ecommerce sellers, sales tax compliance can be overwhelming.
Even if you are a US-based seller just trading domestically, the differences in requirements across the country are dizzying at times.
Tax laws surrounding ecommerce sellers are still relatively new - like the industry itself. The wrinkles have yet to be ironed out, and so sellers today (and their accountants) are amongst the first to find their feet in a complex, evolving system.
Options for Filing & Automating Sales Tax Returns
This article is based on a guest post from our good friends at MuseMinded.
The blog is the final in our ecommerce sales tax series, as part of the A2X ecommerce accounting hub.
If you’ve been with us from the beginning, you’ll have covered an overview of what sales tax is, why and how it affects ecommerce sellers today, and strategies to deal with sales tax compliance. Next up, we discuss your options for filing.
Profit First for Ecommerce Sellers
Accountants might be comfortable with P&Ls and balance sheets, but not all ecommerce sellers are.
When it comes to a quick reference point on the health of their business, sellers often look at their bank accounts.
With bank transactions being almost instant nowadays, nowhere else offers them the same real-time viewpoint as those balances. Simple, quick, and easy.
But as we know, simple, quick and easy can often lead to poor quality.
eBay Taxes: An Overview Guide
… eBay sellers generally need to pay most attention to the following taxes depending on their location:
Sales tax (for the US) VAT or GST (for countries outside the US like the UK & Europe) For more detailed information on these, select the guides linked above. Here, we’ll cover some of the frequently asked questions about eBay taxes across the board.
It might be worth bookmarking this page for quick and easy reference later on!
Amazon Seller Fees & Transactions: A Comprehensive List
Updated on November 30, 2023
Understanding the Amazon seller fees you can expect to pay on Seller Central is crucial to your bottom line. You don’t want to be paying more in fees than you’re making in profit!
Sellers need to be able to interpret Amazon settlement statements to figure out exactly what charges you have paid and why, so that you can plan to minimize them as much as possible.
How Sales Tax Law is Changing
The internet has changed the way we buy and sell.
Online marketplaces such as Amazon and eBay now dominate the retail landscape, and more and more retailers are moving online.
In the US, tax law is changing in response. Rather than missing out on online sales tax, states are adapting their laws and introducing new legislation in order to force sellers or online marketplaces to collect and remit sales tax.
Finding Specialist Accountants for Ecommerce to Suit 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?
The 10 Most Common Amazon Accounting Mistakes (and How to Avoid Them)
FBA sellers stand to make good money if they know what they’re doing.
Around 20% typically make between $1000-$5000/month, with around 10% making up to $50,000/month. The sky’s the limit, but the foundation must be robust first.
And there’s plenty that can go wrong easily, especially in the early days.
This blog is inspired by a previous guest post by our friends at Bean Ninjas, and this video by Catching Clouds co-founder Patti Scharf.
How To Find An Amazon Accountant Or Bookkeeper (And When) [Full Guide]
Accurate Amazon accounting is a must.
The best thing you can do for your ecommerce business is to build an accounting framework that scales and nurtures your success. What does this look like?
Great accounting software and the support of a specialist Amazon accountant.
Whether your accountant just helps you get set up or supports you full time, their help and advice can be invaluable to the growth of your Amazon store.
eBay QuickBooks Integration: How to Set it Up
Setting up an integration between eBay and QuickBooks Online is a great idea – especially if you’re looking to spend less time on eBay accounting and bookkeeping.
High-volume eBay sellers and accountants/bookkeepers who work with eBay sellers will be all too familiar with the complexities of eBay accounting and trying to get transactions to match up with eBay payouts.
Fortunately, integrating eBay with QuickBooks Online can make eBay accounting and bookkeeping quick, easy, and accurate.
Shopify Xero Integration: How to Set it Up
Setting up an integration between Shopify and Xero is an excellent way to save time on bookkeeping and get more accurate financials.
Whether you’re a Shopify merchant managing your own books, or an accountant or bookkeeper who works with Shopify merchants, you’ll likely be familiar with the fact that getting your Shopify payouts to reconcile in Xero is challenging. Factors such as multiple payout sources, Shopify fees, different transaction types, third-party apps, and more make bookkeeping confusing and time-consuming.
From Boom to Sustainability: Why Effective Cash Flow Practices are Critical for Ecommerce Businesses
The global ecommerce industry has experienced an unprecedented boom over the past decade, driven by technological advancements and changing consumer behavior. However, as the initial hype begins to settle, competition intensifies, customer acquisition costs rise, and market saturation sets in, ecommerce businesses must adopt a strategic approach to sustain their growth.
In today’s uncertain economic climate, effective cash flow management and forecasting emerge as critical elements that determine the long-term success and stability of ecommerce ventures.
COGS: How the Cost of Goods Sold is Your Key to Profitability
As important as COGS (cost of goods sold) is, it can be a confusing concept to understand. One simple Google search can return a multitude of different definitions. You may be asking yourself: How can this be?! It’s because COGS is calculated differently based on business type. This article will set the record straight on COGS for ecommerce sellers, walk through similar calculations that often get confused with COGS, and explain how best to analyze the profitability of your business with the help of COGS.
A2X Joins the QuickBooks Online Solution Provider Program: An Impressive Pairing for Ecommerce Accounting
Since 2017, ecommerce businesses and their accounting partners have trusted A2X to accurately automate their revenue reconciliation in QuickBooks Online. From Amazon, Shopify, eBay, Etsy, BigCommerce, Walmart to multi-channel, A2X and QuickBooks Online form an ideal solution for online merchants – with 478 reviews and a 4.7 star rating on the QuickBooks Online App Store. Building upon this success, A2X is excited to join the QuickBooks Online Solution Provider Program.
Q2 Product Updates: Simplified Billing, Improved Bulk Actions, and More.
From a simplified billing process to intuitive bulk actions, our recent enhancements are designed to speed up your monthly operations. Here are A2X’s product updates for Q2, 2023. #1 Same Advanced Mapping Functionality, But Easier to Use The A2X Mapping Page has had an upgrade, but instead of a total transformation, we’ve focused on making it more user-friendly without changing the advanced functionality you’re familiar with.
Mapping can be complicated, which is why we want to give you quick access to the resources you need to do it yourself or enlist the help of an ecommerce accounting professional.
By the Books: Step-by-Step Guide to Managing VAT and Amazon Seller Bookkeeping with Xero and A2X
No matter if you’re stepping into the world of Amazon entrepreneurship or already well on your way to building a successful business, you’ll have to wrestle with the complexities of managing your Amazon seller bookkeeping and accounting. Far from solely being a way to keep your store compliant, maintaining reliable financials actually equips your business with the knowledge necessary to guide you through good strategic decisions.
Think of your Amazon accounting system as a symphony orchestra.
[Webinar] Avoid These 3 Ecommerce Accounting Mistakes
With every transaction made and every dollar earned, keeping a precise record is imperative for accounting and tax purposes. This holds true whether you’re an experienced ecommerce merchant or a novice starting your journey. Unfortunately, it’s all too easy to stumble into expensive accounting blunders.
In this insightful webinar, A2X’s product marketing manager, Amy Crooymans, and OFX’s Oliver Budniak unravel the complex world of ecommerce accounting. Read on to hear Amy highlight how to sidestep some of the most frequent errors made by ecommerce businesses in their accounting practices.
Amazon QuickBooks Online Integration: How to Set it Up
Integrating Amazon Seller Central with QuickBooks Online is a great way to spend less time on bookkeeping while getting more accurate financials.
If you’re an Amazon seller (or an accountant or bookkeeper who works with Amazon sellers), then you’ll understand that Amazon bookkeeping can be complex. Amazon settlements are made up of sales, fees, refunds, and other fees and transactions that must be coded to the correct account and reconciled in QuickBooks.
[Webinar] How to Avoid Costly Ecommerce Accounting Pitfalls with A2X
If you have money coming in and money going out, you need to keep track of it for accounting and tax purposes. Whether you are a seasoned ecommerce seller or are just learning how to sell on Amazon, it’s easy to make costly accounting mistakes.
In this webinar, A2X product marketing manager Amy Crooymans discusses how to navigate ecommerce accounting and avoid some of the common mistakes ecommerce companies make with their accounting.
Meet A2X's New Product Homepage & Simplified Setup Experience
A2X is renowned for being the most robust and accurate ecommerce accounting solution, and that will always be at the core of everything we do. But that doesn’t mean it shouldn’t be easy to set up and use.
A common theme in both customer feedback and product UX reviews was that getting set up on A2X could be a little daunting. First impressions are so important, and we care about our customers having the best first experience with A2X.
Effectively Managing Payroll for Your Ecommerce Business
It’s probably a pretty safe bet to say you didn’t start your ecommerce business to manage payroll. As much as it’s a not-so-glamorous task in the line of tasks you have on the go, it’s a necessary one once you start bringing employees into the fold of your ever-growing business. And one you’ll want to complete with precision.
As you probably know, payroll isn’t just about paying your employees and washing your hands of it.
The Ultimate Etsy Sales Tax Guide
If you’re an Etsy seller concerned about whether you should be collecting sales tax yet, or how to remit it, then this guide is for you.
Sales tax can get confusing. Not only does every US state have its own criteria for when to pay but rates, rules, and filing frequencies differ too.
But you’re not in it alone. There are plenty of ways you can successfully handle your sales tax that shouldn’t sink your business.
Shopify QuickBooks Integration: How to Set it Up
Integrating Shopify and QuickBooks Online is a great way to save time on bookkeeping and get accurate financials for your Shopify store.
Whether you’re a Shopify merchant, or an accountant or bookkeeper who works with Shopify merchants, you’ll understand some of the complexities that come along with Shopify bookkeeping. Between managing multiple payout sources, Shopify fees, different transaction types, third-party apps, and more, getting everything to reconcile can be a huge challenge.
By the Books: Step-by-Step Guide to Shopify and Xero Bookkeeping with A2X
Whether you’re getting your Shopify store off the ground or have tens of thousands of happy customers, you know that accurate Shopify bookkeeping is an important (sometimes frustrating) part of running a successful business. In addition to compliance and setting yourself up for tax success, it gives your business the financial visibility it needs to make smart decisions.
But, like most great meals, you need the right ingredients to get your Shopify bookkeeping in a good place every month—without hours of admin.
How Keeping Your Financial Reports Separate Leads to More Opportunity for Growth and Profitability
This article is a guest post from our friends at MerchantSpring, a leading reporting suite for ecommerce accountants, aggregators and brands.
To achieve success in ecommerce, it’s crucial to analyze the performance of individual products and capitalize on the ones that are thriving while scaling back on those that are not. While many business owners assume that accounting software is the ideal source for this information, attempting to force accounting software to serve as a complete analytics solution can actually result in a chaotic and complicated situation.
[Webinar] Which Accounting Method is Best for Ecommerce? Cash vs. Modified Cash vs. Accrual
Choosing an accounting method has a significant impact on how much visibility you have into your ecommerce business’s finances. It’s crucial to choose a method that is not only an efficient use of your time but gives you the level of insight needed to make decisions that will help your brand grow.
In this webinar, ecommerce accountant Cyndi Thomason talks about the two main methods of accounting: cash basis and accrual basis.
How These Businesses Found An Expert Ecommerce Accountant
When starting an ecommerce business, it’s understandable that accounting may not be at the forefront of your mind. With so many other tasks, it’s easy to push accounting to the bottom of the list. However, as your business expands—hiring staff, manufacturing, fulfillment, entering new markets, and dealing with different compliance obligations—having an ecommerce accounting expert can make all the difference.
Ecommerce accounting experts understand the ins and outs of your sales channels and know the best software solutions to implement.
Get Better Accounting for Shopify with A2X for Shopify
Shopify sellers have better accounting with A2X for Shopify integration In today’s technology-driven world, there is no real excuse for poor accounting. While most businesses and Shopify sellers find it a monotonous and time-consuming chore, it’s essential for tracking, managing and optimizing the growth of your business.
Say goodbye to spreadsheets and invest in user-friendly and effective accounting software. Having a robust system in place will help you manage your cash flow and taxes – simplifying your finances.
[Webinar] Income Tax Preparation for Ecommerce: How Bookkeepers and CPAs Can Work Better, Together
Bookkeepers and CPAs are two important professionals in the accounting field who often work closely together. However, there are ways that these two groups can work even better together in order to provide more efficient and accurate financial services to their clients. This webinar explores strategies for improving collaboration between bookkeepers and CPAs to better serve clients and advance careers. By understanding each profession’s unique roles and responsibilities and finding ways to support one another, bookkeepers and CPAs can work more effectively as a team.
Social Media for Ecommerce Businesses Today
“Pushing a company agenda on social media is like throwing water balloons at a porcupine.”
Erik Qualman, author and motivational speaker. It’s no secret that social media is a powerful tool for businesses.
But its power lies in engaging with the right audience in the right way, which is not an easy thing to nail. Particularly when audience interests, needs, and expectations change.
Simply posting an ad or a product is not enough.
How To Sell On Etsy: Everything You Need To Know [Guide]
Etsy is the home of the makers, the doers, the dreamers, and the creators.
Original, vintage, and hand-made products are Etsy’s trade. So naturally, it attracts crafty sellers wanting to share their talents and skills.
But Etsy is an ecommerce platform first and foremost - one with a trade value of $2 billion on the NYSE.
Selling on Etsy successfully takes more than simply signing up and listing a product.
What Is Modified Cash Basis Accounting and Is It Right for My Ecommerce Business?
This article has been written for US-based businesses. Businesses based in other locations may be required to use a specific method. If in doubt, please consult an accounting professional.
If you’re doing accounting for an ecommerce business, you’re probably familiar with cash basis and accrual basis accounting methods—but what about modified cash basis accounting?
An accounting method significantly impacts how a business is run. It affects how a business appears to be performing, how cash is managed, where investments are made, and ultimately, how much it’s worth.
How To Sell On Shopify [The Ultimate Guide]
Shopify was started in 2004.
Canadians Tobias Lütke and Scott Lake wanted to sell snowboarding equipment, but found the existing tools for ecommerce sellers too restrictive. So, they built their own.
By 2007, the company was bringing in around $8,000/month. Now, monthly revenue is closer to $20million.
As an industry leader, Shopify is constantly evolving to give customers the best experience, exceed their expectations and help sellers push boundaries.
Best Things To Sell On eBay In 2023
Any Tom, Dick or Sally can sell almost anything on eBay.
With 1.3 billion listings on the platform alone, competition is fierce, and knowing the best things to sell on eBay to make money has become an art in itself.
To be a successful eBay seller, you should have a handle on where eBay has been, where it’s going, and how this translates to buyer behavior.
Armed with this knowledge, you can make informed decisions about how you will stand out from the significant crowd this year, and reach your selling goals.
How To Sell On Amazon [The Ultimate Guide]
In 2020, it became official: Amazon is worth $1 trillion.
Sharing its name with one of the most biodiverse forests on the planet, Amazon’s seemingly infinite footprint and product offering are similarly expansive.
And Amazon.com is the tip of the iceberg.
From music streaming to healthcare, gaming, entertainment, cloud computing, and more, Amazon is so much more than an ecommerce platform - though it still holds the top spot for that, too.
Guide to Branding for Ecommerce Sellers
“Your brand is the single most important investment you can make in your business.”
Steve Forbes, Editor-in-Chief at Forbes magazine. It is estimated that there are somewhere between 12 and 24+ million ecommerce stores online.
With no “passers-by” like you might have on the street, ecommerce sellers need to do a bit of extra work catching attention and building recognition.
And branding is a fundamental way to do that.
What Are the Best Products to Sell on FBA? [2023 Guide]
Two billion.
That’s how many visitors Amazon.com recorded in February 2022.
And they’re not just window shopping, either.
According to a Feedvisor survey, 89% of buyers agree that they are more likely to purchase from Amazon than other ecommerce sites.
It’s easy to see why so many sellers set up shop there. But how do they know best products to sell on Amazon FBA?
Find out with this guide.
Introducing the New A2X Partner Program
Supporting accountants and bookkeepers at every stage of their ecommerce journey When A2X was founded in 2014, our mission was simple: build a world-class ecommerce accounting solution that provides accurate, automated revenue reconciliation for businesses selling online.
Fast forward to our first hundred customers (~2015), we realized that although A2X provided an essential ecommerce accounting solution, many were hungry for more financial advice. Even though they (now) had accurate financials for their Amazon, Shopify, and other sales channels, they needed support from expert ecommerce accountants and bookkeepers to help them make sense of it all.
The Ultimate Guide to eBay VAT
Selling globally opens your business up to numerous markets but you also become subject to meeting tax thresholds in multiple economies with different rules. That includes a big one for sellers in Europe and UK sellers using eBay: VAT.
Navigating VAT can seem intimidating, but once you understand what it is and if you need to pay it, you’ll be able to sell with confidence.
This comprehensive guide explores everything to do with eBay VAT in the UK and Europe, including what it means for eBay sellers like you, how much it is, how to pay it, and where to get started.
How to Build the Best Ecommerce Technology Stack for Your Business
Undoubtedly, a well-designed and implemented ecommerce technology stack can help a business pull ahead of its competition – from the automation of administrative tasks, access to higher quality business and financial data, and so much more. But knowing exactly when and what to invest in is more of a complex task—especially in 2023, when there are multiple products for every possible use case.
This guide will take you through crucial considerations when deciding to build a tech stack for your ecommerce business.
What Are The Best Shopify Products To Sell In 2023? [Guide]
People shop via ecommerce for just about anything, so the list of things you could sell online is practically endless.
Where do you start when it comes to finding products that will be popular for your Shopify store?
In this guide, we aren’t going to just provide you a list of promising ideas. Whilst we will cover what has been performing well, we want to help you ask the right questions and perform insightful research so that you can make the best decisions for your business in the long-term.
Making Tax Digital for Ecommerce With A2X
You’ve probably heard a lot about Making Tax Digital (MTD) as an ecommerce business. Whether you’ve already adapted your accounting or are in the process of doing so, the great news is that A2X can support you on your MTD journey—especially if you’re selling on Amazon, Shopify, BigCommerce, eBay, or Etsy. Although it previously only applied to businesses over the £85k VAT threshold, from 1 April 2022, the MTD law changed, meaning it now applies to all businesses.
Your Go-To Shopify Sales Tax Beginners Guide [Full Resource]
Since Shopify’s inception in 2004, US ecommerce sales revenue has skyrocketed from $75 billion to $959 billion in 2021. In the last decade alone, the industry has multiplied itself almost five times over.
With the advent of ecommerce, the IRS had to adjust and catch up, which they did in 2018. Gone are the days where ecommerce sellers could turn a blind eye to their sales tax obligations.
Sales tax for Shopify sellers today must be a top priority, and as Shopify is not a marketplace facilitator, unlike platforms such as Amazon or Etsy, it won’t automatically do it for you.
Introducing A2X for Automated BigCommerce Accounting
Announcing A2X’s newest integration partner: BigCommerce!
With A2X for BigCommerce, merchants and their accounting partners can save hours on their monthly bookkeeping in QuickBooks Online or Xero, all while increasing the accuracy of their books.
From sales, refunds, taxes, and more – A2X automatically organizes your BigCommerce transactions into accurate summaries that sync with your accounting to make reconciliation a breeze.
As Jennie Moore from Moore Details Bookkeeping puts it:
Introducing Assisted Setup for New A2X Accounts
Ecommerce accounting can be complex, especially when compared to traditional brick and mortar retailers. From selling large volumes of products across multiple sales channels in different states, provinces, or countries to dealing with multiple tax requirements, there’s a lot you need to account for.
That’s why A2X (and our network of expert ecommerce accounting and bookkeeping partners) exists! To automate your ecommerce accounting, save you hours a month, while providing you with the most accurate financials.
Business Exit Plans: Why You Need One and How to Create It
Wondering whether now is the right time to sell your business? Use our free assessment tool to figure out how to get the best value and whether you need to do more now to get more later. Download it free here.
“Ideally, an entrepreneur will develop an exit strategy in their initial business plan before actually going into business.”
Investopedia. Are you feeling validated by that quote or a little panicky?
Ecommerce Accounting Explained: the Best Inventory Accounting Method (With Examples)
We want to make life easy for ecommerce sellers when it comes to their accounting. Download your own free ecommerce bookkeeping checklist so that you know what regular tasks you should be completing to run a resilient, profitable business. The way you record your inventory impacts everything else in your business.
Your profits, your taxes, and the value of your business to name a few.
But there isn’t just one way to do it.
Ecommerce Accounting Explained: Accounting for Foreign Currency
This article was written by our friends at Airwallex. Check out www.airwallex.com to find out more about how their international banking services can help your ecommerce business to thrive.
So you’ve launched your ecommerce store and the orders are coming in.
It’s a great feeling.
But you’re keen to really expand. And selling overseas might be the best way to do it.
Breaking into a new market is a great way for business owners to explore their untapped growth potential.
Processes of Accounting for Ecommerce Sellers
Never miss a beat in your ecommerce accounting with our free downloadable checklist. Everything you should be doing on a regular basis to ensure your ecommerce books and business thrive, ready to go.
“Inefficient processes (44%) are [one of] the biggest causes of wasted time within an organization.”
Planview’s Powering Productivity Study. Are you one of the many people wasting almost a third of your work day battling with inefficient processes?
Are These Top 3 Accounting Mistakes Costing Your Ecommerce Business?
In a recent webinar, one of our A2X experts, Amy Crooymans, discussed three of the most common accounting mistakes made by ecommerce sellers.
These challenges can end up costing your business a lot of money and create further problems for you down the line.
We’ve summarized the key points made by Amy in the webinar, along with what you can do to avoid the mistakes mentioned.
*All quotes below are from Amy.
Ecommerce Accounting Explained: Cost of Goods Sold (COGS)
Want to feel totally confident in your bookkeeping? Our Essential Ecommerce Bookkeeping Checklist is your roadmap to bookkeeping success. Download it for free to enjoy tidy, reliable accounts from now on.
“If you want to make business decisions you need to understand your KPIs. Your margin is the most important one. It allows you to understand whether your products are making money.” Lior Zehtser, Co-founder, ConnectCPA. Margins help you figure out whether your business is profitable.
Here’s Why It’s Important to Document Your Ecommerce Bookkeeping Processes
Looking for a simple way to set your business up for growth? Documenting your processes could be the answer. Having a record of essential tasks increases productivity and consistency. And it’ll help your business to scale. This guide shows you why and how to record your processes with the help of our free bookkeeping checklist. We also hosted a webinar about how to use the checklist, joined by Juliet Aurora from AIS Solutions, Brittany Brown from LedgerGurus and Joe Carufe from KarbonHQ.
Ecommerce Accounting Explained: What is an Income Statement and Why Does It Matter?
Throughout this blog, you’ll notice mentions of our ecommerce bookkeeping checklist. It has everything you need to do all in one place. Download it for free and never forget a single step again.
How profitable is your ecommerce business?
If you’re not sure how to answer that question, you need to look at your income statement.
Don’t have one? Then make one as soon as possible so you can confidently answer when the next person asks how your online venture is going!
Ecommerce Accounting Explained: Balance Sheets
“We will reject interesting opportunities rather than over-leverage our balance sheet.”
Warren Buffet. Balance sheets are one of the three key financial statements of a company.
Without one, you could misunderstand your current financial situation and hurtle towards bankruptcy. All because your assets, liabilities, and equity are out of balance.
The good news is that balance sheets are not too difficult to understand or prepare.
We’re going to show you how to make one so you don’t have to turn down interesting business opportunities against Mr Buffett’s advice.
How Accounting Automation Can Help You Scale Your Ecommerce Business
This is a guest post from our friends at QuietLight, a world-class ecommerce business broker. Chat to them about selling your ecommerce business.
For many ecommerce entrepreneurs, accounting is the worst part of running their businesses.
Done manually, it’s a complicated, time-intensive process.
It’s also not something you can simply leave for an accountant at tax time. It requires constant input and planning. It’s about more than just managing your finances.
Ecommerce Accounting Explained: What Is A Cash Flow Forecast & Why Does It Matter?
Save time, money, and stress with our free ecommerce bookkeeping checklist. A step-by-step process that you can follow daily, weekly, monthly, and yearly, to ensure you cover all the essentials for your business. Download here.
Every business should have a cash flow forecast.
Whether you’re an ecommerce seller, an investor, or the owner of a large company, a cash flow forecast enables you to extract important information about the financial health of your operations.
Globalization: Going Global And Managing Your Accounting As An Ecommerce Business
Having a borderless business is a sign of growth and success.
But it doesn’t come without fine-tuning logistical details along the way.
There’s a myriad of areas to consider to ensure the successful expansion of your borderless business.
And with fintech platforms on the rise, globalization is transforming the way businesses move and manage their money on an international scale.
Going global is exciting, but only if your accounting is in line.
Simplify Your Ecommerce Bookkeeping With Our Free Checklist
“Most bookkeeping tasks are easy enough for anyone to do. The trick is knowing what the tasks are and when to do them.”
- Brittany Brown, CEO of Ledger Gurus
Imagine feeling completely confident in your ecommerce bookkeeping.
Best practice processes. Scalability as you grow. And knowing that it’s being done right, even when you’re not actively involved. That’s what our brand new Essential Ecommerce Bookkeeping Checklist is for. We’ve teamed up with two of North America’s leading ecommerce bookkeeping firms, Ledger Gurus and AIS Solutions, to bring you this comprehensive resource.
Finding Your Niche: How To Perform Amazon FBA Product Research [Guide]
“Focusing on a niche market makes it easier for the right customers to say, ‘This is for me.’”
Shopify. Niches are how you stand out. And on Amazon, that’s paramount. There are millions of other sellers bidding for attention. With a good niche, you avoid being a tiny fish in a mammoth pond. But what is a “niche” exactly? How do you spot one, and where do you start when it comes to Amazon product research?
Why Is A2X The Best Ecommerce Accounting Solution?
Once upon a time, ecommerce accounting was an online seller’s nightmare.
Then along came A2X.
Since its release, dozens of products have tried to mimic the way we simplify and streamline the ecommerce accounting process, yet A2X remains the gold standard worldwide.
In this article, we reveal the features that keep A2X ahead of the ecommerce accounting curve and break down how, by prioritizing accuracy and clarity, this app continues to warrant the trust of thousands of sellers across the globe.
The Best Amazon Fee Calculators
To run a sustainable, profitable business on Amazon, you need to understand its fees.
With such a huge variety of fees which are not always simple to interpret on statements, getting your head around them before you sell could make all the difference.
That’s where fee calculators come in.
Amazon fee calculators help you predict what costs you might come up against when selling your products and whether they will be profitable.
eBay Promoted Listings: Is It Worth The Investment? [Guide]
eBay’s promoted listings enable sellers to advertise inside the eBay platform.
It’s a simple way to boost exposure for your items, and eBay shows these ads to more active buyers. In their words, by using their promoted listings, you’ll “market to who matters, when it matters.”
Of course, there’s a price tag attached. As a seller, you’ll need to weigh up the benefitsof this additional exposure against the cost of advertising on eBay.
eBay vs Amazon Fees: How Do They Stack Up? [Guide]
Ecommerce sellers have a huge range of costs they need to keep up with - fees are just one of them.
But on goliath platforms like Amazon and eBay, fees can themselves take on a variety of forms, and it’s not always clear exactly what you’ve paid and why.
That is, if you aren’t well-versed in how they work, or using the best tech to track them (psst… like A2X!
Etsy vs eBay Compared: Where Should You Be Selling? [Guide]
eBay is the second most popular shopping site in the world.
But Etsy has seen up to a 7000% year-on-year increase for some of its categories.
When choosing between Etsy and eBay, it might feel like you’re picking between giants.
Well, you are.
The key to choosing your platform is to consider your product, your customers, and the goals you have for your business.
Etsy and eBay offer different opportunities - and the way you interact with them might determine just how much money you can make on each.
How To Find The Right Shopify Apps For Your Store
Applications are designed to level up your tech.
They add to, elevate and expand on the tools you’re using, giving you the ability to customize how you run your business, and how customers engage with it.
With apps for live chat, interactions, VR, AR, social media sharing, email marketing, accounting, and more, the potential is hugely exciting.
But with over 3,000 apps on Shopify’s app store, how do you choose which of these areas to invest in?
Amazon Advertising For Sellers: Everything You Need To Know
“Many a small thing has been made large by the right kind of advertising.”
Mark Twain. Digital advertising is a necessity for any Amazon seller trying to grow their business.
It’s how you position your products before your target audience, discover what they’re looking for, and convert them into customers.
And to make things simple for its sellers, Amazon has created its own advertising platform.
In this guide, we’ll teach everything you need to know about Amazon Advertising - the basics, your options within the platform, getting started, and more.
What Is Etsy Payments And How Does It Help Sellers? [Guide]
There are Etsy shops getting almost 50% more sales because of one simple differentiator.
According to an Etsy study, it’s due to offering buyers multiple payment options (compared to shops with just one payment method).
It turns out that ecommerce customers have certain expectations when it comes to buying online, and a lack of payment options is up there in the top 6 reasons people abandon carts.
Since 41% of shoppers have abandoned a transaction during checkout in the past year, it’s a good time to optimize your checkout experience to ensure you’re not losing sales.
How To Sell On Amazon UK [Complete Guide]
Almost 90% of UK shoppers use Amazon.
The platform has almost 300,000 sellers already.
In 2020, its revenue rose 51%, accounting for 5.5% of the country’s retail turnover.
There’s huge demand and significant supply, but Amazon both in the UK and abroad shows no signs of slowing down or decreasing in size.
Source: Statista.
You might be wondering whether selling on Amazon UK is worth it.
Well, it seems not only was Amazon dominating long before we’d ever heard of “COVID-19”, but that the pandemic may have added fuel to its momentous fire.
Riches In The Niches: Here's Why Accountants Should Specialize
Are you thinking about whether you should keep your accounting skills and spectrum broad, to attract as many clients as possible - or niche, to appeal to a more specialist crowd?
Well, Catching Clouds founders Scott and Patti Scharf are big fans of the niche.
Here’s why.
The Early Days of Catching Clouds Catching Clouds was founded by husband and wife duo Patti and Scott Scharf. Scott, a self-proclaimed IT geek, and Patti, a CPA, power user, and database writer.
Accounting For Shopify Gift Cards With A2X
Here at A2X, we’re always looking to make sellers’ lives as easy as possible when it comes to their accounting. Find out below how a new feature we have developed streamlines a tricky aspect of accounting for Shopify. As a Shopify seller, you might already know that the platform allows the issue of gift cards in two main ways:
Gift cards are sold to customers to use in the future, processed via checkout like any other order, and, Gift cards are issued manually as credit, perhaps for returned goods or as a goodwill gesture to help resolve a problem.
How To Keep Business Values Strong As You Grow
Many businesses start out with a mission and values.
But as they grow and acquire more people, systems, and operational changes, how do they keep that identity strong and authentic?
Browne Accounting has managed it and here, they talk us through how.
Keeping Values at the Heart of Big Business Decisions Before Covid-19 made working from home not only necessary but more widely accepted, co-founders Cameron and Mallory Browne began their remote accounting firm, Browne Accounting, while living in Southeast Asia.
How Financly Get The Biggest App Bang For Their Bucks
Are you keen to know how the experts choose which accounting apps they use?
Perhaps you have a few integrated already, and want to manage them better?
Check out how Financly’s team get the most out of their apps.
How To Achieve The Perfect App Stack Over the last seven years, sisters Connie and Teresa have built their very own virtual bookkeeping firm, Financly. With over 35 years of experience in the world of bookkeeping and accounting, they knew they wanted to begin their own journey.
The Ultimate Amazon Shipping Guide
“Amazon has transformed the small miracle of each delivery into an expectation of modern life.”
New York Times More than 50% of US shoppers turn to Amazon first when searching for new products.
80% of those are influenced by the lowest shipping prices, and 72% are looking for the fastest option.
You could also lose more than half of those due to shipping-related costs at checkout.
Amazon rewrote the rules on delivery and as a result, its shoppers have certain expectations.
Everything You Need To Know About Shopify Fees [Full Guide]
As a Shopify seller, how much are you paying in fees?
Do you know? Did a number just pop into your head?
Or are you thinking… “It’s complicated…”
You’d be right about that. But if you don’t know the details about the fees you’re paying, you’re at risk of paying too much. And paying too much affects your bottom line.
We’re here to break it all down for you so you can better understand where your money is going, and whether there might be a cheaper option.
Expanding Internationally With Bean Ninjas’ Tracey Newman
This article is a summary of a video interview conducted for the Ecommerce Back Office Facebook group. This group is a community of ecommerce business owners, sellers, accountants, and anyone else involved or interested in selling online.
It is always open to new members, and there you’ll find interviews like this one, discussions, polls, and new connections across the world. Check it out here.
In this piece, Bean Ninjas Director and ecommerce accounting specialist, Tracey Newman will be sharing a range of wisdom and insights when it comes to international expansion for ecommerce businesses.
Inventory Forecasting With StockTrim’s Dominic Sutton
This article is a summary of a video interview conducted for the Ecommerce Back Office Facebook group. This group is a community of ecommerce business owners, sellers, accountants, and anyone else involved or interested in selling online. It is always open to new members, and there you’ll find interviews like this one, discussions, polls, and new connections across the world. Check it out here.
In this article, StockTrim co-founder Dominic Sutton reveals the most valuable lessons he’s learned about inventory forecasting during his career, why it’s essential to get it right, and how ecommerce businesses can make the most of accurate forecasting systems.
Shopify and Google Analytics Guide: What You Need To Know
Ecommerce sellers don’t have the advantage of meeting their customers.
They can’t count footfall or measure reactions. They can’t see what a customer browses and what they walk past.
Analytics are a lens on your Shopify store.
You can learn about behavior, interaction, visitor numbers, and so much more - if you only know where to look. And crucially, what to do once you have.
Google Analytics is one of the best tools out there to help you.
Shopify Shipping Guide: Get It Right With These Simple Tips
“Around the world, businesses are prioritizing fulfillment to fight rising costs and meet consumer expectations.”
Shopify Future of Ecommerce Report, 2021 Shopify shipping is essential to get right, now more than ever. Nailing your shipping strategies will directly affect how many products you sell, how many customers keep coming back, and how much money your business makes annually.
There are no two ways around it.
In our Shopify Fulfilment Guide, we break down everything you need to be doing to set up for success.
The Best Amazon Seller Tools To Grow Your Business In 2021 [List]
Selling on Amazon takes time, money, and effort. Like any business, you get out what you put in.
But if you want to grow your Amazon store and increase its annual turnover, you need to find ways to simplify and streamline your sales process.
So, what’s the solution?
Amazon automation tools are here to help.
So whether you’re looking for the next app to add to your business stack, or the ultimate Amazon FBA toolkit, you’re in the right place.
How To Set Up Your Shopify Facebook Pixel [Tutorial]
Facebook advertising can be confusing, especially if you’ve never done it before.
Many features and a huge audience make for an effective marketing platform, but also a complicated one.
However, there is one feature that makes tracking and understanding the data from your ad campaigns super simple: Facebook pixel.
Here, we’ll explore the Shopify Facebook pixel integration – its benefits, how it works, how to set it up, and a few expert tips to help you make the most of your Facebook ad campaigns.
Etsy Fees UK: Understanding The Fees For UK Sellers [Guide]
If you’re an Etsy seller in the UK and want to better understand its fees, then you’re in the right place.
You won’t just be charged for listing items on Etsy.
Depending on which services you use from the platform, you could be paying numerous fees to run your business. There are ways to manage and reduce them, but you need to know exactly what to expect and how to track them to do this.
How To Grow Your Sales With Amazon Feedback Automation
Amazon is competitive.
It gains a new seller every minute, and with that kind of competition, you need to provide excellent service every time - and shout about it.
Positive reviews are a huge driving force for great performance on Amazon. Your Amazon feedback rating impacts how visible you are in search results, and whether people will try you out.
But it’s far from simple to build and maintain great feedback on Amazon.
The Ultimate Guide To Shopify Inventory Management
Bad inventory management costs retailers trillions of dollars a year.
Inventory listed but not available, available but not listed and preventable returns are all the sources of staggering losses for retailers both on and offline.
And with such intense competition, can you afford to lose the customers that find you?
In this guide to Shopify inventory management, we’ll be talking about how you can manage your stock efficiently and what you can learn to improve your systems along the way:
Etsy vs Amazon Handmade: How Do They Stack Up?
Listen up, talented artisans.
If you’re eager to share your creations with the world but unsure whether Etsy or Amazon is the right space for you, don’t go away.
Etsy is an established marketplace of similar sellers that saw a growth of 160% in its habitual buyers last year (2020).
The ecommerce giant that is Amazon has a dedicated section for handmade products, giving sellers like you access to its unparalleled visitor numbers.
Shopify Fulfillment Guide: Everything You Need To Know
“Immediacy, convenience, and speed are top consumer demands. This is the new normal.”
Shopify’s Future of Ecommerce Report, 2021. More than 70% of consumers indicate convenience and free shipping are their top reasons to shop online. With such a large majority of your customers depending on you for these things, your Shopify fulfillment method has to be top-notch. If it’s not, you could be losing out on a huge chunk of your audience.
A Brief Guide to VAT Obligations for Amazon Merchants Selling in Europe
The VAT rules changed for ecommerce sellers in June/July 2021. If you’re an Amazon seller based in or selling into Europe, here’s what you need to know about VAT.
In this brief guide to your Amazon VAT obligations:
Table of Contents What is VAT? How Much is VAT and Who do I Pay? The 2021 Ecommerce VAT Package The Best Warehousing and Fulfilment Services Keep Track of Your Taxes with A2X Also on the blog Learn how to manage your Amazon accounting the right way Amazon accounting can be complex.
Shopify VAT: How To Do It Right [Guide]
Updates: Changes were made to VAT for Shopify sellers in the UK and EU from July 2021 and again in April 2022. Any seller with business in the EU is likely to be required to collect VAT, with some exceptions. They can now do this for multiple countries all in one place. For the UK, though thresholds haven’t changed, import requirements have, and as a non-EU member state, sellers will need a separate VAT number to remit tax there.
How To Create An Amazon Affiliate Store [Ultimate Guide]
If you’re interested in earning commission through Amazon affiliate links, then this guide is for you.
81% of brands now rely on affiliate marketing to promote their business.
And 40% of US merchants report that affiliate programs are their top customer acquisition channel.
So where better to begin (or continue) your affiliate marketing journey than with the ecommerce monolith that is Amazon.com.
But you have to be approved to do it, and there is more than one way to get paid to send people to Amazon.
Expand Your Business Seamlessly With A2X Multi-Channel Plans
Are you an ecommerce seller (or accountant) running more than one sales channel and A2X account? Or perhaps you’re considering expanding and will need to do this soon?
A2X offers multi-channel plans so that you can integrate and manage your accounts seamlessly across your business. This guide will take you through your plan options and how to set this up. Table of Contents A2X Multi-Channel Plans How to Connect Your A2X Accounts with a Multi Plan For any ecommerce seller on multiple platforms For premium Amazon and Shopify sellers using the same platform Accounting for Multiple Channels A2X Multi-Channel Plans The plan levels are based on your combined sales volume per month.
Amazon FBA vs Shopify: Which One Is Best For You? [Guide]
Amazon and Shopify.
One is the most popular ecommerce retailer in the world, worth over $1 trillion.
The other powers some of the biggest commercial names on the internet, including Tesla, KKW Beauty, Victoria Beckham, RedBull, Kylie Cosmetics, AllBirds, and more.
But there are perhaps more differences between Amazon and Shopify than there are similarities.
Amazon is a marketplace facilitator. Shopify is an ecommerce platform.
The strategies that sellers need to adopt to be successful on these sites vary greatly, and the trade-offs might just sway you towards one over the other.
How To Create A Shopify Pinterest Marketing Strategy
Pinterest is the digitized version of the corkboard above your desk.
It’s that vision board that holds all the ideas and inspiration you want to save for later. Today, that often involves wishlist products, and as such, Pinterest has become a marketing tool for ecommerce sellers.
Forget judging a book by its cover. In 2021, people are judging books by their pins.
So let us share with you a template for getting your Shopify store on Pinterest, and everything you need to know about rich pins, buyable pins for Shopify, how to use Pinterest for business in 2021, and how you can sell on Shopify and Pinterest without a website.
Amazon Handmade Fees: How Much Does It Cost To Sell?
Amazon gets around 200 million unique visitors every month.
Amazon Handmade gives crafty sellers and makers the chance to get their original products in front of this same audience, and it comes at a slightly different price.
This article will explain all you need to know about Amazon Handmade fees, other requirements for selling on Amazon Handmade, and how to simplify the fee process.
In this blog about Amazon Handmade fees:
eBay Fee Calculators [One Stop Resource]
Calculating your eBay fees ahead of time makes good business sense.
After all, as a cost to your business, you want to make sure you aren’t spending a cent more than you have to.
In this blog, we’ll take you through the eBay fee structure and where to find more information, along with the best eBay fee calculators on the internet so that you can plan with confidence.
In this article on eBay fee calculators:
What Are The Best Things To Sell On Etsy To Make Money?
Unlike other marketplace facilitators, Etsy has a niche.
And the success of the top-selling products on Etsy may have just as much to do with the sellers and how they operate as what the items are themselves.
Best-selling items change all the time. So instead of giving you a fish, we are going to teach you to fish.
This guide will explore who sells on Etsy, who buys on Etsy and why this should dictate your strategy.
Etsy Advertising Guide: Grow With Promoted Listings & Ads
Spending money advertising your Etsy store might feel a bit daunting.
How much should you spend? Is it worth it? Will you see any return, and how quickly?
In this guide, we’ll explore exactly what your Etsy advertising options are, both on and off the site.
We’ll also cover the free things you can do to boost sales, and ensure that you’ve maximized every opportunity to succeed on Etsy - paid and unpaid.
The "Hidden" Costs of Running An Ecommerce Business
This is a guest post from our friends at MerchantSpring, a tool for managing your ecommerce business.
Whether you run a small start-up or a major enterprise, there’s no question that your online presence is a crucial investment for your business.
The trick is knowing where to spend your money for the best results with the greatest return. In this blog, we’ll be looking at the expected and unexpected costs that come with ecommerce.
Etsy SEO Guide: Everything You Need To Know [Ultimate Guide]
Etsy SEO is worth your time.
Still one of the top digital marketing strategies for the greatest return, SEO for Etsy can be broken down into a few key areas for relatively straightforward application.
The only challenging thing about SEO is that it’s a journey, not a destination. You’re never really done with SEO, whether on Etsy or elsewhere.
Etsy’s SEO ranking factors are no secret. The platform breaks down exactly what it’s looking for and here, we’ll explore how you can maximize your organic traffic potential, factor by factor.
Shopify vs Etsy: Which Platform Should You Sell On?
What do a pair of snowboarding, outdoor enthusiasts, and an urban apartment-dwelling creative have in common?
All were entrepreneurial founders of two of the most popular and successful ecommerce businesses in the world to date: Shopify and Etsy.
They built the tools to enable imaginative sellers like you to bring your products to the world.
But which is right for your business?
If you sell craft, handmade or vintage items (which meets Etsy’s criteria), and you’re unsure whether to kick off with Etsy marketplace or go solo with Shopify, this guide is for you.
eBay Listing Fees Guide
If you’re looking to turn a nice profit in the ever-expanding realm of ecommerce, or to expand your business, eBay could be a great option for you.
You can be up and running in minutes and don’t need to be a registered business yet - perfect for a seller dipping their toes into ecommerce.
But access to almost 200 million active buyers doesn’t come free. And listing fees are just the beginning.
eBay Final Value Fees: What You Need To Know [Guide]
Today, there are around 187 million active buyers on eBay.
Getting access to that kind of traffic comes at a price, and that price is eBay seller fees.
But seller fees on eBay, like with many of the ecommerce platforms, aren’t always straightforward.
Sure you’ve got your standard listing fee, but there are circumstantial fees that come into play only in certain scenarios, and those are what sellers need to get their heads around.
Sage eBay Integration: How to Set it Up
Integrating eBay with Sage cloud accounting software is a great way to save time on bookkeeping and get accurate business numbers.
If you’re an eBay seller and you’re doing your own bookkeeping, or if you’re an accountant or bookkeeper who works with eBay sellers, then you’ll understand some of the complexities that come along with eBay bookkeeping.
Getting eBay payouts to reconcile with bank deposits, understanding eBay fees and transactions, managing payouts that span across two months… The list of challenges goes on.
Why Multi-Channel Ecommerce Sellers Need A2X
Selling on multiple sales channels should mean more sales, not more admin.
Here’s what A2X, the leading ecommerce accounting software, can do for your business. What’s Challenging About Ecommerce Accounting? Ecommerce is not like brick-and-mortar, where the majority of transactions occur directly through the bank.
With ecommerce, transactions are occurring through the sales channel and businesses receive lump deposits net of fees. When you start selling on multiple sales channels, these difficulties compound.
Why Speed is Essential in Your Business' Financial Reporting
This is a guest post from our friends at Bookkeeper360, experts in tech-driven accounting solutions for business owners that want more time back to focus on their business.
When you boil down financial reporting, you find two vital elements for your business—accuracy and speed.
If you’re an owner or financial professional at an ecommerce organization, financial accuracy is a well-understood aspect of your business. That said, speed is just as important.
A Tour Of Amazon Seller Central
For Amazon sellers, Seller Central is mission control.
Everything you need to run your business is there in one centralized location, but some aspects have greater tools and resources available to help you than others.
That’s what we’re going to explore here.
In this blog, we’ll take you through the elements of your Amazon Seller Central account and how you can use them to your advantage. Plus, we’ll mention what you get with different subscription plans and where to go for more information.
How to Collect VAT Through Amazon UK Seller Central
This guide was correct at the time it was written. Please refer to the official tax authority webpages for the most up-to-date information, and your accountant for tailored advice.
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.
Therefore, it’s imperative to know something about the sales tax applicable to your Amazon business – right from the start.
How To Create A Shopify Shipping Policy [Tutorial + Template]
Get your Shopify data into QuickBooks Online or Xero with A2X. Start a free trial today!
Shopify Shipping Policy FAQ Here you can find some answers to the top questions on Shopify shipping policies. If you require further information, visit the Shopify Help Center.
Do you need a shipping policy? No, you are not legally required to outline your shipping policies on your Shopify store. However, a shipping policy builds trust between your store and your customers, which may increase your store’s conversion rate and can reduce the time you spend responding to common queries.
How A2X handles VAT in all European Amazon marketplaces
Anyone who runs an online store will know that the beauty of ecommerce is its capabilities are limitless.
It’s a fantastic way for retail stores of any type and size to reach a new community of customers – enabling you to expand your sales worldwide without the extensive costs of setting up a brick-and-mortar store.
Ecommerce has leveled the playing field, making it possible for small businesses to compete with corporate giants on an international stage.
Everything You Need To Know About Amazon's FBA Service
Today’s consumers are all about instant gratification, and that certainly translates to online shopping orders.
In fact, 80% of shoppers want a same-day delivery option, 56% of 18-34 year olds expect it, and around 61% are prepared to pay more for it.
Enter: Amazon FBA.
With a reputation for innovation and hitting the nail on the head when it comes to solving customer pain points in a timely (and perhaps even anticipatory) manner, Amazon delivers yet again.
How Does Accounting Compare Across Ecommerce Platforms Today? An A2X x Insightful Accountant Webinar
On 26th May 2021, we took part in a webinar with Insightful Accountant to discuss how ecommerce sellers need different kinds of accounting support based on their selling platform. We explored what’s changed and still changing, the key accounting challenges for each type of seller, and trends emerging within the industry. Armed with these insights, ecommerce accountants can anticipate the changing needs of their clients this year and better serve them in their journeys.
Good Etsy Shop Names And How To Find Yours
As an Etsy seller, creativity comes naturally to you. But if coming up with a good Etsy shop name has thrown you off your game, you wouldn’t be the first.
Equally problematic is if you’ve already come up with your preferred store name, but tragedy strikes, and your name has been used by another Etsy shop.
Not knowing where to begin is expected, but we’ve got you covered.
Instead of heading back to the drawing board without a lick of inspiration, use this guide to ignite your creativity.
Amazon Seller Central and Sage Integration: How to Set it Up
Integrating Amazon Seller Central with Sage is a great idea, especially if you want to spend less time on bookkeeping, and get more accurate numbers.
Any Amazon seller (or accountant/bookkeeper who works with Amazon sellers) will be all too familiar with the process of trying to reconcile an Amazon payout. You can see the lump sum settlement in your bank feed in Sage, but trying to reconcile it with the Amazon sales, fees, taxes, and other transactions can be a huge headache.
Everything You Need to Know About Migrating to A2X for Shopify from Bold (and Why You Should)
As connector apps, A2X and Bold are important parts of optimized ecommerce accounting automation.
These apps ensure that your Shopify data is calculated accurately and organized. But the way they each do this and the resulting outcomes are quite different.
One of them has a few additional features to offer - features that can transform the way you do business. And you might be surprised to hear that switching is not only easy, but books can be backdated, so it’s almost like the migration never took place at all.
How To Set Up An Etsy Seller Account [Tutorial]
So you’re thinking about joining the Etsy family? Exciting!
Etsy is the platform for creatives, where imagination comes to life and buyers love personal touches. It’s all about the hand-made, human feel, but it does need to start with some techy steps first.
Setting up your Etsy seller account is very easy, and this article will show you exactly how (as well as the crucial next step).
In this article on how to set up an Etsy seller account:
Etsy Business Plan Template: Prepare For Selling On Etsy
Are you considering turning your hobby into a business using the Etsy marketplace?
Well, you’ll be joining a platform that gets around 81.9 million buyers these days looking for handmade goods just like yours.
Before you dive in though, we invite you to lower the tools for a moment and funnel that creative flow into a top-notch Etsy business plan. It’s crucial to understand exactly what your business does, its identity and how it’s going to function so that when it comes to making costly decisions, you have a road map to guide you.
Amazon Automation Guide: How To Simplify Your Business
Automation is the process of letting the technology we’ve created do the leg work for us.
Machines can do so much that we don’t need to do ourselves, and often better than us. By automating those tasks, we get to preserve our time for the things human beings can add value to with experience, intuition, and nuance—the strategy part of the business.
But like most things today, the options of technology out there can be a little overwhelming.
Etsy Integration Guide: How To Simplify Your Etsy Business
Having apps that automate parts of your to-do list is great, but if they don’t talk to each other, you still need to mediate.
With the plethora of app options out there today, developers have already solved this problem for us and continually update and upgrade the way our tech solutions communicate.
We have become masters of automation, and Etsy sellers are just as much invited to the party as any other seller.
What Are Amazon Referral Fees? [Guide + Full List]
Confused by Amazon fees? We don’t blame you.
Amazon has rather a few to get your head around - subscription and listing fees are only the beginning. But it’s crucial for your bottom line that you understand which apply to you and why.
In this article, we’ll be exploring referral fees, specifically: What they are, how much they are and how to stay on top of them.
In this guide on Amazon’s referral fees:
Everything You Need To Know About Shopify Payments [Guide]
Based on a collection of studies, around 70% of customers will leave a site even after adding an item to their shopping cart.
There are numerous reasons for this, but a common one is a complicated or drawn-out checkout process.
Integrated payment solutions are one answer that ecommerce platforms have come up with. Shoppers save their details once so that purchase journeys simply consist of a Buy It Now button.
eBay Selling Guide: Strategies For Success
So you’re ready to sell on eBay, but you want to make sure you do it right - and actually make a profit? Strap in! eBay gives everyone from merchants to ecommerce hobbyists an easy-to-use platform to make sales, but it’s not without competition. With almost 200 million buyers and 1.6 billion listings, sellers need to maintain a competitive edge in order to succeed. We’ve been busy looking closely at eBay, and we’ve written a number of guides and articles on how to use the platform successfully.
Etsy Sage Integration: How to Set it Up
Integrating Etsy with Sage is a great idea if you’re looking to save time on bookkeeping and get more accurate financials.
Whether you’re a quickly growing Etsy seller trying to keep up with the books, or an accountant or bookkeeper who works with Etsy sellers, you’ll likely understand that Etsy bookkeeping can be complicated.
A big reason why Etsy bookkeeping is complicated is that Etsy deposits aren’t just sales. They’re actually a combination of sales, fees, refunds, and other transactions – and being able to accurately code them in Sage is important.
How To Find The Right Shopify Theme For Your Store [Guide]
The theme of your Shopify store dictates almost everything.
What your customers see, how they interact with your brand, what media and add-ons you can include - the list goes on.
It’s important to think about what you’ll need from your theme before you go diving in and get carried away by the cool color palettes and exciting plug-ins.
Plus, with a little planning, you’ll be able to see whether a freebie will cover your bases or if a paid option is worth your time and money.
Etsy QuickBooks Integration: How to Set it Up
Integrating Etsy and QuickBooks Online is a great idea – especially if you’re looking to spend less time on accounting and bookkeeping, and you want to get more accurate numbers.
Whether you’re a quickly growing Etsy seller, or an accountant or bookkeeper who works with Etsy sellers, then you’ll understand that bookkeeping for Etsy isn’t as straightforward as it might seem.
Etsy deposits are made up of more than just sales.
Etsy Xero Integration: How to Set it Up
Integrating Etsy and Xero is a great way to make accounting and bookkeeping for an Etsy store more accurate and efficient.
Etsy sellers and accountants and bookkeepers who work with Etsy sellers will all understand that managing Etsy financials can get complicated.
One of the factors that makes it complicated is the fact that Etsy deposits aren’t entirely made up of sales – so you can’t code them to a ‘Sales’ account and call it a day.
How To Hire And Vet The Right Bookkeeper For Your FBA Business
This is a guest post from our friends at specialist ecommerce accounting firm Bean Ninjas.
When you’re first starting out, you might be tempted to do your own bookkeeping and accounting.
However, as your business grows, it is rarely a good idea to keep DIY’ing it. Every minute that you are spending on bookkeeping is time you aren’t spending on growing or running your business.
If this resonates with you, then read on to learn how to hire and vet the right bookkeeper for your FBA business.
eBay Growth Guide: How To Increase eBay Sales
There’s money to be made on eBay.
In 2020, eBay sales revenue grew 22% - and that’s not the only thing that grew.
With more sellers joining eBay every day and approximately seven million in the US alone, competition is rife. Growing on the platform takes work.
But that’s why you’re here - to find out what your options are and how to leverage every available tool at your disposal.
How To Sell To Amazon Directly [Guide]
When most people think about doing business with Amazon, it’s in the format of using the platform to sell to customers. But this isn’t the only option.
You can sell to Amazon directly, as part of their vendor program.
Becoming an Amazon vendor takes away the customer service or brand management aspect of your business, replacing it with a focus on distribution and fulfilment. You are the backend, not the front.
Shopify vs eBay: Where Should You Sell? [Ultimate Guide]
Thinking of selling online, but unsure of which platform to pick?
While Shopify and eBay are both popular ecommerce platforms, this is where the similarity ends. They are, in fact, very different, and they offer different experiences to both buyers and sellers.
So, what do these experiences look like and how should you go about picking one? In this article, we’ll find out.
In this Shopify vs. eBay guide:
Amazon Pay Guide: Everything You Need To Know
Online shoppers like choice. And they prefer businesses that give them choice.
In fact, Business Insider reports that limited payment options could account for a quarter of abandoned shopping carts in the US.
But with no shortage of payment gateway options for ecommerce sellers, how should they pick which ones to offer, and do buyers have a resounding preference? Is Amazon Pay the obvious choice for Amazon sellers, for example, or are there better alternatives?
15 Actionable Shopify Tips To Grow Your Store in 2021
At their Reunite 2020 event, Shopify announced some pretty cool updates for 2021.
As one of the leading ecommerce tools, Shopify is constantly evolving and expanding its software, adding new apps and integrations to help its merchants thrive.
And with over 600,000 sellers on the platform, if you’re one of them, you’ll want to know as many Shopify tips and tricks as early as possible to come out ahead.
Shopify Sage Integration: How To Set It Up
Setting up an integration between Shopify and Sage Cloud Accounting Software is a great step to improve accounting and bookkeeping accuracy and efficiency.
If you’re selling on Shopify – or, if you’re an accountant or bookkeeper who works with Shopify merchants – then you know the complexities that come along with Shopify accounting and bookkeeping.
Getting Shopify data to match up with transaction lines with Sage, split-month entries, and dealing with third-party apps are just a few hurdles that can all take a ton of time and cause massive headaches.
How To Sell On eBay For Beginners [The Definitive Guide]
… In 2022, eBay turned 27 years old.
A lot has happened in those 27 years. With technological advances taking trillions of dollars off the streets and into the digital space, ecommerce has exploded. These days, the ability to buy online has never been more essential.
With a wealth of tools now available to beginners, it’s difficult to know where to start and how to get the best out of the eBay platform.
Amazon Tax Canada: What You Need To Know
Canada’s sales tax is a bit of a mutt.
It’s not quite the same breed as the US, or as Europe, but almost a cross between the two.
Canada’s sales tax is called GST (goods and services tax), and is a value-added tax, meaning it is added onto the value of an item at each stage in its manufacturing journey.
Although the GST rate is consistent across Canada, the story barely begins there.
Amazon Income Tax Guide: What You Need to Know
Most Amazon sellers bring in around $1000-5000/month in revenue, with around 6% making upwards of $250,000.
Even after the costs and fees hidden behind those figures, that’s some substantial income.
“Income” doesn’t just mean “salary”. A one-off garage sale worth $200 is technically income. It is simply money received, usually in exchange for goods and/or services. Selling on Amazon very much qualifies as an income source.
For this reason, Amazon sellers could be liable to pay tax on their Amazon income.
How To Save Time With eBay Automation [Sellers Guide]
Time is money, and when you’re a one-(wo)man band running your own eBay store, you need to take control over both as early in the game as possible.
This is where eBay automation comes in.
Humans are typically not good at lots of complicated, repetitive tasks - but software is designed for it. Best of all, it’s designed to handle these tasks at high volumes, scaling with you on your journey.
34 eBay Tips To Help You Sell More Products [Guide]
The internet is full of helpful eBay tips for sellers, so in this guide, we bring the best of them together in one place.
Our eBay selling tips range from general dos and don’ts, to the nitty gritty details for the most ambitious, dedicated seller.
Here’s what we’ll cover, at a glance:
Beginner tips for eBay seller success: Areas to focus on at the start Automation and accounting for beginners eBay seller tips and tricks to sell more: Store tips Listing and fees tips Description and pricing tips Fulfilment and supplier tips SEO tips Tips on what not to do on eBay Selling on eBay: Tips for Beginners If you are new to selling on eBay, use our tips below but focus on the following areas first.
eBay Shipping Fees: Everything You Need To Know [Guide]
Successful ecommerce businesses rely on efficient shipping processes.
Without them, selling online is neither sustainable nor scalable. With many online retailers offering same-day or even 2-hour delivery options, consumers now expect their purchases to arrive quicker than ever.
Being smart about your shipping is crucial to striking the right balance between good customer experience and realistic fulfilment on your end. The question is, can you both afford and manage the options you are offering?
eBay Global Shipping Program: Everything You Need To Know
The eBay Global Shipping Program makes selling overseas a breeze.
By taking care of packages on the behalf of sellers and sending them across the world, eBay opens up its entire global marketplace for trade.
What’s in it for sellers? Millions more customers without the hassle of customs and imports paperwork. And for buyers? Access to more products with transparent shipping fees and processes.
So, how does it work exactly? In this guide, you’ll find everything you need to know about eBay’s Global Shipping Program and how to get started.
How To Open An eBay Store [Step-By-Step Guide]
Opening an eBay store is an excellent portal into the world of ecommerce. As one of the simplest, no-fuss selling platforms available, eBay is full of possibilities, and open to anyone.
eBay has been around for a good while - since 1995, to be precise - and has positioned itself as a ‘selling partner’ in the ecommerce space. The platform is designed for sellers, whether you’re selling unwanted items, or scaling a full-time ecommerce business.
Announcing the Launch of A2X for Sage
Sage began life as a startup in 1981. Founded by David Goldman to automate the accounts of his own business, Sage now has 13,000 employees worldwide and millions of customers across 23 countries. And, in 2018, Sage took their offering to the cloud. Today, we at A2X are excited to announce that Sage Business Cloud Accounting customers will now be able to integrate with our software for seamless ecommerce accounting.
The Ultimate Guide To Amazon Sales Tax [Full Resource]
In 2022, the US is estimated to have spent over $875 billion on retail ecommerce sales. By the end of 2025, this figure is expected to surpass $1.33 trillion.
When Amazon was founded, the internet was relatively new and sales tax was something cemented in bricks and mortar. People shopped on streets, not online, so a physical address was enough for states to keep tabs on businesses.
Today, an ecommerce business might have no address or multiple.
eBay Business Plan Template [Highly Actionable]
There are over 25 million sellers on eBay.
No matter what you sell, with competition like that, you need to have a plan. Fortunately, with around 182 million users, there’s plenty of opportunity to grow and thrive.
The purpose of an eBay business plan is to articulate your idea and figure out how to make it feasible.
To do this, you will need to explore the different aspects of your business which define what it is and how it will operate.
How To Find An Amazon Accountant Or Bookkeeper [Full Guide]
Accurate Amazon accounting is a must.
The best thing you can do for your ecommerce business is to build an accounting framework that scales and nurtures your success. What does this look like?
Great accounting software and the support of a specialist Amazon accountant.
Whether your accountant just helps you get set up or supports you full time, their help and advice can be invaluable to the growth of your Amazon store.
eBay SEO Guide: Tips, Tools & Strategies for Success
As an eBay seller, you’ve got some competition.
With 182 million users and over a billion listings, you need to leverage every free tool at your disposal in the quest for that lucrative, competitive edge.
Search Engine Optimization (SEO) isn’t just for Google. A free driver of organic traffic, eBay SEO just might be your new marketing best friend - it’s certainly not one to ignore.
So, how does SEO for eBay work, exactly?
What We Learned Analysing 1000 Shopify Payment Gateways
Shopify offers payment gateway options for over 100 providers across the world.
Why?
So that you can provide your customers with the options most likely to suit them.
A2X supports thousands of Shopify sellers with their accounting. No matter the payment gateway used, A2X interprets bank deposits and ensures that sellers have all the information they need to be able to manage their finances properly.
With access to this kind of data, we can help sellers determine which gateways are proving most popular among our subscribers.
Accounting for Amazon Business Loans [How to]
Updated January 2021.
Merchants who sell through Amazon can now secure dedicated ecommerce loans, but what does this look like in the books?
In this article, we’ll explain eligibility, Amazon lending transactions, and how to record Amazon loan repayments.
Table of Contents Lending for Ecommerce: Amazon Loan or Bank Loan? Eligibility for Amazon Lending What are Amazon Lending transactions? How do Amazon Loan repayments work? Accounting for Amazon Lending How it works Accounting mistakes Asset and liability transactions A2X for Amazon Lending Also on the blog Learn how to manage your Amazon accounting the right way Amazon accounting can be complex.
How to Reconcile Your Amazon Seller Statement
Updated December 2020.
If you’ve ever reviewed an A2X settlement summary, you’ll know Amazon has some very creative ways to charge Amazon sellers money.
But what do ShippingChargeback, GiftwrapChargeback, and SalesTaxServiceFee really mean, and how do you reconcile them to the Amazon Reports > Payments section of Seller Central?
To help this make sense, we’re going to walk you through reconciling your Amazon seller statement. We’ll use an example that matches low-level transactions in an Amazon settlement report to the corresponding high-level transactions Amazon considers in their report summary.
How A2X Handles VAT in All European Ecommerce Marketplaces
Anyone who runs an online store will know that the beauty of ecommerce is that its capabilities are limitless.
It’s a fantastic way for retail stores of any type and size to reach a new community of customers – enabling you to expand your sales worldwide without the extensive costs of setting up a brick-and-mortar store.
Ecommerce has levelled the playing field, making it possible for small businesses to compete with corporate giants on an international stage.
Do Your Financials Tell a Story That Sells?
Your accounts should offer insight into your business.
They should show successes, and they should show opportunities to help to pinpoint trouble areas. Having complete and accurate financials means that you, as an ecommerce seller, have the information you need to make better, smarter decisions about the future of your business. You know the true cost of sales, where you’re making and losing money, and where you could be investing more.
eBay Xero Integration: How to Set it Up
Setting up an integration between eBay and Xero is a great way to improve accounting and bookkeeping accuracy and efficiency.
If you’re an eBay seller who’s trying to keep your books up to date, or an accountant or bookkeeper who works with eBay sellers, then you’ll understand some of the complexities that come along with getting eBay transactions to reconcile with payouts in Xero.
The good news is that integrating eBay and Xero with the right tool can eliminate many of the headaches that come along with eBay bookkeeping.
Future-Proofing Your Amazon Business for Sale
Like all business owners, Amazon marketplace merchants may one day weigh up the prospect of selling their business. And what will prospective buyers want to see? Accurate accounts demonstrating a healthy business.
Even if you’re not considering this anytime soon, it’s sensible to behave as if this will be your goal one day. If you do this from the beginning, not only will your business operations be organized and transparent for you, but it will be much easier to go into the sales process prepared for success.
Accounting and Sales Tax: What do Amazon Sellers Need to Know?
Please note: ecommerce sales tax is still evolving and changing. These guides are correct at the time they are written but please consult official government pages or accounting professionals for the most up-to-date information applicable to you.
The Supreme Court ruled in favor of South Dakota, granting the state authority to impose sales tax obligations on out-of-state transactions. Online sellers will have a new set of obligations and challenges ahead of them, while states could potentially gain billions in revenue.
Amazon Accounting Meetup Summary: Atlanta, Georgia - June 6th
On June 6th, 2018, we hosted a meet-up for Amazon sellers, accountants, and people involved in the ecommerce space. This meet-up was held after the first full day of Xerocon in Atlanta, Georgia.
We were privileged to have Brandon Wasser and Cat Fogarty present as guest speakers.
Brandon Wasser is a Senior Account Manager at Bookkeeper360. Through this role, he has learned a great deal about emerging technologies and trends that are shaping the way we shop, and how businesses need to evolve in order to thrive in an ever-changing environment.
A2X, Amazon, and the Future of Accounting with HPC
How HPC accounting uses A2X to help solve its clients’ problems HPC Accounting is something of a trendsetter among US accounting firms.
The business started in 2011, and unlike most firms at the time, focused on providing value-based services, rather than charging clients hourly rates.
Since 2016, they have abandoned time tracking altogether, preferring to give their clients personalized service and in-depth advice.
As Accounting Manager Catherine Fogarty explains, HPC was also an early American adopter of Xero.
The Best Accounting Software for eBay Sellers
The balance in your bank account is rising, so your eBay store must be thriving… right?
The only way to actually tell how your eBay store (or, any business venture) is performing is to practice accurate accounting.
Accurate accounting and bookkeeping will help you get critical insight into your business’s cash flow, build and review your P&L and Balance Sheet, and ultimately understand your profitability and help you make better business decisions.
Amazon to Turn Over Third-Party Seller Data to California Department of Tax and Fee Administration
This post is a guest post from Michael Fleming founder of Michael J Fleming & Associates.
This article is about the changing tax obligations of ecommerce sellers in the US and was correct at the time it was written. For more detailed information (no matter your platform) about how sales tax affects you, and where to get the most up-to-date advice, check out our blog here.
On the afternoon of October 23 2018 Amazon stated that it had received a “valid and binding legal demand” from the state of California to turn over third-party seller information.
12 Days of Christmas with A2X and Honua Bars
We consider ourselves very lucky at A2X, because we get to work with some pretty awesome brands. The companies that we work with have been started by a diverse range of passionate business owners throughout the world, all with big ideas and plenty of determination. They inspire us all the time and so, this Christmas, we wanted to share some of that with you. In this 12 Days of Christmas series, we will be spotlighting a few of these brands and talking to them about their story, top ecommerce tips, and apps they like to use to help with running their businesses.
A2X Welcomes First UK Partner, AVASK Accounting and Business Consultants
[Announcement made August 2017].
We are delighted to announce the introduction of our first UK partner AVASK Accounting & Business Consultants.
AVASK and A2X have been working together since 2015. A2X has been essential in streamlining AVASK’s services, allowing their tax advisors and accountants to automatically fetch their clients’ latest Amazon settlement transactions and post summarised transactions directly to their accounting system.
“A2X is an essential part of our day-to-day operations.
Amazon and Shopify Accounting with QuickBooks Enterprise
A2X is helping thousands of Amazon sellers and Shopify merchants across the world automate their accounting.
In these two guides, we’ll show you how users of the QuickBooks Desktop and QuickBooks Enterprise products can use A2X to account for their Amazon sales and/or their Shopify sales:
Using A2X for Amazon with QuickBooks Desktop and QuickBooks Enterprise
Using A2X for Shopify with QuickBooks Desktop and QuickBooks Enterprise
What is A2X for Amazon?
How to Integrate Walmart and Xero
Integrating Walmart Seller Center with Xero is a great way to increase efficiency and accuracy for Walmart seller bookkeeping.
Walmart marketplace sellers – and accountants and bookkeepers who work with Walmart sellers – will understand that bookkeeping for Walmart can be complex.
One key challenge that makes Walmart bookkeeping complicated is that Walmart settlements are not just made up of sales – they’re actually a combination of sales, fees, refunds, and other transactions.
How to Integrate Walmart Seller Center with QuickBooks Online
Integrating Walmart Seller Center with QuickBooks Online is a great way to manage Walmart seller bookkeeping efficiently and accurately.
Walmart marketplace sellers and accountants and bookkeepers who work with Walmart sellers will understand that bookkeeping for Walmart can be complicated due to the fact that Walmart settlements are not just made up of sales – they’re actually a combination of sales, fees, refunds, and other transactions.
Simply coding a Walmart settlement to a ‘Sales’ account is incorrect, and can lead to a number of issues.
Scaling Your Walmart Seller Business: Walmart Marketplace Knowledge Base
As a business owner in the ecommerce sector, you’ll be well aware of the benefits of online market platforms. Rather than deal with the expense and the time-consuming process of building your own ecommerce platform, it makes sense to leverage ones that are already thriving.
You might already be an aficionado on Amazon and Shopify, so perhaps it’s time to diversify and join the Walmart Marketplace. Or maybe you’re just starting out as an online entrepreneur, and want to plan ahead.
What Happens When You Owe Amazon Money? Negative Balance Invoices in Xero
So you owe money to Amazon, and you know this because there’s a negative balance on your Amazon seller account.
What happens if you owe amazon money, and how do you correct it?
The good news is that an Amazon seller negative balance is usually nothing to worry about.
Table of Contents What is an Amazon seller negative balance? How to locate negative settlements in Xero How to balance your accounts by reconciling a single Amazon payment [four steps] Step 1: Find Amazon deposit Step 2: Find & match Step 3: View invoices and bills Step 4: Combine and balance Also on the blog Learn how to manage your Amazon accounting the right way Amazon accounting can be complex.
eBay Income Tax Guide [the Definitive Resource]
For online sellers, eBay is a little different from other ecommerce platforms. You could use eBay to get rid of old stuff around the house here and there, like a garage sale. Or, you could use it to run a multi-million dollar, profitable business.
With such scope for revenue, eBay sellers may be confused as to where they land on the tax eligibility scale.
Do they need to pay, and if so, how much and to whom?
eBay Sales Tax: Everything You Need to Know [Guide]
Ah, sales tax. The ultimate Pandora’s box has come for ecommerce sellers.
In 2019, US online retail sales of physical goods reached an astronomical $343 billion. By 2024, they are forecast to reach $476 billion.
Physical presence in a state used to be a parameter for tax, but times have changed. With billions of dollars floating in the digital space, governments everywhere, not just in the US, have needed to change tack.
eBay Managed Payments: Everything You Need to Know
Since its inception in 1995 (just one year after Amazon), eBay has capitalized on the obsession we have for both online shopping and selling. But for those who run a business buying and selling items on eBay, reconciling accounts can get messy at the best of times.
For eBay, all payments and purchases were previously routed via Paypal, a subsidiary of eBay. Reconciling all transactions across the two platforms was time-consuming, causing inaccuracies, challenges with dispute resolutions, and delays in funds.
12 Day of Christmas with A2X and EmuJoy
If there’s any year worth celebrating early, it is 2020!
Here at A2X, we get to work with ecommerce businesses (and their bookkeepers) from such a diverse range of backgrounds. While our conversations are usually around helping these people to automate their accounting, we are often amazed by the ideas we hear about and the passion behind them. So, this Christmas, we wanted to share a little bit of that magic with you.
Understanding Amazon FBA Seller Fees
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.
Table of Contents What is FBA? Why You Should Consider FBA How Does Amazon FBA Work?
Introducing A2X for eBay
It all started with a broken laser pointer.
In 1995, Pierre Omidyar saw potential. The internet was still fairly new, but perhaps this giant network could be a good opportunity for commerce.
He tried it out, listing a laser pointer for $1 on his originally-named Auction Web, which was soon driven up to sell for $14.83. Perhaps there was something here. By early 1996, eBay had become a million dollar company.
A2X and QuickBooks Online or Xero for Amazon Sellers
Updated October 2020.
Like all business owners, Amazon marketplace sellers make dozens of decisions every day. Some are minor, while others will affect the business for years to come.
One significant decision is selecting an accounting system, or for those operating in the cloud, choosing between Xero and QuickBooks Online. These are the most widely-used and best-known cloud-based accounting systems most Amazon sellers will go for.
Which is better for A2X Accounting Automation – QuickBooks Online or Xero?
Walmart Sales Tax - How To Do It The Right Way
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.
A2X for Walmart Launch | Seamlessly Automate your Walmart Accounting with A2X
Today is an exciting day for everyone here at A2X. That’s because today, we are thrilled to announce the launch of A2X for Walmart.
While Walmart has traditionally been a big box retailer operating megastores throughout the world, they recently entered the online shopping industry in a big way - by creating the Walmart Marketplace and acquiring a number of smaller online shopping platforms to fuel their growth.
If you’re selling on Walmart, or planning to sign up in the near future, then you’ll be pleased to know that A2X for Walmart is here to take the hassle out of ecommerce accounting.
The Impacts of Brexit and COVID-19 to the UK E-commerce Market
In Partnership with Shopify, Xero, A2X & ClearCloud Accounting
In 2020 the UK was hit with a twofold setback of events which directly affected UK e-commerce retailers.
Firstly, Britain leaving the European Union means a change in legislation leaving uncertainty on where businesses will lie in the new parameters. More recently COVID-19 struck and caused chaos to the economy and global markets, to which the full extent is yet to be revealed.
6 Common Accounting Mistakes that FBA Sellers Make
This is a guest post from our partners at Bean Ninjas.
Did you know that more than 50% of Amazon’s $280 billion in revenue comes from FBA sellers?
The competition for sales has only grown with FBA sellers doing anything they can to get an edge. In some cases, this includes unethical or downright criminal practices to get more sales or hurt their competition.
So, the last thing you want to do is create self-inflicted problems.
How to get reconciled Shopify POS accounting
As a busy retail shop owner, your time is spread across a wide range of activities every week. Whether it’s looking after customers, managing staff or setting up your systems for success, the last thing you want to do is create unnecessary work.
And while simplicity is a virtue in any business, the retail landscape has grown much more complex thanks to the prominence of the internet. Customers expect us to be present on social media, have an online store, and provide a range of shopping options to suit their preferences.
eBay Bookkeeping Made Simple With A2X
It’s official! A2X for eBay is here, and we are excited to be a part of this ecommerce giant’s journey.
Now, sellers on eBay’s global marketplaces can benefit from A2X’s award-winning ecommerce accounting offering and integrate it directly with Managed Payments and Xero or QuickBooks Online.
And that global marketplace is rather large:
Source.
Any ecommerce seller will know that bookkeeping is an essential, albeit time-consuming, part of running their business.
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.
How-To Guide: Collecting Amazon Sales Tax
As an ecommerce marketplace seller, you probably know you should be collecting sales tax.
Items sold and distributed within the US and Canada are usually subject to sales tax. That part’s straightforward, but how much to collect is a different story altogether. How Amazon calculates sales tax is also a little complicated.
In the US, each state has its own state or local tax rate. Some have both.
In Canada, you pay a federal-level tax called GST, then depending on where the sale was made, you’ll also pay varying levels of local tax.
How-To Guide: Collecting Shopify Sales Tax
Sales tax is a fact of life for all ecommerce sellers.
If you’re not currently collecting it, you’re probably not meeting your tax obligations. Every product sold in the US and Canada (whether you’re a local or not), will likely be liable for sales tax.
The real question is not whether you should be paying, but how much. And this is where things get tricky.
Excluding the N.O.M.A.D. states, every US state has a tax rate, and some additional jurisdictions with their own applicable rates too.
The Best Accounting Software for Shopify Merchants
You’ve mastered Shopify, your sales are on the rise, and it seems your ecommerce venture is flourishing… but, you’re making most of these assumptions based on the balance in your bank account.
The only way to actually be certain if your Shopify store is making a profit is accurate accounting.
This is why you’re exploring “the best accounting software for Shopify merchants”, or something along those lines. You know it’s time to get insight into your business’s cash flow, and build and regularly review a Profit and Loss Statement (P&L) and Balance Sheet.
A2X named Emerging App of the Year finalist in Xero Awards 2019
Thanks to your incredible support over the years, A2X has been named a finalist in the 2019 Xero Awards in the Emerging App of the Year category for the release of our Shopify accounting tool, A2X for Shopify.
The Xero Awards 2019 are all about recognising and celebrating diverse partner firms, apps and small businesses.
Basically, it celebrates those who are doing extraordinary things in the life of their businesses.
The Best Apps to Fully Automate Your Shopify Store
As a seller, you’ll know the beauty of ecommerce is that you can run your business and sell your products from anywhere, to anyone in the world.
While that creates accessibility and flexibility, it doesn’t necessarily make business any easier.
Automating your store functions is the best way to streamline your ecommerce business, removing the manual work, so you can concentrate on more valuable tasks; the ones necessary to growing your business.
A2X named Xero's App Partner of the Month for September 2019
A2X, the worlds leading Shopify and Amazon accounting connector has been named by Xero as it’s App Partner of the Month for September 2019.
A2X has been helping thousands of you across the world to automate, streamline and accurately account for all of your, or your client’s e-commerce sales for over 5 years now. The launch of our new product, A2X for Shopify is now helping Shopify stores all across the globe to accurately account for their Shopify sales inside of Xero.
Leveraging tech to take on large scale clients
How A2X has been a key player in Catching Clouds growth Ecommerce accounting firm, Catching Clouds, based in the US, works with established ecommerce sellers producing a turnover of between one and $50 million. They’re considered leaders in the mid-to-high-range seller market because of their focus on high-quality tech to help their clients automate business operations.
Co-founder Scott Scharf has worked hard to create a well-known, high-tech brand - working closely with other leading tech brands like Xero and Gusto.
Welcome Financly Bookkeeping Solutions - A2X's first Canadian Partner
We are excited to welcome Financly Bookkeeping Solutions as A2X’s first Canadian Partner. Teresa Slack is one of the two owners and founders of Financly Bookkeeping Solutions - a cloud-based, virtual bookkeeping service for modern businesses that need a dynamic accounting team.
With over 30 years of experience, she is not only skilled at financial record keeping and reporting, but also setting up systems, business management, sales and marketing, forecasting and much more.
Sales Tax Nexus Trends – What Amazon Sellers Need to Know
The past year has been unprecedented in terms of sales tax law changes that impact online sellers.
The whirlwind began after the U.S. Supreme Court handed down its decision in South Dakota v. Wayfair in June 2018. The Wayfair decision is all about nexus – the level of connection between your business and the state that obligates you to register and collect sales tax.
The Supreme Court ruled that physical presence is no longer the main requirement for creating nexus, that it can also be created when a seller’s sales into a state exceed certain economic thresholds.
Peace of Mind with A2X and TaxJar
If you’re getting serious about your Amazon ecommerce business, you’ll already have yourself dedicated cloud-based accounting software, like Xero or QuickBooks Online. Hopefully, you’ll also have integrated A2X so you have timely, usable sales data and reporting at your fingertips. The next thing you need? Sales-tax software.
The cold hard truth is that if you’re selling via Amazon FBA, at some point you’re going to be paying sales tax – and that’s when your accounting can get complicated, especially if you’re selling in the US.
How the US Trade Tariffs Will Affect Amazon FBA Sellers [Part Two]
An Interview with the Owner of a US-Based Manufacturer and Online Retailer with Karen Brady Part One here.
This company uses both CNC components produced in the US, and imported components designed in the US and manufactured in Chinese factories.
The final retail products are assembled in the US and sold on from their website. Following on from the interview with ExportX’s Paul Grey, I continue my investigation into the mechanics of import/export and how the US-China Trade Wars have impacted his and other companies.
The Definitive Guide to Amazon 1099K Reports for Amazon Sellers
The Amazon 1099k (or sometimes just called the 1099 or “ten-ninety-nine”) is the one report we get asked about so often at A2X; ‘How do I match the 1099K to my sales, how do I know where Amazon gets their numbers, what does this all mean and why does it never easily balances back to your business management accounting?’.
Now, while we will cover off on all those questions in this blog and the supporting material, this task is something that is really not necessary.
New Book ‘Profit First for E-Commerce Sellers’
Specialist e-commerce accountant, bookskeep founder Cyndi Thomason’s new book, “Profit First for E-commerce Sellers” has just been published and is now available on Amazon and Barnes & Noble. ‘Profit First’ is a cashflow management methodology for small businesses created by Mike Michalowicz. Cyndi Thomason has taken the core concepts of the Profit First methodology and customised them to address the specific needs of the e-commerce business. Cyndi is the guru in applying Profit First to e-commerce businesses to help them achieve true profitability and business sustainability.
QB Appy Hour features A2X
A2X was featured on the QB Appy Hour last month. Ellen and I showed how A2X can automate Amazon accounting as part of an overall ecommerce accounting workflow. Check out the recording below:
Using Spreadsheets for your Amazon Accounting? Here's How it Compares to A2X
Still using a spreadsheet for your Amazon accounting?
You could be making a huge mistake. One that will cost you far more than the money you might save not using accounting software…
In this guide about using spreadsheets vs. A2X for your accounting:
Table of Contents Accounting for Amazon Sellers Accounting Before A2X Pros and cons of spreadsheet accounting Accounting with A2X Pros and cons of A2X for Amazon Step into the Future of Ecommerce Accounting with A2X Also on the blog Want to feel completely confident in your ecommerce bookkeeping?
A Guide to Amazon Seller Fees: Everything You Need to Know Including Hidden Fees [Infographic]
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.
QuickBooks Online Firm of the Future Finalist, Reconciled, chooses A2X
A2X is used by Firm of the Future finalist, Reconciled, for their Amazon accounting automation. Intuit has published the finalist videos - A2X gets a special mention as a tool that helps Reconciled with Amazon accounting. We’re thrilled to be in such great company - thanks for the shout out, Reconciled! Check out the video here:
Introducing A2X for Intuit QuickBooks Desktop and Enterprise
You’ve asked, and we’ve listened.
Today, we are pleased to announce that A2X will be adding support for QuickBooks Desktop into our core A2X product!
With [more than 2.8 million subscribers]( https://investors.intuit.com/Press-Releases/Press-Release-Details/2018/Intuit-Second-quarter-Revenue-Increased-15-Percent-QuickBooks Online-Subscribers-Up-51-Percent/default.aspx), Intuit’s QuickBooks Online product is the largest self-serving accounting system in the world by users, and QuickBooks Desktop makes up a large chunk of that.
What Does This Mean for Users? Well if you’re a QuickBooks Desktop user, that means you can export your Amazon settlements from A2X, and then automatically import them into QuickBooks Desktop.
Xero features A2X for innovation and success
Xero recently featured A2X showcasing innovation and success on the Xero platform. Xero describes A2X as “clever software [that] makes Amazon accounting easy” You can read the full article over on the Xero blog.
Intelligent Automation for the Amazon Seller
It’s a reality. Our world is becoming more automated every single day.
Integrations connect different apps, plugins are able to handle large amounts of information with ease, and businesses are turning to automation for their workflows and processes to scale up with speed and resilience.
At first glance, automation might seem out of reach for many Amazon sellers. What was once the domain of large organizations with deep pockets is now accessible to anyone with a laptop and a ‘can do’ attitude.
Amazon FBA in the UK and how A2X makes accounting so much easier
This article is has been written with our good friends at OD Accountants in the UK. It discusses the growth of Amazon FBA in the UK and how OD Accountants have been working though the challenges of Amazon accounting with the help of A2X.
During recent years, online marketplaces have transformed the way we shop. Amazon brings together sellers, merchants and businesses in almost every industry into a highly competitive marketplace.
What is Sales Tax?
This article is a guest post from our good friends at MuseMinded. They have teamed up with The Tax Butler to offer a free sales tax starter kit for US-based Amazon sellers.
This is the first blog in a three-part series which looks at the basics of sales tax for ecommerce sellers and where you can find help. The next two parts cover:
Sales tax strategies for Amazon FBA sellers in the United States.
Interview with Tyler Jefcoat about growing and selling Amazon FBA businesses
A few weeks ago, we had a chat with Tyler Jefcoat about starting, growing and selling Amazon FBA businesses. Tyler is the co-founder of Seller Accountant - an eCommerce bookkeeping company dedicated to supporting Amazon sellers. Unlike traditional accounting firms, the team at Seller Accountant take a holistic approach towards supporting their clients by advising them from an entrepreneurial standpoint and considering a much wider range of factors than simply financial metrics.
Sales Tax: Understand Your Obligations and Make a Plan
Sales tax for ecommerce sellers is relatively new and continually evolving.
When bricks-and-mortar stores were the only retailers, knowing where to pay your taxes and to whom was straight forward. You had a physical location which gave you “ nexus” in a particular state; a link strong enough that you needed to pay tax, and that was pretty much the end of the story.
With millions of dollars moving into the cloud space and no physical locations to pin them to, governments faced two problems:
Xero Awards 2018 – A2X is a finalist
Our trip to Xerocon Brisbane next month just got a little more exciting with the news that A2X has been shortlisted as an Award finalist in the category of: ‘Industry specific app partner’ As an app partner, A2X solves a very specific problem for Amazon sellers and is recommended by Accountants and bookkeepers as a necessary tool to automate the reconciliation of settlements paid by Amazon to its Sellers. We’re looking forward to being in good company on September 4th at the awards event.
Taxes, Thresholds, and Penalties: Understanding Changing Tax Law in Rhode Island
This article was written and published in 2018. Ecommerce tax regulations are constantly changing and location-dependent, so for the most up-to-date information, always consult your accountant or the official government websites for your state. We also have a complete guide on collecting Amazon sales tax here with appropriate links and advice.
As more and more international businesses start to sell through Amazon, understanding the ins and outs of US tax law becomes increasingly important.
New taxes, new issues - understanding Washington’s Marketplace Facilitator Tax
If you’re an Amazon seller with sales in the state of Washington, you may have noticed some changes to the way your sales tax appears in your A2X reports. This is the result of the new ‘Marketplace Facilitator Tax’ that was introduced in January this year. While this specific tax only applies to sales in Washington State, other states are introducing similar taxes of their own, which will affect Amazon sellers in the future.
How A2X Lets Acuity Do More for Their Clients: Automated, Accurate, Affordable
Acuity is a US-based accounting firm that specialises in bookkeeping and accounting for small businesses.
They are tech leaders in the accounting field, and are always looking for ways to make their work more efficient and save money for clients.
A2X does just that, by helping them to automate some complex processes, get accurate numbers, and speed up their results. After implementing A2X and seeing the difference it made, the team at Acuity recommends it to all their Amazon clients.
A2X, bookskeep, and backdating the books
bookskeep is a US-based bookkeeping firm that specialises in ecommerce businesses. They’ve been around since 2014, and have been an A2X partner since 2017. bookskeep has a high number of clients using QuickBooks Online, although they’re seeing an increasing number of Xero users too. Recently, the bookskeep team helped a client who needed to rebuild their financial records in order to sell their business – and they realised the true value of A2X.
Registrations, Regulations, and Complications: Tax Planning for International Amazon Sellers in the US
If you’re an international seller wanting to break into the US market, an ecommerce giant like Amazon might appear to be a straightforward solution. With a 45% US ecommerce market share, a little bit of time spent creating an online store on Amazon and managing fulfilment certainly looks worth the investment. What many international sellers don’t realise, however, is that the story doesn’t end (or even begin) there. State and federal tax laws come into play, as well as banking regulations and business registrations, all of which need to be organised before any selling ought to take place.
8 Inventory Financing Options for Amazon Sellers
Financing inventory can be intimidating and often stressful even for bigger sellers. But, it doesn’t have to be. When you’re short on much-needed inventory, it’s easy to make rash decisions when it comes to financing it. The best thing you can do is take a step back, do your research and consider your options.
1. Money in the Bank If you have enough personal savings to fund your holiday inventory, you can pay for your next purchase order or closeout sale (in the case of retail arbitrage) interest free.
US event update: Catch up with us on the road as we head West to East
Palo Alto - Las Vegas - Atlanta. It’s a new season of events for the A2X team. This week we’ve been on the Intuit stand at Startup Grind in Palo Alto exhibiting as part of Intuit’s sponsorship and talking to other entrepreneurs and investors in Silicon Valley’s hub for startup networking. Next month A2X will be with the Amazon seller community exhibiting at the Prosper Show in Las Vegas over March 12-14.
A2X and Amazon Australia Accounting with Xero and QuickBooks Online
Amazon Australia launched Amazon.com.au at the start of December and hit, what has been reported as, a record first day of sales in any Amazon marketplace.
A2X is excited to report that we are able to support Amazon Australia sellers to thrive on the new platform and nail their ecommerce accounting.
If you’re an Australian business selling on Amazon in Australia, or an international firm opening an Amazon.com.au selling account, A2X will give you the reliable, accurate accounting of sales and fees you need to reconcile your Amazon settlements in Xero and QuickBooks Online.
An Insight into the Catching Clouds Academy for Amazon Sellers
Our good buddies at Catching Clouds have created a masterpiece. Something Amazon sellers and their accountants will love. It is an end to end Amazon accounting course that outlines the hows and whys of Amazon accounting. It is the course for you if you’re using Xero or QuickBooks Online to track Amazon sales, either in the US or internationally.
Tips and Challenges There are many aspects of the course I respect but the biggest one has to be that Patti and Scott have learned by doing, and often the hard way, and they share these experiences throughout the course.
Online Business Saves Time Thanks to A2X, Ahead of Amazon Australia Launch
Time gained with A2X will be crucial as Amazon launches in Australia.
Kerin* runs a highly successful online business. She had grand growth ideas in the pipeline, but not enough time to set them in motion.
A2X is the automated Amazon marketplace accounting service that Kerin used to win back 20 hours a month and the opportunity to grow her business – fast.
Kerin and her husband have been running their own very successful online business since 2012, selling world-wide from their base in Australia.
AVASK's James and Angelos discuss Amazon VAT compliance and enforcement with Ed Rosenberg
Last week Ed Rosenberg interviewed A2X partner firm AVASK about VAT compliance and enforcement for Amazon Sellers. James and Angelos covered how VAT compliance is being enforced for Amazon Sellers and the penalties faced if a business ignores compliance. VAT is complex, with some very serious implications for your business, check out the full interview below to get a sense for the challenges and importance of the VAT accounting for Amazon sales.
A2X Welcomes bookskeep as an Accounting Partner
Here at A2X we feel privileged to have Cyndi Thomason from bookskeep join our group of North American Partners. Two years ago bookskeep started working with their first Amazon seller client and quickly began partnering with more Amazon sellers every month. Cyndi quickly realized something: Many Amazon pros were pursuing the same flexible lifestyle she was! One of the primary goals at bookskeep is to free up their clients so they can enjoy their life and build a business.
Catching Clouds and A2X: What Makes a Great Partnership
A2X and Catching Clouds - A Great Partnership. I’m pleased to announce the launch of our A2X partner program, and to introduce the first official A2X partner, Catching Clouds of Denver, Colorado, Catching Clouds provides outsourced ecommerce accounting services for online businesses. The Catching Clouds team are experts in Amazon ecommerce businesses, the technology, and the accounting they need to manage their businesses. Owners of Catching Clouds, Patti and Scott Scharf, have been working with the A2X team since January 2014.
Selling on Amazon? Here's How to Spend Less Time on Accounting, and More on Your Business
If you’re an Amazon marketplace merchant, you’ll know that selling through the platform isn’t all smooth sailing. In fact, when it comes to balancing your books, there are some serious headaches to deal with.
Sales data from Seller Central is delivered in an overly complicated format, which doesn’t mesh easily with most accounting systems. This means reconciling sales numbers with the actual amounts that land in your bank account can seem nearly impossible, and cost you hours or days every month.
Amazon, accounting, and A2X
Why e-commerce accountants love A2X. The apparent simplicity of selling through the Amazon marketplace can be deceptive. Although the Amazon Seller Central portal provides details of each transaction in reports and file downloads, as businesses grow and sales increase, accountants and sellers start to find these reports unhelpful – to say the least. Amazon’s sales reports don’t provide a breakdown of sales tax, don’t date sales accurately month by month for accrual accounting, can’t be exported to accounting software without huge issues, and include extremely confusing fees and charges.
Amazon Reserve amounts: what to do when Amazon withholds your settlement payment
In this post we want to cover two often confusing transactions you will see in your Amazon settlement files that A2X imports. The first is the Current Reserve Amount and the second is the Previous Reserve Amount Balance. Firstly, a bit of background to these transactions. Why does Amazon withhold payment? Sometimes Amazon withholds some or all of your settlement payment for various reasons. Some examples of why we have seen Amazon do this to sellers: you’re a new seller with no history, your credit card on file with Amazon is expired, or there’s a bank account validation problem in your seller account.
Amazon Promotion and Sponsored Products Accounts
The other day I was going through my amazon seller fees for the month. I recently launched my first effective Amazon promotion and wanted to see what it looked like in my accounting software. Mostly, I wanted an overview of how much I have given away in order to create the recent promotion related sales. I use A2X and when I did my initial mapping “Amazon Promotion” was not mapped. This is because my Amazon account had not yet done any successful promotions.
How to Account for Amazon fees - Amazon Fee Accounting
Amazon Fee Accounting Basics After taking the time to break down what Amazon’s sales and FBA fees are, the next logical move is to account for them in your preferred accounting software. This way when you look at reports like your Cash Summary and PNL (profit and loss) the Amazon fee and Amazon income portion is easy to spot, understand, and interpret. Setting up and coding your Amazon incoming revenue and outgoing expenses is the sort of thing you really only have to do once.
What Are Amazon FBA Transaction Fees and Fee Breakdowns
If you use Amazon’s FBA (Fulfillment by Amazon) service, you’ve probably seen a few extra FBA fees pop up on your statements. In this article, we’ll explain what those fees mean (in real life), and how to record them in your books.
Find our updated fees guides for 2021 here:
Amazon Seller Fees Amazon FBA Fees Table of Contents What is Fulfillment by Amazon? Understanding FBA Transaction Fees FBA Order Handling Fee Variable Closing Fee: BMVD or ‘Media’ Items Refund Administration Fee FBA Pick and Pack Fee FBA Weight Handling Fee Referral Fee On Item Price FBA Storage Fee Long Term Storage Fee Amazon FBA Fees Calculator Accounting for FBA Transaction Fees Problems Amazon FBA Sellers Have With Accounting Cash vs.
Grouping Sales by Product Type in A2X
A2X software offers different options for the grouping of Sales, Refunds, Promotions, Shipping and Gift Wrap charges. We also have a Grouping by Product Type option. Grouping by SKU is fairly obvious; grouping by product type is a little more complicated.
In this article, we’re going to show you how grouping by product type works. We’d like to say upfront, product types are generally an extra-for-experts setting that not all users are going to want or need.
AF Accounting
How Allan Fefergrad and the team at AF Accounting uses A2X for Amazon seller clients Located nearby Griffintown, Montreal, AF Accounting is a contemporary accounting firm catered towards professionals, small and medium-sized businesses. Through adopting modern accounting technologies, they are able to offer a complete suite of accounting expertise in the most efficient manner possible.
The firm was founded in 2008 by Allan Fefergrad, CPA, CGA. He has several years of experience in general accounting, taxes and finance.
