Shopify Seller Financials | eBiz Accounting

Between sales tax compliance, bookkeeping, and understanding your nexus obligations, managing your Shopify financials requires precision. At eBiz Accounting, we specialize in helping Shopify sellers stay compliant, organized, and profitable. Our expert eCommerce CPAs ensure that your business is financially sound, tax-compliant, and ready for growth. Contact an ecommerce business accountant today for assistance.

Understanding Sales Tax Nexus for Shopify Sellers

Sales tax laws have changed dramatically in recent years, particularly after the 2018 South Dakota v. Wayfair decision. If you’re selling on Shopify, you may have sales tax nexus in multiple states—even those where you don’t have a physical presence. Nexus is established through the following:

Physical Presence: A warehouse, office, or employees in a state create nexus.
Economic Nexus: Many states require you to collect sales tax if you exceed a revenue or transaction threshold (e.g., $100,000 in sales or 200 transactions).
Marketplace Facilitator Laws: While Shopify is not a marketplace like Amazon, some states still impose collection responsibilities on online sellers.

Determining where you have nexus is critical to staying compliant. Our team helps Shopify sellers analyze their sales data, identify nexus states, and register for sales tax permits where necessary.

Shopify Sales Tax Compliance & Filings

Once you’ve identified your nexus states, collecting and remitting sales tax is your next challenge. Shopify provides tools to collect sales tax, but it’s up to you to ensure that:

The correct tax rates are applied (which can vary by state, county, and city).
You’re remitting sales tax on time.
You avoid costly penalties for incorrect filings.

At eBiz Accounting, we offer end-to-end Shopify sales tax services, including:

Automated tax calculations – We ensure your Shopify settings are configured correctly.
Sales tax reporting – Clear, accurate reports showing what you owe.
Filing & remittance – We handle tax filings on your behalf, ensuring compliance.

Sales tax laws are constantly evolving. We keep you updated and ensure your Shopify store remains compliant, so you can focus on selling.

Shopify Bookkeeping & Accounting Services

Accurate bookkeeping is essential for Shopify store owners. Unlike traditional brick-and-mortar businesses, Shopify accounting involves tracking:

Cost of Goods Sold (COGS) – Understanding inventory costs to maintain profitability.
Merchant Fees – Shopify Payments, PayPal, and third-party processor fees.
Sales Channels – Revenue from multiple sources (Shopify, Amazon, eBay, etc.).
Chargebacks & Returns – Factoring refunds and disputes into financial statements.

We provide eCommerce-specific bookkeeping solutions tailored to Shopify sellers. Our team ensures that your transactions are recorded properly, so you always have a clear picture of your business’s financial health.

Cash Flow & Profitability Insights

Many Shopify sellers focus on revenue but struggle with profit margins and cash flow management. We help businesses:

Track profitability per product.
Identify hidden costs that eat into margins.
Implement strategies to improve cash flow and scalability.

With real-time financial reporting, you’ll know exactly how your Shopify store is performing at any given moment.

Let’s Simplify Your Shopify Financials

Running a Shopify business comes with enough challenges—let eBiz Accounting take the stress out of sales tax, bookkeeping, and compliance. Whether you’re just starting or scaling up, our expert Shopify accountants will ensure your financials are in order, allowing you to focus on what matters most: growing your online store. Contact us today for a consultation and let’s make your Shopify accounting stress-free!