“Knowing your numbers” has never been more important for merchants. With rising cost of goods, supply chain challenges and lower yield advertising, understanding the true financial performance of a business has transformed from a nice to have to a need to know.
In fact, 32% of ecommerce businesses fail because they run out of cash, 29% fail because of cost and pricing imbalance and others fail because they try to scale too quickly.
So how do you get a handle on your numbers to avoid these financial pitfalls?
The simple answer: practice good accounting.
Unfortunately, “good accounting” is more challenging for merchants that sell online than traditional brick-and-mortar retailers.
Consider the ecommerce accounting challenge:
- Ecommerce stores have more payment options than traditional brick-and-mortar retailers. Merchants have to reconcile different payouts which all have different payment timelines.
- Selling online opens up a much broader market. Sales in different states or countries may make you liable for complicated tax requirements.
- Merchants have to account for many different transaction types including sales, fees, refunds, tax and more. It’s time-consuming to manually and accurately categorize transactions for a detailed Profit & Loss Statement (P&L).
- Gross margin is hard to track if you’re not appropriately managing your Cost of Goods Sold (COGS).
BigCommerce is dedicated to providing merchants with tools to make ecommerce easier and more profitable, and want to make sure that merchants have the financial visibility they need to make the best decisions for their business.
That’s why BigCommerce has partnered with A2X to integrate their accounting app onto their powerful ecommerce platform.
Less Accounting Headaches, More Financial Visibility
Integrating A2X on the BigCommerce platform was an easy decision, as it came highly requested by many of their growing merchants and their accounting partners.
BigCommerce has helped tens of thousands of merchants around the world grow their businesses, but with growth comes increased accounting complexity.
With BigCommerce and A2X, ecommerce accounting is simplified, automated and accurate. This integration transforms a manual, time consuming process into an automated experience that gives you true financial visibility in just a few clicks.
Automated Ecommerce Accounting
Since 2014, A2X has been trusted by leading ecommerce merchants, accountants and bookkeepers, to automate their accounting, make tax season less time consuming and increase their financial visibility.
As Scott Scharf, CTO at Acuity (a leading practice for online merchants) puts it “A2X is the gold standard in ecommerce accounting.”
Accurately reconcile payouts.
A2X syncs your BigCommerce sales data with QuickBooks Online or Xero and auto-categorizes the transactions — sales, fees, taxes, gift cards, refunds and more – into daily summaries that make reconciling payouts a breeze.
Make tax time less taxing.
Avoid overpaying taxes by assigning tax rules to every transaction type, taxable or non-taxable sales and country.
Know your margins.
A2X matches your cost of goods sold (COGS) with your BigCommerce sales to help you stay on top of your gross margin.
Access accounting professionals.
Not working with an in-house accountant or bookkeeper? Find one on A2X’s Partner Directory, the largest network of certified ecommerce accounting and bookkeeping professionals in the world.
Global experience, local support.
The A2X support team is available in almost every time zone, has deep ecommerce accounting expertise and can support you on your journey to automated ecommerce accounting.
The Final Word
Are you ready to save time and get better visibility into your financial performance? Find out why leading ecommerce merchants, accountants and bookkeepers around the world put their trust in A2X.
Learn more about A2X here.
