- Original Poster
- #1
Hi,
We have recently started working with an accounting company for our e-commerce company and it seems to me they are not doing it correctly for our business needs as all they ask for is our paid and due invoices but do not ask for the following information.
Our daily sales (split between our website, ebay, amazon and play.com)
Our stock levels
Our current bank balance and when the actual payments come out of and into our account.
Are there any accountants that have experience with working with sage and e-commerce companies successfully? We have been looking at www.getconnect.co.uk to synchronise everything automatically
- Do we need to account for every single sale we make individually and compare this to the stock value to calculate the profit made on daily sales?
- If above is true then will we need to keep the product information and stock levels accurately stored in sage.
- How do you allocate the payments to the actual orders as they do not come into our bank immediately. For example we have the following scenarios
1) Website orders go through sagepay and daily batched into our account at midnight. which takes 2 working days to go into our bank account
2) website orders go into paypal. ebay orders also go into paypal. Paypal take their fees from the payments so we dont get the full sale amount. These payments are manually transferred every few days into our bank account which takes 3 to 5 working days
3) Amazon sales are stored in the amazon account for 2 weeks and then transferred into our account less the amazon fees and this takes 7 to 10 working days.
Do we need to reconcile which paid orders go along with what payment is coming into our bank account?
Thanks for any advice
Tahir
We have recently started working with an accounting company for our e-commerce company and it seems to me they are not doing it correctly for our business needs as all they ask for is our paid and due invoices but do not ask for the following information.
Our daily sales (split between our website, ebay, amazon and play.com)
Our stock levels
Our current bank balance and when the actual payments come out of and into our account.
Are there any accountants that have experience with working with sage and e-commerce companies successfully? We have been looking at www.getconnect.co.uk to synchronise everything automatically
- Do we need to account for every single sale we make individually and compare this to the stock value to calculate the profit made on daily sales?
- If above is true then will we need to keep the product information and stock levels accurately stored in sage.
- How do you allocate the payments to the actual orders as they do not come into our bank immediately. For example we have the following scenarios
1) Website orders go through sagepay and daily batched into our account at midnight. which takes 2 working days to go into our bank account
2) website orders go into paypal. ebay orders also go into paypal. Paypal take their fees from the payments so we dont get the full sale amount. These payments are manually transferred every few days into our bank account which takes 3 to 5 working days
3) Amazon sales are stored in the amazon account for 2 weeks and then transferred into our account less the amazon fees and this takes 7 to 10 working days.
Do we need to reconcile which paid orders go along with what payment is coming into our bank account?
Thanks for any advice
Tahir
