Ecommerce Bookkeeping for Shopify & Amazon Sellers
Payouts broken back into sales, fees, refunds and tax, with inventory costed and sales tracked by state.
Ecommerce Bookkeeping overview
Ecommerce bookkeeping goes wrong when payouts are booked as sales. A Shopify or Amazon deposit is what is left after fees, refunds, chargebacks, advertising and reserves, and on marketplace orders the sales tax has already been taken out. Recording the deposit as revenue understates sales, hides your real margin and leaves your CPA guessing.
We rebuild each payout from the platform's own reports: Shopify payout details and order exports, Amazon settlement reports with their fulfillment and storage fees, plus PayPal, Stripe and other channels. Gross sales, discounts, refunds, platform fees, shipping and sales tax each go to their own account, and every payout reconciles to the bank deposit.
Inventory gets the same discipline. We record purchases, landed costs such as freight and duties, and cost of goods sold from your inventory app or a monthly count. Sales are tracked by state and channel, so you see when direct sales approach a nexus threshold, and tax a marketplace collected stays out of your own liability.
Prefer to talk it through first? Call +971 54 542 4854 or email info@hof-partners.com.
What each month covers
- Every payout matched
- Each Shopify, Amazon, PayPal, and Stripe payout split into its parts and matched to the deposit in your bank.
- Fees and refunds separated
- Platform, fulfillment, storage, and ad and payment fees recorded apart from refunds and chargebacks, line by line.
- Stock and cost of sales
- What you buy, plus its shipping and duties, recorded, and the cost of what you sold posted every month.
- Sales by state and channel
- Your own-store and marketplace sales reported by state, ready to check against each state's sales tax limit.
- Sales tax kept separate
- Tax from your own store held as money you owe, and tax Amazon already collected kept out of your sales.
- Real profit by channel
- What each storefront really earns after fees, shipping, and advertising, so you know where to spend next.
See what each channel really earns after every fee and refund.
Questions about Ecommerce Bookkeeping
Because the deposit is net. Shopify takes out processing fees, refunds and chargebacks before it pays you, and orders can settle across two payouts. We record gross sales and each deduction separately, then reconcile the net figure to the bank.
On sales through Amazon, largely yes: every state with a statewide sales tax has a marketplace facilitator law, so Amazon collects and remits the tax on those orders. Your Shopify store and other direct sales remain your responsibility, and inventory stored in a state, including in a fulfillment center, can create nexus there. See sales tax support.
Payment platforms and marketplaces file Form 1099-K when your payments through them exceed $20,000 and 200 transactions in a calendar year. All of your sales are taxable whether or not you receive one, so we reconcile any 1099-K you do receive to your recorded gross sales.
Shopify, Amazon Seller Central, Walmart Marketplace, Etsy, PayPal and Stripe, and connector apps such as A2X or Synder that summarize payouts into QuickBooks Online or Xero. If you don't use a connector yet, we can recommend one.
No. HOF Partners is not a US CPA firm and does not file with the IRS or any state. We prepare the books and the sales tax figures; you or your CPA file the returns.
It depends on how many channels you sell on, how many orders you have each month, and whether you hold stock. You get a written quote after the free consultation, before any work starts.
More ways we can help
All services- Bookkeeping for CPA FirmsA white-label bookkeeping team that works in your software, follows your checklists and stays invisible to your clients.
- Catch-Up BookkeepingMonths or years of missing or messy books brought current, reconciled and ready for your tax preparer.
- Monthly BookkeepingVirtual bookkeeping that posts, reconciles and closes your books every month, ready for your CPA at year end.
- QuickBooks BookkeepingA QuickBooks Online bookkeeper who sets your file up properly and keeps it reconciled every month.
- Sales Tax SupportSales tax nexus tracked state by state and return data prepared from your books, ready for you to file.
- Startup BookkeepingAccrual books for startups and SaaS companies, with deferred revenue, burn and runway ready for investors and your CPA.
Talk to us about your ecommerce books
Tell us what you need. Your message goes straight to our accountants, and we aim to reply within one business day.