Ecommerce Accounting Is Really Hard
I was trying to think of a better takeaway from Scott Scharf’s three-hour session, “Ecommerce Accounting Best Practices for the Modern Accounting Practice,” but there isn’t one.
Ecommerce accounting is really hard, for a number of reasons:
- Ecommerce shopping carts and inventory systems rarely integrate well with accounting applications.
- Sellers can have lots of different sales channels, complicating reconciliations.
- Selling online often results in sales tax filing requirements in dozens of states.
- Ecommerce businesses often don’t have the expertise necessary to ensure that costs are being captured properly in inventory.
Given all the complexities of ecommerce accounting, you should probably just sign up for Catching Clouds Academy, launching in September 2017.