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!
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 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 […]
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 […]
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 […]
Have you ever noticed how diligent the squirrels are about collecting and burying acorns and other nuts? They are hard workers! Whenever the ground is covered with fallen nuts, you can bet the squirrels will be out there, working like there’s no tomorrow to gather and stash as many as they possibly can. Why? So […]
Working with an experienced bookkeeping firm to keep your financials in order and most importantly, accurate, is a wonderful asset to your business. Not only can they save you time by not having to handle these activities yourself, they can prepare all your financials so when it comes time to meet with your tax accountant, […]
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?
