Barring the rare exception, almost every business in the retail space is going to have an e-commerce presence. In fact, many of today’s most admired brands grew their initial customer…
E-commerce accounting has existed since we realized it was possible to make money selling goods and services on the internet. But e-commerce business wasn’t always for the everyday small business owner or entrepreneur.
According to a 2016 benchmarking report by Compass, a management report solution for online businesses, the checkout abandonment rate in e-commerce sits at 25 percent. Think about it: That’s a quarter of your customers! The report further breaks down the numbers by product.
“We’ve given cloud commerce a complete overhaul and we think both SMBs and their accountants will love it! The new product solves so many issues that online retailers face daily.”
Most of your clients are prepared to deal with the influx of customers buying goods, but far fewer excel at managing returns effectively. Obviously, an angry customer is the worst case scenario, but business owners also have to consider how returns affect inventory and their financials