We are accountants for eCommerce Businesses
Nimbus eCommerce have built up accountancy expertise in the eCommerce sector, providing XERO migration, integration and routine annual accounting through to fully outsourced Finance functions.
Whether you are a Limited Company, a Sole Trader, or looking to register a company correctly, we have you covered.
We help eCommerce businesses from formation all the way to sale. We deal directly with Revenue on your behalf to make staying compliant easy and hassle-free.
We provide all the advice and implementation work as well, so if for example it makes sense to file dormant accounts, we will proactively make you aware and help you file.
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.
What is XERO?
XERO is a cloud-based accounting software that allows users to be connected anywhere on any device. XERO is able to connect you for all your business needs. This helps us, your accountants, to be able to build strong relationships to support you in achieving your business and personal goals.
XERO allows us to do this by letting us take proactive steps to relieve the burden of accounting affairs, so we can share our expertise which will create new opportunities for you whatever they might be.
why choose XERO?
XERO has been designed from the ground up, it is built in a way to be simple, elegant and intuitive for small businesses, from eCommerce sector in particular. It makes accounting seamless and easy to use so in the end your books can be done faster, cheaper and better.
The best way to describe why you should choose XERO is to give you 7 reasons:
1. Award winning software
Once Forbes named Xero the Worlds Most Innovative Growth Company, in 2006 saw Xero’s first subscriber. Now Xero has over 1.5 million subscribers worldwide. Xero also has won the Canstar Blue award for small business accounting software four years in a row. Which compares value for money, customer service, ease of use, ease of integration, reporting and overall
2. Data & Safety in the Cloud
What is the Cloud? It is simply data being saved on the internet, so you can access it from anywhere and anytime. This means your Xero will automatically update for you without you even knowing so. From now on there will be no more software updates or desktop installs that can waste precious time. The next question you will be asking is how safe will your information be? Xero
works along side with Aura Software Security who have been a crucial part of their success. Xero uses the same level of security as internet banking and no one has access to your organisation on Xero unless you invite them.
3. Ease of use
Xero simply does make accounting beautiful. Small business can be set up in minutes and Nimbus eCommerce is one call away to help if you get stuck.
Xero is often a source of inspiration – it simplifies our finances and makes a usually complicated process easy.
4. Live data helps us support you in real time
Xero has helped us change the Client – Accountant relationship. We can present to you live business finances and reports as of today, so you are able to log on from anywhere, any place on any device to see how your business is doing. This could range from paying an employee while on holiday or getting an automatic reminder from Xero to pay an outstanding bill.
5. With Xero you don’t have to worry
And that’s because everything is automatically calculated for you and updates literally happen while you sleep, and you won’t even know that it has happened.
6. Xero helps your business succeed
It is a proven statistic that businesses who use Xero’s accounting software succeed greater then those without. This comes down to connectivity, with 92% of business that use Xero are connected to an advisor, 99% have an active bank feed and 40% are using app connections. All of these
connections are only a finger touch away.
7. Xero listens to its users
Analysing the feedback that they give, product teams innovate and shape Xero’s interfaces and products. They do this by the user sharing what is working, what could be better and what they want to see. Xero then implements this every 3-6 weeks by releasing new updates based on the reviews it receives.
automate your accounts
XERO implementation for your eCommerce business
We are accountants for eCommerce and we Will Help You in Xero Implementation
what do you think about?
Are you trying to choose the best accountancy software for your eCommerce business?
Cloud accounting software such as XERO, helps to simplify your day-to-day bookkeeping, invoicing and financial reporting.
We are partners with the major cloud accounting software providers; we understand how these applications work and how they fit with different businesses. We work with:
XERO, A2X, Dear Inventory Systems, Pleo, Hubdoc and more.
With all our subscriptions Nimbus eCommerce provide automated accounting. We have integrated cloud accounting software on a number of eCommerce platforms such as Amazon, Shopify, eBay, Allegro and many more.
Gone are the days when only big businesses had the systems to make life easier, now the small business sector has the best technology to change your business.
Stop worrying about your accounting and focus on your business. Our expert cloud accountants will make sure your books are kept in good order and provide real time updates of your finances.
In cloud accounting there are various fundamental bookkeeping tasks relating to financial transactions, with some of the most important being:
- Recording online sales
- Reconciling payment gateways
- Matching bank statements to pay-outs or invoices
- Monitoring and managing cashflow
- Matching outstanding bills to statements
- Keeping up to date and accurate records.
Thanks to cloud accounting software many of these tasks can be automated for you. It’s important to also be able to understand and interpret the data fed back to you in reports.
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.