We then guide you through the process of using those insights to make informed, data-driven decisions. We are here to grow with you and guide you through your ecommerce business decisions with accurate, dependable numbers. Our process and services are flexibly structured in order to accommodate your specific needs. You ledgergurus get an entire team of experts with years of eCommerce accounting experience & knowledge to help you succeed. This team performs basic accounting tasks for our clients. They communicate regularly with an accounting manager and the client to ensure that all the client’s ecommerce accounts are reconciled and accurate.
How to Calculate Cost of Goods Sold for Ecommerce Sellers
A general ledger, or accounting ledger, is one type of ledger. It’s where the data from other ledgers is consolidated. Being 100% virtual accountants, we use a lot of technology and are built on modern, cloud-based accounting solutions.
Managed Returns by Avalara
All of our accountants have either accounting or finance degrees and are Certified Public Accountants (CPA) or Certified Management Accountants (CMA). We are in the business of helping other businesses succeed. We’ll then guide and show you how to dissect & analyze the data to make key business decisions.
You focus on growing your business and living your life while we look after the numbers. Here’s how we do that:
Learn how to choose a sales tax tool that is right for your business. Receive instructions for registering for permits & properly setting up sales channels to collect sales tax. Use screen shares to dive into setting up channels and sales tax tools, or any other issues you’re having. If you like being involved in all aspects of your sales tax, LedgerGurus has two offerings that allow you to take the reins and learn how to become compliant. Our onboarding process ensures we understand your business and provide the best possible service to meet your needs.
A general journal records every business transaction in chronological order—it is the first point of entry into the company’s accounts. The general ledger is the second entry point to record a transaction after it enters the accounting system through the general journal. In addition to the accounting ledger, there are several kinds of ledgers that you might use in the course of bookkeeping for your business. Most accounting software will compile some of these ledgers while still letting you view them independently. Depending on the size of your business and what your business does, you might not need to use all of them. Here are some common types of ledgers and when to use them.
A cash book functions as both a journal and a ledger because it contains both credits and debits. Because a cash book is updated and referenced frequently, similar to a journal, mistakes can be found and corrected day-to-day instead of at the end of the month. OR, if you prefer to hand it all over to the experts, https://www.bookstime.com/ can take care of everything. If we’re a good fit for your business and can solve your needs, we’ll provide you with a proposal. Having your A/R processes done correctly and timely affects cash flow tremendously.
- Have more time to work on what you love when you spend less time on bookkeeping.
- The general ledger is the second entry point to record a transaction after it enters the accounting system through the general journal.
- We are passionate about helping business owners build their business with better numbers.
- A general ledger records transactions and helps generate financial statements for investors, creditors, or even regulators.
- As the Chief Operating Officer at LedgerGurus, Stephen is focused on growing and scaling the business.
- We have all the knowledge and experience to help your business succeed.
- When you work with LedgerGurus, you aren’t just getting an accountant or bookkeeper, you are getting an entire team of experts.
- We implement robust controls for peace of mind, protecting your business and employees.
- Being 100% virtual accountants, we use a lot of technology and are built on modern, cloud-based accounting solutions.
- Stephen has an MBA from the University of Utah, a Bachelor of Science in Civil Engineering from Brigham Young University and is a CISSP.
- We can help you modernize your accounting and be your accounting department without you having to hire and manage one.
- “We have a lot of incredibly capable people who have small children at home who I see as the future of the industry.
They direct our team of accounting specialists and and handle the big pieces of ecommerce and inventory accounting. They sign off on all the financial statements and meet with clients to discuss the health of their businesses. During onboarding, our experts set up connections between your online stores and Avalara’s system. These connections automatically import your sales data to be used in filing your sales tax returns. An accounting ledger is used to prepare a number of reports, such as balance sheets and income statements, and they help keep your small business’s finances in order. We understand that, for many online sellers, keeping up with sales tax compliance is a huge financial burden.