If you run and operate an eCommerce business we can help. We’ve worked with ecommerce businesses who use Etsy, Amazon, Shopify, BigCommerce, and many of the popular ecommerce platforms.
The challenges you might be facing as an ecommerce owner or operator usually revolve around tax compliance, inventory management, bookkeeping, and software integrations.
Sales Tax: Ensuring compliance with your sales tax across Canada, and other countries you may be selling too.
Currency Conversion: Being able to handle cross-border processing fees, and currency conversions can be tricky when it comes to tax filling.
Integration: Integrating your accounting software with platforms like Shopify, Amazon, Etsy and inventory management software.
Refunds and Chargebacks: Handling and tracking your customer refunds, and dealing with chargebacks within your bookkeeping software.
Inventory Management: Maintaining and managing inventory and inventory product details, expenses, sales tax within your inventory management software.
We’ll help you manage your accounting and taxes so you can focus on scaling your ecommerce business, cutting down expenses and acquiring more customers.
Automate Processes: We’ll help you automate your accounting, bookkeeping and tax and ecommerce finances using A2X.
Regular Audits: We’ll be able to frequency review your inventory management, tax compliance, sales records, and expenses to ensure financial health.
Expense Categorization: Using platforms like A2X and QBO we can categorize your expenses more easily (ex: marketing, product development, operational costs.)
Cross-Border Taxation: We’ll help you handle Canadian & US taxes such as foregin tax compliance and sales tax rates.
Stock Management: Keeping track of inventory levels across multiple sales channels to avoid overstocking or stockouts.
There are many tax accounting firms to choose from, below you will see how we stack up against them.
We understand the world of ecommerce as we’ve operated our own ecommerce stores in the past.
We’ll develop a personalized tax strategy for you
We’ll integrate with your eCommerce platforms
Strategic technology and financial advisory
How to maximize deductions and profits
Some accountants don’t understand ecommerce, as they haven’t experienced managing one on their own.
Inexperienced with the world of eCommerce
Lack of understanding with tech integrations
Lack of experience with cross-border tax rules
Don’t understand inventory management
We work with a variety of different traders within Canada, USA, Dubai, UK, Poland, Spain, Portugal, Signapore, and more..
The most popular ecommerce website to manage online stores.
An online marketplace used for selling homemade products.
Benefit from maximizing profits with your Amazon FBA store.
A great platform for advanced ecommerce store owners.
A website built around selling new/used products in auction.
User-friendly WordPress ecommerce product management.
A QuickBooks inventory platform that integrates with QBO.
Ecommerce businesses that leverage Alibaba like drop shipping.
With TikTok Shopping on the rise, we can help you.
We understand the unique challenges and opportunities you face, and we’ll offer you customized services to maximize your financial efficiency and compliance:
Tax Planning and Compliance: We help you navigate cross-border tax compliance and sales tax compliance with the CRA.
Profit and Loss Analysis: We’ll ensure your ecommerce business is in good financial health by providing you regular profit and loss analyses.
Expense Tracking and Deductions: We’ll track your expenses and deductions to increase your margins, and can help with reducing your taxes.
Financial Forecasting & Budgeting: We’ll help you forecast and budget your business spending, and also prepare you for any potential audits.
Software Integration: We will manage your inventory software and accounting software integrations, setup and management.
Bookkeeping: We’ll help you manage everything from receipts/invoices, expenses, subscription costs, sales and integrations.
– Danny Khanna, Managing Director
Below you will find written reviews from our clients who are satisfied with our services and promises.
We’ll worked with many ecommerce businesses and we’ve helped them save a substantial amount of time, money and financial stress.
Here’s how we can help:
We offer continuous support and advice, keeping you informed about regulatory changes, potential financial risks, and opportunities in the ecommerce world.
From generating regular financial reports to preparing year-end statements, we provide comprehensive reporting services that offer clarity on your business’s financial health.
We develop personalized financial strategies that align with your trading goals and business structure, whether you operate as a self-employed ecommerce operator or corporate business owner.
Our services include integrating your accounting system with various ecommerce platforms for streamlined financial tracking.
Managing Director
“I’ll be your main point of contact for your ecommerce accounting.”
Senior Accountant
“I’ll help setup and manage your accounting & tax.”
Combined we have over 15+ years of experience in accounting.
MyBookly Accounting has been operating for 10+ years helping a wide variety of clients including crypto, ecommerce, tech and small business.
We don’t use long-term contracts, as we believe our clients should have the freedom to leave whenever they want.
We work on a monthly basis as well as though one-time projects.
Because accounting is a service which is fully customized based on your needs, we suggest you schedule a demo with us to get a final price.
Currently we support QuickBooks, Xero, FreshBooks, and Wave. If you have another accounting software outside of these providers, reach out to us and lets see if we can help.
Depending on whether we’re able to support your current accounting software it can take 1-2 days. However if you’re using a software that we’ll need to migrate its data too, this may take 5-7 days.
– Dilan Ropero, Senior Accountant
