Ask me anything on accounting: Me and network of certified CPAs will answer

Tejaswi
Shopify Partner
175 0 35

Heya all, at Pipemonk - we are a 5-star rated Shopify partner expertising in accounting. We have built expertise in Ecommerce accounting after working with 1800+ Shopify stores. We also have a growing network of certified public accountants who are eager to help. 

So if you have any questions on accounting principles, concepts, reporting best practices, fees tracking, inventory mangement or anything related, fire away your question here. Me and my team will monitor the questions closely and get the best person to answer it for you - FREE!

Just reply with your question and be assured that I will do everything in my power to help you

Paul_Podstawka
New Member
1 0 0

Hi ,  in the process of setting up.  We are a registered business in Canada. One sales channel we want to pursue is having a tshirt fulfillment company in the U.S. to ship to U.S. customers. What type of registration or permits will we require. Do we have to report sales from (say CustomCat) in the U.S.?   THANKS

 

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Tim69
Shopify Partner
16 0 10

Paul, it looks like you pushed beyond Pipemonk's abilities to answer accounting questions (:

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Tejaswi
Shopify Partner
175 0 35

Hi Paul, Tim, 

The above question is a bit from the legal side of setting up a business - so our team is not able to help straightaway as our expertise lies in accounting numbers and reporting. W.r.t registration and permits, I will personally reach out to couple CPAs requesting help. Will update as soon as I hear back. 

Thanks

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Joe_Halbrook
Tourist
23 0 3

Looking for diection with accounting for a dropshipping ecomm store (on Shopfiy) that sells products that are custom-manufactured with a 2-week lead time + 3 to 5 days shipping via LTL freight.  The manufacturers dropship the products directly to the store's customers.  We don't want to maintain inventory (Items) in QB, but would like to produce invoices and perform AR, AP and usual accounting functions in QB.  Is this possible with an integration from Shopify to an accounting system?  We've purchased QB and in the process of setting this up, but not opposed to trying another solution that works better for the above-described scenario.   Thank you, in advance. 

 

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Tejaswi
Shopify Partner
175 0 35

Hi Joe, Thanks for the question.

Pipemonk integration allows you to keep Shopify as your 'inventory master'. You can get all invoices, AR, AP and usual accounting functions in QucikBooks Online. But I see that you have a specific dropshipping and inventory caluclation setup in Shopify. To understand it better and see how best we can help in guiding you, can you please send us a mail : (support at pipemonk dot com) with your contact number and a preferred time and date to talk? My colleague from Support team would like to try to understand your scenario better to help.

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Monica_Yu
Tourist
4 0 1

Hi There, I have been selling wines on Shopify for 1 month now. Our physical presence is in California. I am having an issue with Shopify calculating the correct sales tax based on destination. As per California BOE law, I must collect State sales tax rate + District sales tax rate. For example my home town's rate is 9% but if I ship to an out of district city, the rate will be different. How do I set that up in Shopify because it is not automatically calcuating this. All major retailers like Amazon, Lululemon etc... are set up to collect this way. 

Any ideas?

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Jeremy_Dredge
New Member
1 0 0

None of these exactly relate to my concern, so I wonder if you could help.  We are based in the UK, therefore within the EU.  As you probably know, it is a requirement when shipping to Europe to charge VAT. How do we setup the taxes, so that VAT is charged when shipping to the European Union but not to countries outside like the US, South Africa or Australia?    Obviously we are probably not the only ones that have this question and I can't get my head around the settings?

As an aside, once in place does Shopify have a way to pass this tax information to the accountant?

Many thanks

Jeremy

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Sebastian_Jan
New Member
2 0 0

Hi there,

I am running a store from the Province of Ontario in Canada. My question should be pretty straight forward. I have suppliers in Quebec, as well as Ontario and British Columbia. I would like to inquire, according to the Canadian Revenue Agency, "a small supplier" does not need to register for HST/GST. Does this mean that I don't charge my customers sales tax? Having a bit of difficulty, as the suppliers told me that I would be charging the specific province sales tax. If the supplier charges me HST/PST, do I write that off at a later date if I don't end up charging the customer HST/PST?

Thanks!

https://turbotax.intuit.ca/tax-resources/business-owner-tax/do-you-have-to-register-your-business-fo...

http://www.cra-arc.gc.ca/E/pub/gm/2-2/2-2-e.html

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Eddie_Cuello
New Member
3 0 0

Same question as Paul for me. Been getting the run around with accounting firms in the US and lawyers want to charge $600 an hour to setup our business in the US!!! Canadian based company that wants to setup a warehouse in the US. 

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