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    'Tis the eCommerce Season

    [fa icon="clock-o"] Dec 22, 2020 9:57:45 AM [fa icon="user"] Cheryl Coyle [fa icon="folder-open'] Small Business, Bookkeeping, Professional Services, eCommerce, Accounting

    online shoppingDespite the time of year, I chose to head to Aurora Outlets to pick up a few holiday gifts this week. I recall saying last year that I would spare myself the misery of trying to find a parking spot and waiting in line. Knowing the annoyance lying ahead, I went anyway.

    To my surprise, I arrived to a parking lot graveyard. I could have parked 100 cars in that lot. My immediate thought was that the stores were closed. Nope, they were open, it was 6 p.m. on a Thursday night. What joyous luck!

    Upon finishing shopping, I couldn’t help but wonder why I was so lucky. I mean, yes, we are in the midst of a global pandemic, but I thought there was more to it. When I arrived home and walked past the pile of packages that were delivered that day, I realized that others were doing the same thing as me -- purchasing most items online.

    There really isn’t a better time to have an eCommerce business. Between rising demand and the litany of apps that make operating an eCommerce business easier it makes sense to have an online presence.

    Like any small business, there are growing pains in the world of eCommerce. Once the sale is made, you still have a lot of work to do. We’ve helped eCommerce businesses navigate the tricky bookkeeping associated with online sales. Things to consider:

    • Managing and paying multi-state sales tax
    • Proper recording of merchant fees
    • Tracking sales and expenses
    • Managing inventory and shipping
    • Accounting for returns, bundles, and promotions

    There are several applications available to help manage some of the above issues. We prefer Webgility and Avalara, both of which take some of the pain out of eCommerce bookkeeping.

    Selling may be easier now than ever but don’t lose sight of the back-end work that keeps the sales machine going. Find out how we can help at www.budgetease.biz.

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    Cheryl Coyle

    Written by Cheryl Coyle

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