This week I had a call with a client that was so relieved to be getting help with her books. She was in her 60’s and has been running an amazon store for a while. She wanted to do it right, so she went to her CPA for help. I’m so sorry to say that […]

What do you do when something doesn’t go as planned and you end up with inventory that has to be destroyed or is lost? Perhaps you have returns that are sellable, and you plan to list them on eBay or resend them to Amazon. Or even donate them if they have slight damage but are […]

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 […]

Guest Post by Cyndi Thomason of bookskeep As business owners, we often concentrate on our top line sales number. We use this number as a measuring stick of sorts for how well our business is doing; how successful we are. As a member of several seller Facebook groups, I see it is a point of […]

The transition to Profit First can seem like a big adjustment when you’re paying down debt. Often, clients are so motivated as they start cutting costs that they apply all those savings to reducing debt. They are so excited about the progress that they bypass the profit account and apply all extra monies towards debt […]

Guest Post by Cyndi Thomason of bookskeep How much of your Amazon payout do you need to set aside to purchase your next round of inventory? When will you have to make that next payment to your wholesale supplier, and isn’t your credit card payment coming due? If the answers to these questions don’t just roll off […]

Guest Post by Cyndi Thomason of bookskeep This past week I had the opportunity to visit with 30 hard-working ecommerce sellers at an Amazon Seller Retreat. I had a blast reviewing their accounting books and giving them suggestions. One question that came up several times was “Do I need InventoryLab and Quickbooks or Xero?” It’s […]

Guest Post by Cyndi Thomason of bookskeep 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 […]