Ecommerce bookkeeping
Ecommerce bookkeeping checklist
An ecommerce client sells through several channels, and each one reports the money differently. The monthly request should collect the gross sales by channel, the payout reports, the fees, the refunds, the inventory counts and the sales tax records. Reconcile the payouts to the bank so the revenue and the fees both show up in the books.
Who sends itSent by the ecommerce bookkeeper after the month ends, usually by the 10th. It covers every storefront, marketplace and payment processor the client uses.
0 of 18 ticked
01Sales and payouts
02Inventory and cost
03Fees and vendors
04Tax and banking
What firms get wrong
- Recording the net marketplace payout as revenue and missing the commission and fulfillment fees.
- Matching a payout to the bank without checking the reserve or the refunds held back.
- Using a physical inventory count that does not match the cost method used in the books.
- Assuming the marketplace handles every state's sales tax for every channel.
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Questions about this checklist
What records does an ecommerce business need each month?
The sales report by channel, the payout and processor statements, the refunds and chargebacks, the inventory valuation, the supplier invoices, the sales tax reports and the bank statements. The reports should show gross sales and fees separately.
Should I record the gross sales or the net payout?
Record the gross sales, then record the marketplace commission, fulfillment and payment fees as expenses. Recording only the net payout understates revenue and hides the cost of selling.
How do I reconcile a marketplace payout?
Start with the gross sales on the payout report, subtract the fees, refunds and reserves, and match the net amount to the bank deposit. Any difference is usually a timing item, a reserve or a fee that was not on the report.
Does a marketplace handle sales tax for the seller?
Many marketplaces collect and remit sales tax as a marketplace facilitator, but the seller may still have obligations for its own storefront or for states where it has nexus. Review the marketplace reports and the state rules with the client.
Sources
- IRS: About Form 1099-K
- IRS: Publication 334, Tax Guide for Small Business
- IRS: Instructions for Forms 1099-NEC and 1099-MISC
Checked November 3, 2026. Tax rules, forms and thresholds change; confirm them with the IRS or your tax software before relying on them.
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