There’s a new sheriff in town: why your business needs an ecommerce accountant

By shishir Khadka on June 8, 2018

The birth of ecommerce has been compared with the opening up of the American Wild West by intrepid settlers, a huge, rapid and disruptive exploration of new territory with massive opportunities for those brave enough to take them.

But now the dust is settling, a whole new, online working environment is emerging as more people set up ecommerce businesses in new sectors. Continuing the Wild West analogy, civilisation and the rule of law now follows in the footsteps of the gunslingers and pioneers, but instead of sheriffs and judges a new kind of accountant is riding into town: the “eccountant”.

The traditional vs ecommerce accountant

The traditional figure of the reliable bookkeeper with a safe pair of hands doesn’t really cut it in today’s fast moving business environment.

Many businesses only exist because they make use of emerging technology – shopping carts, payment platforms and inventory management systems. So they need more specialist, technical advice than the old-fashioned high street accountant can offer.

Your accountant needs to know so much more than tax filing and bookkeeping; they need to provide you with real-time information on your business, expert business advice and up-to-date on the latest trends, apps and platforms.

An ecommerce business needs a whole new kind of tech-savvy accountant, one who thinks strategically and can act as your strategic business advisor, technical director and financial director.

Staying ahead of the competition

Whether you’re an ambitious entrepreneur looking to accelerate growth or you think your business is stable and everything is okay with your current accounting arrangements, you could be missing out if you’re not keeping up with ecommerce trends. Your competitors won’t be ignoring what’s going on and they will leave you and your clients behind.

A specialist ecommerce accountant should be offering help and advice where it’s most needed:

  • Streamlining processes. Making sure you’re not wasting money duplicating processes or using cumbersome outdated ways of working
  • Synergising financial and operational information to offer real time reports for tracking KPIs, informing decision making and spotting new opportunities
  • Helping clients to avoid or overcome common pitfalls with timely and well-informed business advice
  • Ensuring business health by optimising cash flow at all times with regular and comprehensive management accounts
  • Introducing new systems to challenge the status quo and keep you ahead of competitors

About me

My name is Shishir Khadka and I am a Chartered Certified Accountant, a certified specialist in QuickBooks Online and Xero, and my goal is to transform the traditional perception of accounting as a cost being to an investment.

I believe new technology and the demands of modern commerce are creating a gulf between traditional accountancy and the needs of businesses. Online, fast-growth businesses depend on having critical financial information at the tip of their finger, something traditional accounting methods do not facilitate.

As proactive accountant and finance director, I work closely with my clients to cut inefficiency, leverage the best technology available, while minimising tax liability and boosting profits. My mantra is “Listen, Understand, Solve, Repeat”.

I founded Boost Accounting in 2016 and built a team with more than 50 years of combined experience in bookkeeping, Cloud accounting and business support services to owner-managed businesses.

Your next step: a free diagnostic session for your business

We offer a range of support levels along with workshops and online courses tailored to suit the needs of your business.

BOOK NOW for your free diagnostic session with me and receive a 5-point actionable plan to boost your profit.

You can also contact me on 07376046733 or at shishir@boostaccounting.co.uk.