E-commerce is any sort of online platform in which currency is exchanged for a good. The most common e-commerce platforms include eBay and Amazon. Throughout the years the popularity of e-commerce has been increase and numerous other platforms have been created such as Poshmark and Mercari. If you have purchased an item online, you have participated on an e-commerce platform.
A big question for e-commerce sellers is whether they have to report the income that they earn. The answer to that question is yes. All income that is earned is required to be reported to the Internal Revenue Service and e-commerce sellers are not excluded from this. Just like any other business, it is important for e-commerce sellers to keep track of their income and expenses.
Why should I hire a bookkeeper who has experience with e-commerce versus a regular bookkeeper? Hiring a bookkeeper with experience specifically in e-commerce means that you will: be receiving the most deductions possible when completing your tax return, you will have someone on your side with experience who can help you navigate different platforms, and they will be able to relate to you on a personal level.
Our bookkeepers know tips and tricks for each platform that can aid in your success and help you get the most out of your e-commerce business.
We know that as an e-commerce seller one of your goals is to keep your expenses low while maximizing your profit. We can assist you with picking the best priced online accounting program, setting up a chart of accounts that tracks exactly what you are interested in knowing, and even provide virtual assistant services to aid in your business.
Whether you need bookkeeping assistance or simply someone to help manage your e-commerce business, we are here for you.