"Bookkeeping for Shopify radically simplified."
Ferdinand Tiletzek
Founder & CEO
Areum Labs
Company profile
Your skin at its best – Areum Labs stands for intelligent skincare that thinks along with you. The family-run company’s products combine the best of K-beauty (holistic skin balance and plant-based active ingredients) with the precision of G-beauty (clinically proven, dermatologically tested formulations) and are delivered directly to their female customers via Shopify, without intermediaries.
Pain points
Time-consuming & costly reconciliation of Shopify transactions with easybill invoices
Labor-intensive & error-prone posting of Shopify transactions, platform fees & returns against aggregated payouts
Limited visibility into liquidity, financial performance & outstanding receivables
Goals
Fully automated & accurate posting of all Shopify revenues & fees
Significant reduction in day-to-day accounting costs
Inclusion of Shopify balance in liquidity planning
Results
The introduction of platform solutions in e-commerce such as Shopify & similar systems has been a game changer in many respects. However, the associated accounting processes were long overlooked and still pose a major challenge for many merchants today. With the introduction of Frienton, Areum Labs has largely succeeded in eliminating these pain points.
Fully automated matching of Shopify transactions with the corresponding easybill invoices
Transfer of complete accounting datasets - taking into account platform fees, returns & incoming invoices - to the tax advisor
Drastic reduction in the effort required for day-to-day accounting & minimization of coordination needs at the interface with the tax accountant
Full transparency of the current liquidity situation at all times, including balances on Shopify and PayPal
Accurate accounting for Shopify? With Frienton, finally a piece of cake!
Ferdinand Tiletzek
founder & CEO of Areum Labs
