These days, we’re spending more and more money online, but the competition is intense, the margins incredibly narrow, and developments take place at lightning speed. So for an e-commerce company, working with an accountant who understands the Internet provides a clear benefit.
In general, e-commerce companies are young. They grow rapidly and mainly focus on the front end of the business. While this may look slick and smart, it’s essential to have everything behind the scenes in order as well.
Issues facing e-commerce companies.
Do you have reliable, day-to-day management information that you can use to direct your operations? Do you have an effective set-up for your order fulfilment? Is your inventory management set up properly? Do commercial and actual sales match up? Are you clear on what each euro of turnover has cost you? These are matters that we regularly discuss with e-commerce companies.
Discussion partner for management and directors
‘As well as providing basic accounting services, we also function as an operational and strategic discussion partner for the management and directors of e-commerce companies. For example, we provide monthly reports identifying trends and developments and adding depth to the figures. We also consult with them on questions such as: where would you like to be in one year? And in five years? And what steps do you need to take right now in order to get there – for example with respect to international group development?’
Taking care of tax matters
Lentink also provides tax advice and services to e-commerce companies. This can be a complicated area, particularly if you’re selling internationally. As a partner to Kreston, Lentink is also well-versed in matters such as international VAT returns and transfer pricing. ‘We map out your situation and then provide you with advice on how to maximise your opportunities within the laws and regulations.’