Professional BigCommerce accounting experts are essential for ensuring smooth financial management in e-commerce businesses. Our specialized knowledge helps streamline processes, increase efficiency, and ensure compliance with ever-evolving regulations. Here’s a more detailed breakdown of the services we provide:
We integrate financial data from your BigCommerce platform directly into accounting software, automating the syncing of transactions such as sales, refunds, and shipping costs. This eliminates manual entry and reduces the risk of errors. With real-time updates, we ensure that you have accurate financial records instantly, allowing for more efficient operations.
We also provide real-time financial reporting, offering you access to profit and loss statements, balance sheets, and cash flow analysis. These reports are updated automatically with each transaction, giving you an up-to-the-minute snapshot of your business’s financial health. This enables you to make quick adjustments to pricing, inventory, and other key business decisions.
Additionally, we handle inventory and cost tracking by setting up systems to monitor stock levels, order quantities, and overall cost of goods sold. We ensure that your business can track and manage inventory efficiently, avoiding overstocking or stockouts, while providing the insights needed to adjust pricing and increase profitability.
When it comes to tax compliance, we ensure that sales tax is automatically calculated for each transaction based on your customer’s location. We stay up-to-date with changing regulations and tax laws to make sure your business is always compliant with local and international requirements. This helps avoid costly penalties and keeps your tax processes smooth and efficient.
Cash flow management is another critical aspect we assist with. We create detailed reports and forecasts that track incoming and outgoing payments, ensuring your business can cover operating expenses. By providing insights into when to expect cash surpluses or shortages, we help you plan for high-demand periods and avoid financial disruptions.
We also help you analyze the profitability of individual products by calculating the costs of goods sold, shipping, returns, and other associated expenses. With this data, we identify low-margin items and help develop pricing strategies that maximize profitability.We suggest adjustments where needed to ensure your store is as profitable as possible.
In terms of long-term financial planning, we assist in setting achievable goals, budgets, and financial forecasts. We help develop strategies for scaling your business, investing in growth opportunities, and managing debt, ensuring your financial foundation is solid as you expand.
Finally, we streamline payroll management, ensuring that your employees and contractors are paid accurately and on time. This includes calculating payroll, managing tax withholdings, and staying compliant with local and federal laws. Outsourcing payroll to us allows you to focus on business growth without worrying about payroll errors or compliance issues.
My main problem always has been to know my accurate profits & this is precisely what Ledger Labs helped me with. They went through my entire supply chain costs, my monthly operational expenses, and COGS and got me the correct costing of my goods and the cost of running the business. Now I know how much I need to sell & at what price I should sell it to be profitable.
Ariel Robinson CEO & Founder