E-commerce comes under accounting niches. The accounting and financial strategies of an e-commerce business are quite different from usual businesses that involve operations and logistics. It is highly recommended that e-commerce business owners hire ecommerce accountants with experience and expertise in this domain.
A general accountant won’t add much value to the firm, as the account and Finance of an eCommerce business depends on the optimum use of tools and software intended to give clear statistical data and generate financial reports and budget statements.
The firm’s budget and job roles and responsibilities are the two important factors that must be very clear before initiating the recruitment drive. This will ensure that the right candidates apply for the job and that your potential accountant doesn’t expect too much monetary benefit from the firm. Since you are looking for a specialist, the narrower the domain, the more efficient candidate you can find.
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Finding Your Specialist e-commerce Accountant
There are six questions you must ask before hiring the Specialist e-commerce Accountant:
- Do you require a bookkeeper and an accountant?
If you need a bookkeeper and/or an accountant usually depends on where you are in your business. First is an overview of the differences between bookkeepers and accountants. Bookkeepers record and organize the finances, and accountants analyse those records and provide financial advice.
- What must be the qualifications of the accountant?
Regardless of the industry you belong to, one of the most important things business owners need to be aware of is whether the accounting professional or company you hire has the right experience and qualifications. Are they mainly certified? For instance, Certified Public Accountants (CPA) or Institute of Chartered Accountants (CA) are two recognisable qualifications for accounting professionals.
- Is the accountant specialised in your e-commerce platform?
Every e-commerce platform and sales channel has its own set of challenges. Your accountant needs to understand how this all works. When using multiple sales channels, accountants need to be able to manage numbers from various sources that might behave uniquely. Understand their working experience. They should not learn as they go forward.
- Is he familiar with cloud computing and other cloud-based accounting software?
When we discuss cloud-based ecosystems, we are discussing devising a chain of apps (called the app stack or tech stack). All of these are integrated with the cloud and can communicate with one another in real-time. For example, accountants must have information on integrating sales channels with accounting software effectively.
- Is he well-versed with international tax obligations?
An accountant understands international sales tax is hard to find. Various global sales tax obligations can be very complex for e-commerce businesses. Be prepared to ask future accountants about your experience dealing with international taxes in your e-commerce business.
- Does he have expertise in inventory management?
Inventory management and tracking is not the first thing that comes to mind when considering e-commerce accountants. But inventory is a big part of your book. Accountants need to have a complete understanding of how inventory management works.
Summing Up
Several e-commerce accountants offer remote accounting and outsourced accounting services. Suppose you feel that the company is relatively new and the company’s budget is low. In that case, outsourcing accounting is a perfect option as the third-party service provider also does the management.
If you need help finding the perfect specialised e-commerce accountant for your firm, you can reach us at Experlu, and we will be more than happy to help you. Keep a few pointers in mind while recruitment, as e-commerce involves a lot of software and online tools; make sure that you hire a technically sound and keen person.