MeruAccounting Bookkeeping For Amazon Sellers

As We all Know ecommerce platform is biggest platform that enables third-parties sellers to sell new or used products at a fixed price online.

Amazon is one of the biggest e-commerce platform for starting a new business.

So much so that some 100,000+ new Amazon businesses open their doors each year. Of course, not all of those businesses survive, and one of the primary reasons for that is poor amazon bookkeeping and accounting.

Why bookkeping is critical for amazon sellers?

Bookkeeping for Amazon sellers is important because it allows you to monitor how your business is performing over time.

Accurate and up-to-date bookkeeping allows you to catch discrepancies in a timely manner.While we think of an Amazon sellers’ business, bookkeeping and accounting are some of the last things that strike our mind. While bookkeeping might not be the most exciting subject, it is crucial to help Amazon sellers understand where their business stands as far as finances are concerned.

Cash flow Mangement:

Cash flow management is the process of tracking how much money is coming into and out of your business.This helps you predict how much money will be available to your business in the future. It also helps you identify how much money your business needs to cover debts, like paying employees and suppliers.

Cash flow is the term used to describe changes in how much money your business has from one point to another. Cash flow management is keeping track of this flow and analysing any changes to it. This helps you spot trends, prepare for the future, and tackle any problems with your cash flow.

The foundation of a sucessful small business as an Amazon sellers is its seller's bookkeeping.Proper accounting systems in place will ensure that your cash inflows and outflows are appropriately done, espaecially if it's still a startup.

Better Business Decisions

Accounting and bookkeeping for Amazon also help to extrapolate vital information to make informed decisions. Important information from this accounting data will allow you to acquire customers, analyze sales, inventory management, and operating expenses.

Understanding Tax Complexities

If regular bookkeeping is in place for your seller’s account, then these records will make tax season a lot more manageable for you. It will also help you unfold complexities related to taxes and help you muster tax benefits.

Further financing

In order to expand your business, if you ever require a loan, you’ll need to provide the creditor or the bank with various financial information. This is easy to do if your books are accurate and up-to-date. Systematic bookkeeping eases the financial reporting, which would’ve been a tedious task if not done regularly.

Product Management

Bookkeeping not only serves as a checker for the financial health of your online seller business but it also gives product insights through sales data. It becomes straightforward for the seller to identify which product sales are highest and which product sales are down. It can help you answer questions like, which products should I axe? Which should I double down on? How much inventory you should order etc.

Services offered by us

Bookkeeping

Your E-commerce business success will depend on how efficiently you manage your accounting books. Meru Accounting easily helps you to better manage your books of accounts and at the same time bids adieu to complexities in recording transactions and messy books.

Tax

Say goodbye to extensions and stay tax-ready all year long, Simplify taxes. Our integrated tax solution will help you eliminate the surprises and headaches that are associated with filing taxes and help you put more money in your pocket while taking the load from your shoulders.

Back office

Streamline your back office and keep a track of your payments, manage inventory and set up payroll, connect all of your important business data to make things simple.

We Software Used

Xero,Quickbook,Wave,Netsuite,Zohobooks,saasu,Odoo,

Bookkeeping in E commerce Industry

Bookkeeping is the act of tracking your company's financial transactions (in and out) by recording them digitally in accounting software or physically in a ledger.

Starting an E-commerce venture and opening an e-commerce store is an exciting progression for any entrepreneur. With an online shop, your products are available day and night, year-round, to an international array of customers and because of that e-Commerce businesses have the potential to grow very quickly, the result of which many small and medium sized sellers have made a chunk of money. However, it is a very popular fact that E-commerce businesses see an initial flourish but gradually their profit margin starts declining. One of the prominent reasons for this high burn is poor accounting activities by online sellers.

It is a common myth that starting an ecommerce business on Amazon, Shopify, or a similar selling channel, you only need to focus on ordering inventory, managing inventory, shipping, driving traffic to your products, branding, etc. This is where many E commerce entrepreneurs and amazon sellers miss the hack “Accounting for your business”