We are accountants for eCommerce Businesses
Apps Advisory for eCommerce
We are Experts in our field
Apps Advisory for eCommerce businesses
Nimbus eCommerce have built up accountancy expertise in the eCommerce sector, providing XERO integration, migration, accounting and inventory management services.
We can introduce you to the benefits of an inventory management app Dear Systems to help you with stock control.
More and more website sellers are relying on apps such as Dear Systems, to manage their stock. When you consider the benefits it’s easy to see why. Dear Systems 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.
What’s most important, you can integrate all your sales channels and warehouses on one platform provided by Dear Inventory Management System.
We learn about you
Your accountant will go through with you your current business structure, your current challenges and business goals.
Figure out how we can help
We discuss which services are appropriate, what your deadlines are, and how and where we can save you time, money and headspace.
We issue a proposal
We will give you a quote on the call and follow up with an e-signable engagement letter if you decide to get onboard.
Streamline your operational systems
Inventory Management System
Inventory Management purpose
The primary purpose of inventory management services provided by Nimbus eCommerce is to ensure there is enough goods or materials to meet demand without creating overstock, or excess inventory.
Advantages of Inventory Management
Accurate inventory management is key to running a successful eCommerce business. Tracking stock regularly can help avoid stock errors and other problems. The following are the benefits of strong inventory management:
Better Inventory Accuracy: With solid inventory management, you know what’s in stock and order only the amount of inventory you need to meet demand.
Reduced Risk of Overselling: Inventory management helps track what’s in stock and what’s on backorder, so you don’t oversell products.
Cost Savings: Stock costs money until it sells. Carrying costs include storage handling and transportation fees, insurance and employee salaries. Inventory is also at risk of theft, loss from natural disasters or obsolescence.
Avoiding Stockouts and Excess Stock: Better planning and management helps a business minimize the number of days, if any, that an item is out of stock and avoid carrying too much inventory.
Greater Insights: With inventory tracking and stock control, you can also easily spot sales trends or track recalled products or expiry dates.
Better Terms With Vendors and Suppliers: Inventory management also provides insights about which products sell and in what volume. Use that knowledge as leverage to negotiate better prices and terms with suppliers.
More Productivity: Good inventory management solutions save time that could be spent on other activities.
Increased Profits: A better understanding of both availability and demand leads to higher inventory turnover, which leads to greater profits.
A More Organized Warehouse: An efficient warehouse with items organized based on demand, which items are often sold together and other factors reduces labor costs and speeds order fulfillment.
Better Customer Experience: Customers that receive what they order on time are more loyal.
We Will Help You Implement Inventory Management System
If you are running an eCommerce business and want to focus on being able to run things without worrying about anything associated with accounting & inventory management, then you are in the right place.
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.