At VM Wasek, we specialize in Shopify accounting and work with a lot of Shopify sellers. What’s the biggest challenge I see time and again while working with these clients? They are dealing with either tracking inventory and cost of goods sold on spreadsheets, using apps, or using Shopify inventory. As their business grows, they begin to struggle with trying to put all of these pieces together to get good numbers for cost of goods sold -then realize they aren’t even sure how it should be calculated. Could this be your struggle too? I’m here to help! Keep reading for a look at Shopify cost of goods sold: explained by an accountant.

If you are working on your own e-commerce bookkeeping, you have probably noticed that timing differences between your payment processors and your bank deposits can create quite a puzzle. You're not alone, this can stump even seasoned accounting professionals. I recommend using Shopify clearing accounts in QuickBooks Online as a solution to the timing difference puzzle. Let’s take a look at why you should be using clearing accounts for your Shopify bookkeeping, and how to set them up and use them.

Selling products online is becoming more and more common, so it’s likely that you are either an e-commerce seller yourself, or a bookkeeper looking to work with e-commerce sellers. Whichever category you fall into, understanding the fundamentals of Shopify financials is simple once you have all the information in one place. That’s why I’m taking you on an insider’s tour of the Shopify Bookkeeping Method, my latest course designed to give you all the basics you need.

Are you a new Shopify seller? Does the thought of keeping up with sales taxes just make you want to run away and hide? No worries. Today, I’m breaking down the biggest sales tax mistakes that new Shopify sellers make with US sales taxes, and I’ll even explain sales taxes to you at the end.

One of the first things you want to do when you start out with your DIY e-commerce bookkeeping is to set up that Shopify to QuickBooks Online integration. But not so fast! If you rush into it, you could get yourself into some big trouble. In this article, I’ll tell you all about the biggest Shopify to QuickBooks integration mistakes and how to avoid them.

As business owners in the e-commerce world, you probably know the agony of deciding which version of a software app has just the right features for your needs. It’s even more of a challenge to find what you need for a price that fits your bill. Good news! I’m here to help ease some of your struggle, at least for your accounting software in particular. So, what’s the right version of QuickBooks Online for Shopify sellers like you? In this article, I will give you my insights.

So your Shopify business is taking off, and you realize that you now have a real business. You also realize that now you have to deal with all sorts of things you've never dealt with before, including keeping up with the financial side of your business. Running a Shopify business can certainly bring up a lot of questions. One of the biggest ones is: should you DIY your Shopify bookkeeping? There are some important factors to consider when deciding if you should take your Shopify bookkeeping into your own hands. Let’s talk about what you need to know and do for DIY Shopify bookkeeping.

When taking on your Shopify bookkeeping, you may be searching for apps to help make things a little easier. In the ocean of available apps, it’s hard to know which ones are worth trying out. I specialize in working with Shopify sellers, so I’m always on the look out for the best app solutions to use and recommend to my clients. I have researched and tested out many of the apps available, and want to share my recommendations for the best accounting apps for Shopify sellers.

As a new Shopify seller, setting up your Shopify bookkeeping the right way is crucial. It can be daunting, though. Thinking about doing your books and tracking all your financials can make you want to throw in the towel (before you’ve even started). Shopify bookkeeping is not easy - even for professional bookkeepers.That’s why in this article, I’m giving you my top tips for setting up your Shopify bookkeeping the right way.

Did you know that Shopify sellers can customize their chart of accounts in QuickBooks Online to gain better insight into how their business is doing, and streamline their bookkeeping at the same time? In Part 1 of this 2-part series, I showed you the account categories that you need to set up for your Shopify chart of accounts. Now I’ll go over customizing your Shopify chart of accounts in QuickBooks Online - Part 2, where we will dive into adding some expense accounts and removing unwanted accounts.