Accounting for Irish Business Sectors
Accounting for Retail & eCommerce Businesses
Retail and eCommerce businesses face challenges involving inventory management, payment platforms, VAT compliance and cash flow. Stratancy Consulting helps maintain accurate financial records and improve profitability.
Who this sector page is for
Retail stores, online retailers, Shopify merchants and Amazon sellers. Stratancy Consulting provides clear, proportionate accounting support based on your business circumstances and engagement requirements.
Accounting support may include
- Inventory accounting
- Multi-channel sales reporting
- Irish and EU VAT compliance
- Profitability and margin analysis
Sector Accounting Context
Common accounting challenges in this sector
Reconciling multiple sales channels
Website sales, marketplaces, card processors and physical retail systems can all settle differently, so gross sales, fees, refunds and bank deposits need to reconcile.
Inventory and margin visibility
Stock purchases affect both cash and profitability. Consistent inventory and cost records help owners understand gross margin rather than focusing only on sales.
VAT and cross-border activity
E-commerce transactions can involve different customer locations, marketplaces and VAT treatments, so transaction data needs enough detail for the relevant reporting.
Records & Information
What we normally review
The exact records depend on your structure and engagement, but these are common starting points for businesses in this sector.
- Shopify, Amazon or other marketplace reports
- Payment processor settlement reports
- Purchase and inventory records
- Refunds, discounts and marketplace fees
- VAT records and cross-border transaction detail where relevant
Relevant Accounting Services
Accounting support for this sector
Frequently Asked Questions
Accounting questions for this sector
Why do e-commerce bank deposits not match sales?
Payment processors and marketplaces often deduct fees, refunds or reserves before settlement. Bookkeeping should reconcile gross sales and these deductions to the net bank deposit.
Does an Irish online store always have the same VAT treatment?
No. VAT can depend on what is sold, customer location, transaction type and applicable schemes. Cross-border activity should be reviewed using the specific facts.
Can accounting reports show e-commerce margins?
Yes. When product costs, platform fees, fulfilment and other direct costs are recorded consistently, reporting can provide a clearer view of gross margin and channel profitability.
Discuss your accounting requirements
Speak with an ACCA-qualified accountant about your business and the support you need.