Accounting

Inventory turnover is calculated by dividing the cost of goods sold by the average inventory. This metric helps businesses assess how efficiently they are managing their inventory levels. A higher turnover ratio indicates better efficiency in selling products and managing stock levels.

Boost your profits with Product Profitability Analysis. This guide helps identify top performers, reduce costs & make strategic decisions to increase sales.

This comprehensive guide explores sales tax for businesses, covering rates, registration, nexus, compliance tips, and the impact on consumers and sellers.

Hiring an accountant with expertise in ecommerce can help streamline financial processes, maximize tax deductions, and ensure compliance. Look for professionals familiar with online sales platforms and digital payment systems to optimize your business's financial management.

The art of comparison isn't just an academic exercise; it’s a crucial business strategy, especially for those in the competitive world of Amazon businesses. Imagine you're scaling a steep cliff, the view from each new vantage point shifts and offers fresh insight into your ascent – such is the power of benchmarking in scaling the heights of retail success - a benchmark opens your eyes to what is possible.

Accounting is a profession that, in many ways, has stayed the same for well over a century. However, the advent of eCommerce businesses has brought new complexities to accounting work, and has even led some bookkeepers and accountants to specialize in eCommerce accounting. While you may not be an accountant yourself, you will need to understand the ins and outs of eCommerce accounting to determine if an eCommerce accountant is the right choice for you and your business.

Shopify bookkeeping and accounting can take a toll on your patience. While Shopify is an excellent eCommerce platform, it doesn’t always make it easy to know how much you’re making and, just as importantly, how much you’re spending on things like shipping and fees. This can make it challenging to ascertain the viability of your business and determine how much money you’re actually making when all is said and done.

If you’re trying to upgrade your eCommerce accounting, you’ll need to learn about a Chart of Accounts (COA). While you don’t have to be a CPA to understand the concept and use it to make better decisions for your business, a COA will often serve as the backbone of your accounting processes. Surprisingly, many entrepreneurs are not well-versed in COAs or how they work in the context of an eCommerce store.

As an Amazon Seller, you almost have no choice but to turn to third-party platforms to handle your bookkeeping and accounting needs. Though Amazon does offers a multitude of reports, no single report provides a complete picture of your business finances.