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Blue Ocean Professional Corporation
CPA, Chartered Professional Accountants Free Consultation
INDUSTRIES · 11

Accounting for e-commerce & online businesses

Online stores, marketplace sellers and digital businesses: payouts, inventory and sales tax across provinces.

PayoutsMarketplace and payment-processor payouts split into sales, fees and refunds
GST/HSTCharged at the right rate for each province you ship to
InventoryStock across warehouses and fulfilment centres valued correctly
WHAT WE HANDLE

The work that comes with your industry.

Payout reconciliation

Each payout split into gross sales, fees, refunds and reserves.

Sales tax by province

GST/HST charged based on where you ship, with guidance on provincial sales tax where it applies.

Inventory and fulfilment

Stock on hand across warehouses and fulfilment centres, valued at year-end.

Cross-border sales

U.S. customers, currency conversion and duties recorded correctly.

Digital products and subscriptions

Recurring revenue and digital sales taxed and recorded properly.

Incorporation and growth

When to incorporate, and planning as sales grow.

COMMON QUESTIONS

What e-commerce clients ask us

Which sales tax do I charge customers in other provinces?

Generally the GST or HST rate of the province you ship to. Some provinces also have their own PST, with separate registration rules.

My marketplace deposits don't match my sales. Why?

Payouts are net of fees, refunds, ads and reserves. We break each one down so your revenue and expenses are both reported correctly.

Do I need to worry about U.S. sales tax?

Possibly. U.S. states can require registration once your sales into them pass certain thresholds. We'll flag when it's time to look at it.

Ready for an accountant who knows your industry?

Mississauga, ON · St. Petersburg, FL · info@blueocean.tax

Free Consultation 416-828-7462