Fully Accountable is an Ecommerce-focused accounting firm that combines the functions of accounting and finance all for less than the cost of an entry level employee. They bring together all of the crucial roles for your store that you want to have, but can’t afford a dedicated employee for: bookkeeper, data analyst, controller and CFO, all into one service. This simplifies complex financial reporting into easily digestible and actionable data, helping you to improve your margins and increase profits.
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It’s their niche expertise in Ecommerce combined with their processes for automating your daily financials and giving you not just reports on what happened, but advice on what to do next.
They also really separate themselves from your average financial reporting because they understand exactly which KPI’s Ecommerce businesses should be looking at. They only service Ecommerce and digital brands which adds another layer of expertise and credibility.
Fully Accountable has helped companies double their profit margins by providing actionable insights from financial data. They also saves countless hours of data entry and report pulling.
The amount of information about your business that can be gleaned from financial data is remarkable. And analyzing data by advertising channels, understanding how each campaign is doing allows you to scale, pause or stop campaigns at the right time, saving you time and money.
Typically the CEO or C-suite will be looking into hiring a trusted accounting firm partner.
Onboarding consists of gathering logins (with view only access) for bank accounts, your Shopify, any accounting tools, and other places where you generate revenue from. The Fully Accountable team will come in and build out everything you need to check KPI’s and will provide a preliminary P&L’s at the end of 30 days. The next 30 day period is spent perfecting your reporting, but everything is usually launched within 30 days.
It usually only takes the merchant an hour or less to compile all of the login details and provide a point of contact for questions. You aren’t required to do anything else to “set it up”. They actually prefer it if you don’t attempt to do anything to help them, as it allows them to make sure everything is set up correctly.
Fully Accountable is perfect for Ecommerce or digital brands doing $1million+ in revenue that perhaps aren’t very strong in managing their own financials. Once you have honed your target, know your audience and have an offer that works, then you should be investing in someone to manage the back office so that you can focus on your core competencies.
On the flip side, businesses that are doing more than $25million+ may find a greater benefit from hiring internally. At this point you’ve got enough transaction volume that there is enough work for a full-time employee. That being said, Fully Accountable can be an excellent resource for these types of companies by providing their financial advising expertise.