The accounting side of your business may seem laborious and frustrating but plays an extremely important role in determining the success of your eCommerce enterprise. Choosing the right eCommerce accountant is therefore of critical importance.
There are however many factors to take into account when finding just the right fit for your business. 5 Mistake to avoid when choosing an eCommerce accountant to best meet the needs of your business include:
It is critical to check whether your accountant has the necessary qualifications to provide their services. It is easy to fall prey to a scam or hire an eCommerce accountant online who actually isn’t qualified or has falsified their qualifications. Qualifications may differ from one country to another.
In the UK for example, check the qualifications as a Chartered Accountant and internationally as a Certified Public Accountant (CPA). At Infinity22, all our accountants are fully qualified and experienced at providing services directly related to eCommerce businesses.
2. The Stage Of Development
Ecommerce businesses follow a pretty predictable path in growth and development. As your business grows and develops, your accounting and financial needs are going to change. For example, a start-up business is going to have low transaction volume and face the challenge of having little available capital. An established business that is starting to reach the international market has greater transaction volume but faces greater challenges in managing taxes.
Infinity22 offers a tailored accounting solution to meet the needs of your eCommerce business where it is currently in its phase of development. Our solutions will adapt and change as the needs of your business grow and expand.
Cost is of course one of the most important considerations when choosing an eCommerce accountant. Different service providers bill differently and apply different rates for their services.
Infininty22 offers flexible billing to meet the needs of each unique client. You will be billed according to the services that your eCommerce business needs and chooses.
4. Service Offering
Your eCommerce accountant should preferably offer a comprehensive list of services that will meet all the financial needs of your business – from the basics right through to financial and tax planning. If your eCommerce business is operating on a global scale, it is especially important to choose a service provider that specialises in international tax and other factors that may affect the operation of your business.
Infinity22 offers comprehensive eCommerce bookkeeping and accounting solutions to meet the needs of specific eCommerce business models at various stages of development. Our service offering includes monthly accounting services, budgeting & forecasting, cash flow management, financial reporting and so much more. To find out more about the specific services we offer to meet the needs of your business, contact us today.
5. Free Strategy Session
It is always recommended to get to know your eCommerce accountant better to determine if they are the right fit for you and your business. An initial consultation is a good way to do this. It will help you establish where you can expect the relationship to go in the future and give the eCommerce accountant the opportunity to assess your business and its financial and accounting needs.
Infinity22 offers a free strategy session to eCommerce business owners. During this consultation, we will establish where your business is currently at, your current accounting needs as well as where the business is headed in the future. The strategy session also gives you the chance to get to know us better and to assess whether we will be able to meet the needs of your unique business. Our strategy sessions are conducted via web conferencing so that we can provide an assessment no matter where you are physically located.