In Part 1, we covered the basics of setting up clean and accurate financials. Now it’s time to focus on advanced strategies that streamline multi-platform reconciliation, improve reporting, and simplify compliance so your business can stay on top of finances in 2025.
Managing your financials doesn’t just keep your books clean. It sets the stage for growth, improves efficiency, and helps you avoid costly mistakes as your business scales.
Here are the key accounting areas we recommend focusing on to prepare your eCommerce business for the year ahead:
Reconciling multi-platform transactions
Selling through multiple channels? Whether you’re using Shopify, BigCommerce, or Amazon for eCommerce and Square or Shopify for in-store POS, each platform comes with its own reporting system. Managing this network of platforms becomes even more complex if you have both an online presence and brick-and-mortar retail locations.
For businesses with multiple physical locations, such as franchises, each store might operate as its own accounting entity. This means you’ll need to reconcile financial data not just across platforms but across locations, adding another layer of complexity to your financial processes.
Without a strategy to consolidate and reconcile this data, small errors can grow into major issues.
Here’s how to manage multi-platform transactions effectively:
- Automate transaction syncing: Tools like Bookkeep work with platforms you already use to consolidate data and sync them with your accounting or ERP system, such as QuickBooks Online, Sage Intacct or NetSuite.. Less manual effort + more accuracy = wins for all
- Reconcile daily: Regular reconciliation helps catch discrepancies early and keeps your financials accurate.
- Monitor fees and payouts: Payment platforms often charge fees or hold funds temporarily. Tracking these in real time ensures nothing falls through the cracks.
Using reports to fuel smart decisions
Accurate reporting is more than a compliance tool. It’s a key driver of business growth.
Here are the reports to prioritize:
- Break down sales data: Analyze performance by platform, region, or product to identify high-margin opportunities. You can use Bookkeep’s cost of goods sold (COGS) reporting to automate accurate cost tracking without complex inventory systems.
- Track trends over time: Historical data highlights patterns so you can prepare for seasonal shifts or demand surges.
- Prepare for audits or valuations: Detailed reporting keeps you ahead of investor, buyer, or auditor requests.
When reports are automated and consistently updated, they provide a clear picture of your business’s health and help you make data-driven decisions.
Simplifying sales tax management
Expanding into new regions brings new tax obligations. Staying compliant requires careful tracking of sales by location and automating filing processes.
What to focus on:
- Use tools to calculate taxes for each jurisdiction accurately.
- Automate tax filing to ensure timely compliance with state and international laws.
- Regularly review tax laws, as regulations often change and can impact your operations.
Creating scalable systems for success
As your eCommerce business grows, manual processes will hold you back. Automating key accounting functions like reconciliations, tax filings, and reporting will not only save time but also improve accuracy and efficiency. Scalable systems allow you to adapt to industry trends without missing a beat.
With the right tools and strategies, your business will be ready to handle increasing complexity while staying agile enough to explore new opportunities.
Final thoughts
Success in 2025 starts with solid financial processes. By implementing automation, centralizing data, and staying proactive about tax compliance, your eCommerce business can handle challenges swiftly and take on new opportunities.
Want to see how automation can simplify your eCommerce accounting?
Schedule a demo with Bookkeep today and see how it works.
