No matter what stage your e-commerce business is at, there is always room for growth. By utilising an e-commerce accountant’s specialist knowledge and tools, you can plan for a sustainable future with continuous growth.
Once your e-commerce business has found its feet, it is time to start planning for growth. Your first investment in this area should be to hire an e-commerce accountant, who can make sure your business reaches its true potential.
Tax Savings create Positive Cash Flow
First and foremost, e-commerce specialists, such as ourselves, are experienced at knowing what expenses are allowable in your sector, and what constitutes activities under the Research & Development tax credit allowance. If you are currently overpaying your taxes, you are tying up valuable capital that could be used to grow your e-commerce business.
An Expert Eye
Many entrepreneurs quickly conclude that accounting is not what they should spend their time doing. Your skills are valuable and irreplaceable, yet your time remains finite. By outsourcing your accounting to a specialist, you are freeing up valuable time that will enable you to concentrate on the growth of your business, rather than its day-to-day running.
Additionally, e-commerce is a complex area to account for, so even if you are experienced in carrying out accounting duties for your businesses, you may miss vital information that could result in missed opportunities for growth or overstretch your cash flow.
Technology First and Foremost
E-commerce accountants are among the most tech-savvy accountants in the world. The very nature of e-commerce means we need a strong foundation in digital tools to maximise your business. You simply won’t find this level of tech-utilisation in any other accounting sector.
At Unicorn Accounting, we are strong advocates for Xero accounting software for all e-commerce businesses. We use a combination of Xero and its many integrations and apps to create accounting systems that require minimal input due to automation and also give us the data we need to help you on your way.
How Xero Helps
Tools such as cash flow forecasting are priceless when in the hands of an e-commerce accountant, as it enables us to advise on how much you should draw and how much you should invest back into the business.
By using Xero Tracking we’ll be able to show you a breakdown of your profits by e-commerce platform, by payment method and by product line. We can discuss where you should be doubling down and where your business is being held back.
If you are ready to make your e-commerce store grow, get in touch today. Our team of e-commerce accountants specialise in helping businesses like yours maximise their growth. All our clients receive an app advisory service as part of their basic package, allowing us to match the right tech to your needs. No other business is quite like yours, so let us help it grow.
The best time to act is now.