How Ecommerce Sellers Can Prepare for Year-end Without the Stress!
Here we are. It’s December already. Q4. That means holiday cheer, peppermint lattes, last-minute shopping, and yes, the dreaded year-end prep time! But does it have to be so stressful? What if you could prepare for year-end and tax time in a more organized fashion and reduce the stress that comes with this time of [...]
New to Ecommerce? Get Started on the Right Path Now and Avoid Headaches Later!
The ecommerce business model continues to soar with an almost constant influx of new sellers on Amazon and other online platforms. We see it daily here at bookskeep, both with existing clients and those seeking our help in getting their fledgling businesses started on the right path from the beginning. One of the first pieces [...]
Profit First and Parkinson’s Law—The Way to Conquer the Q4 Season
To ensure accurate and up-to-date financials, commit to regularly monitoring your numbers and ensuring proper allocation of funds and expenses. Implementing effective systems can streamline this task, requiring minimal time investment. However, if you approach it haphazardly each month, you risk relinquishing control over your time and money to Parkinson’s Law. You’ve heard me talk […]
How Cash on Hand Affects Your Financials
As all good business owners know, the key to accurate financials is accurate data. What goes into those numbers determines what your financial reports are going to tell you. You want to ensure that you’re getting an accurate picture of your business’ current health. One thing I talk about quite often is cash on hand. […]
Understanding The Cash Flow Waterfall in Your Ecommerce Business
“Where does my cash go?” It’s a typical question I hear many times. Along with this one—“My P&L shows I made $400,000, so why don’t I have that much in my bank account?” My favorite graph to illustrate the solution to this problem is the Cash Flow Waterfall. In the example below, we have used [...]
What is my Balance Sheet Trying to Tell Me?
What is My Balance Sheet Trying to Tell Me? Your financial statements are like the road maps of your business. They tell you where you’ve been, where you are and where you’re headed. Whether it’s the P&L, Cash Flow Statement, or Balance Sheet, every report you run is speaking to you, telling you something important [...]
2 Key Aspects of Financial Statements and What They Tell You
From the 1st to the 15th of each month, our team is scrambling to ensure we get financials out to our clients because we know the sooner we get the data in their hands, the sooner they have data for solid decision-making. I wonder though, how quickly do our clients open the reports once they receive […]
Your Financial Statements Wear Many Hats
“Know your numbers” is a common phrase when we advise our clients. No one has ever asked me which numbers and why? But I think these are good questions, so I’m going to give you a rundown on the important numbers. Let’s start by getting clear about the purposes your financial statements serve. Just like […]
Your Money at Amazon—Do You Know Where it is?
Are you receiving all the money owed to you by Amazon? How can you ensure that you are? In last week’s blog, we learned from Yoni Mazor of GETIDA about collecting FBA Reimbursements.
