“Figuring out your numbers” has by no means been extra vital for retailers. With rising value of products, provide chain challenges and decrease yield promotingunderstanding the true monetary efficiency of a enterprise has reworked from a pleasant to must a have to know.
In actual fact, 32% of e-commerce companies fail as a result of they run out of money, 29% fail due to value and pricing imbalance and others fail as a result of they attempt to scale too rapidly.
So how do you get a deal with in your numbers to keep away from these monetary pitfalls?
The easy reply: observe good accounting.
Sadly, “good accounting” is more difficult for retailers that promote on-line than conventional brick-and-mortar retailers.
Take into account the ecommerce accounting problem:
- Ecommerce shops have extra fee choices than conventional brick-and-mortar retailers. Retailers must reconcile completely different payouts which all have completely different fee timelines.
- Promoting on-line opens up a much wider market. Gross sales in numerous states or nations could make you liable for classy tax necessities.
- Retailers must account for a lot of completely different transaction varieties together with gross sales, charges, refunds, tax and extra. It is time-consuming to manually and precisely categorize transactions for an in depth Revenue & Loss Assertion (P&L).
- Gross margin is tough to trace in the event you’re not appropriately managing your Value of Items Bought (COGS).
BigCommerce is devoted to offering retailers with instruments to make ecommerce simpler and extra worthwhile, and need to be sure that retailers have the monetary visibility they should make one of the best choices for his or her enterprise.
That is why BigCommerce has partnered with A2X to combine their accounting app onto their highly effective e-commerce platform.
Much less Accounting Complications, Extra Monetary Visibility
Integrating A2X on the BigCommerce platform was a simple determination, because it got here extremely requested by a lot of their rising retailers and their accounting companions.
BigCommerce has helped tens of hundreds of retailers all over the world develop their companies, however with progress comes elevated accounting complexity.
With BigCommerce and A2X, ecommerce accounting is simplified, automated and correct. This integration transforms a handbook, time consuming course of into an automatic expertise that provides you true monetary visibility in only a few clicks.
Automated e-commerce accounting
Since 2014, A2X has been trusted by main ecommerce retailers, accountants and bookkeepers, to automate their accounting, make tax season much less time consuming and enhance their monetary visibility.
As Scott Scharf, CTO at Acuity (a number one observe for on-line retailers) places it “A2X is the gold normal in ecommerce accounting.”
Precisely reconcile payouts.
A2X syncs your BigCommerce gross sales knowledge with QuickBooks On-line or Xero and auto-categorizes the transactions — gross sales, charges, taxes, present playing cards, refunds and extra — into day by day summaries that make reconciling payouts a breeze.
Make tax time much less taxing.
Keep away from overpaying taxes by assigning tax guidelines to each transaction sort, taxable or non-taxable gross sales and nation.
Know your margins.
A2X matches your value of products offered (COGS) together with your BigCommerce gross sales that can assist you keep on prime of your gross margin.
Entry accounting professionals.
Not working with an in-house accountant or bookkeeper? Discover one on A2X’s Associate Listingthe biggest community of licensed ecommerce accounting and bookkeeping professionals on the earth.
World expertise, native help.
The A2X help group is accessible in nearly each time zone, has deep ecommerce accounting experience and might help you in your journey to automated ecommerce accounting.
The Closing Phrase
Are you prepared to save lots of time and get higher visibility into your monetary efficiency? Discover out why main ecommerce retailers, accountants and bookkeepers all over the world put their belief in A2X.
Study extra about A2X right here.