Account and compliance are equally important for all the sellers and it is somehow difficult to maintained by the sellers. There are very few Accountants who do this modern Ecommerce Accounting and they also have very less knowledge about export compliance for the sellers doing export through ecommerce.
We have our inhouse legal and compliance team who would be helping you to resolve your accounting and compliance complexity to run your business smoothly.
Our core services that we have included are-
1. Accounting and Bookkeeping
- Revenue Tracking:
- Record income from Amazon sales.
- Reconcile sales and payouts with Amazon's reports.
- Expense Management:
- Track costs such as FBA fees, advertising, refunds, and storage fees.
- Analyze search term reports to understand customer behavior.
- Profitability Analysis:
- Calculate gross profit and margins.
- Monitor overall profitability across product lines.
2. Tax Compliance
- Sales Tax Calculation and Filing:
- Determine sales tax obligations based on nexus rules and marketplace facilitator laws.
- Prepare and file sales tax returns in applicable states or regions.
- GST/VAT Compliance (for international sellers):
- Handle VAT registration and returns in countries like the UK or EU.
- Comply with GST requirements in countries like India or Australia.
- 1099-K Reporting (USA):
- Manage forms for sellers meeting IRS reporting thresholds.
3. Financial Reporting
- Prepare profit and loss (P&L) statements.
- Generate cash flow reports to understand operational liquidity.
- Create balance sheets to track assets, liabilities, and equity.
4. Compliance with Amazon Policies
- Account Health Management:
- Monitor and maintain seller performance metrics (e.g., order defect rate, late shipment rate).
- Policy Violation Resolutions:
- Assistance in resolving issues related to intellectual property complaints, listing removals, or account suspensions.
5. Inventory and Cost Management
- Manage inventory costs and valuations.
- Optimize restocking to reduce overstock or stockouts.
6. International Selling Compliance
- Help with currency conversions and international tax laws.
- Comply with customs regulations for cross-border shipments.
7. Payroll and Staffing Management
- Handle payroll for teams involved in Amazon operations.
- Ensure compliance with local labor laws.
Benefits for Sellers
- Time Savings: Frees up time for scaling the business instead of managing tedious accounting tasks.
- Error Reduction:Professional handling reduces the likelihood of financial or compliance errors
- Improved Cash Flow:Accurate reporting helps with better financial planning.
- Peace of Mind: Ensures compliance with tax and Amazon regulations.
Who Should Use These Services?
- New Sellers: To establish a solid financial and compliance foundation.
- High-Volume Sellers: To manage complex accounting and tax requirements.
- International Sellers: To navigate multi-country tax laws and policies.
