What We Do Best
Accounting for eCommerce Sellers
we are good at what we do
We are accountants for Amazon
We are accountants for Amazon Stores. Whether Amazon is your primary sales channel or you are looking to expand. Many of our clients use Amazon which means we are completely comfortable in working with Amazon and the reports that it provides.
While spreadsheets and paper systems are a free and easy way to get started, they are really only effective for managing small volumes of data. And even then, it’s time-consuming and easy to make mistakes.
If you’re serious about selling on Amazon, it is important to make sure that your systems are robust so that they can handle larger transaction volumes without running into issues.
Once a proper accounting system is set up, it doesn’t take any longer to do the books, but you get much more reliable data as a result.
In the past, digital accounting systems were operated on servers and company computers, which required constant backups and software updates. Now, Nimbus eCommerce system is remotely hosted in the cloud.
This eliminates the need for duplicating accounts and updating software – or even downloading software in the first place. With cloud accounting systems used at Nimbus, you can access your books from anywhere in the world, and securely share information as required.
Confused by Amazon Seller Accounting?
Here at Nimbus eCommerce we know how Amazon works, so whether you want to change from a sole trader to a limited company or register for European VAT, we know the easily way of doing this.
We work with Amazon sellers every day to help with everything from setting up a new company, VAT compliance, expanding to new markets and self assessment. We know the requirements for each marketplace in the US, EU and UK so your limited company can grow seamlessly in these markets. We can help you when reclaiming import VAT and ensuring that you register for VAT when it’s right for you.
Here at Nimbus eCommerce we use modern technology to connect to your Amazon account so we can split out FBA fees, reimbursements, sales, selling fees and settlements.
If you have a cloud accountancy package such XERO set up already, we are happy to work with this – or we can advise on the best cloud accounting software for you.
As cloud accountancy partners with several providers, we even have access to discounted rates for some of these packages.
We are trusted partners with: A2X, Dear Inventory Systems, XERO and more.
we have no limits
Why Choose Us?
Selecting Nimbus eCommerce to be your accountants will be a significant and important decision for your business, whether you are a large-scale organisation or a small private business.
we aren't afraid of trying new things
What can Nimbus eCommerce do for you?
As Amazon accountants we specialise in business models of Amazon sellers, and various types of businesses (eg. dropshippers) that sell on the platform.
We do much more than simply look after your books. Your business as an Amazon seller needs an accountant with industry knowledge. An Amazon accountant understands the complex eCommerce environment, helping you find opportunities for tax efficiency improvements and correctly reporting your VAT liabilities.
As experienced Amazon accountants, we can help you set up a new company, simplify your accounts, create tailored strategies for growth, including profit maximisation and more. You could find you’re struggling to keep on top of balancing your finances as an Amazon seller. In that case, you need a specialised Amazon accountant.
We understand the requirements of the Amazon platform and the new eCommerce VAT rules.
Nimbus eCommerce has its own unique techniques when it comes to software integration, with multiple sales platforms, PSPs and inventory apps. We can help you find the right combination of apps and software for you, and ensure it translates seamlessly into your accounting software XERO. This will streamline your processes, save you time and allow you to make more informed business decisions about the future of your company.
We will help you every step of the way to your eCommerce Business success!
Amazon and XERO accounting integration
Each sales platform or marketplace has its own style of reporting, along with differing rates of VAT to make things extra confusing. We understand the frustration of trying to manage all of this information and translate it into a coherent set of accounts. We have experience with all the major platforms and will ensure that sales data flows effortlessly and accurately into your books, meaning that you always have a clear picture of your cash flow.
Nimbus eCommerce are XERO Silver Partners and we are keen advocates of this revolutionary cloud-based software. It’s a powerful accounting solution for online sellers, that makes tracking your finances a breeze. It is cloud based, meaning that you can keep on top of your finances on the move, with live and accurate data at your fingertips.
Amazon integration using A2X
Amazon platform works extremely well with A2X. They are a match made in accountant heaven and we can help you integrate them with ease. A2X translates sales data from Amazon and posts it directly into XERO, removing the need for manual entry.
We can introduce you to the benefits of an inventory app to help you with stock control. More and more website sellers are relying on apps such as Dear Inventory Management, to manage their stock. When you consider the benefits it’s easy to see why. Dear Inventory is cloud based and provides live stock updates wherever you are.
This takes the grunt work out of inventory management and eliminates human error. It also provides sales analysis to show which lines are moving plus historic sales trends, enabling you to make smarter decisions.
important things you should know
Questions And Answers
The definition of eCommerce accounting is reporting about your eCommerce business. Ecommerce accounting refers to collecting, analyzing, organizing, and reporting financial data related to business transactions and assets within an eCommerce business. There are several things your eCommerce accounting includes:
1. Bookkeeping, which lists every transaction. For example, when you accept products to your storage, or sell on Shopify, or have to accept back a pair of shoes on Amazon. Bookkeeping keeps track of every money or asset movement, and provides a document covering every such event.
2. Management reports, which gather all the sales data and try to make sense of it. For example, how much of each product you sold, what are the costs of operating every channel, and where do you actually make money.
3. Tax filing & statutory reports. These depend on where you sell, for each government has a different tax system. Tax reports constitute a very detailed recount of every transaction and the categories they fall under. Depending on the categories, different types of tax are derived.
Xero is a bookkeeping software we use. If you operate it yourself you‘ll have to manually go to Xero, choose ‘Accounts’ tab and press ‘reconcile’ each time. We connect your Shopfiy or Amazon, account directly and upload data every 24 hours. This allows for the most efficient, reliable and up to date reconciliation of your eCommerce sales.
Absolutely. We make the transition seamless on our end. We’ll get in touch directly with your current accounting service provider, take over all your financial documents, and audit them to make sure your company is compliant. We check for any loose ends with Revenue, organise historical data, and then prepare and file necessary reports. We offer up ongoing advice about relevant tax exemptions, helping you be smarter with your taxes. Now that your accounting is in good hands, you can focus on what you do best: running your business.
Our firm specializes in small companies, which satisfy two of the three conditions listed below:
- The company employs up to 50 people
- The annual turnover is less than €12 million
- The company total assets do not exceed €6 million
If this sounds like your company, that means we are the right accountant for you!
You have come to the right place! We can advise you on the best legal structure for your business and guide you through the entire process. If you wish, we can complete the registration on your behalf to save you the hassle. This way you can be certain that your new business is fully compliant with all requirements.
This will depend on the type of business you are running, the scale and the legal structure. If you are self employed and just trading on a part time basis, probably you just need to file your income tax return once a year. However, if you run a limited company, you will have many more reporting obligations and will definitely benefit from professional accounting services. We can advise you on the best option but the choice is always yours.
Watch this short video to find out how your small business can benefit from hiring a professional accountant.
Yes we do. Any small size business can benefit from our professional services and this applies to sole traders as well. We can tailor our offer to suit your particular needs, even if you are just trading part time. Please get in touch and we will be happy to assist!
The shares in a company are owned by its shareholders. In case of limited companies the liability of shareholders is limited to the value of shares they hold. The important factor is that a limited company is a legal entity separate from its owners. If you are wondering what the best legal structure is for your business, please get in touch and we will happily advise you.