An online seller, paid by several processors
The client sells online and is paid in net settlements from several processors and platforms, which is where ecommerce books usually come apart.
SF Business Solutions splits each payout back into sales, fees, refunds and reserves, tracks inventory and cost of goods, and files the return. Best for a seller who wants one team on the books, the sales tax thresholds and the return, from $250 a month.
The situation
A marketplace does not pay you your sales. It pays a net settlement: gross sales, less referral and fulfilment fees, less refunds, less whatever it is holding in reserve. Record the deposit as revenue and the profit on the page is fiction, and the tax return is built on it.
With several processors and platforms in play, the client had a different version of the truth in each one.
What we do each month
Every month starts with the payouts, because nothing else is right until they are split correctly.
- Each payout matched to its bank deposit, then split into gross sales, fees, refunds and reserves.
- Cost of goods recorded when units ship, not when the marketplace pays, so margin is real.
- Inventory carried as an asset, with landed cost rather than the invoice price alone.
- Sales tax thresholds tracked by state, so registration is a decision rather than a surprise.
- The month closed 5th–15th of the following month, with the reports.
What changed
Channel by channel, the client can see what actually makes money. The tax return is prepared and filed from those same books by the same team.
In their own words
“I run an ecommerce business so my books can get messy with all the different payment processors and platforms, but they keep everything…”
Left as a public Google review.
How to start
Three steps. The first one is free.
- 1
Book a free consult
A 1-hour call about your books, your software and what you need.
- 2
Give us access
Invite us to QuickBooks Online or Xero and share your bank and card statements.
- 3
We take it from there
Cleanup first if you are behind. Then we close each month between the 5th and 15th of the following month, depending on your documents.
Great to work with! Always available & gets things done quickly. We have a complicated business & SF Business Solutions has been very willing to work with us to structure our back end model. 10/10 recommend!
Which platforms do you handle?
Shopify, Amazon, Etsy, eBay, Walmart and TikTok Shop payouts, plus Stripe, PayPal and Square, matched to the bank deposit.
Do we need a connector like A2X?
Not always. It depends on order volume and how many channels you sell on; we will tell you when it earns its price.
Can you handle sales tax?
We track where you cross a state's threshold and keep the records behind it, and tell you when you need to register.
What does it cost?
Monthly bookkeeping starts at $250 a month, and the final price depends on channels, volume and inventory.
Is the tax return included?
It is quoted alongside the bookkeeping, and prepared and filed by the same team.
Related
Hand us this month’s books.
Pick a day for a free 1-hour consult.