How to Find an Accountant for Fashion & Clothing Brands

As a fashion, clothing, or apparel brand, managing your finances is crucial to the success and growth of your business.

When it comes to financial management, fashion brands face a number of unique challenges, such as multiple SKUs and multiple sizes, managing omnichannel sales, seasonal changes, discounting, calculating COGS, and accounting for returns and exchanges (just to name a few!).

Working with a specialized accountant or bookkeeper can help you work through all of this, while helping you really understand your business performance and achieve your goals. In this guide, we’ll walk you through how to find the right accountant for your fashion or clothing brand.

Want to find an accountant or bookkeeper for your fashion/clothing business right now? Check the A2X Ecommerce Accountant Directory!

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The A2X Directory is a global network of expert ecommerce accountants ready to help businesses like yours.

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Do I need an accountant, or bookkeeper, or CPA – and what’s the difference?

It’s ultimately up to you to understand what types of services you need.

Bookkeepers handle daily financial transactions, ensuring your records are accurate and up to date. You can hire a specialized bookkeeper (i.e., someone who has experience working with ecommerce businesses); or, some business owners will opt to do the bookkeeping themselves. Or, you can look for a specialized accountant who also provides bookkeeping services.

Accountants take a broader view, providing financial analysis, tax planning, and strategic advice. A Certified Public Accountant (CPA) usually has specialized knowledge in tax requirements, auditing, and financial management. If you’re planning on selling in international markets, then it’s definitely a good idea to look for an accountant or CPA who has experience with this and can help you remain compliant with sales tax/VAT legislation.

Depending on your business’s complexity and growth stage, you may need the detailed record-keeping of a bookkeeper, the comprehensive services of an accountant, and the tax filing expertise of a CPA.

What’s most important to look for when hiring an accountant or bookkeeper for a fashion business?

With cloud accounting technology, factors like location are less important when it comes to hiring an accountant or bookkeeper for your clothing business.

The most important factors to consider are experience and expertise – especially if your business sells online (e.g., via Shopify or Amazon).

Accounting and bookkeeping for traditional brick-and-mortar businesses is very different from accounting and bookkeeping for an ecommerce business. Ecommerce introduces a number of complications, and it’s important to hire someone who understands what to expect and how to manage complex transactions, sales tax requirements, inventory needs, COGS, etc.

So, any accountant won’t do – it’s important to find someone who specializes in working with ecommerce and/or fashion and clothing brands.

How to find an accountant or bookkeeper who’s the right fit for your business

One of the quickest and easiest ways to find an accountant or bookkeeper who works with fashion and clothing brands is to use the A2X Accountant Directory.

Hiring an accountant or bookkeeper is similar to bringing on an important business partner. Here are some tips to help you hire someone who’s the right fit.

Understand bookkeeping basics

Even if you’re not planning on doing the bookkeeping for your fashion or clothing business yourself, it’s a good idea to get informed about some of the basic steps and tasks so that you can better evaluate if the accountant or bookkeeper you hire has the specialized skill set you’re looking for.

Here are a couple of resources that can help:

• Step-by-step guide to bookkeeping for fashion brands (by Ignite Spot, an outsourced accounting firm that works with fashion brands)
• Checklist: Bookkeeping for fashion brands

Understand your business needs

Think about your business operations, and make a list of what you need help with. Consider:

• Inventory management
• Cost of Goods Sold (COGS)
• Sales tax compliance (especially if you sell in multiple states or countries)
• Cash flow management
• Seasonality
• Financial reporting – what information do you want to know about your business performance?

Look for industry experience and qualifications

Look for accountants/bookkeepers who have experience working with fashion or clothing brands. They will be familiar with the specific financial needs and challenges of the industry, such as seasonal fluctuations, bulk inventory purchases, and returns management.

It’s also a good idea to look for qualifications. For example, are they QuickBooks Certified? Are they A2X Certified? Or, you’re looking for a CPA, do they have that designation listed on their website?

Ask the right questions

Once you have a shortlist of potential accountants, conduct interviews to gauge their suitability. Ask questions such as:

• What experience do you have with fashion or clothing brands?
• How do you handle inventory accounting?
• Can you provide references from similar clients?
• What software and tools do you use for accounting and financial reporting?
• How do you stay updated with changing tax laws and regulations?

Consider technology and tools

In today’s digital age, an accountant who leverages modern accounting software and tools can provide significant advantages. Look for accountants who are proficient in software like QuickBooks Online or Xero, ecommerce accounting tools like A2X, and inventory management solutions like Cin7, Finale, or Unleashed. These tools can streamline your financial processes and provide real-time insights into your business performance.

Assess cost

While cost shouldn’t be the only factor, it’s important to find an accountant whose fees align with your budget. Discuss their fee structure and ensure there are no hidden costs.

Hiring the right accountant is an investment in your business, and can save you money in the long run by optimizing your financial processes and ensuring compliance with tax laws.

Check for ongoing support

Accountants aren’t only valuable at tax time, and they shouldn’t be someone who you only check in with once a year. Your accounting needs will evolve as your business grows, so you’ll need a responsive business partner.

Choose an accountant who can provide ongoing support and adapt to your changing needs. Regular financial check-ups, proactive advice, and scalability are important considerations.

Evaluate compatibility

Your accountant will be a key partner in your business. Ensure they are someone you feel comfortable working with and who understands your vision and goals. Good communication and a proactive approach are essential qualities.

Use the A2X Ecommerce Accountant Directory

The A2X Ecommerce Accountant Directory is a curated list of accountants and bookkeepers who specialize in working with ecommerce businesses, including fashion and clothing brands.

This directory connects you with professionals who understand the unique financial challenges of online retail, such as managing multi-channel sales, handling inventory, and navigating sales tax complexities. Using the A2X Directory, you can easily find experienced accountants who are well-versed in the tools and strategies needed to optimize your ecommerce operations.

To use it, simply visit the directory, browse using filters, or choose the “match me” option to find the perfect financial partner for your fashion business.