Learn the Love Language of Inventory
As I sit here in the middle of February looking back, it’s obvious that we, of course, spent most of January completing financial statements for our clients. Year-end isn’t much different for us than month-end because we expect to deliver accuracy year-round. However, this time it’s crucial that we have inventory right because of tax […]
What to Review on Your P&L
In our second video blog of this series, we dive into the Profit & Loss Statement, or your P&L. This is a critical report and understanding how to review it and what to pay close attention to will help you keep a pulse on your business. What to Review on Your P&L Let’s dive into […]
Fiddle.io – Inventory Management and More!
I recently invited our friend, Taylor Howe at Fiddle.io to share a little about Fiddle, the online platform for managing inventory, sales, sourcing, and manufacturing. Here’s what he had to say about this dynamic program! Why Fiddle? Physical product brands, at their core, need to be excellent at producing incredible products that their customers love. […]
Inventory Costs—What’s COGS, What’s Not?
Inventory is essential for every ecommerce business, serving as its lifeblood. From market research to product development, sourcing, manufacturing, and warehousing, each step incurs costs that need proper accounting. Understanding these inventory-related expenses is vital for your business’s long-term success. Let’s explore and organize the typical costs to ensure accurate accounting. Freight and Shipping – […]
Teikametrics Webinar: Advanced Accounting Tips to Grow Profits For Your Ecommerce Brand
When the amazing folks at Teikametrics.com invited me to their webinar to discuss “Advanced Accounting Tips to Grow Profits for Your Ecommerce Brand” I was happy to oblige! During the webinar, we offer Amazon and other ecommerce sellers advanced tips on understanding profitability, saving money, calculating COGs and more.
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 […]
Simplify Your COGS Tracking with A2X Software
At bookskeep, we take pride in using the best tools out there to provide the most accurate bookkeeping records for our clients. Some of these tools and systems are the latest and greatest; others are well-established, reliable systems that have been around for a while. While we’re always looking for ways to streamline and be […]
Inventory and COGS – What counts?
When you are trying to determine your product costs, it is often confusing about what to include and where it goes in your financial records. Let’s break this down.
Freight and Shipping: COGS or Expense?
When you are calculating the cost of your products, how do you handle the freight? Is it included in your cost of goods sold calculation? Or do you pay it from an expense account designated for freight or shipping?
