| Feature | Ledger Labs’ Accounting Services for TikTok Sellers | Other Services |
|---|
| Order to Cash Reconciliation | Each TikTok Shop payout tied to the general ledger. Product sales, refunds, discounts, creator fees, and platform deductions match TikTok reports and bank activity. | Deposits posted in bulk at month end. Several lines grouped together. Variances have no clear path back to payouts. |
| Creator and Influencer Payments | Campaign payouts, affiliate commissions, and collaboration fees recorded to the right expense lines. Clear view of campaign cost by product and period. | Creator payments tracked offline. Costs mixed into general expense. No link to items or campaigns. |
| Campaign and Ad Cost Tracking | TikTok ads, promo codes, and live sale boosts mapped to products and dates where possible. Period costs tie to statements. | Ad spend posted to one bucket. No item level alignment. Hard to judge return on spend. |
| Returns, Refunds, and Chargebacks | Refunds linked to the original sale with tax and COGS reversals when applicable. Disputes posted with related fees and tied back to the order. | Refunds booked as negative sales only. Taxes and COGS reversals missed. Net figures distorted. |
| Inventory and COGS | Inbound, adjustments, and write offs recorded. SKU level costing using FIFO or weighted average as selected. COGS posts from movement data so margins stay readable. | COGS based on rough percentages. Inventory and GL drift apart. Write offs handled late. |
| Sales Tax Compliance | Multi state tax tracked. Marketplace collected tax and seller collected tax posted to the right liabilities. Filing calendars maintained. | Tax held in revenue or posted loosely. Filing numbers do not match collections. Notices and penalties become common. |
| Expense Categorization for Ads and Creators | Ad spend, creator payouts, shipping, packaging, and tools coded to consistent categories. Reports show where money moved each month. | Expenses coded inconsistently. Reviews take hours. Patterns are hard to see. |
| Payout Timing and Reserves | Payout cadence, holds, and reserves explained by period. Forecast shows when cash will arrive and what clears after fees. | Payouts treated as income. No timing view on holds. Cash surprises near payroll or inventory buys. |
| Custom Financial Reporting | P and L, balance sheet, and cash flow with schedules. Views for net sales, returns, creator costs, ad spend, and contribution margin by SKU or campaign. | Generic statements with limited detail. Changes are hard to explain. Decisions rely on guesswork. |
| Real Time Checks and Alerts | Simple controls flag mismatched payouts, unusual refunds, and duplicate entries. Issues raised early with next steps. | Irregular activity noticed late. Corrections handled after the month is closed. |
| Multi Channel Integration | TikTok, Shopify, and other channels consolidated with a consistent chart of accounts. Channel views remain available for reviews. | Separate files per channel with inconsistent coding. Roll ups require manual work each month. |
| Integrations and Setup | Clean mappings to QuickBooks or Xero. Entries land in the right accounts on first pass. Exceptions reviewed and corrected. | CSV imports without controls. Data posted to catch all accounts. Cleanup required at close. |
| Month End Close and Audit Trail | Close checklist covers bank, payouts, inventory, payables, and tax. Source files attached. Reviews logged for continuity. | Ad hoc close in spreadsheets. Limited backup for entries. Rework increases at year end. |
| Payroll and Contractor Management | Staff payroll and contractor payments recorded correctly. Summaries tie to bank and GL. Taxes and benefits posted to the right cost centers. | Lump sum entries with delayed tax and benefit posting. Cost centers lack accuracy. |
| Flat Monthly Pricing | One predictable monthly fee covers TikTok accounting, reconciliations, close support, and reporting. No surprise add ons. | Hourly billing and per task adders. Costs rise when you ask for help. |
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