Tag: bookskeep

InventoryLab Webinar Recap for Ecommerce Sellers

It was such a pleasure joining Jeff Campbell of InventoryLab last week in the webinar discussing how to prepare your tax information. There were several questions from the attendees that I’m sure others have this time of year, so I’m recapping them here. Can we use InventoryLab as an accounting tool for our accounting reporting for our […]

It’s Almost Tax Time: Are You Ready?

As 2020 has come to an end and the flurry of Q4 and the holidays are just happy memories, we now get to turn our attention to everyone’s least favorite topic: taxes. Staying Current Can Ease Tax Time Headaches If you’ve been organized all year, this is where you reap the rewards. If not, you […]

Q4: The Perfect Time to Put Parkinson’s Law to Work for You

You’ve heard me talk before about Parkinson’s Law. It was developed in the 1950’s by Cyril Northcote Parkinson, and can be simply stated that the amount of work required adjusts (usually increases) to the time available for its completion. This is applied to our resource of time. However, the law can be applied to all […]

Cash Flow Forecasting – What Does Your Horizon Look Like?

This time of year, many of our clients are actively engaged in Q4 2020 and contemplating what business may be like in 2021. There are many unknowns this year; everything from pandemic developments to storage limitations and fulfillment and shipping concerns. One thing is certain—this year, Q4 will be different. Are you prepared for all […]

4 Best Practice Tips for Tracking Ecommerce Inventory

Tracking inventory is never easy, and with Amazon changing the rules recently, let’s take a minute to ensure we understand how inventory should be recorded in your books. We’ll start quite simply with the definition of inventory. From an accounting perspective, it is an asset and will show up on your balance sheet, just like […]

Keeping Your Financials Strong During the COVID-19 Crisis

These last few months have been a wild ride for our clients. Some sold more in April than in Q4. Some were laying off employees and pivoting to merchant fulfilled. Most were applying for the SBA loans, both the PPP and the EIDL. The eCommerce business has really been all over the map. I hope […]

How the Business Crisis Trend Affects Your Ecommerce Business

I recently read that Jeff Bezos’ wealth went up $24 billion as a result of the surge in online shopping. While that may be true for Mr. Bezos, it’s a myth that all eCommerce companies are booming now. I’m wondering, how is it going for you? The reality I’m seeing with eCommerce clients is that it’s […]

Do You Have the Time?

Time is a Variable You Can Control I know what it feels like to be working in your business nonstop. Before I started Clockworking my business, there weren’t enough hours in the day. I recall looking out the window of my office, wanting to be in my garden and feeling like I’d never get out […]