Cash Flow Planning and the Profit First Method
Quite often I’m asked to help our clients implement the Profit First method for their ecommerce business. As we search further into the assessment, we come to find what our clients often require help with is planning their daily and weekly cash flow.
Resist Temptation: Don’t Borrow from Accounts to Cover Inventory
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 […]
Managing Inventory and Cash Flow with Profit First
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 […]
Client Testimonial: Advance Supply
Having accurate, current data is key to knowing where you are in your operations on a daily basis. Without it, you run the risk of flying off-track, and when that happens, recovery is oftentimes lengthy and painful. We care about what results our clients get. We asked the owner of Advance Supply how our partnership has affected his business.
Know Your Data – Stay Compliant with Sales and Use Tax
John Haggerty, Guest Blogger Sales Tax and More
The IRS Website: A Valuable Tool for Business Owners
Tax season is here again, bringing with it a load of forms and paperwork. Despite the hassle, accessing the necessary IRS forms and instructions is relatively straightforward through their website.
How the Right Chart Of Accounts Can Help Organize Your Amazon Business
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 […]
Gross Profit Margins and Financial Health
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 […]
Track 1099—Making Tax Time Easier for Ecommerce Sellers
The holidays are a wrap, and not only are we facing a new year, we’re entering a new decade! I can hardly believe how quickly time flies. I can’t help but get excited when I think about all the amazing things the future holds for us! Amazon Seller Tax Information Overload! Regardless of what type […]
