Full-stack financial services for Consumer Goods & Retail companies
Practical Financial Advice You Can Count On
Invest your time and efforts on running your business. Leave the accounting to us.
- Trusted
- Experienced
- Professional
Accurate statements every month
Receive a monthly report with the information you need, such as your inventory statement, merchant fees, cost-of-goods-sold, and more. In order to provide a single source of truth, we sync with the applications you already use, such as Shopify, Amazon, Stripe, or Paypal. Our combination of algorithms and experts produces books with unrivaled accuracy.
Personal, expert support
Meet the finance specialist who fully understands your company. Together, you’ll lay the proper financial groundwork, using the most effective instruments and projections. We are your initial financial partner.
One–stop finance shop
Get the complete bookkeeping, tax, and financial assistance your company requires. We’ll file your taxes and 1099s when you use BEST Tax. Do you need assistance with budgets, accounts payable or receivable? In order to assist you in making wise business decisions based on your data, we also provide these and other services.
You’re in good company
AND MANY MORE…
Our Numbers Speaks Volume
Food & Beverage
20K
Businesses rely on BEST TAX SERVICES
Health & Beauty
30K
Businesses rely on BEST TAX SERVICES
Apparel & Accessories
10K
Businesses rely on BEST TAX SERVICES
Sports & Outdoors
10K
Businesses rely on BEST TAX SERVICES
Other Consumer & Retail
30K
Businesses rely on BEST TAX SERVICES
Frequently asked questions
Why is bookkeeping for consumer and retail companies unique?
Online retailers and consumer enterprises frequently have complicated sales channels and confront issues handling physical goods (such as COGS, inventory, supply chain, and delivery) (such as multiple platforms, differing fee and payout structures, and multiple payment processors). They also frequently have a high volume of transactions. All of these factors have an impact on your books, therefore it’s critical to hire a bookkeeper with extensive experience in your sector.
What kinds of consumer and retail customers does Pilot support?
BEST TAX supports retail and consumer consumers of all sizes and shapes in a variety of industries (hard goods, clothes, food and beverage) (direct-to-consumer and multi-channel retailers, manufacturers, wholesalers).
Do you handle inventory?
A source of truth for your inventory, such as an inventory management system (such as TradeGecko / Quickbooks Commerce), or data provided directly by you, BEST TAX SERVICE can update your inventory in your financial statements each month. Any plan can contain this even though it is not included by default. To learn more, kindly get in touch with us.
How does Pilot calculate Cost of Goods Sold?
For a typical Consumer and Retail organization, Cost of Goods Sold (COGS) consists of the following elements:
We use the inventory and fulfillment data you provide to us as the basis for our calculations of product COGS (i.e., the actual cost of the goods sold).
We automatically track your KPIs for merchant fees and shipping costs, and we classify your variable costs in COGS.
We collaborate with you to develop accounts and category rules to integrate all other variable costs you want to track as COGS (such as storage charges).
What system do you recommend for managing inventory?
We employ a variety of inventory management programs, however due to their ease of use and scalability, we suggest TradeGecko/Quickbooks Commerce and Skubana. Learn more about the technological stack we advise for expanding retailers here.
How does BEST TAX SERVICE handle returns/gift cards?
Our automation pulls this information directly from your store, ensuring you have accurate figures for both items month–over–month.
Does BEST TAX SERVICE have the ability to break out Amazon/Shopify fees in the P&L?
Yes, BEST TAX SERVICE can separate our merchant fees of all types in your Profit and Loss statements.
Does BEST TAX SERVICE break out revenue and costs by product and/or channel?
Yes, BEST TAX SERVICE can break out revenue and costs in your P&L by product line and/or channel. Depending on the degree of granularity you’d like to capture, we recommend doing this in the P&L itself for simpler break-outs (e.g., revenue by channel) and via a detailed KPI dashboard for more complex analysis (e.g., monthly profitability by SKU).
Your Core plan includes connections to four financial institutions, but my business uses more than four. Does that mean I’m a Plus customer?
For simple consumer and retail companies that have more than 4 financial institutions, we offer the option of adding additional financial institutions to your Core subscription for a flat fee.
Does BEST TAX SERVICE handle sales tax?
We don’t currently offer sales tax services, but can recommend a number of software and service providers depending on your needs.
Can BEST TAX SERVICE help me manage KPIs that aren’t in the books?
Yes, we offer KPI tracking and dashboards through CFO Services. For Consumer & Retail clients, our CFO Services team typically helps track KPIs such as marketing metrics throughout the customer funnel, LTV/CAC, inventory turns, and profitability across the product portfolio.
Can BEST TAX SERVICE help me raise capital?
Yes, through the Fundraising Strategy & Support package offered by our CFO Services. Our experienced CFOs can assist with strategy, pitch narrative and deck development, financial and market analyses, and more.
