I think it’s always good to spend a little time now and then reflecting on your business; keeping in tune with the heartbeat of your operations. Are you managing things well? Understanding your numbers and producing financials that are providing you with an accurate picture of your business’s current health?
“My Profit & Loss report indicates profit, but where’s my money? This common question from new clients stems from a misconception held by many. While profits might seem like cash in the bank, it’s not entirely accurate. Let’s delve into this issue and explore why this misconception exists. Your Profit and Loss Statement (P&L) reveals […]
In a foreign country where you don’t speak the local language, simple tasks like ordering coffee or asking for directions become challenging. To ease the process and ensure effective communication, you would need a bilingual translator who can bridge the language gap between you and the locals.
This past week I had the opportunity to visit with 30 hard-working ecommerce sellers at an Amazon Seller Retreat. I had a blast reviewing their accounting books and giving them suggestions. One question that came up several times was “Do I need Inventory Lab and Quickbooks or Xero?” It’s an easy answer – Yes! Let’s […]
We’re counting down on this year’s calendar, so it’s time to get your accounting records in order. The “tax time” clock starts ticking on January 1 with a couple of deadlines hitting on January 31. Here’s what you can be doing now to prepare your records so you don’t feel quite so rushed after the […]
As the year comes to a close, in addition to the busy selling season, it’s time to ensure you are ready for January and the IRS deadlines for 1099’s. The IRS requires 1099s to be issued to vendors and filed with the IRS by January 31st. There is good news, however, if you have paid […]
It can be overwhelming when it comes to collecting and remitting sales tax! TaxJar makes sales tax filing easier for online sellers and merchants across the world. At ASD Market Week, I enjoyed meeting and hearing Jennifer Dunn speak about the basics of sales tax and what TaxJar can do to help your e-commerce business.
Tyler Henderson spoke with Cyndi Thomason of bookskeep.com. Cyndi’s not your typical bookkeeper or accountant or tax preparer; she’s a certified Profit First professional with a focus on helping online sellers shift the paradigm so that they can focus on making money and staying profitable rather than just keeping the books clean and up to […]
At bookskeep, we are looking towards year-end activities, and ahead to the busy month of January. One of the many services we provide for our clients is 1099 preparation. The IRS requires 1099s to be issued to vendors and filed with the IRS by January 31st. There is good news however if you have paid your vendor […]
The days are getting shorter and cooler. You can smell the pumpkin spice lattes everywhere. It must be fall, y’all! At bookskeep, October through December is Tax Planning Season. We believe in being proactive, and we encourage our clients to start early and put in a little work ahead of tax season so they can […]
