![]() Factors to consider while adding transactions to the template Once we click on the button, this automatically inserts a new income transaction with today’s date (by default). In order to add an Income transaction using the template, we need to click on the “Add Income” button (as shown above). How to add a Transaction to the E-Commerce Bookkeeping template Entering Transactions as an E-Commerce business owner for the E-Commerce Bookkeeping Template Liabilities Transactions - All transactions that are related to liabilities of a business will fall under the Liabilities Transactions. Income Transactions - All transactions that are related to generating revenue for the business will fall under the Income Transactions.Įxpense Transactions - All transactions that are related to expenses for the business will fall under the Expense Transactions.Īssets Transactions - All transactions that are related to assets of a business will fall under the Assets Transactions. There can be 4 possible types of transactions that can be added as an E-Commerce owner: Once the accounts are set up correctly we are ready to start using the template as required for our bookkeeping needs.Īdding Transactions as an E-Commerce owner Thus 100 units would be the Opening Units in this scenario.Īsset Class - If the account is related to an asset and is related to either “Inventory” or “Investment”, specify that in the Asset Class section. A common example is investment in “Shares” which has an Opening Balance of let’s say, $1000 for 100 units being held at the start of the Financial Year. ![]() Opening Units - If there’s an account which has a Opening Balance and a specific number of units at the start of the financial year, then it can be added for the account. A typical example is Salary which is received on a “Monthly” basis. Payment Frequency - If there’s an account where payment is made or received on a periodical basis, add that payment frequency to the account added. You can add your own classification as desired. Opening Balance - Add the Opening Balance of Assets or Liabilities as at the start of the financial year (if any).Ĭlassification - Classify your added account under Debt, Bills, Savings, Subscriptions etc for correct reporting. Name of the Account - Specify the name of the account correctly, such as “Accounts Receivable” to be added under Assets. Here are some of the key factors to consider while adding accounts as an e-commerce owner for the e-commerce business: What factors to consider while adding accounts for an E-Commerce Business Factors to consider while adding accounts for an E-Commerce Bookkeeping Template Setting up Accounts for the E-Commerce Bookkeeping Template In order to use the above template we need to add all the above possible sources of income, expenses, assets and liabilities as an e-commerce owner (as shown below). Liabilities - Common accounts include Accounts Payable, Loans Payable, Taxes Payable etc. ![]() Income - Common accounts include Digital Products, Dropshipping Revenue, Subscription Services etcĮxpenses - Common accounts include Operating Costs, Utilities Bills, Advertising Expenses etcĪssets - Common accounts include Cash and Bank balances, Inventory, Property, Investments etc. Here are some of the most common types of accounts related to income, expenses, assets and liabilities that an e-commerce owner would need: Setting up the Accounts for an E-Commerce business Income, Expenses, Assets and Liabilities.Ĭreate transactions related to Income, Expenses, Assets or Liabilities in the template. In order to use the E-Commerce Bookkeeping Template we need to go through the following 2 steps:įirst we need to set up the necessary accounts as an e-commerce owner i.e. How to Use E-Commerce Bookkeeping Template Track Debt Payments, Bills Payments, Subscription Expenses, do Budgeted Analysis, calculate Savings Estimates, track investments performance and much more. Track Income, Expenses, Assets and Liabilities associated as an e-commerce owner.įind Tax Liabilities for each quarter, assess Net Worth and find Cash Flow Movement as per different activities being an e-commerce owner. Balance Sheet, Profit and Loss Statement and Cash Flow Statement. Gain access to the 3 important financial statements as an e-commerce owner, i.e. Here are the core features we are looking to achieve using the E-Commerce Bookkeeping Template: How to download E-Commerce Bookkeeping templateĬlick Here to gain access to the E-Commerce Bookkeeping Template Features of E-Commerce Bookkeeping Template This template is primarily meant for people looking for a bookkeeping template to manage their bookkeeping activities as an E-Commerce owner in an easy and intuitive way.
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