Picking an Amazon Seller Accountant: 3 Considerations to Make
Australia has recently started working with Amazon, providing plenty of opportunities for its retailers to grow online. If you are interested in using this opportunity to grow yours, one of the most important factors to consider is your accounting books. Properly filing taxes at the end of the year is a must, and while it is incredibly tough to do so, if you do not know what you are doing, you will find yourself in deep trouble if you make mistakes. Issues like tax evasion come with serious consequences, and something you never want to experience.
Want to ensure your accounting books are always up to date? You should hire an Amazon seller accountant, but not just any of them. Here are things to consider to find the right accountant for the job:
The first thing to check from them is their qualifications. This includes knowing the tax rules and familiarity with the Amazon accounting laws in Australia. Understand that even a great accounting qualification does not mean they are capable of doing Amazon-related accounting. For that reason, if they don’t possess qualifications specific to Amazon accounting, they are not up for the job. Search for someone else instead that knows the laws like the back of their hand.
2. Knowledge of the ins and outs of Amazon
Do they know how Amazon businesses work? This is a must when hiring an Amazon seller accountant. You can test them by asking them various questions about how people like you do online businesses with Amazon in Australia. They should be able to give you a rundown of all the processes such as registration, along with knowledge of international businesses selling products to customers in Australia. Essentially, your job is to barrage them with questions about everything Amazon business-related. The more they can answer your questions, the better the chances that they are the right individual to do Amazon seller accounting services for you.
3. Experience with international tax
Apart from knowing all the Amazon accounting tax laws in Australia, they should be aware of international tax laws as well. This includes asking about GST for sellers in Australia, along with asking about double taxation agreements and the various aspects of it. If you find that the accountant can answer them well, they are a good pick for you. This is because, when using Amazon, international tax laws will apply quite often. Having an accountant who knows these laws well will ensure that your accounting books are up to date and accurate.
These considerations may seem tedious to follow, but trust us when we say that you want to work with an Amazon seller accountant who thoroughly knows what they're doing. This ensures that your end-of-year taxes are done right and that you stay far away from any consequences that can put your business in peril. That said, a good way to identify the right accountants is to ask other professionals who are working with their accountants for tips and even recommendations. These can become valuable to you, helping you quickly find the right accountant to get your business going as soon as possible.
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