If you are a store owner or an accountant new to eCommerce, there will be a learning curve to put in the best practices.
From handling payment fees, managing inventory, managing orders and customers, there are many processes specific to an eCommerce business.
No need to get overwhelmed. I recently compiled a one stop guide going through the following 6 best accounting practices to track the growth of your online store:
1. Recording your invoices with payments 2. Recording Inventory on hand 3. Tracking your Cost of Goods Sold (COGS) 4. Capturing Sales Tax liabilities 5. Reconciling all your accounts 6. Automating your accounting