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Case Study: The risks of mixing your personal and business expenses; How Sterlinx helped a struggling business owner.

Dec 1, 2022 | Case Studies

eCommerce is a booming market in which business owners can invest. For many struggling business owners running solo, their business and individual finances are unavoidably tied. This was the truth for Melissa and her online clothes shop. She took all the financing matters into her hands when her business started. Soon, she noticed how hard it was to keep track of her revenue and expenses. She needed all the help she could get. 

Struggling Business Owner
Case Study: The risks of mixing your personal and business expenses; How Sterlinx helped a struggling business owner. 5

Melissa’s online clothes shop was not easy to manage; she had to list her items, keep up with customer expectations and communication, and take care of deliveries too. Her online shop constantly listed new items, communicated with customers, and replenished clothing stocks. 

Her business was easier to manage when it started. But it soon became challenging for her to track personal and business finances as her business grew.

As a sole eCommerce business owner, her revenue went into her pocket and business finances. Having both finances tied welcomed risks that could jeopardise her online store. She needed to know how to handle eCommerce accounting well. 

Another thing that was risky for her was mixing her business expenses. As a business owner, you should not look at your business assets as your assets.

She merged funds that risked her business. When she did this, she lost her legitimate tax deductions. 

Arif 2022 11 07T233747.617 Case Study: The Risks Of Mixing Your Personal And Business Expenses; How Sterlinx Helped A Struggling Business Owner.
Case Study: The risks of mixing your personal and business expenses; How Sterlinx helped a struggling business owner. 6

She could not get qualified data to see how much her business was growing. She could not calculate her taxes well, all because her business and personal finances were tied. She needed experts in eCommerce accounting. 

She began looking for UK eCommerce accountants. She knew that continuing to handle her business and individual financing at the same time would offer more risks than rewards. 

Accountants for eCommerce were not hard to find. The question was if there were services that would look at her business as an important one. She could not keep mixing her expenses, or she would be in trouble with HMRC (HM Revenues & Customs). 

Thankfully, a friend brought Sterlinx Global and our services to her attention. Not being able to claim her tax deductions due to commingling funds was proving to be detrimental to her as a solo business owner. 

We at Sterlinx were welcome to help Melissa out of her sticky situation. We planned to help her with eCommerce accounting. Our first priority was to help her understand that her business and personal finances should be separate. 

We helped her with eCommerce accounting. We at Sterlinx offer accessible Accounting Services for eCommerce businesses. We started with fixing any miscalculations with her business’ taxation through the help of our team of accountants for eCommerce.

Arif 2022 11 07T234452.729 Case Study: The Risks Of Mixing Your Personal And Business Expenses; How Sterlinx Helped A Struggling Business Owner.
Case Study: The risks of mixing your personal and business expenses; How Sterlinx helped a struggling business owner. 7

We also handled any corrections to her taxes, adhering to the HMRC and House Companies’ guidelines. 

We gave her a dedicated account manager as a part of our services. We started managing all her business financials through full bookkeeping, VAT registrations, calculations, and filing. The same went for managing her eCommerce VAT. We also put her at ease by reminding her of her tax deadlines. 

Melissa was satisfied and taken out of her struggling position in the business world. Her eCommerce clothes shop still stands to this day, more successful than ever. 

If you need help with any eCommerce accounting concerns or if you are in the same position as Melissa was, we are here to help. We at Sterlinx believe in treating every case as unique to produce personalised solutions. 

Allow our team of qualified accountants for eCommerce to help you with your eCommerce accounting struggles and more. We handle business concerns for eCommerce Sellers, Retail Stores, and many more.

Arif 2022 11 07T234551.577 Case Study: The Risks Of Mixing Your Personal And Business Expenses; How Sterlinx Helped A Struggling Business Owner.
Case Study: The risks of mixing your personal and business expenses; How Sterlinx helped a struggling business owner. 8

Unique accounting problems require unique and better solutions, and we are in charge.

Your needs will always have solutions. Our accountant team is more than qualified to handle any of your business concerns after thoroughly studying your needs. Let us help your business become the best version of itself. Contact us, Sterlinx Global now. 

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