Our old accountants just didn’t ‘get’ e-commerce. Pennyhills seamlessly took over, and their specialised insight has been invaluable. We now have a clear financial picture and the strategic support we need to grow our Amazon business. Highly recommended for online retailers!
Case Study
Taking over eCommerce accounting
Leads Kompany Ltd
Industry: eCommerce, Online Retail
Est. 2019
Team Size: 1
Specialist E-commerce Accountancy & Scalability Support (Accountant Switch)
The Challenge
Leads Kompany Ltd operates within the fast-paced world of eCommerce, primarily through the Amazon UK marketplace. As their online sales volume increased and their product lines diversified, the financial complexities associated with managing multi-channel sales, inventory, international transactions, and platform fees became increasingly challenging. Their previous accounting provider, designed for more traditional businesses, struggled to keep pace with the unique demands of a rapidly scaling eCommerce operation. Leads Kompany Ltd found themselves needing an accountant with specific expertise in online retail, capable of offering more detailed financial insights and strategic support that truly aligned with their accelerating business evolution.
Pennyhills’ Solution
Pennyhills partnered with Leads Kompany Ltd, providing specialised eCommerce accountancy services tailored to their dynamic online retail environment. Our solution focused on:
Seamless Transition & eCommerce Data Integration
We facilitated a smooth transfer from their former accountant, quickly integrating with their eCommerce platforms and payment gateways to ensure accurate and efficient data capture of sales, refunds, fees, and payouts.
Specialised eCommerce Reporting & Analysis
Beyond standard accounts, we provided granular financial reporting specific to eCommerce, including profit margins per product line, analysis of marketplace fees, and tracking of international sales implications. This provided Leads Kompany Ltd with actionable insights crucial for their scaling operations.
Proactive Tax & VAT Advice for Online Retail
We offered proactive advice on navigating complex VAT rules for online sales, particularly concerning international transactions and potential overseas VAT registrations, ensuring compliance and optimising their tax position in a cross-border environment.
Strategic Support for Growth
We worked closely with Leads Kompany Ltd to understand their growth aspirations, offering strategic financial guidance on inventory management, cash flow forecasting for bulk purchases, and tax-efficient reinvestment of profits back into their eCommerce expansion.
Key Results & Impact
By choosing Pennyhills, Leads Kompany Ltd gained a specialist accounting partner who truly understood the intricacies of their eCommerce business. The transition was seamless, and the tailored support enabled them to manage their growing online operations with far greater clarity and financial control. They now benefit from accountancy services that precisely meet the demands of their evolving eCommerce business, allowing them to confidently scale their operations, optimise profitability, and focus on expanding their presence in the competitive online marketplace.
Ready to get started?
Is your e-commerce outgrowing your accountant? Scale confidently with our specialist online retail support!