Many Shopify stores run their operations blind because they don’t have reliable financial systems in place.
That often goes for any business, but bookkeeping and accounting for Shopify stores is extremely unique and notoriously complex and these businesses are often inappropriately using systems designed for traditional businesses. Or even worse, they are using systems that they think are correct because they simply don’t know any better or they ‘don’t have the time’ to fix it or find a better solution.
The reality is that Shopify stores are totally different than traditional businesses and their bookkeeping systems need to be designed accordingly.
Unfortunately, many bookkeepers and accountants just don’t understand Shopify stores and the frustrations are just amplified come year-end tax time when it goes to the accountant. Enter Deuzeman CPA.
Deuzeman CPA has invested a lot of time developing and implementing bookkeeping systems for Shopify stores. The systems are reliable and consistent. We pride ourselves in being able to be your one-stop shop for all your tax, accounting, bookkeeping and payroll needs for your e-commerce business so that you can enjoy the convenience of all the help you need under one roof. This ultimately allows you to get back to focusing on running your business and looking after your customers.
We’d be glad to have a conversation with you to learn a little bit about your Shopify store and see how we can help you.
Bookkeeping & Accounting for Shopify Stores
Shopify stores have very specific bookkeeping and accounting needs. Deuzeman CPA solutions are designed to address those needs and include:
– Custom setup and integration of your Shopify store and QuickBooks Online for your unique business and reporting requirements
– Accurate and complete reporting of all Shopify store information for income statement and balance sheet activity for full visibility
– Proper recording of Shopify store information including sales, discounts and refunds to ensure all activity is being captured and reflected in the financials
– Reconciliation of Shopify store sales activity to payouts in the company’s bank account providing confidence that everything is accounted for
– Summarized and simplified reporting in QuickBooks Online as it is not meant to store thousands of small transactions and customers that can create system issues
– Conversion of transactions in foreign currencies to Canadian dollars to satisfy Canada Revenue Agency requirements
– Timely and precise reporting of Canadian and US sales tax activity and remittances to ensure government compliance