Ecommerce Bookkeeping Services for Online Sellers
Ecommerce bookkeeping is unlike traditional small business bookkeeping in almost every way. Instead of a handful of monthly transactions, online sellers deal with hundreds or thousands of individual sales, platform fees, refunds, chargebacks, and payout timing that rarely lines up neatly with the calendar month. Standard bookkeeping approaches simply weren't built for this volume and complexity.
Majoka Accounting Ltd. provides specialized bookkeeping for Amazon sellers, Shopify store owners, and other ecommerce businesses across Canada and the United States, untangling platform fees, multi-currency sales, and cost of goods sold into clean, accurate monthly books.
Whether you're selling internationally through Amazon FBA or running a direct-to-consumer Shopify store shipping across North America, ecommerce bookkeeping brings order to what can otherwise become an overwhelming volume of transaction data.
What Is Ecommerce Bookkeeping?
Ecommerce bookkeeping is the process of recording and reconciling the unique financial activity generated by online sales platforms, including gross sales, platform fees, shipping costs, refunds, chargebacks, and payout deposits, then translating all of it into accurate monthly financial statements.
Unlike a typical service business with a handful of monthly invoices, ecommerce businesses often generate hundreds of transactions daily. A single Amazon or Shopify payout might represent thousands of individual sales netted against fees, refunds, and advertising costs, all of which need to be broken out correctly rather than recorded as one lump sum deposit.
For Canadian sellers, this includes tracking GST/HST across provincial sales. For US sellers, it includes navigating economic nexus rules that may require sales tax collection in multiple states depending on sales volume.
Why Businesses Need This Service
Without specialized ecommerce bookkeeping, it's extremely easy to misstate revenue by recording gross payouts as income without separating out fees and refunds, which distorts profitability and can create tax reporting problems. Cost of goods sold is another area that's frequently mishandled, since inventory purchases and cost of goods sold need to be tracked separately and accurately.
Getting ecommerce bookkeeping right means you actually know your true margins by product, not just your bank balance after a platform payout lands.
What's Included
Platform Payout Reconciliation
We break down Amazon, Shopify, and other platform payouts into their component parts, gross sales, fees, refunds, and advertising costs, rather than recording the net deposit as a single transaction.
Cost of Goods Sold Tracking
We track inventory purchases and calculate accurate cost of goods sold, giving you a true picture of product-level profitability rather than just overall revenue.
Multi-Currency Sales Handling
For sellers with international customers, we accurately record sales and fees across multiple currencies, converting them correctly for consistent reporting.
Sales Tax and GST/HST Tracking
We track GST/HST for Canadian sellers and monitor economic nexus thresholds for US sellers, flagging when new state sales tax registration may be required.
Monthly Financial Reporting
You receive Profit and Loss statements and Balance Sheets that reflect your true ecommerce margins, built from properly reconciled platform data.
Our Process
1. Consultation
We discuss which platforms you sell on, your sales volume, and how your current bookkeeping (if any) handles platform payouts.
2. Assessment
We review your existing books to see how payouts and fees have been recorded so far, identifying any past misstatements.
3. Setup
We connect your sales platforms and bank feeds to your accounting software, configuring rules to break out fees and refunds automatically.
4. Implementation
Your dedicated bookkeeper begins the monthly cycle, reconciling platform payouts against actual sales activity.
5. Monthly Workflow
Each month, we reconcile payouts, track cost of goods sold, and monitor sales tax or GST/HST obligations across your selling regions.
6. Review
We review the month's ecommerce data for accuracy, catching any fee miscategorizations or unreconciled payouts.
7. Reporting
You receive monthly reports that reflect true product-level margins, not just gross platform deposits.
8. Ongoing Support
We're available for questions about new sales channels, product launches, or sales tax obligations as your store grows.
Industries We Serve
Ecommerce bookkeeping needs shift depending on the specific platforms and fulfillment models involved.
reconciling complex settlement reports covering fees, storage costs, advertising, and FBA reimbursements.
connecting payment processors and shipping costs to accurately calculate per-order profitability.
combining in-store point-of-sale data with online sales for unified reporting.
tracking recurring revenue and deferred income correctly across billing cycles.
matching supplier costs to sales without holding physical inventory.
handling larger, less frequent transactions alongside standard retail sales.
managing multi-currency transactions and cross-border tax obligations.
building investor-ready reporting structures from the very first sale.
Software We Support
We connect ecommerce platforms directly to your accounting software for accurate, automated data flow.
our most common platform for ecommerce clients, integrated with sales channel apps for automated data import.
supported for ecommerce sellers who prefer its interface and app marketplace integrations.
suitable for very small ecommerce sellers with lower transaction volume.
used occasionally for ecommerce businesses with more complex inventory needs.
less common for high-volume ecommerce but supported for hybrid service and product sellers.
integrated with Zoho's broader ecosystem for sellers already using those tools.
Benefits of Choosing Majoka Accounting Ltd.
Ecommerce bookkeeping requires real platform-specific expertise. Here's what you get with us.
Why Choose Us Instead of DIY?
Trying to reconcile ecommerce payouts manually is possible at low volume, but it becomes unmanageable quickly.
Common Mistakes Businesses Make
Recording Gross Payouts as Revenue
Recording the net deposit from Amazon or Shopify as total revenue, instead of breaking out fees and refunds, significantly overstates income and understates true costs.
Ignoring Economic Nexus Thresholds
US sellers who don't monitor state-by-state sales volume risk missing sales tax registration requirements that trigger once certain thresholds are crossed.
Mismanaging Cost of Goods Sold
Failing to track inventory purchases separately from operating expenses makes it impossible to know true product margins.
Overlooking Advertising Cost Allocation
Platform advertising costs are sometimes lumped into generic expense categories instead of being tracked against specific product performance.
Not Reconciling Refunds and Chargebacks
Skipping proper refund and chargeback tracking leads to inflated revenue figures that don't reflect what was actually kept.
Frequently Asked Questions
Get Started Today
If platform payouts, fees, and refunds have turned your bookkeeping into a guessing game, Majoka Accounting Ltd. brings clarity to your ecommerce business with accurate, platform-aware bookkeeping every month.
Book a free consultation by phone, email, or our online form, and we'll walk through exactly how we'd reconcile your specific sales platforms.
Other Services We Offer
Most clients combine two or three of these into one fixed monthly package.
Book a Free Consultation
Tell us where your books stand and we'll show you exactly how we can help, with a fixed monthly price and no obligation.