The complete guide to eCommerce accounting: selling across borders
As an eCommerce business in Hong Kong, you need to maintain proper bookkeeping and accounting records as part of your company’s statutory requirements. If you find the task of tracking your books dull and tedious, you are not alone. However, as you take your business global and start selling to customers from around the world, the task of keeping up with your company’s financial transactions becomes ever more important. You will want to pay attention to stay on top of your business expense records and avoid making mistakes to save you time and hassle later.
This whitepaper will take you through everything you need to know to manage your books effectively, understand the financial position of your business, and draw on insights that can help you make better business decisions. It covers a range of topics including:
Choosing an accounting software
Setting up a multi-currency payment gateway
Setting up your accounting integration
Integrating your inventory and accounting
The balance sheet
The income statement
The cash flow statement
International taxes: All the basics you need to know
How to avoid excess fees when scaling internationally
How to track employee expenses when scaling internationally
Financial KPIs you need to measure
When to hire an accounting professional
What to ask a potential accountant
Is your Hong Kong eCommerce business looking to expand internationally? Book a free demo with us today to discover how Airwallex can help take the headache out of your bookkeeping tasks — so you can focus on scaling your business!
Release Notes: March 2022
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