How to Hire an Ecommerce Accountant for Your Business

In this guide, we will discuss

1. Ecommerce businesses require specialized accounting solutions due to their unique challenges, including multi-channel sales, complex inventory management, and varying tax jurisdictions.
2. Key signs it's time to hire a finance professional:
   
   • Selling across multiple channels
   • Seeking funding
   • Struggling with accounting software
   • Having difficulty balancing payouts
3. Different financial professionals serve distinct roles:
   
   • CPAs: Licensed professionals for high-level services and tax planning
   • Accountants/Bookkeepers: Daily financial record-keeping and categorization

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Everyone in the eCommerce industry knows how critically ecommerce businesses need ecommerce-specific bookkeeping and accounting solutions to make it in this space.

We have compiled this article, which includes the telltale signs it’s time to bring an accountant on board, sets out the importance and uniqueness of eCommerce bookkeeping and accounting, discusses which features brands should look for, and surveys the top eCommerce accounting services in the space today, to help you find the perfect accounting fit for your company.

When to Hire an eCommerce Accountant

Knowing when to hire an accountant can be the difference between financial clarity and chaos. As your business grows, so do the complexities of managing your finances, and there comes a point when handling your books on your own is no longer sustainable, due to:

Multiple sales channels

Expanding across multiple sales channels – such as Shopify, Etsy, and Amazon – is a great way to maximize potential, but also brings added financial complexity. Each platform processes transactions differently, with varying fee structures, payment timelines, and refund policies. Managing this variety requires detailed bookkeeping to ensure that every transaction is properly recorded and reconciled.

An accountant or bookkeeper specializing in ecommerce can streamline this process by consolidating data from your sales channels and ensuring accuracy in your financial reports. They’ll help you navigate platform-specific complexities while keeping your books balanced and up-to-date, giving you clear insights into the profitability of each channel and avoiding the risk of financial errors.

Selling in multiple tax jurisdictions

Selling in multiple tax jurisdictions introduces a new level of complexity to your ecommerce business. For example, if you’ve reached sales tax thresholds in various states, you’re legally obligated to collect, remit, and report taxes in each location. 

An experienced accountant (generally a tax CPA) can take the guesswork out of tax compliance. They’ll analyze your sales data to determine where you have nexus, calculate the correct amounts to collect and remit, and ensure your filings are submitted on time.

Looking for funding

If you’re seeking funding, your financials must be in top shape. Lenders and investors want to see clean, accurate financial records, including profit and loss statements and balance sheets. They’ll also expect your business to use accrual accounting, which provides a more accurate picture of performance than cash accounting.

A finance professional can ensure your financials meet these standards. They’ll prepare detailed reports showcasing the health of your business and provide insights into metrics like cash flow and profitability, and help you forecast future performance, often critical for securing loans or attracting investors.

Having trouble with your accounting software

Accounting software can be a powerful tool, but set-up and use requires time and expertise. Many business owners struggle with initial configurations, understanding key features, and maintaining consistent entries, leading to frustration and inaccuracies.

An accountant or bookkeeper can simplify this process by setting up your software correctly and tailoring it to your needs. They’ll train you on best practices ensuring the software integrates seamlessly with your sales channels and payment processors. 

Struggling to get payouts to balance

One of the most common frustrations for brand owners is not being able to balance payouts. It’s easy to mistakenly record the total payout as revenue, even though it may include deductions for fees, refunds, and taxes. This can lead to discrepancies in your books, making it difficult to gauge true financial performance.

An accountant or bookkeeper can resolve these issues by reconciling payouts and categorizing them properly. By partnering with an accountant, you’ll avoid the headaches of unbalanced payouts and gain precise understanding of your financial health.

Which finance professional am I looking for?‍

‍There are lots of misconceptions regarding which financial persona you need for your eCommerce business. We will provide insights here into what eCommerce accountants actually do.

CPA vs Accountant/Bookkeeper

The roles of an ecommerce CPA and an ecommerce accountant or bookkeeper might seem similar, but they possess distinct characteristics and levels of professional expertise.

A CPA (Certified Public Accountant) is a licensed professional who has passed the rigorous CPA Exams and meets state-specific licensing requirements. This certification allows them to provide a comprehensive range of high-level financial services, including audit, tax and representation before tax authorities.

In contrast, an ecommerce accountant or bookkeeper does not necessarily have the same certification or advisory capabilities as a CPA. 

Bookkeepers are financial data collectors. They are responsible for recording and categorizing financial transactions, reconciling accounts, and ensuring that financial records are accurate and up-to-date. Traditional bookkeepers don’t necessarily have a degree in accounting/finance and aren’t necessarily full blown CPAs.

On a daily basis, they focus on maintaining financial visibility like checking accounting inboxes, processing bills and invoices, categorizing transactions, and updating cash flow. On a weekly basis, they schedule and verify payments, update cash flow, and track AP/AR. Bookkeepers validate purchase orders, credit memos and attachments, review indirect costs and organize vendor expenses. 

Monthly tasks involve reconciliations for bank accounts, credit cards, clearing accounts, and payment processors. Bookkeepers post income, COGS adjustments, pre-paid expenses and payroll, while reviewing AP/AR and inventory valuations. Month-end documents, including statements and reports, are saved for client access.

No Free Lunch

You, as a business owner, will need to be involved in the process. You will need to review your bookkeeper’s work, as nobody knows your business as well as you do, and fractional bookkeepers, working with lots of companies, will make mistakes. 

As such, on a daily basis, you’ll send over bills, invoices, and credit memos, along with responding to questions. Good practice is to flag anything unusual—big purchases, new banks, credit cards, or payment methods.

On a weekly basis, you’ll review and update POs, review cash flow and approve bills for payment. On a monthly basis, you’ll update POs, inventory counts, and note lost, damaged, or returned inventory, and provide the team with data, such as: SKUs/costs, inventory quantities, and inbound inventory data.

Before meeting the team, review reports, come with questions, and follow up afterwards if anything looks off.

Why Hire an Ecommerce Accountant 

‍So, you need an accounting service, but should you hire a generalist bookkeeping/accounting firm, or an Ecommerce specific one?

Ecommerce businesses operate in a fast-paced and complex environment that presents unique financial challenges. General accounting expertise doesn’t address these challenges.

The distinctions between eCommerce accounting and traditional accounting systems lie in their core functionalities and adaptability to online business models. Traditional systems work well for brick-and-mortar businesses with straightforward revenue streams and predictable transactions. On the other hand, ecommerce accounting services are designed to seamlessly integrate with multiple sales channels.

By bridging the gap between ecommerce operations and financial management, ecommerce accounting services empower businesses to streamline workflows, gain actionable insights, and focus on scaling their operations without being bogged down by bookkeeping, making it an invaluable part of the stack for online businesses looking to thrive in today’s competitive landscape.

Ecommerce accountants will be able to help with the following:

Navigate the ecommerce landscape

The ecommerce industry is complex, with high-volume transactions, diverse product lines and dynamic sales strategies. Managing fluctuating inventory across multiple SKUs, multi-channel sales and reconciling payments from various sales channels, managing your cash flow, understanding seasonality and staying compliant with tax regulations are just a few of the challenges ecommerce brands face. 

An accountant specializing in ecommerce understands the nuances of online sales, from platform fees to refund policies, and can implement systems that streamline your operations, giving you valuable insights into your business performance and how to avoid costly errors.

Embrace technology for financial efficiency

The digital-first nature of ecommerce requires a tech-savvy approach to financial management. From cloud-based accounting tools to integrations with sales platforms and payment processors, leveraging technology is key.

Ecommerce accountants are well-versed in the latest financial technologies and understand how to tailor them to the needs of online businesses. They can pull data from multiple sources, automate repetitive tasks, and create dashboards that provide valuable insights, empowering you to make informed decisions based on up-to-date financial information.

This ensures that sales data is automatically synced, reducing the risk of manual entry errors and saving significant time. Additionally, ecommerce accounting services often include capabilities such as real-time inventory updates, precise cost of goods sold (COGS) tracking, and customizable financial reporting.

‍The Right Process for Hiring an Ecommerce Accountant‍

Now we’ve established that you need an ecommerce bookkeeper, but finding the right ecommerce accountant requires a structured approach to ensure they meet your business's unique needs. 

Here’s what you should do:

Define Your Needs

Start by assessing your business’s size, financial complexity, and specific requirements. Use this to create a job description for potential accountants.

Set Your Budget

Determine how much you’re willing to invest in an accountant based on your business revenue and priorities. 

Prepare questions

Ask candidates about their experience with ecommerce businesses like yours and the outcomes they achieved. Explore their familiarity with cloud-based tools, their communication methods, and how they track and report progress (check out key features you should look out for below).

Find an Accountant

Search for accountants on platforms like LinkedIn, accounting directories, or through industry referrals (or take a look at our top five below). Freelancers may offer flexibility and affordability, while firms provide a team approach with specialized knowledge. Weigh the pros and cons to decide what fits best.

Key Features to Look for in Ecommerce Accounting Services

The best accounting services for ecommerce rely on advanced features that are vital for online businesses but often absent when it comes to traditional bookkeeping: 

Inventory Accounting

Integrated inventory management streamlines financial reporting by connecting stock data with accounting records. This integration allows for accurate calculation of COGS, which is essential for understanding profitability.
It means you are getting detailed reports on inventory turnover, to identify best-performing products and optimizing your offering accordingly.

Another advantage of advanced inventory management is its ability to handle complex structures. Additionally, inventory management is a critical feature of eCommerce accounting services, ensuring that stock levels are always accurate and up to date. This reduces the risk of overselling or stockouts, which can lead to dissatisfied customers and lost revenue.

Multi-channel sales integration

Ecommerce businesses often operate across multiple channels such as Shopify, Amazon, Etsy, and eBay. Other channel mixes combine wholesale and retail.

Multi-channel sales integration allows eCommerce accounting services to sync data into a centralized system, allowing brands to view all their transactions, refunds, and fees from various platforms in one dashboard.

Real-time financial reporting

A powerful feature of ecommerce accounting using cutting-edge software is real-time financial reporting, providing brands instant access to their financial health. Unlike traditional methods that rely on periodic updates and manual reconciliation, real-time reporting ensures that all financial data is always up to date. This enables business owners to make informed decisions, whether planning a new marketing campaign, adjusting pricing, or investing in inventory.

The ability to generate detailed and customizable reports is another advantage of real-time financial reporting. Businesses can analyze KPIs such as revenue, profit margins, and inventory turnover. These insights identify trends, including seasonal spikes in demand, underperforming products, and money-losing promotions, allowing brands to adjust strategies accordingly.
Moreover, real-time cash flow tracking ensures that businesses can address liquidity issues before they become critical.

User-friendly interface

User-friendly interfaces ensure accounting software and services are accessible to those without financial backgrounds. With intuitive navigation, clean layouts, and helpful visualizations, user-friendly reports and dashboards make it easy for business owners to manage, read, analyze, and use their finances without feeling overwhelmed. Step-by-step guides and tutorials simplify the learning curve, enabling users to become proficient quickly.

User-friendly services and tools also reduce errors. By guiding users through tasks, the UX ensures compliance and accuracy. Additionally, mobile-friendly reports allow brand operators to manage their finances on the go.

Ultimately, a user-friendly design empowers ecommerce entrepreneurs to take control of their financial management without needing an accounting degree.

The 5 Best Accounting Services for Ecommerce Businesses in 2025

It's not easy finding good accounting services, especially in the ecommerce space. In order to help you out, and make sure you don't get lost in the jungle, check out this article for the best ecommerce accounting services.

Finding the Top eCommerce Accounting Services

In the fast-paced world of eCommerce, financial management isn't just about keeping your books—it's a strategic edge that you need to beat your competition. Generic accounting solutions just don't cut it anymore due to the significant complexities of multi-channel, inventory forecasting difficulties, and tough cash flow patterns that are unique to online retail. Partnering with specialists who understand these challenges, allows eCommerce brands to go above and beyond the standard compliance of bookkeeping, and they can actually use their financials to fuel smarter growth and maximize profitability.

Enter Finaloop—the financial solution engineered specifically for eCommerce success. What sets Finaloop apart is their platform which seamlessly connects with your entire tech stack while automating tedious bookkeeping tasks, with top notch accountants providing all of your ecommerce bookkeeping in the backend. Finaloop's real-time reconciliation capabilities give you an accurate financial pulse at any moment, allowing you to use your financials for growth, all with real time data that you can actually trust. And to top it all off, this is supported by a dedicated team of eCommerce financial experts who deliver exceptional service powered by cutting-edge technology.

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Key Takeaways:

1. Choose an eCommerce-specific accounting service that offers:
   
   • Integrated inventory management
   • Multi-channel sales integration
   • Real-time financial reporting
   • User-friendly interface
2. When selecting a financial partner, consider:
   
   • Their expertise in eCommerce specifically
   • The scope of services needed for your business stage
   • Integration capabilities with your existing platforms
   • Real-time reporting and analysis capabilities