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?
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.
In early October, Cyndi had the pleasure to present at Retail Global Las Vegas. We heard Lee McCabe speak about his position with the Chinese company Alibaba as Vice President of North America. What McCabe had to say about Alibaba and the Chinese involvement in ecommerce was quite exciting.
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 […]
