How to save money on accounting for e-commerce?

Consumption times and pressure for efficiency have created a demand for more convenient shopping than visiting brick-and-mortar outlets. While in 2013 there were only about 4,000 e-shops in Slovakia, today there are more than 11,000. Slovaks spent 1.13 billion in e-shops last year. This is an increase of 23% compared to 2017. It is estimated that by 2021, e-commerce sales will exceed 10% of all retail sales. Although we rank among the “e-shopping superpowers” in terms of population, the Czech Republic is even better off. The number of e-shops there is 3 times higher than in Slovakia.

We accountants also want to adapt to the times, so we need to offer products and services that are affordable and technically convenient for today’s generation and e-commerce entrepreneurs. We strive to make our services not only about manual posting of receipts, but also about consulting with the efficient setup of automated accounting. Each e-shop has its own specifics and our task is to set up document flows together with the client so that the need for human input is as low as possible.

The very choice of the e-shop and the platform on which the e-shop will operate is extremely important in terms of the price for accounting. Equally important is the appropriate choice of billing system, which should be easy to connect to the accounting software. It is the linking of your accounting software with an online invoicing system that is the key to success in saving money on your bookkeeping, while saving you time on the actual invoicing and ordering.

Last but not least, we should not forget about the correct choice of payment gateways. Not all payment gateways provide the necessary outputs for accounting purposes. You may think that the choice of payment gateway will not affect the price of processing documents. But the opposite is true.

The key to savings in online shop accounting is the automation of the processes themselves. From the generation of the order, to the receipt and pairing of the payment by the payment gateway, through the automatic issuance of the invoice to the customer, to the actual posting of the invoice by the accounting software. This is what the process of running an e-shop looks like in a nutshell, where “robots and computers” work for us. Therefore, the client does not pay for manual billing. That belongs to the last century. The client only pays for the added value.

Therefore, if you are planning to open an online shop or just feel that you are paying your accountants a lot for your e-shop, we will be happy to help you with the appropriate choice of online billing system and also the selection of the right accounting software to maximize your savings on your accounting fees.