Newfoundland's Specialist Shopify Accountants: From Set-up to Scale-up
You’ve built a great Shopify store; now you need a financial system to match. KevinCPAs are experts in the unique accounting needs of Shopify merchants based in Newfoundland and Labrador. We help you move from a state of financial confusion to clarity by integrating your store, automating your bookkeeping, and providing the reports you need to understand your true profitability and grow with confidence.
The Top Shopify Accounting Challenges We Solve
Many Shopify owners struggle with the same issues. We provide the solutions.
My Payouts Don't Match My Sales
": We reconcile your Shopify payouts, factoring in fees, refunds, and shipping, so your books are always accurate.
I Don't Know My True Profit
We accurately track your Cost of Goods Sold (COGS) and all overhead to show you your net profit on each sale.
Sales Tax is a Nightmare
We handle all your HST/GST filings and advise on multi-provincial tax obligations.
Our End-to-End Shopify Accounting Services
Shopify & Accounting Software Integration
We set up and manage the seamless integration between your Shopify store and cloud accounting software like Xero or QuickBooks Online using tools like A2X. This automates the most tedious part of your bookkeeping.
Accurate Profit & Loss Reporting
We go beyond the default Shopify reports. We generate detailed P&L statements that clearly show your revenue, COGS, marketing expenses, platform fees, and net profit, giving you a true picture of your store's health.
Inventory Management & COGS Tracking
We help you set up systems to value your inventory and accurately calculate your Cost of Goods Sold, which is essential for understanding your gross margin.
HST/GST Preparation for Shopify Sellers
We ensure you are compliant with CRA requirements, preparing and filing your HST returns accurately and on time, and helping you recover all the HST you pay on your business expenses.
FAQs for Newfoundland Shopify Store Owners
Shopify's native reports are great for sales data but are accrual-based and don't include all your business expenses (like your marketing spend, software subscriptions, or owner's salary). Proper accounting gives you a complete, cash-based view of your entire business's financial health.
We use A2X to automatically post summarized journal entries for each payout. This entry records your gross sales, less all Shopify fees, refunds, and shipping charges, directly into your accounting software, perfectly matching the deposit in your bank account.
For growing stores, we recommend using a dedicated app like Trunk or Stocky that integrates with Shopify. We can then help ensure the value of your inventory is accurately reflected in your accounting software for correct profit reporting.
Yes. If you have a dedicated space in your home used exclusively for your business, you can claim a portion of your rent, mortgage interest, property taxes, utilities, and home insurance. We calculate the correct percentage you can claim.