Accounting for E-commerce Businesses in Latvia

Accountants with deep knowledge of e-commerce in Europe.

We have years of first-hand experience in the e-commerce industry, which is why we understand the unique challenges of running and providing accounting services to e-commerce businesses in Latvia and Europe.

Experience

Solutions

We automate transaction processing, data export and import processes, run separate trading accounts for each of your platforms, help clients register for OSS VAT, and prepare solutions for all the main sales channels, business models, warehouse and account setups.

We have clients who use 3PL warehouses and hold multiple VAT registrations across different EU countries — for example, Amazon FBA sellers with a PAN-EU account setup.

Our clients save over 50% on accounting fees (yes, really).

We have developed solutions for various e-commerce business models: manufacturers of own products, dropshippers, private label operators, print-on-demand businesses, etc.

We work with sales channels that include Shopify, Etsy, Amazon FBA and FBM, Faire, Ankorstore, etc.

No manual processing means the number of transactions does not increase your costs!

We help e-commerce businesses navigate the complex world of VAT in Europe, offering OSS and IOSS registration and filing services.

Our e-commerce pricing is based on automation complexity, not transaction volume, meaning it remains fixed as your number of sales orders increases.

Grow your business with the confidence that rising accounting costs will not eat into your margins.

We can also review your current accounting practices and advise on how they can be improved.

Get your price quote & free accounting audit

We have developed a handy checklist with tips and deadlines for e-commerce businesses that will help you ensure that your setup is compliant and efficient:

• Understand which registrations are due when;

• Avoid common VAT and bookkeeping mistakes made by e-commerce businesses;

• Ensure you have an efficient accounting setup.

Enter your email address to receive the checklist.

Additionally, you can find our thorough checklist for all new companies here.

E-commerce Checklist

Common issues e-commerce companies face in Latvia

E-commerce accounting is very different from conventional accounting, which is why many Latvian accounting firms are not adequately equipped to handle such clients. Some of the issues our clients often faced before transitioning to Skybooks:

Does your current accountant not understand why the deposits that appear in your bank account are not equal to the orders in your Shopify store? This is the most common area with which accountants struggle. We understand that this is the net figure, which includes refunds, card processing fees, platform fees, and hold amounts.

We run separate trading accounts in our software for each of your platforms to ensure that all payments are recognised correctly.

Revenue recognition

Transaction volume

Does your current accountant struggle with thousands of transactions from your Shopify store? Many approaches that work well for more traditional business models are not a good fit for the high-volume nature of e-commerce.

We automate the data export and import process, meaning we can handle almost any number of transactions without increasing costs for our clients!

Our clients advertise across Google, Meta, TikTok, and other platforms. They have different warehouse, logistics, and VAT setups. They use different payment processors (PayPal, Stripe, Klarna, etc.). On a daily basis, we work with sales channels that include Shopify, Etsy, Amazon FBA and FBM, Faire, and Ankorstore.

Each of these areas has its own complexities, for which we have developed solutions, allowing us to offer much more competitive pricing than traditional accounting firms.

Variability

Transitioning to Skybooks

Are you an e-commerce business looking to switch accountants, or an accountant looking to restructure your client portfolio?

We take the headache out of transitioning to a new accounting firm by liaising directly with your current service provider to ensure a smooth handover.

Book a call to find out how we can manage your transition.

For accountants looking to restructure we offer a partnership programme.