Bean Ninjas

Keep eCommerce finances accurate and tax compliant with regular bookkeeping, reporting, and expert support for informed business decisions.

Keep eCommerce finances on track with accurate reporting, compliance support, profitability insights, and financial operations oversight.

Plan for tax liabilities, receive strategic guidance, and keep required tax registrations and filings on track.

Gain financial insight and strategic guidance to manage cash, reduce uncertainty, and make informed decisions as your eCommerce business grows.

Set up a tailored eCommerce accounting system to save time, reduce financial risks, and gain clarity and control over business finances.

Find and address Xero bookkeeping issues to improve financial accuracy, tax compliance, and efficiency.

Build financial knowledge, apply learning to your eCommerce business, and make more informed business decisions.

Calculate profit margins to gain a clearer understanding of eCommerce business financial performance.

Assess your eCommerce business’s readiness to scale.

eCommerce bookkeeping services

Bean Ninjas provides bookkeeping and financial reporting for eCommerce businesses, keeping financial records accurate, up to date, and tax compliant. The service includes monthly bookkeeping, weekly transaction categorization and balancing in Xero using an eCommerce framework, detailed financial reports, payroll and accounts payable support, and preparation of GST, VAT, and US sales tax summaries where applicable. Clients receive dedicated support from eCommerce bookkeeping experts. Businesses using other accounting software can have their financials migrated to Xero, with ongoing training and support available.

Category: Bookkeeping Services

• Keep Books Current And Tax Compliant
  Up-to-date, tax-compliant records help eCommerce businesses rely on their financial information and spend less time worrying about bookkeeping.
• Make Decisions Using Accurate Financial Reports
  Regular detailed reporting gives business owners current financial information for decision-making and helps make tax time easier.
• Organize Transactions With An eCommerce Framework
  Weekly transaction categorization and book balancing in Xero helps maintain organized records using a framework designed for eCommerce.
• Prepare Quarterly Tax Summaries
  Quarterly tax summaries cover applicable GST, VAT, and US sales tax, helping businesses keep tax reporting within their bookkeeping workflow.
• Get Expert Bookkeeping Support
  Clients can access dedicated assistance from a team experienced in eCommerce accounting and bookkeeping.
• Support Bookkeeping Across Sales Platforms
  The service is tailored to eCommerce businesses using major online selling platforms, including businesses selling through multiple channels.
• Process Payroll And Track Employee Time
  Payroll support covers pay runs, payslips, timesheets, paid time off, and related payroll tax and reporting.
• Move Financials To Xero
  Businesses using QuickBooks, FreshBooks, Wave, or MYOB can have their financials migrated to Xero, with ongoing training and support available.
• Manage Accounts Payable
  Accounts payable assistance is included among the bookkeeping services available to eCommerce businesses.

eCommerce accounting services

Bean Ninjas provides eCommerce accounting and financial controller services to help keep business finances on track. Services cover accrual accounting and month-end and year-end close, including inventory reporting, cost of goods sold, and accounts payable and receivable. The team supports local, state, and country-specific financial, regulatory, and tax compliance; maintains accounting quality and timely, accurate financial reporting; analyzes product profitability; provides anonymous eCommerce benchmarking; and oversees financial operations and processes.

Category: Accounting Services

• Manage Accounting Close
  Support month-end and year-end close with accounting processes that cover inventory reporting, cost of goods sold, and accounts payable and receivable.
• Improve Financial Accuracy
  Quality control helps keep accrual accounting properly configured and the chart of accounts up to date, supporting timely and accurate financial reporting.
• Meet Compliance Requirements
  Receive support managing financial, regulatory, and tax requirements that apply across local, state, and country jurisdictions.
• Oversee Financial Operations
  Coordinate financial teams and processes across accrual and inventory reporting, cost of sales analysis, financial controls, and process management.
• Compare Business Performance
  Use anonymous data from eCommerce businesses to compare performance and assess whether the business is operating at peak performance.
• Identify Product Profitability
  Understand which product SKUs are most and least profitable through analysis of product-level financial performance.

eCommerce Tax Services

Bean Ninjas provides tax planning, tax advisory, and tax filing services for eCommerce businesses in Australia and the United States. Services include planning sessions on future tax liabilities and cash flow, advice on business structuring and government grants, filing corporate, trust, partnership, and personal tax returns, and keeping sales tax registrations up to date with filings made on time. The service also supports accurate revenue recognition by recording inventory, goods ordered but not received, and landed inventory costs.

• File Required Tax Returns
  Bean Ninjas handles corporate, trust, partnership, and personal tax returns. For Australian clients, services include GST and export sales tax lodgements and timely BAS and IAS lodgements.
• Manage Sales Tax Obligations
  Supports current sales tax registrations and timely filings. U.S. services include state registrations where the business has nexus and on-time sales tax reports.
• Plan For Future Tax Liabilities
  Discuss upcoming tax liabilities and cash flow considerations in planning sessions.
• Recognize Revenue And Costs Accurately
  Monthly inventory and landed cost records support accurate gross margin analysis and help align tax with when profit is earned.
• Get Strategic Tax Guidance
  Access advice on business structure, tax planning, government grants, and selling a business.
• Receive Accurate Financial Reports
  Get accurate financial reports monthly, quarterly, and annually to support the accounting and tax process.

eCommerce virtual CFO services

Bean Ninjas provides virtual CFO advisory for eCommerce businesses, offering strategic financial analysis, planning, cash flow forecasting, and oversight of bookkeeping, accounting, and tax workflows. The service includes guidance on growth metrics, inventory and salary planning, funding, risk, mergers and acquisitions, and preparing financials for a business sale. Clients can receive a dashboard summarizing progress toward goals and KPIs, forecasts, and financial recommendations.

• Plan Growth With Strategic Financial Advice
  Use financial analysis and planning to consider inventory, salary limits, cash deployment, and potential mergers and acquisitions as the business grows.
• Forecast Cash And Manage Working Capital
  Use cash flow forecasts to understand expected financial needs, plan for the future, and manage working capital.
• Track Metrics That Drive Growth
  Focus on the financial measures Bean Ninjas identifies as relevant to growth, including profitability, marketing returns, contribution margin, and EBITDA.
• Oversee Financial Workflows
  Receive support with bookkeeping, accounting, and tax workflows as part of the virtual CFO service.
• Get Guidance On Financial Decisions
  Use financial coaching and advisory sessions to discuss business growth, cash deployment, risk, and prior debt.
• Prepare Finances To Pursue Funding
  Organize financial information to support efforts to obtain funding for inventory, hiring, advertising, or other business needs.
• Prepare Financials For A Business Sale
  Get finances in order and presented for a sale as part of preparing the business for a potential exit.
• Review Progress And Recommendations
  Use a consolidated view of goals, KPIs, cash flow forecasts, and recommendations to review business progress and financial priorities.
• Build A Trusted Bookkeeping System
  Develop a bookkeeping system intended to scale with the business and produce reliable financial numbers.
• Connect Growth Strategy To A Budget
  Translate the brand’s growth strategy into an annual budget to support financial planning.

eCommerce accounting setup

Bean Ninjas sets up and implements accounting systems for eCommerce businesses using Xero, QuickBooks, and A2X. The service includes an assessment of current systems, a customized implementation plan, bookkeeping and chart of accounts setup, connections to bank accounts and payment feeds, and account cleanup, including reconciliation of prior-period transactions. Clients receive two one-to-one training sessions and can access ongoing support, advice, and training. Optional payroll setup in Gusto is available for an additional cost.

• Set Up Your Books Correctly
  Bean Ninjas configures the chart of accounts and bookkeeping in the selected accounting system to establish the business’s financial foundation.
• Connect Your Accounting Tools
  The setup connects A2X and links relevant bank accounts and payment feeds, including those from Amazon, Stripe, and Shopify.
• Learn To Use Your Accounting Tools
  Clients receive two individual training sessions to build confidence using their accounting tools and learn the features relevant to their business.
• Assess Your Accounting Setup
  The discovery call and assessment help Bean Ninjas understand your current system, business needs, and financial goals before implementation.
• Follow A Tailored Implementation Plan
  A customized plan guides the implementation according to the needs identified during the discovery call and business analysis.
• Automate Transaction Reconciliation
  Bean Ninjas shows clients how to create automated reconciliation rules as part of setting up their accounting system.
• Configure Tax And Financial Settings
  The accounting setup includes configuring financial settings and applicable sales tax rates for the business.
• Reconcile Prior-Period Transactions
  Bean Ninjas cleans up the account and reconciles transactions from prior periods as part of implementation.
• Get Ongoing Setup Support
  After implementation, clients can access ongoing support, advice, and training from Bean Ninjas.
• Manage Team And Accountant Access
  The setup includes adding and managing users to provide the client’s team or accountant with access.
• Add Your Business Details
  The accounting system can be configured with the business’s contact details and logo.
• Add Gusto Payroll Setup
  Gusto payroll setup is available as an optional extra when required.

Xero Health Check

Bean Ninjas’ Xero Health Check is a review of your Xero file and bookkeeping setup by a Xero expert and accountant. Using a 100+ point checklist, the service checks for issues that may affect accuracy, tax compliance, and efficiency, then provides written findings and recommendations. Standard and Advanced packages are available. The Advanced package includes a deeper review of your Xero history, chart of accounts, management report layout, bank rules, and possible automations and Xero add-ons. The service includes a one-on-one follow-up consultation to discuss the findings.

Category: Bookkeeping Services

• Identify Xero File Issues
  The checklist helps uncover errors and problem areas in the Xero file and bookkeeping setup that could affect accuracy, compliance, or efficiency.
• Get Findings In Writing
  Receive a detailed report of the review findings and recommendations, giving you a record of issues to address in your Xero file.
• Discuss Findings With An Expert
  Talk through the review results and recommendations with a Xero expert, and ask questions about the findings.
• Review Your Chart Of Accounts
  Get expert feedback on your chart of accounts as part of the Advanced package review.
• Improve Report Layout
  Receive feedback on your management report layout, including recommendations for the profit and loss statement.
• Find Automation And Add-On Options
  Get recommendations for process automations and Xero add-ons that may improve your bookkeeping setup.
• Choose A Review Depth
  Select the Standard or Advanced package according to the scope of Xero review and feedback you need.
• Review And Fix Bank Rules
  Have your bank rules reviewed and see a demonstration of fixes as part of the Advanced package.
• Control Review Access
  Authorize access for the review and remove Bean Ninjas from your Xero account when the health check is complete.

eCommerce Academy

Bean Ninjas’ eCommerce Academy provides education and training for eCommerce entrepreneurs and their teams. Its offerings include Xero eCommerce training covering inventory, expense management, financial reporting, and other topics, as well as a DIY Financial Foundations course and free training videos and webinars. The training is designed to help learners understand business finances, apply what they learn to their eCommerce businesses, and make data-driven decisions.

• Build Practical Financial Knowledge
  Learn about business finances through training designed for eCommerce entrepreneurs and their teams.
• Learn To Use Xero
  Develop knowledge of using Xero in an eCommerce business, with course topics including inventory, expense management, and financial reporting.
• Apply Learning To Business Decisions
  Apply training directly to an eCommerce business and use the learning to support better, faster business decisions.
• Learn Finance Fundamentals With Xero
  Build an understanding of business finance fundamentals while learning and implementing Xero through a self-directed course.
• Improve Inventory Management
  Learn about inventory as part of eCommerce financial training, with the stated aim of improving inventory management.
• Manage Business Expenses
  Learn about managing expenses through training focused on using Xero for an eCommerce business.
• Improve Financial Reporting
  Build knowledge of financial reporting as part of learning how to use Xero for an eCommerce business.
• Access Free Training Resources
  Use free videos and webinars covering eCommerce and business finance topics, including bookkeeping, A2X sales synchronisation, inventory management, and sales tax.
• Explore Relevant Xero Integrations
  Learn about Xero apps that integrate with major eCommerce platforms.

True Margin Calculator

The True Margin Calculator is an eCommerce financial resource from Bean Ninjas. It is listed alongside a Profit Margin Calculator in the free Xero Toolkit for eCommerce, which also includes forecasting and financial planning resources.

• Calculate Profit Margins
  Use the calculator to assess profit margins and gain a clearer view of eCommerce business finances.

Scale Readiness Scorecard

A Bean Ninjas resource listed among its eCommerce financial resources and free resources. Its title identifies it as a scorecard for assessing scale readiness; the referenced page provides no further details about its contents.

• Assess Readiness To Scale
  Use the scorecard to assess scale readiness. The referenced page does not specify the assessment criteria or results.