E-commerce bookkeeping and month-end close

A useful close pack answers three questions: do the balances tie to supporting records, which items still need evidence, and who is responsible for finishing the period? Sales, payouts and bank receipts are checked through their supporting schedules, with any unresolved difference carried into an open-items list.

Use this work when payout differences recur, inventory costs arrive late or several versions of the accounts circulate. Start by defining the accounts, channels, entities, currencies, periods and accounting basis to cover.

List the records available and the person responsible for each. Keep file dates, currency and period coverage with the exports so the preparer can trace differences. Agree access and handling before transferring financial records.

The close pack combines financial statements with reconciliation schedules and a record of outstanding questions. Assign a preparer and reviewer, with clear coverage for each task.

• Reconciliation schedules for agreed bank, card and payout-clearing accounts, with references to supporting records.
• A sales and settlement mapping, including the treatment of fees, refunds and outstanding clearing balances.
• An inventory and COGS support schedule within the agreed accounting policy and record coverage.
• A P&L, balance sheet and cash movement view for the agreed period, with a close checklist and preparation status.
• An open-items and adjustment log showing the question, evidence needed, responsible person and effect on the reports.

Shopify's payout guidance identifies transaction fees, refunds, chargebacks and adjustments as items to investigate. It also distinguishes a payout sent to a bank from the bank showing the receipt. These are reasons to trace a difference through the settlement records and bank statement before proposing a ledger adjustment.

Choose one preparation owner for each task. Full preparation covers the scoped books and close materials; a partnered arrangement uses your bookkeeper's records for the agreed review, reporting and planning. Assign responsibility for adjustments and close review in writing.

The sales mapping is prepared, but one settlement still needs to be matched to a bank receipt. The reviewer requests the bank reference and keeps the item open. The close pack shows the evidence required, the owner of the action and the effect on period finalisation.

Compare Core for bookkeeping and monthly close. Growth adds CFO strategy and decision scenarios to that foundation. Keeping your bookkeeper changes the division of work and the quote; choose a package by the work you need.

Separate setup, historical catch-up and recurring work in the quote. Specify the covered accounts and periods, report formats, reporting dates, software costs and handover responsibilities.

• Historical cleanup and unsupported opening balances require a separate scope.
• Tax filings, legal advice and statutory assurance need separate specialist arrangements.
• Consolidation, specialist multi-currency work and lender or fundraising packages need a defined scope and delivery owner.
• Software changes, data connections and any payment-authority arrangement are scoped separately.

Set the responsibilities, records and reporting calendar before preparation begins.

Start with the free initial e-commerce finance audit. Describe your channels, who keeps the books, the periods involved and the difference you need explained. Agree which available records and period the diagnostic will cover.