E-commerce accounting software to boost your business

Put simply, e-commerce accounting is managing, understanding, and reporting on your business finances. As an online business there are key things that you need to think about when it comes to accounting :

Reporting : it’s important to keep track of stock, sales, and returns so that you know your costs, where you’re making money and how much you’re selling.

Bookkeeping : you need to keep track of transactions whether it’s a sale, a return, or if you’re buying items. Through bookkeeping, you can keep an audit trail of all these actions so that you have clear visibility of your finances. Remember that tax requirements can change depending on where you’re selling so make sure you do your research.

Tax filing and reports : make sure you are completing tax returns each year. This is where you declare your income and capital gains for the tax year. You’ll also need to prepare statutory (or annual) accounts at the end of each financial year.

There’s a lot to think about when looking at your finances, from supplier payments, banking fees, and stock levels to sales and returns. With accounting systems in place, you can make sense of money coming in and out of your business with simple reporting, an easier way to collaborate with your bookkeeper or accountant, and automation so that you’ve got time to focus on your business.

Sage Accounting helps e-retailers and e-commerce businesses (including Amazon, eBay, Shopify and Etsy sellers) to simplify financial management. With cloud accounting software you can save valuable time on admin and view insights in real-time so that you can focus on boosting business. Use Sage Accounting to :

• Quickly raise quotes and invoices to get paid faster
• Control cash flow with accurate forecasting
• Create a digital paper trail and file VAT returns to stay compliant
• Record expenses on the go with AutoEntry to snap and capture receipts
• Give bookkeepers and accountants permission to review finances and collaborate with you in real-time
• Pay employees on time, every time with Sage Payroll
• Manage finances from anywhere with our mobile app

To manage your finances quickly and easily you need the best accounting software for Amazon, eBay, Shopify and Etsy sellers. Sage Accounting is an affordable choice that enables you to record income and expenses and sync transactions with your bank account. You can also snap and capture receipts with your phone or a computer. And Sage Accounting simplifies generating and emailing invoices to customers.

Sage Accounting for e-commerce businesses is HMRC recognised and MTD compliant software that helps you stay on top of the latest legislation so that you can focus on what you do best. It’s easy to quickly and securely file VAT returns as Sage Accounting calculates the VAT for you. You can collaborate with your accountant or bookkeeper using real-time data. And with a clear view of a live running total of your tax liabilities, you can have complete confidence that your returns are accurate every time.

Yes, even with online marketplaces, it’s important to keep track of stock and financials. You can use our A2X partner app which integrates with Sage Accounting. It categorises transactions and sends them to Sage quickly and easily, giving you a simple summary that matches your Shopify, Amazon, eBay or Etsy payments. It’s a great way to get accurate, automated accounting that cuts out the admin burden.

There are plenty of ways you can save time with Sage Accounting. Here are some examples:

Automate manual tasks

By automating tasks, you can cut down the amount of time you spend on manual data entry to save money and focus on the areas of the business that need the most attention.

• Set up recurring invoices to avoid starting from scratch each time
• Add invoices in bulk to save time
• Get Google Drive integration to get automatic copies of invoices and quotes online
• Connect your bank and let transactions flow into Sage Accounting for easy reconciliation
• Make sure that you’ve always got the right amount of stock - quickly view your inventory and create reorder levels and quantities
• Get inventory reports to see stock information in seconds

Purchase Automation and AutoEntry

Spend less time on admin and more time on your e-commerce work with a paperless way to manage receipts. Simply snap, scan or email a photo of your receipts, bank transactions, invoices or other documents for your Sage accounts using Purchase Automation and AutoEntry. Then categorise, publish and share them with your accountant through Sage Accounting. AutoEntry captures tax summaries and full line item details including description, quantity and unit price so it’s an easy way to log the information you need, when you need it.

Other ways to save time:

• Use dashboards to view your financial data instantly
• Use real-time data to collaborate faster with accountants or bookkeepers
• Create and send invoices, easily follow up with clients on outstanding invoices and track the health of your business in real-time from anywhere with the mobile app
• See a live running total of your tax liabilities, plan ahead and submit to HMRC
• View cash flow forecasts in real-time to make faster business decisions
  
  

Yes. With Sage Accounting Plus you can easily manage your business across multiple countries. It gives you the flexibility to trade in the currency of your choice, ensure that information is accurately shown, and view the base value of accounts in reports to minimise incurring currency exchange fees, simplify payments, and save time. 

• Accept and make payments in multiple currencies
• Get a central view of all bank accounts for countries you trade in
• Stay in tune with the impact the currency exchange has on your cash flow and profits by tracking gains and losses
• Get accurate exchange rates with the ability to adjust rates for specific dates
• Record gains and losses as rates change
• Reconcile foreign currency transactions
• Easily toggle between local and foreign currency transaction