The world is changing at a rapid pace, and a big culprit of this is technology. Now, nearly everything can be done electronically, and a large culprit of our expanding electronic world is E-commerce. E-commerce is growing at a rate of 20% a year, pushing brick and mortar stores to the wayside, or at least forcing them to innovate constantly. E-commerce sites are able to understand their user’s behavior quickly and tailor advertisements to their specific wants. People are more likely to make a quick purchasing decision when it is a click away, rather than a drive away.
The rate of change within the technology industry is only making it easier for people to conduct business online. Open source software, advertising opportunities, access to cost-effective and efficient tools such as payment portals, are a few of the ways business owners are using e-commerce to help their business thrive.
As the e-commerce industry continues to thrive the accounting needs for the industry grow. Some of the ways DKB helps their e-commerce clients includes collecting sales tax, understanding the reporting of revenue and expenses, streamlining processes, accounting for subscription services, refining internal controls, tracking inventory and eliminating unnecessary expenses.
Whether our client is starting their own business or working for one we want to provide comfort and ease. E-Commerce accounting can be overwhelming, especially to new business owners – that’s where we come in. The knowledgeable DKB staff can offer helps to ensure you’re following all tax regulations, and allows you to find new ways to compete in the growing e-commerce marketplace.