E-Commerce & Retail Bookkeeping in Jacksonville

A $10,000 Shopify payout might represent $12,000 in gross sales, minus $800 in refunds, $350 in processing fees, $500 in sales tax collected, and $350 in app fees. If you book the $10,000 as revenue, your sales are understated by 20%, your fees are invisible, and your sales tax liability is missing. We record each component from the channel's payout report, so your P&L shows what actually happened and your sales tax liability is correct.

Inventory purchases go to the balance sheet as an asset, not to expenses. Each month we adjust inventory and record cost of goods sold based on your inventory system (Shopify, Cin7, inFlow) or a monthly count. That gives you a stable gross margin instead of a P&L that shows a huge loss the month you restock and a huge profit the next. For smaller sellers under the IRS inventory thresholds, we'll discuss simplified methods with your tax preparer.

Since Florida's marketplace facilitator law took effect in 2021, Amazon, Etsy, eBay, and Walmart collect and remit Florida sales tax on sales through their platforms. Shopify does not; you remit tax on Shopify and in-store sales yourself. We separate the two in your books so your DR-15 reflects only what you owe directly. If you sell into other states, we'll help you track where you've crossed economic nexus thresholds.