Understanding e-commerce business models: Direct-to-Consumer (DTC), Amazon FBA, Shopify, multi-channel sellers

Overview of US GAAP principles for e-commerce businesses

Key differences between e-commerce and traditional retail accounting

Introduction to the US tax season (February to July) and opportunities for Indian accountants

Understanding e-commerce revenue streams: product sales, subscriptions, digital products, marketplace fees

Cash vs. accrual accounting in e-commerce contexts

Introduction to e-commerce platforms: Amazon Seller Central, Shopify Admin, WooCommerce

Setting up your remote work toolkit: time tracking, project management, communication protocols

Industry Focus: Understanding CPAs, service businesses, startups, and e-commerce brands as potential clients

Module 2: QuickBooks Online & Xero Mastery for E-commerce

QuickBooks Online (QBO) fundamentals: navigation, dashboard, and basic setup

Xero fundamentals: navigation, dashboard, and basic setup

Chart of Accounts design specific to e-commerce businesses

Setting up products and services in QBO for inventory and non-inventory items

Creating and customizing invoices, bills, and expense tracking

Bank and credit card account setup and linking

Automated bank rules: creating rules to categorize recurring transactions automatically

Journal entries for complex e-commerce transactions

User permissions and multi-user collaboration settings

QBO vs. Xero: when to recommend which platform to clients

Practice Exercise: Set up a complete Chart of Accounts for an Amazon FBA seller

Understanding Amazon Seller Central: reports, payments, and settlement cycles

Decoding Amazon settlement reports: payouts, fees, refunds, and chargebacks

Amazon fee structures: referral fees, FBA fees, storage fees, long-term storage fees

Recording Amazon sales transactions in QBO/Xero

Handling refunds, returns, and customer reimbursements

Amazon reimbursements: lost/damaged inventory, warehouse errors

Recording Amazon advertising costs (PPC, Sponsored Products)

Dealing with reserves and payment holds

Multi-marketplace accounting: Amazon US, UK, Canada, EU

Practice Exercise: Process a complete Amazon settlement report from CSV to QBO

Understanding Shopify Admin: orders, products, and financial reports

Shopify payout structure and settlement timing

Recording Shopify sales: gross sales, discounts, refunds, shipping, taxes

Shopify payment gateway fees vs. external payment processors

Handling Shopify apps that affect accounting (subscription apps, upsell apps)

Recording shipping costs and carrier-calculated rates

Gift cards, store credit, and discount code accounting

Shopify Plus considerations for high-volume sellers

Multi-currency Shopify stores: foreign exchange gains/losses

Practice Exercise: Reconcile a month of Shopify payouts with bank deposits

Introduction to A2X: what it does and why it's essential

Setting up A2X for Amazon, Shopify, and eBay

Understanding A2X settlement summaries and journal entries

How A2X automates revenue recognition and COGS calculation

Mapping A2X accounts to your Chart of Accounts

Handling A2X splits for multi-entity or multi-marketplace sellers

Reconciling A2X summaries with actual bank deposits

Troubleshooting common A2X issues: missing settlements, unmapped accounts

A2X reports and dashboards for client communication

Why most US accountants don't use A2X - and why that's your advantage

Practice Exercise: Set up A2X for a dual-platform seller (Amazon + Shopify)

Understanding payment gateway ecosystems and fee structures

Stripe: payouts, fees, disputes, refunds, and hold periods

PayPal: transaction types, currency conversion, holds, and reserves

Payoneer: cross-border payments and multi-currency management

Razorpay: Indian payment gateway for cross-border e-commerce

Recording payment processor fees as expenses

Handling chargebacks and dispute resolution accounting

Multi-gateway reconciliation: when clients use multiple processors

Foreign currency transactions and exchange rate recording

Creating bank reconciliation workflows for each payment gateway

Practice Exercise: Reconcile Stripe payouts with actual deposits and record fees

Inventory accounting methods: FIFO, LIFO, weighted average (focus on FIFO for US)

Understanding inventory as an asset on the balance sheet

Recording inventory purchases and landed costs (product + shipping + duties + fees)

Amazon FBA inventory tracking: units shipped, received, sold, lost, damaged

Direct-to-Consumer (DTC) inventory management

SKU-wise profit margin calculations

Cost of Goods Sold (COGS) recognition timing

Handling lost, damaged, and disposed inventory

Inventory adjustments and write-offs

Month-end inventory valuation and reconciliation

Practice Exercise: Calculate landed cost and COGS for a multi-SKU FBA shipment

Understanding US sales tax: state-level taxation system

Economic nexus thresholds by state ($100k revenue or 200 transactions)

Physical nexus vs. economic nexus

Marketplace facilitator laws: when Amazon/Shopify collects tax for you

Identifying which states require sales tax registration for your client

Sales tax exemptions: resale certificates, exempt products

Recording sales tax collected as a liability

Sales tax filing frequencies: monthly, quarterly, annual

Using tools like TaxJar, Avalara, or QuadPay for sales tax automation

Common sales tax mistakes e-commerce sellers make

Industry Application: Create a nexus map for a $2M annual revenue Shopify seller

Challenges of multi-channel selling: Amazon + Shopify + eBay + Walmart

Identifying potential double-counting scenarios

Using unique transaction IDs to track sales across platforms

Reconciliation methodology: platform settlements vs. bank deposits vs. accounting records

Building a master revenue reconciliation spreadsheet

Handling inventory that sells on multiple channels

Recording platform-specific fees without duplication

Cross-platform refund and return tracking

Tools and techniques for multi-channel reconciliation

Practice Exercise: Reconcile a month of sales across Amazon, Shopify, and PayPal

The month-end close checklist for e-commerce clients

Bank and credit card reconciliation best practices

Ensuring all settlements and payouts are recorded

Inventory reconciliation and adjustments

Accrual entries for outstanding bills and invoices

Prepaid expenses and deferred revenue recognition

Review of balance sheet accounts: AR, AP, inventory, liabilities

Finalizing the Profit & Loss statement

Balance sheet review: ensuring it balances and makes sense

Creating a month-end close timeline and SOP

Common month-end errors and how to catch them before client review

Practice Exercise: Perform a complete month-end close for an e-commerce client

Understanding what different stakeholders need from financial reports

Creating clean, client-friendly Profit & Loss statements

E-commerce-specific KPIs: gross margin, net margin, COGS %, advertising ROAS

Building custom reports in QBO/Xero

Dashboard reporting: monthly snapshots for quick client review

Cash flow statements and cash flow forecasting

Balance sheet presentation and explanations for non-accountants

Reporting for investor-backed startups: burn rate, runway, unit economics

SaaS-specific metrics: MRR, ARR, churn, LTV/CAC

Creating visual reports using Google Sheets, Excel, or data visualization tools

Industry Case Study: Building a monthly reporting package for a venture-backed DTC brand

Setting up professional communication channels: Slack, email, Zoom

Creating weekly Loom videos: screen recordings for client updates

Best practices for async communication with US/UK clients across time zones

Using ClickUp, Asana, or Monday.com for task management and transparency

Writing clear, concise Slack updates and email summaries

Presenting financial results: storytelling with numbers

Handling difficult conversations: explaining errors, missed deadlines, bad news

Building client trust through proactive communication

Creating SOPs and documentation for your own processes

Time management for remote work: billing, time tracking, setting boundaries

Practice Exercise: Record a Loom walkthrough of a P&L for a mock client

Overview of the US federal income tax system

Understanding Form 1040: US Individual Income Tax Return

Filing status: single, married filing jointly, head of household, etc.

Standard deduction vs. itemized deductions

Common income sources: W-2 wages, 1099 income, business income (Schedule C)

Understanding tax brackets and marginal vs. effective tax rates

Tax credits vs. tax deductions

Self-employment tax (Schedule SE) for e-commerce sellers

Quarterly estimated tax payments (Form 1040-ES)

Common forms e-commerce business owners encounter: Schedule C, Schedule SE, Form 8829

Tax season timeline: January to April 15 deadline

Industry Application: Preparing a simple Schedule C for a sole proprietor e-commerce seller

Business entity types: sole proprietorship, LLC, S-Corp, C-Corp

Understanding pass-through taxation vs. corporate taxation

Form 1120: US Corporation Income Tax Return basics

Form 1120-S: S-Corporation Tax Return basics

State income tax obligations: which states have income tax

State tax filing requirements for multi-state nexus

Understanding state apportionment and allocation methods

Recording tax provisions and tax liabilities on the balance sheet

Working with CPAs and Enrolled Agents: your role as the bookkeeper

Tax planning opportunities for e-commerce businesses: timing of expenses, accelerated depreciation

Common tax forms you'll encounter: 1099-K, 1099-NEC, W-9, Form SS-4 (EIN application)

Practice Exercise: Identify tax filing obligations for an LLC taxed as an S-Corp selling in 5 states

Handling Amazon FBA reimbursements and inventory adjustments

Recording cryptocurrency payments for e-commerce

Subscription box accounting: recurring revenue and COGS timing

Crowdfunding campaign accounting (Kickstarter, Indiegogo)

International expansion: recording foreign subsidiary transactions

Handling returns, warranties, and customer refund liabilities

Recording influencer partnerships and affiliate commissions

Real estate and equipment purchases for warehouse operations