Tag: bookskeep

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 […]

For Ecommerce Customers—Is Easy Better Than Exceptional?

Guest Post by Cyndi Thomason of bookskeep To generate loyalty from customers and employees, Easy customer service is better than Exceptional customer service. This is a major tenant of Roger Dooley, author of the recent book, Friction, and previously, Brainfluence. Dooley was recently a keynote speaker and workshop presenter at this year’s ProfitCon event. He made several important points, but this one really […]

Temptation – Can I Borrow from My Own Accounts for Inventory?

Guest Post by Cyndi Thomason of bookskeep Recently, I was contacted by an ecommerce seller who had read my book and implemented Profit First. They wanted my opinion about using their Sales Tax and/or Profit Account for purchasing inventory in preparation for Q4. They pointed out that it is cheaper to use this money that […]