COVID-19 however, has made the shift for retail from high-street to online an even bigger move, with many retailers now becoming sole online-retailers. And just as any bricks and mortar store would need help with accounting, so too do online retailers and e-commerce stores. QuickBooks has over 2 million global users, and it’s introducing constant improvements. Not only that, this online cloud-based accountancy solution is advocated by thousands of other e-commerce accountants. By integrating stock management and accounting systems, you’ll be able to more accurately track data like how much money each product is bringing in and how often each piece is being bought.

• Whether you are online only or hybrid, a fast-growing firm, or just starting out, paying your taxes on time is mandatory.
• Support you with multi-currency transactions while providing valuable advice on the best payment service integration that integrates well with your accounting software.
• Transport Discover our range of accountancy services for shipping, transport and logistics businesses delivered by a team of vastly experienced specialists.
• While there’s a cloud option available to buy, we suggest looking at alternatives if using a cloud-based solution is what you’re looking for.
• Now, if maths and finances aren’t necessarily your forte, this is where accounting software can really help you.
• We don’t compromise on that, whether it’s advising on inventory management, measuring unit economics, navigating changing import and export regulations, or making payroll work.

They are experts in helping start-ups and established businesses with all aspects of growth, strategy, scaling up, accounting and tax planning. Having a thorough understanding and managing your books well makes running your business much easier. And you’ll be glad of this when you reach the point where you’re ready to expand, for example if you’re switching fromsole trader to limited companydue to increasing demand for your products or services. We’re sure you already know that inventory management is crucial – you may already be using third-party software, or an Excel spreadsheet, to track it. Now, to make this process more effective, as well as to provide you with a clearer picture of your sales, select a software which you can use directly on your platform, or integrate with your existing system.

Supporting Sellers on Amazon, Shopify, eBay, Etsy & More

However, digital transformation has unlocked the doors to turn these hobbyists into budding entrepreneurs, and the e-commerce industry has, in a word, boomed. Xero retail allows you to access customer and business information retail accounting online anytime, anywhere with the mobile accounting app. Financial Reports — Whether you need it monthly or quarterly, you’ll receive regular reports on your statutory accounts, financial statements, and audits.

It just takes a few clicks and minimal investment to set up a shop, and you can instantly reach buyers in all geographies and time zones with relative ease. So e-commerce can be a lucrative venture and your unique product or service could be a real winner for you. I really enjoyed the experience I had with them and would recommend them to others. Operating from our London head office, Venn Accounts a traditional accounting firm. We are committed to ensuring all our clients are completely clear about what we can do for them, while fully supporting them every step of the way. But it’s also important to manage the financial side of being an employer.

Speedy and accurate tax reporting

Infrastructure and Capital projects We deliver a range of services for PFI and other infrastructure or capital projects including audit, advisory and contract management. Health and Social Care Discover how our full range of accountancy and business advice services for health and social care organisations can help you achieve your strategic goals. Financial services Digital disruption and transformation, intense regulation and scrutiny and changing consumer expectations are all challenges familiar to you. Our Financial Services team have experience and knowledge that deliver advice and insights with make a… In recent years, with the growth of the internet, how and when we shop has changed dramatically, and so has the face of the competition.

We also have a particular specialism of working with Food and Drinks brands and are pleased to have worked closely with a number of these clients as they progress from start-up to an established business. If you want an accountant that doesn’t charge you for every email or phone call and gets back to your queries without you needing to chase them. What was once an option for those who couldn’t find what they needed on the high street has now become a way of life for most.

Digital

When it comes to systems and technology, we can help you integrate your EPOS system with Xero, Sage or whichever accounting system you use. Xero works seamlessly with a wide selection of apps such as point of sale and inventory, which can make your life as a business owner much easier. Budgeting — If you need to purchase software or equipment, you’ll know if you have the budget for it or if you need to seek funding. Exit Strategies — We’ll come up with an exit strategy that will not put all your hard work to waste. With our game plan, you can start another business again or choose to retire. We offer a free initial consultation to talk about your requirements and potential solutions.

Growing consumer caution is also impacting sales, putting further pressure on profits. Whether you need an agile format, whilst you are testing the UK market, or wanting to fully expand into the UK, Menzies can provide comprehensive assistance in all areas to ensure nothing is missed. Idahoan wanted to test the UK market by supplying through the US company to see if their product would be popular with an overseas consumer market. They were introduced to Menzies who applied some BrighterThinking to their situation.

Accounting for eCommerce Businesses

Our international network of experts cover oil & gas, renewable, mining, agribusiness across 162… The end of the Energy Bill Relief Scheme on 1 April could threaten the future of hundreds of thousands of small firms, according to research by https://www.good-name.org/how-accounting-services-can-help-real-estate-companies-optimize-their-finances/ the Federation of Small Businesses . The Energy Bill Discount Scheme offers a far lower level of support… As you may know, from 1 April, the corporation tax rate increased from 19% to 25% for companies with taxable profits over £250,000.