Over the past years, the e-commerce business has become such a booming industry, and one way to thrive in this industry is to become an Amazon seller. As the e-commerce giant provides consumers with a wide range of products at competitive prices, it also allows sellers to promote their goods on a robust platform. However, setting proper accounting in place can prove challenging, especially when managing finances, dealing with taxes, and complying with the laws. This is when hiring an expert comes into the picture.
If you are thinking about hiring an Amazon seller accountant in Australia to help your business, here are four practical tips to consider:
1. Start searching for prospective accountants
When looking for an Amazon seller accountant, there are a handful of places you can check. The first one is the Xero advisor directory that has a list of accountants in your locality. As it specifically caters to particular businesses, you won't have difficulty finding the most appropriate accountant. The next place to check is the A2X partner directory, which has specific accountants with plenty of experiences and areas of expertise. If you aren't sure how to proceed with the first two, you can also search online via Google to look for accountants in your area, as your options will be unlimited!
2. Factor in the experience and expertise
Once you have a list of prospective Amazon accountants to help your business, it's time to narrow down your options. To do so, you must consider these two key aspects—experience and expertise. When it comes to experience, you will want to work with someone who has been in the industry for many years––the longer, the better. On the other hand, it's best to hire someone whose field of expertise in accounting is e-commerce accounting, particularly in handling the Amazon platform. That way, you can take advantage of their knowledge and skills to take your business to the next level!
3. Ask the digital tools and technology they're using
Another vital consideration is how these accountants utilise digital tools and technology in accomplishing their bookkeeping and accounting jobs. First off, they must be acquainted with every inch of the Amazon platform and know how to use the accounting resources and tools that the platform itself provides. Finally, they must also have their own accounting software that will make their financial recording, monitoring, and reporting a lot easier, more efficient, and effective.
4. Set an appointment to check the work ethics and commitment
Once you have factored in all those mentioned above, it's time to filter your options into three to five options. Before you make the final decision, it helps to set an interview with them to assess their commitment to the job and check their work ethics. Be sure to present your products on Amazon and what your existing accounting processes involve, and ask how they will improve your accounting and boost your finances. From there, you'll be able to assess who the right fit is for your e-commerce business!
Proper accounting is paramount for Amazon sellers. If you aren't an accounting expert, work with an accountant specifically dedicated to dealing with Amazon's finances. Just be sure to follow our steps mentioned above so that you'll end up hiring the right expert for the job. Not only will an accountant help you handle taxes and maintain the financial health of your business, but they will also enable you to gain more profit in the long run!
Are you in need of an accountant for an Amazon seller in Australia? We've got you covered! We provide e-commerce accounting services to help entrepreneurs increase their profit and reduce their taxes. Get in touch with us today to book your FREE strategy session!