Accounting that Delivers for your Retail and eCommerce Business
Partner with an expert accounting team that understands the financial needs of all types of eCommerce and Retail companies.
Outsourced Accounting for the Unique Demands of eCommerce and Retail
In retail, data is everything. Understanding inventory, transaction, and payment patterns is critical to capitalizing on trends and growing your customer base. A clear grasp of your financial data that is precise, accurate, and up-to-date is vital to your success.
At Scrubbed, we have a deep understanding of the fast-paced nature of the retail industry. We also know outsourcing makes sense when business can change quickly, and we pride ourselves on helping you keep your inventory management data current and accurate. We also specialize in revenue recognition management, accurately preparing your multi-channel and multi-state sales and tax records. With our outsourced services, you’ll have up to the minute visibility into all the financial, tax and payment information you need to make quick and confident business decisions.
Meeting the Changing Needs of eCommerce and Retail Companies
Whether your enterprise is a local brick-and-mortar store or a worldwide eCommerce platform, outsourcing means you can access exactly the expert accounting and finance services you need, when you need them. From bookkeeping services and revenue recognition to fully outsourcing your accounting, financials, and tax reporting, our services scale to meet your needs. And we’re also experienced in the data security and legal requirements around payment processing, helping you stay compliant no matter where you do business.
Depending on the stage and needs of your business, we can provide the following services:
Featured Work
Case Study
As the founder of a new business, you’ve developed an idea for a product you believe will fill an important need in the market.
Case Study
The rapid growth of e-commerce has transformed the retail landscape, offering businesses new opportunities for growth and expansion.
“I believe one hundred percent that as we continue to grow, Scrubbed will scale and provide the support that is required. No doubt about that.” They always feel to me like part of Hatch.
Abhi Awasthi
Assistant Controller, Hatch
“Scrubbed’s expertise has been absolutely critical to understanding our business. Having somebody who’s very efficient and very detail-oriented and knows our business through and through has been really, really helpful to help us keep growing our business.”
Ori Zohar
Co-Founder. Burlap and Barrel
Featured Insights
CASE STUDY
Scaling Up to Success: Hatch's Journey from Shark Tank to Industry Leader with Outsourced Accounting
Meet Our eCommerce Experts
Denissa Ysabel Dizon
Director
Yss has over 15 years of experience in general accounting, financial reporting, and accounting and auditing education. She has also worked extensively with merchandising and retail businesses, providing them with accounting services.
Vivian Calma
Manager
Vivian is a skilled Manager with almost 8 years of professional experience in the fields of accounting, finance, and audit. At Scrubbed, Vivian specializes in eCommerce, retail, and distribution, for the past 5 years.
Winzeth Maglaque
Manager
Winzeth is a manager at Scrubbed, with 7 years of experience in the field of accounting, 4 of which were spent in external audit. She specializes in retail and distribution, as well as manufacturing.
FAQ
Outsourcing your accounting means hiring a third-party firm of retail accounting experts to handle tasks such as bookkeeping, tax compliance, financial reporting, inventory accounting, and cash flow management. Instead of recruiting and training an in-house team, this approach lets you adjust services based on your retail or ecommerce operation’s needs.
Outsourcing reduces operating costs for your retail or ecommerce business while giving you access to experienced retail accounting professionals. Your outsourced team will provide accurate financial reporting, and help your operations maintain compliance with retail-specific tax regulations. Additionally, outsourcing is scalable, so you can adjust the level of accounting support based on seasonal demands or expansion plans.
Because your outsourced accounting professionals have a depth of retail experience, they can manage financial data from all of your online and physical sales channels. They know how to integrate sales data, track inventory levels, and reconcile transactions across platforms to provide you with a clear and unified financial overview.
Many outsourced accounting providers offer support for international sales and are able to handle multi-currency transactions, currency conversions, and international invoicing. Outsourced teams will usually also be able to manage your tax obligations across different jurisdictions.
Reputable outsourced accounting firms use enterprise level data security measures, including encryption and secure servers, and know how to comply with data protection regulations to protect sensitive financial information.
Retail leaders often voice concerns about an outsourced firm’s ability to integrate multiple sales platforms, manage inventory, ensure sales tax compliance, and protect sensitive financial information. Being aware of these concerns can help you assess possible outsourcing partners and make sure they have the expertise and flexibility to meet the needs of your retail or ecommerce business.
Some typical scenarios that indicate outsourcing would be a good fit include:
- Rapid growth: When your sales are increasing quickly and managing your financial processes gets more complicated, outsourcing can help you manage the increased transaction volumes and help you implement systems to handle new revenue streams, without your having to hire and train more employees.
- Multi-channel sales: If you need to track sales across multiple channels (online stores, marketplaces, physical locations), outsourced professionals can help you integrate the data and reconcile payments and expenses so you have a clear picture of profitability across platforms.
- Inventory complexity: If your inventory is located across different warehouses or platforms, outsourced experts can help you set up systems to track COGS accurately, manage stock, and provide real-time insights.
- Multi-state sales tax compliance: When you do business in multiple jurisdictions, making sure that you’re compliant in tracking and filing sales tax in all of them can become overwhelming. Outsourcing compliance work to experienced professionals reduces your risk of penalties and can simplify your tax reporting.
- Audit or investment preparation: Preparing for fundraising or positioning your business for M&A activity can mean your in-house team is overworked. Outsourced accountants can prepare accurate, investor-ready financials and clean audit documents to set you up for success.
An outsourced accounting team can provide expert insights and highlight opportunities for growth. As your business grows, outsourced accounting services scale with you, adding tailored systems and advice depending on your needs. An outsourced team also takes the pressure off your internal team so that you have more time to focus on launching new product lines, improving customer experience, and expanding into new markets.
First, consider how much experience your potential partner has in e-commerce and retail. You‘re looking for a firm that is familiar with challenges like inventory management, multi-channel sales, and multi-state tax compliance. Look for expertise in areas like managing the cost of goods sold (COGS) and addressing seasonal or promotional impacts on revenue.
Next, check client testimonials, reviews, and references from businesses similar to yours to get a sense of how the level of support and communication style would mesh with your business. Lastly, ensure the firm's pricing structure aligns with your budget and that their services would be able to scale with you as the business grows or faces changes in the market.
Want to learn more?
Let’s discuss how we can help by managing your day-to-day accounting needs, or taking on a larger financial management role, so you can continue to deliver on your mission-critical goals.