Accountant for online commerce

Selling online in Quebec means processing hundreds, sometimes thousands, of micro-transactions per month on Shopify, Amazon, Etsy, or your own store, with net payouts that never quite match gross sales once platform fees, refunds, and deductions are taken into account. Add to that sales tax, which varies depending on the buyer's province, inventory distributed between your warehouse, a 3PL, and FBA centers, and sales in foreign currencies: e-commerce accounting is a specialty in itself, not simply a variation of traditional bookkeeping.

At Bankeo, we'll introduce you to the ideal accountant for your online store, free of charge: a verified professional within our network who is an expert in your platforms, tools (QuickBooks, Xero, A2X, Dext), and VAT regulations, including those specific to different regions. We can often present you with one within 48 hours, we'll introduce you to as many accountants as needed, and we'll stay by your side. No commitment required.

• Hundreds, even thousands of micro-transactions per month: without automated reconciliation (A2X, Dext, QuickBooks, Xero), bookkeeping quickly becomes unmanageable.
• Sales tax follows the buyer: 9.975% VAT in Quebec, 13-15% HST in harmonized provinces, separate PST in British Columbia, Saskatchewan and Manitoba.
• Margins eaten away by fees: platform commissions (often 8 to 15% on Amazon) and gateway fees taken on each sale.
• The small supplier threshold of €30,000 crossed in a few months: registering for VAT early allows you to recover the CTI and RTI on advertising and expenses.
• Stock and cost of goods sold: valuation, markdowns, returns and stock distributed between your warehouse, a 3PL and FBA centers.
• Sales in foreign currencies (USD, EUR): conversion, exchange gains and losses, exchange fees of payment gateways.
• Extreme seasonality: Black Friday and the Holidays concentrate a large part of the year's sales, with cash flow and restocking to be planned tightly.

• VAT registration as soon as your worldwide taxable sales exceed €30,000 over four consecutive calendar quarters (end of small supplier status).
• Perception according to the province of delivery: HST in harmonized provinces, 5% GST elsewhere and separate registration for PST required by British Columbia, Saskatchewan and Manitoba beyond their distance sales thresholds.
• Monthly, quarterly or annual GST/QST returns (form FPZ-500 in France) depending on volume, with CTI and RTI to be claimed on platform fees and advertising.
• Exports are generally tax-free, but obligations may apply abroad: US sales tax after "economic nexus" (often US$100,000 of sales per state), European VAT via the IOSS window.
• Reconciliation of net payments from gateways (Shopify Payments, Stripe, PayPal, Amazon): gross sales, fees, refunds and withholdings accounted for separately.
• End-of-year inventory required to establish the cost of goods sold (T2125 for sole traders, T2 and CO-17 for incorporated companies).
• Since 2024, digital platforms have been reporting their sellers' income to the IRS: your statements must match, and your digital receipts must be kept for six years.

How do I manage VAT on my sales outside Quebec? The place-of-supply rule applies: you collect tax in the province of delivery, which is HST (13% to 15%) in harmonized provinces, GST (5%) elsewhere, and sometimes a separate PST in British Columbia, Saskatchewan, or Manitoba. Exports are generally tax-exempt. An accountant experienced in e-commerce can configure your taxes directly in Shopify or Amazon.

Can my accountant connect to Shopify or Amazon? Yes. Many accountants in the verified network work daily with Shopify, Amazon, Etsy, and payment gateways like Stripe and PayPal. They connect connectors (A2X, Dext) to QuickBooks or Xero to automatically reconcile net payments, platform fees, refunds, and collected taxes. The result: reliable bookkeeping and predictable VAT returns.

How much does an accountant cost in this sector? According to the Bankeo Barometer , based on 1,248 real-world cases (2024-2026), the median cost for this sector is around $1,300 per year. The cost varies depending on whether you are an incorporated company or a self-employed individual, as well as the volume and complexity of your work. Bankeo matching is free: you pay your accountant directly.

How can I switch accountants for my online store without the stress? It's simpler than you think: your new accountant will take over your QuickBooks or Xero access, your platform reports, and your latest tax returns, then request the transfer of your file to your previous accountant—a common practice among professionals. The best time is after the tax season, but there's no need to wait. Bankeo will introduce you to an accountant who already knows your tools, free of charge, and we'll support you throughout the transition for as long as necessary.

Local or remote accountant for e-commerce? E-commerce is the sector best suited to remote work: your data already resides in the cloud (Shopify, QuickBooks, Xero, A2X), so an accountant elsewhere in Quebec works just as effectively as one right next door. What really matters is their expertise with your platforms and multi-province sales tax. Bankeo connects you based first on specialization, then on proximity—the choice is yours.

Platforms now report my sales to the IRS: what does this change? Since 2024, Amazon, Etsy, and other digital platforms have been reporting their sellers' earnings to the Internal Revenue Service. Canada Your tax returns must therefore match the exact figures reported by the platforms, down to the dollar, otherwise you risk questions from the tax authorities. An e-commerce accountant reconciles your platform reports with your tax returns and retains your digital supporting documents for six years, as required by law.