Ecommerce Accountants for Melbourne Online Businesses | Shopify & Online Retail
Understand your true profit after product costs, platform fees, payment charges, refunds, freight and advertising—not just your total sales. Number Visions Accounting helps Melbourne ecommerce businesses maintain accurate records, manage GST and inventory, reconcile online sales channels and make better financial decisions as they grow.
Ecommerce Businesses We Support
- Shopify stores and direct-to-consumer brands
- Amazon and eBay sellers
- WooCommerce and BigCommerce retailers
- Multi-channel online retailers
- Importers and product-based ecommerce businesses
- Subscription-based online businesses
- Online wholesalers and distributors
- Growing ecommerce businesses with multiple entities
- Australian online retailers selling to overseas customers
Ecommerce Accounting Challenges That Can Affect Profitability
As an ecommerce business grows, increasing transaction volumes, multiple sales channels, inventory movements, payment platforms and tax obligations can make accurate accounting more difficult. Without structured reconciliation and reporting processes, errors can affect GST reporting, inventory values, cash flow and the reliability of financial reports
Shopify, Amazon, eBay, Stripe and other platforms may deposit a net amount after deducting refunds, merchant fees, marketplace charges and other adjustments. Recording only the bank deposit can understate sales and expenses and result in incorrect GST reporting.
Businesses selling through several platforms must reconcile sales, refunds, fees, discounts, shipping income and customer payments across different reports and settlement cycles.
Incomplete product costing can make gross margins appear higher than they really are. Inventory costs may include the supplier price, freight, customs duty, insurance and other directly attributable costs required to bring stock to its saleable location.
Ecommerce businesses may need to purchase stock months before receiving the related customer revenue. Poor forecasting can lead to excess stock, missed reorder opportunities or insufficient cash for tax, advertising and operating costs.
High transaction volumes can make it difficult to reconcile returned products, customer refunds, payment disputes, store credits and chargebacks accurately.
Strong revenue does not always mean strong profitability. Platform fees, advertising, fulfilment, shipping and discounting can cause some products or channels to generate considerably lower margins than others.
Online businesses may sell to Australian and overseas customers while importing products from foreign suppliers. The GST treatment can differ depending on the nature of the transaction, where the customer is located and how goods are supplied.
Looking to simplify your ecommerce accounting processes?
Stay on top of inventory, payroll, tax compliance, and business performance with reliable financial support.
Comprehensive Accounting Services for Ecommerce Businesses in Melbourne
From ecommerce bookkeeping and platform reconciliation to inventory accounting, GST compliance and tax planning, we provide structured accounting support for online retailers operating through one or multiple sales channels. Our services are designed to improve the reliability of your financial records, provide clearer visibility over product and channel profitability, and help you make informed decisions as your ecommerce business grows.
Ecommerce Bookkeeping
We manage day-to-day bookkeeping for online sales, operating expenses, platform charges, payment gateway fees and bank transactions. Timely reconciliations and accurate records support better GST reporting, cash flow management and financial decision-making.
Sales Channel and Payment Gateway Reconciliation
We reconcile gross sales from your ecommerce platforms against refunds, discounts, shipping income, marketplace fees, merchant charges, chargebacks and net deposits received into your bank account. This helps ensure that revenue, GST and selling expenses are recorded correctly rather than treating each platform payout as a single sales transaction.
Inventory, Landed Costs and Cost of Goods Sold
We help track inventory purchases, stock movements, goods in transit, landed costs and cost of goods sold. More accurate inventory accounting supports reliable gross-margin reporting, product-pricing decisions and year-end trading-stock calculations.
GST, BAS and Cross-Border Transaction Support
We assist with GST calculations, BAS preparation and agreed ATO reporting obligations. This may include reviewing Australian sales, exported goods, imported stock and relevant marketplace transactions.Where products are stored or supplied in an overseas jurisdiction, we can help identify when specialist foreign VAT, sales tax or local registration advice may be required.
Cash Flow Forecasting and Inventory Planning
We help you understand where cash is coming from and where it is being spent by monitoring sales receipts, supplier payments, inventory purchases, tax obligations and operating expenses. Cash flow forecasting can help identify potential shortfalls and support better inventory and growth decisions.
Accounts Payable And Supplier Management
We help organise supplier invoices, payment schedules and outstanding balances so that costs are recorded in the correct period and upcoming supplier commitments are visible. For wholesale or credit-account sales, we can also assist with customer balance and debtor reporting.
Cloud Accounting Setup And Management
We help establish and maintain cloud accounting systems such as Xero, MYOB AccountRight and QuickBooks Online. Depending on the agreed scope, this may include account setup, transaction rules, clearing accounts, reporting categories and reconciliation processes.
Foreign-Currency Accounting
We help record foreign-currency sales, supplier purchases, marketplace settlements and payment gateway transactions in Australian dollars. We also assist with the reconciliation of foreign-currency bank and merchant accounts and the recording of relevant foreign exchange gains and losses.
Tax Planning and Income Tax Compliance
We assist with income tax compliance and proactive tax planning based on the financial position, structure and future plans of your ecommerce business. We also help estimate upcoming tax obligations so that appropriate funds can be set aside.
Ecommerce Platforms and Accounting Systems
We work with financial information from commonly used cloud accounting systems, ecommerce platforms and payment gateways, including Xero, MYOB AccountRight, QuickBooks Online, Shopify, WooCommerce, Amazon, eBay, Etsy, Square, Stripe and PayPal.Depending on your existing systems and agreed service requirements, we can assist with accounting-software setup, data migration, clearing accounts, transaction-processing rules, reconciliation workflows and ongoing financial reporting.Where specialist ecommerce, inventory or integration software is required, we can work with the relevant implementation provider or software specialist to establish an appropriate accounting process.
Take Control of Your Finances Today
Stop guessing your numbers. Get clear insights into your cash flow, job profitability, and tax obligations with bookkeeping built for tradies. Keep your finances organised and your business on track with us today.
Industries We Support
Our Ecommerce Accounting Process
We follow a proven accounting process that begins with understanding your business, identifying your needs, and delivering tailored accounting solutions.
Initial Business And Systems Review
We review your business model, products, sales channels, payment platforms, inventory processes and existing accounting records.
Accounting Framework and System Design
We establish appropriate accounts, sales-channel clearing accounts, inventory categories and reconciliation processes based on your reporting requirements.
Historical Clean-Up and Implementation
Where required, we reconcile existing balances, correct historical transactions and implement the agreed accounting processes.
Ongoing Bookkeeping And Compliance
Our team provides ongoing bookkeeping, platform reconciliations, inventory accounting and agreed GST, BAS and tax-compliance services to help keep your financial records accurate and up to date.
Management Reporting and Advice
We prepare agreed financial reports and help you understand profitability, cash flow, inventory commitments and upcoming tax obligations.
Why Choose Us for Ecommerce Accounting in Melbourne?
Ecommerce Accounting Professionals: Number Visions Accounting is a Melbourne-based, CPA-led accounting firm and registered tax agent. We provide accounting, tax and advisory support to growing ecommerce and online retail businesses. Our accountants specialise in ecommerce accounting that improve reporting, compliance, provide practical strategies with greater accuracy and confidence.
Practical Advice for Australian Ecommerce Business: We combine an understanding of Australian tax and reporting obligations with practical ecommerce accounting processes. Our advice is tailored to your business model, sales channels, inventory arrangements and future growth plans.
Understanding of Multi-Channel Ecommerce Accounting: We understand that platform deposits do not necessarily represent gross sales. Our accounting processes consider sales, refunds, merchant fees, marketplace charges, inventory and settlement differences across multiple channels.
Structured Platform Reconciliations: We help reconcile sales-channel reports and payment settlements against the amounts received in your bank accounts, improving the reliability of revenue, GST and selling-expense records.
Accounting Systems That Support Growth: We help establish financial processes that can adapt as your business adds products, platforms, warehouses, employees or business entities.
Proactive Tax and Cash Flow Planning: We help estimate upcoming GST, income-tax and cash flow requirements so that financial obligations can be considered before they become urgent.
Clearly Defined Services and Fees: We provide a clearly defined scope of services and agreed fees so that clients understand what is included before work begins.
Grow Your Ecommerce Business with Expert Accounting Support
Strong online sales do not automatically result in strong profits. Platform fees, refunds, freight, advertising, inventory costs and payment charges can significantly affect how much the business retains.
Number Visions Accounting helps ecommerce businesses bring these numbers together through structured bookkeeping, platform reconciliations, inventory accounting, tax compliance and financial reporting. Our objective is to give you clearer information about cash flow, product margins and overall business performance so that you can make informed decisions as your online business grows.
Whether you operate a growing startup or an established online retail business, speak with our Melbourne accounting team about improving your bookkeeping, platform reconciliations, tax reporting and financial visibility.
Your Go-To Accounting Support for Melbourne Ecommerce
Manage your ecommerce business finances with greater clarity and confidence through tailored accounting support built around your operational needs.
FAQ
Frequently Ask Questions.
Ecommerce accounting is a specialised form of accounting designed for businesses that sell products through online stores, marketplaces and digital payment platforms.
Unlike regular accounting, ecommerce accounting must bring together information from multiple systems, including Shopify, Amazon, eBay, Stripe, PayPal, inventory applications and bank accounts. It must also account for platform fees, merchant charges, refunds, chargebacks, discounts, shipping income, foreign-currency transactions and inventory movements.
A properly structured ecommerce accounting system helps ensure that gross sales, expenses, GST, inventory and profitability are recorded accurately across each sales platform.
The amount deposited into your bank account by Shopify, Amazon, Stripe, PayPal or another platform is often not your total sales revenue.
Platforms may deduct merchant fees, marketplace charges, refunds, chargebacks and other adjustments before transferring the remaining amount to your bank account. Recording only the net deposit may understate both your sales revenue and business expenses. It may also result in incorrect GST reporting.
A proper payout reconciliation separates:
Gross sales
GST collected
Refunds and returns
Discounts
Shipping income
Platform and marketplace fees
Merchant processing charges
Chargebacks and other adjustments
The net amount deposited into the bank account
This provides a more accurate understanding of revenue, expenses and profitability.
An Australian ecommerce business will generally need to register for GST when its current or projected GST turnover reaches $75,000.
GST turnover is based on relevant business sales rather than business profit or the net amounts deposited into your bank account. This means platform fees, refunds and payment gateway deductions should be accounted for correctly when reviewing whether the registration threshold has been reached.
Once registered, the business will generally need to include GST in taxable Australian sales, claim eligible GST credits and report its GST position through Business Activity Statements.
Businesses approaching the registration threshold should monitor their sales regularly rather than waiting until the end of the financial year.
Goods sold to overseas customers may be GST-free when the relevant export requirements are satisfied. This generally requires the goods to be physically exported from Australia within the required timeframe and appropriate export records to be retained.
However, an overseas customer address does not automatically make every sale GST-free. The GST treatment can depend on where the goods are located, how they are delivered, who exports them and whether the required conditions are met.
Businesses selling digital products, services or goods stored in overseas warehouses may face different GST, VAT or foreign sales-tax obligations. Specialist advice may be required where products are stored or supplied outside Australia.
Each platform payout should be reconciled against the detailed settlement or transaction report provided by the relevant platform.
The reconciliation should identify the gross sales included in the payout, together with refunds, discounts, merchant fees, marketplace charges, chargebacks, GST and other adjustments. The final reconciled amount should agree with the net deposit received into the business bank account.
Depending on the number of transactions and platforms, separate clearing accounts may be established within the accounting software. These accounts help track amounts processed by each platform before they are transferred to the bank account.
Regular reconciliation helps identify missing deposits, duplicated transactions, unreconciled fees and GST reporting errors.
Yes. We can help establish processes for recording and reconciling refunds, customer returns, chargebacks, gift cards and store credits.
Refunds and chargebacks should be matched against the original sales and the related platform settlements. Where products are returned, the accounting records may also need to reflect the return of saleable stock or the write-off of damaged stock.
Gift cards and store credits require separate tracking because the business may still have an obligation to provide products to the customer in the future. Their accounting and GST treatment can depend on the terms of the arrangement and when the gift card or credit is redeemed.
Proper tracking helps ensure that sales, customer liabilities, GST and inventory records remain accurate.
The landed cost of inventory is the total cost incurred to purchase the products and bring them to their current location and condition.
Depending on the circumstances, landed costs may include:
- Supplier purchase price
- International and domestic freight
- Customs duty
- Freight insurance
- Customs clearance and brokerage charges
- Port and handling fees
- Packaging or preparation costs
- Other directly attributable costs
Accurate landed-cost accounting provides a more realistic cost of goods sold and gross profit margin. If only the supplier invoice is included, the reported product margin may appear higher than the actual margin.
Import GST should generally be reviewed separately because a GST-registered business may be entitled to claim an input tax credit where the relevant requirements are satisfied. The correct treatment will depend on the import arrangement and supporting documentation.
Inventory stored with a third-party logistics provider, fulfilment centre or external warehouse will generally remain part of the ecommerce business’s inventory where the business continues to own the products.
The accounting and inventory systems should track:
The quantity and value of stock at each location
Stock transferred between warehouses
Goods in transit
Products dispatched to customers
Customer returns
Damaged or missing stock
Samples and promotional products
Slow-moving or obsolete inventory
Adjustments identified during stock counts
The inventory records held by the business should be regularly reconciled against reports from the logistics provider. Ecommerce businesses are also generally required to account for the value of trading stock held at the end of the income year.
Yes. We can help record and reconcile foreign-currency sales, overseas supplier invoices, payment gateway settlements and foreign-currency bank accounts.
Foreign-currency transactions may include:
Sales received in currencies such as US dollars or euros
Supplier purchases from overseas
Foreign marketplace settlements
Currency conversion fees
Foreign payment gateway balances
International freight and customs costs
Exchange gains and losses
Australian tax-relevant amounts generally need to be translated into Australian dollars. The exchange rate and translation method used will depend on the transaction and applicable tax rules.
Maintaining separate records for foreign-currency transactions helps ensure that supplier costs, sales revenue, account balances and foreign exchange movements are reported correctly.
The reports required will depend on the size, sales channels and complexity of the ecommerce business. However, most growing online businesses should regularly review:
- Profit and loss statement
- Balance sheet
- Cash flow forecast
- Gross sales by platform
- Net sales after refunds and discounts
- Gross profit by product or product category
- Cost of goods sold
- Platform and merchant fees
- Shipping and fulfilment costs
- Advertising and marketing expenses
- Inventory value and turnover
- Slow-moving and ageing inventory
- Refund and chargeback analysis
- Accounts payable
- GST and income-tax provisions
- Budget versus actual performance
These reports can help business owners understand which products and sales channels are generating strong margins, where costs are increasing and how much cash may be required for inventory, tax and future growth.