eCommerce Accountants are very different from regular business accountants. A normal accountant has broad knowledge – an eCommerce Accountant is a specialist.
This is important for one big reason: the businesses that take our advice today, change their profitability tomorrow.
What does a good eCommerce Accountant do?
A good eCommerce Accountant sets your business up for success by giving you the advice that increases cashflow and profitability. It’s that simple.
Businesses that do these two things right are the truly successful ones. They’re the ones that create wealth for their owners, grow sustainably and weather the storms.
Quantify Unit Economics
What is the cost of business for every product and transaction?
ROI & ROAS
Are you making more than $1 back on every $1 you spend? Is your marketing working and actually making you money?
Inventory & Working Capital
Your inventory is your money – literally. Handle inventory in ways that keep your money working.
Business Profitability
Where is the business missing profit opportunities? Which parts of the business are costing more than they should?
How does an eCommerce Accountant do it?
This level of expertise is a combination of skills that go beyond accounting.
You would have noticed that really successful businesses don’t have a CAO (a Chief Accounting Officer) – they have a Chief Financial Officer. A CFO is able to understand the internal financials of a business and apply that to the external financial world that we all live in. It goes beyond accounting. This is why we have CFOs instead of CAOs.
So a really good eCommerce Accountant is actually a really good eCommerce Finance expert – like a CFO. This what an eCommerce CFO does:
Set up streamlined systems & bookkeeping
Manage books without fuss. Data entry; bank reconciliation; processing of invoices, receipts, payments and running payroll.
Stay on top of business obligations
Run payroll, submit BAS and other government/regulatory reporting.
Cash flow forecasting & management
Take the actions that keeps money in the company’s bank account, instead of being tied up in unnecessary costs. Find ways to being more cash in.
Apply Economic, Finance & Market Insights
Apply economic and financial principles that make the business more profitable in constantly evolving markets, and to be ahead of the market.
Business Analysis & Reporting
Dive deep into the numbers of the business to figure our where the money is coming in and going out. Find the levers that affect the true health of the business.
Effective Business Budgeting
Keep the costs of the business under control. Support the different functions of a business to be industry-competitive.
Provide Actionable Advice
Give the business leaders specific, actionable advice that drives profitable outcomes.
Provide ongoing education
Educate the people in the business so the standard in the business keeps improving.
How much does it cost?
The costs of our services vary on the size and complexity of your business, and the specific services you choose. We will need to speak to you in order to give you a specific price. Generally speaking, our prices are similar to that of a typical bookkeeping service.
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It's been great to be able to get all of our data into once place, know that the integrity's there and be able to use that and rely on that to make better decisions, which is exactly what I need as a CEO.
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Does that all sound good? Here is what to do next.
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