Hey everyone,
I’m running a big online store in the UK. My company made over £1m last year. I need a new accountant who really gets e-commerce.
My current one is okay with basic stuff but doesn’t understand online selling. They mess up my stock costs. I have about £100k in products, and they can’t figure out the real cost of what I’ve sold.
This means I can’t trust their reports. I’m always double-checking everything myself. It’s frustrating!
I’m paying £450 a month, which feels like too much for what I’m getting. Does anyone know a good accountant who understands online businesses and how to handle lots of inventory?
Thanks for any help!
I’ve been in your shoes, Mike. It’s crucial to have an accountant who understands e-commerce intricacies. Have you considered reaching out to the Institute of Chartered Accountants in England and Wales? They have a directory of specialised accountants. I found my current accountant there, and she’s been invaluable for my online business. She’s well-versed in inventory management and cost allocation for e-commerce. It might be worth exploring. Also, £450 monthly seems steep for inadequate service. A competent e-commerce accountant could potentially save you money in the long run through accurate reporting and tax efficiency.
hey mike, i’ve been thru the same headache. try lookin into specialized ecommerce accounting firms. they get the complexities of online biz & inventory mgmt. might cost a bit more, but saves u time & stress in the long run. check out cloudbooks or ecomm accountants UK. heard good things about em
Hey Mike, sounds like you’re in a bit of a pickle! Have you thought about checking out some accounting software specifically designed for e-commerce? I’ve heard good things about Xero and QuickBooks Online - they might help bridge the gap while you’re looking for the right accountant.
Speaking of which, have you tried asking around in any e-commerce forums or Facebook groups? Sometimes word-of-mouth recommendations can be gold. Plus, you might find someone who’s dealt with similar inventory issues.
Just curious - what kind of products are you selling? The complexity of your inventory might affect what kind of expertise you need. Have you considered bringing in a consultant to set up a proper inventory management system? Might be worth the investment if it saves you headaches down the line.
Good luck with your search! Let us know how it goes, yeah?