YOU SELL DIGITAL STUFF.
Maybe you’re selling a subscription for content you develop, a paid-for blog, videos, music, training content, ebooks, or 3D printer images. Or maybe you’re selling your coaching or training services. You are different from other ecommerce sellers because you do not have a physical product to ship or inventory to maintain. Although many accountants may understand the nature of your business, they can’t handle managing the flow of data. But we can.
HERE ARE YOUR CHALLENGES.
You need to make sure that customers can only access the information they’ve paid for and not share it for free across the internet. You also need to ensure that subscribers only access their own information.
Affiliates and Partners
Most digital goods businesses derive sales from marketing through bloggers, other peers, and others who drive content to your site. In many cases you provide commissions, and if this isn’t set up right, it can be insanely time-consuming and make you want to pull your hair out./p>
It’s challenging to know when you should be investing in more inventory, paying yourself more, increasing your marketing, or setting money aside for future needs. You need guidance on managing multiple credit cards, alternative financing (i.e., Kabbage or PayPal loans), or getting a bank loan.
Managing Site and Content
You want your site to be fresh and relevant by continually developing and posting new content. You also spend time managing reviews, adjusting pricing, and providing discounts and special deals. All of this takes time, and you need to monitor how pricing and discounts impact your bottom line.
Keeping the customers happy is mission critical, so you need to stay on top of providing good customer support, providing feedback, answering questions, issuing refunds, and dealing with chargebacks.
You have to collect sales tax for sales in states where you have “nexus,” and of course, you then need to remit it to the government. But guess what? Digital products are taxed in some states and have a crazy mix of rules based on the type of content, where you are, and where your servers are. (Have you checked lately in which state “the cloud” is located?) Yeah… it’s just one more headache you don’t have time to deal with.
DIGITAL ACCOUNTING SERVICES.
Catching Clouds provides a complete outsourced ecommerce accounting service for your digital goods business.
- Ecommerce consulting – ongoing business, technical, and process optimization guidance
- Setup of integrated cloud accounting, cloud inventory, sales tax, and supporting tools
- Sales tax registration and filing
- Daily bookkeeping
- Virtual controller service
GET YOUR HEAD IN THE CLOUDS.
At Catching Clouds, we work very hard to make sure relationships are at the front of every account. We would love to get to know you and discover ways that our team can bring value to your ecommerce company. Click the button below to contact our team and get started with Catching Clouds! We look forward to working with you.