e commerce accounting

E-commerce accounting is a specialized financial management practice tailored to the unique needs of online businesses. It involves tracking revenue streams, managing sales tax compliance, reconciling payment gateways, and handling inventory accounting. E-commerce accounting ensures accurate reporting on income, expenses, and profitability while addressing the complexities of multi-channel sales, fluctuating product costs, and returns. Additionally, it helps e-commerce businesses stay compliant with tax regulations across various jurisdictions and optimize their financial strategies for growth and scalability.