As of this posting, we are about four weeks in from the time the World Health Organization (WHO) declared the Coronavirus outbreak a world-wide pandemic. Once that announcement was made, our world began changing at supersonic speed. For ecommerce business owners, and many others as well, it didn’t take long to begin to see the […]
The COVID-19 situation has impacted everyone in one way or another. Many of us are considering what to do immediately and then next after that. In other words, what’s the plan? The short answer is get good control of your cash. We’ve created a comprehensive guide as a checklist. You can access it here. Here […]
We are in the midst of tax season, which is always a little stressful, but having Profit First implemented in your business can ease some of that tax-time stress. Profit First is a cash management methodology that sets up any business for success. It teaches ecommerce sellers how stay afloat in troubled waters and come […]
When Kevin, owner of Northwoods Humidors, realized he was also struggling to understand his numbers and what to do with them, he started looking for someone to help. That’s when Kevin found bookskeep, and he’s had a clear understanding of his books ever since!
Resist Temptation: Don’t Borrow from Accounts to Cover Inventory The other day, an ecommerce seller reached out to me with a question about the implementation of the Profit First method they learned from my book. They wanted to know my thoughts on borrowing funds from their Sales Tax or Profit Account to purchase inventory in […]
How many payouts should you be saving to buy your next round of inventory? When is your next payment to your wholesale supplier? That credit card payment is due soon, isn’t it? If you are having trouble finding the answers to these questions, and if you find yourself waking up nightly, wondering whether you […]
John Haggerty, Guest Blogger Sales Tax and More
Creating the Best Chart of Accounts for Your Amazon Business A Chart of Accounts is pertinent for organization of your business, especially when selling on Amazon. The chart of accounts will help you understand your numbers and manage your business more effectively. Financial statements are tricky and some of us spend many hours fussing over […]
As a business owner, the success of our business is what we put a majority of our energy into. We look into a lot of different moving parts when it comes to checking the health of our business, but we tend to focus on the top line sales number. Of course, there is no denying […]
