Ask the Expert: Ecommerce Sales Tax

Ask the Expert: Ecommerce Sales TaxAnswers to 4 Common Sales Tax Questions

We hear ecommerce sales tax horror stories all the time. In this increasingly complex and changing industry, both new and experienced sellers are often confused about how much sales tax they should charge—or even if they should charge it at all. Let me be clear: collecting sales tax is not optional for ecommerce sellers. If your business has a significant presence, or nexus, in a state that collects sales tax, but you’re not collecting it at the time of sale, you are still liable for tax in that state, which means it comes out of your pocket. Up-to-speed on #ecommerce sales #tax law? Read this before you sell. #taxcompliance #unify Click To Tweet

That’s a clear start, but unfortunately, figuring out your local rate just scratches the surface of what you should know about sales tax. There are many variables. Sellers—who are usually not tax experts—are often left wondering if, when, and how much to collect and remit in sales tax. In the most general of terms, if you’re in the business of selling tangible products you may need to register, collect, and remit sales tax. To keep it simple, answers to these questions can help get you started in your sales tax self-assessment.
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NEW FEATURE: 1-Click Accounting for Amazon

Webgility 1-Click Accounting for AmazonEcommerce sellers have been asking, and today we’re delivering.

We’re thrilled to announce a fast and easy way to settle and sync Amazon deposits and costs with QuickBooks Online or Xero. Webgility 1-Click Accounting for Amazon is a new enhancement to our Webgility Unify software that allows sellers of all sizes to automatically post Amazon orders, refunds, expenses, and payments into accounting software. In doing so, this feature eliminates the need for any additional data entry or a separate clearing account.

Why does this matter so much to Amazon sellers? Because settling up properly is a key making more money on the world’s biggest marketplace. And since most Amazon sellers operate with wire-thin margins, they need to have more visibility into sales, fees, and returns in order to turn a profit. Amazon sellers also need detailed information in their trend reports, in a much more granular fashion than they can get from Amazon. Webgility Unify provides sellers with automation, data analytics and business insights to help them reduce data entry costs, improve margins, and drive higher ROI on Amazon.

Because the Amazon Settlement Report contains settled, unsettled orders, and refunds from previous sales cycles and is only delivered by Amazon every two weeks, it’s difficult for sellers to reconcile their accounts between reports. This forces the creation (and maintenance) of a separate clearing account for Amazon sales that come in during that period. Webgility 1-Click Accounting allows sellers to instantly—and automatically—settle in accounting all in one batch once they receive their Amazon Settlement Report.NEW 1-Click #Accounting for @Amazon--a fast, easy way to settle costs with @QuickBooks or @Xero #Unify Click To Tweet

Webgility Unify makes reconciliation easy for both sellers and their accountants. With Webgility 1-Click Accounting, Amazon sellers can now see a complete list of orders from the current settlement period, whether they’ve received payment from Amazon, and what Amazon has charged them in fees and expenses.

With Webgility 1-Click Accounting Amazon, sellers can:

  • Automatically post Amazon orders, refunds, expenses, and payments as a batch directly into QuickBooks or Xero
  • Instantly reconcile the seller’s accounting with their Amazon Settlement Report with no additional data entry
  • Sync Amazon sales and refunds daily—individually or as a batch
  • Track Amazon fees/expenses as separate transactions or records them as one line item
  • Sync historic data from Amazon Settlement Reports going back 120 days

For an even deeper dive into this new feature, join our CEO, Parag Mamnani on a webinar on February 22, 2018 at 10 a.m. PST / 1 p.m. EST: Mission Possible—Easy Amazon Reconciliation.

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How to Conquer Amazon

Webgility 1-Click Accounting for AmazonHint: Just take it one Settlement Report at a time

I get this question a lot: “What are the biggest hurdles SMBs come up against when considering selling on Amazon?”

SMBs are often intimidated by the prospect of selling on Amazon, but the exposure Amazon offers is beyond anything else in the market. And because hefty Amazon fees add up quickly, it’s hard to actually turn a profit. In fact, many sell on Amazon just for the exposure and consider themselves lucky to break even in the end. But it doesn’t have to be that way—because Amazon sellers operate with such wire-thin margins, they must make sure those margins are fully optimized. How so? #SMB tip: The secret to conquering @Amazon? Take it 1 Settlement Report at a time. #Unify #Staytuned… Click To Tweet

From a high level, lack of visibility into Amazon margins in real time is one of the great hurdles SMBs must overcome to make it work, and the secret lies in the Amazon Settlement Report. Because Amazon delivers this report every 14 days, the typical seller needs to create a separate clearing account for deposits that come in while they wait for their Amazon actuals. Once it arrives, the seller has to manually input all those details into QuickBooks or Xero, which can introduce costly errors and confuse an otherwise tidy accounting system. When Amazon reconciliation is handled properly—and, ideally, automated—a seller can stop all the data entry, no longer ballpark these important numbers, and finally settle up with confidence.

Webgility Unify software eliminates the need for manual data entry and ensures that sellers’ data—financials, inventory, and shipping—is totally accurate and timely. This vastly improves the experience for sellers and their trusted advisors, because they can focus on learning from their data to gain insights to use strategically in real time. Our goal is to help all sellers—including those on Amazon—build sustainable businesses that grow instead of just maintaining back-end operations. I believe 2018 will be a tremendous year for ecommerce sellers, especially those who seek solutions with technology. When you’re ready, we’re here to help. 
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Unify Your Financials with QuickBooks

Now more than ever it is vital for a business to centralize their financials.

As you know, “commerce” now involves both brick-and-mortar stores and selling on multiple channels online. And that’s just the first layer of complexity—this year at QuickBooks Connect, I learned that the average SMB uses approximately 15 applications to manage their business.

Unfortunately, many businesses are still manually entering in much of their sales, inventory, and shipping data into their QuickBooks. But why? This method creates many problems, some of them include:

  • Human error
  • Time wasted
  • Money spent

The good news is, there are several apps out there to move data for you. The bad news is that many of these apps do not communicate with one another. Sure, there is ERP software out there that will take care of it all, but it’s generally designed for the enterprise level business and it’s expensive.Why are so many #ecommerce businesses still manually entering data? There's a better way. #unify Click To Tweet” 

While an ERP may feel like a logical step for a maturing SMB, I would recommend waiting. If you are considering an ERP, it’s likely that you already have many of the necessary tools, but still struggle because those tools are not in sync. When your tools are not in sync, they cause a mess and confusion, which is more manual work. Continue reading

See You at QuickBooks Connect 2017!

See You at QuickBooks Connect 2017!Stop by Booth B1 for a chance to win big!

It’s that time of year again. It’s no surprise, we’re so excited to attend QuickBooks Connect 2017 at the San Jose Convention Center on November 15-17. And we’re crossing our fingers that we’ll run into a few familiar faces. As you know, this important show presents an ideal opportunity for accountants, bookkeepers, QuickBooks ProAdvisors, and SMBs to connect with our experts, whose mission is to make business easier for all online sellers. At Booth B1, our newly expanded Webgility team will reveal the latest features of our Unify software and demonstrate how Unify eliminates the need for manual data entry and back-office busywork, ultimately giving SMBs the focus and insight they need to grow strategically.Best booth at #QBConnect? See what's going on with @webgility at B1. Serious prizes and much more Click To Tweet

We invite all QuickBooks Connect attendees to stop by Booth B1 to

  • Guess how many LEGOs are in the box for a chance to win an Amazon Echo;
  • watch a demo of Webgility’s Unify and instantly earn $50;
  • earn even more for every client referred for a demo;
  • take our Trusted Advisor survey—to give input on program direction and be part of its new program—for a chance to win an Oculus Rift;
  • get your Avalara passport stamped—Webgility’s B1 is an official stop!

Every year we look forward to QuickBooks Connect, because it brings together two of our favorite groups—QuickBooks ProAdvisors and SMBs. We’ve recently added some amazing capabilities to help online sellers make it easier to run their back-office and we’re looking forward to sharing it with the QuickBooks community.

See you at the show!