E-Commerce financials to scale your business

You didn't start a business to be bogged down by financials. From inventory management to order fulfillment and beyond, you've got plenty on your plate. We're here to help.

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Focused on growing your online business

Tight working margins, complicated inventory balances, cash flow forecasting – there's a lot to deal with. Our expert team will manage your finances so that you can focus on impressing customers and growing your bottom line.

Detailed fee reporting

Merchant fees, fulfilment expenses, and beyond, the list of items canabalizing your profits is endless. We'll ensure that you've got a detailed account chart outlining all fees and expenses so that nothing slips through the cracks. You work hard to bring money in, we'll work hard to keep it there.

Advanced visibility

A growing business is a busy business, and with transactions processing around the clock, it's important for you to have an idea of where you stand. We'll consolidate the mountain of data into a consumable, easy-to-review report for you and your team to work from.

Compliance at all levels

Selling across province, and eventually across the globe, comes with a hefty set of challenges. We'll ensure that you're CRA compliant each step of the way. Taxation, foreign exchange, and more, we'll make sure nothing stands in the way of growth.

Why E-Commerce teams love ParallelCFO

We focus on financials so that you can focus on building a successful online business.

Detailed statements

You'll come to expect monthly updates on the things that matter most, including your key three financial statements, insights into cost inventory and product profitability, plus more.

Expert partner

Our team will fill the accounting gaps leaving a pain in your side. Get bookkeeping, CFO services, and payroll from a team that knows your business and is focused on its success.

Advanced toolkit

Future-proof your business with the help of a custom-made tech stack. We'll get the systems in place that you need to grow, and ensure that you have industry-leading tools every step of the way.

Frequently Asked Questions

What kind of E-Commerce customers does ParallelCFO support?

ParallelCFO works with E-Commerce customers spanning all industries and sizes, including online-only, multi-channel, and direct-to-consumer.

What type of E-Commerce platforms do your customers use?

We've got customers using most major E-Commerce platforms, including Shopify, Amazon, WooCommerce, and beyond.

What systems do you recommend for online inventory?

Our team works with a variety of inventory management solutions, each offering their own benefits. We'll work with you to find an intuitive, scalable software that fits your needs and we'll ensure it gets implemented correctly.

Do you handle sales tax?

We currently offer sales tax handling for Canadian customers only.

Do you handle inventory?

Yes, we handle inventory. Our go-to softwares are TradeGecko and Dear Systems, but we'll work with you to ensure that you've got the right systems in place from day one.

How does ParallelCFO calculate Cost of Goods Sold?

There are three main ways to calculate Cost of Goods Sold (COGs), depending on your business type.

1. For product COGs, we base our calculations on the inventory information that you share with us.
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2. For Merchant Fees and Shipping COGs, we track your metrics automatically and categorize your variable expenses there.
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3. For other variable costs you wish to track as COGs, we'll work to create accounts and categorization rules to implement them for your business.

How does ParallelCFO handle gift cards & returns?

We've set up an automation that will pull this information directly from your store, ensuring you've got error-free figures monthly.

Can you break out Amazon/Shopify fees in the P&L?

Definitely. We can separate out merchant fees of all types, including Amazon and Shopify, in your Profit and Loss statements.

Does ParallelCFO break down revenue and costs by product/channel?

Absolutely. We can break out your revenue and costs in your Profit and Loss statements by product and/or channel.

Take control of your back office

ParallelCFO takes care of everything your growing E-Commerce business needs to succeed.

Build your financial foundation with ParallelCFO