E-commerce accountants are incredibly important to the success of your online business. Business accounting is always a challenge. With e-commerce, there is also the added challenge of working with a digital platform and processing a large amount of transaction data. As an online entrepreneur, it is therefore advisable to hire a good e-commerce accountant.
But what exactly does an e-commerce accountant do for you? In this article, we’ll explain what such an accountant does and how they help you as an online entrepreneur. We’ll also tell you about the best accounting tool for online entrepreneurs and accountants!
What does an e-commerce accountant do?
An e-commerce accountant is involved in preparing financial statements, keeping financial records and advising on tax matters. However, unlike traditional accountants, e-commerce accountants also have to keep up with the latest technologies and the special challenges of working in a digital business environment. In 2021, for example, the One Stop Shop system was introduced, which has changed the accounting of many (online) entrepreneurs.
It is also important to remember that an e-commerce accountant not only keeps track of finances, but also advises entrepreneurs. For example, a good accountant helps with setting correct prices, managing costs and making investment decisions.
Accountant for e-commerce & VAT
E-commerce accountants have extensive knowledge of VAT legislation, which is important for maintaining the financial records of an online business. For example, they can advise entrepreneurs on the correct VAT rates for products and how to process them in accounting. They also know the special rules for VAT in e-commerce, such as the rules for VAT rebates and VAT exemptions for small businesses. A good e-commerce accountant will ensure that VAT returns are submitted on time and correctly. This way, entrepreneurs will not be left with fines or other tax problems!
An important aspect of an e-commerce accountant’s job is automating financial processes. This saves time and reduces the risk of errors. With the right software, e-commerce accountants can also gain real-time insights into the company’s financial situation, making important decisions easier.
E-Commerce Accountant & Staxxer
An example of such software is Staxcloud . This software gives entrepreneurs and accountants a real-time overview of all VAT flows and tells you when and where you have to pay VAT. Entrepreneurs can also manage their own VAT affairs through the software.
But it is also an important and good tool for auditors to understand the financial situation of companies. Since the overview is in real time, the software also serves as a control tool for the accountants. Through the software, you can even apply for VAT registrations and outsource European VAT declarations (including your one-stop-shop declaration ). This also makes the job of an e-commerce accountant much easier!
Are you an e-commerce accountant and want to try our software? Or are you an entrepreneur and want to know how we can help you? Then contact us.