How to Set up Your Ecommerce for Wholesale B2B Sales

June 29, 2023

Learn more about how to expand your ecommerce brand to selling B2B across wholesale and retail channels.

How to Set up Your Ecommerce for Wholesale B2B Sales

These days, many Shopify and WooCommerce brands have branched out beyond direct-to-consumer (DTC) and now sell multi-channel - retail and wholesale, via Faire or other marketplaces, to big box stores like Walmart, Target, Home Depot, Whole Foods, Best Buy, or smaller businesses / mom-and-pop stores.

When it comes down to it, the basic principles of accounting and bookkeeping for online inventory businesses are the same whether your selling ecommerce DTC or wholesale B2B ecommerce. In this article, we'll cover how to best set up the financial processes for your B2B wholesale ecommerce business.

1. How to create your wholesale pricing strategy

Selling your products to wholesale B2B customers, generally means selling at a deeper discount than you sell to your direct-to-consumer customers.

But keeping an eye on the percentage of your discounts from your total sales is crucial to make sure it won't negatively impact your gross profit or contribution margin.

Check out this free pricing calculator to make sure you properly price your products to increase your profit and not just your top-line revenue.

Once you have your price established, you can consider the minimum order quantity (MOQ) or minimum order volume (MOV) based on your profit margin.

You'll also want to create flexible payment terms like net 30 days from delivery since many B2B customers won't have the cash on hand to pay full wholesale orders upfront.

2. How to invoice your wholesale B2B customers

Many larger wholesale and retail customers may manage invoicing through EDI (Electronic Data Interchange). EDI invoice, also known as E-invoice is a digital invoice sent completely through electronic channels.

For other B2B wholesale sales, you can create and send an invoice directly through PayPal, Stripe, Shopify B2B, or via your accounting software, like Finaloop.

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3. How to find the best bookkeeper for your B2B wholesale business

When looking for a bookkeeper or bookkeeping service for your wholesale B2B ecommerce business, make sure to find a solution that can:

  1. Provide you with ecommerce and inventory expertise
  2. Sync data directly from your sources of truth so you have a more real-time view into your financials.

Finaloop works with hundreds of ecommerce brands that sell direct-to-consumer (DTC), and multi-channel - retail and wholesale, via Faire or other marketplaces, or directly to big box stores or smaller businesses / mom-and-pop stores.

For B2B sales through marketplaces that connect to Shopify, such as Faire, Finaloop syncs the data directly through our Shopify integration in real-time into your Finaloop dashboard and financials.

For other B2B sales, you can create an invoice in Finaloop or send customer invoices through Stripe or PayPal, in which case we can sync the data directly through our integrations.

TL;DR

Whether you need bookkeeping for wholesale, retail, or ecommerce, Finaloop through AI bookkeeping and AI accounting can help you ensure that your financials are up-to-date and 100% accurate. 

Sign up HERE to get your financials set up today.

About Finaloop

 

We are a technology company providing automated end-to-end accounting service to ecommerce businesses. Our system connects to your apps, syncs all your data and reconciles your books in real-time, replacing your bookkeeper, your accounting software, and your ecomm integrations. We offer reconciled books available 24/7, tax-saving insights, and a single place for all your financial data.

*The information provided on this website does not, and is not intended to, constitute legal advice. All information, content, and materials available on this site are for general informational purposes only. Readers are advised to consult with their attorney or accountant with any questions or concerns.*

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