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Inventory Management Best Practices

Is Debt Your Only Option?

I frequently hear discussion of debt in business, with arguments coming from both sides. While I do agree that debt can have its place in growing your business, it’s important to consider all the facts first. As we are potentially looking at a recession in the future, which could leave you tempted to take out […]

Learn the Love Language of Inventory

As I sit here in the middle of February looking back, it’s obvious that we, of course, spent most of January completing financial statements for our clients. Year-end isn’t much different for us than month-end because we expect to deliver accuracy year-round. However, this time it’s crucial that we have inventory right because of tax […]

Get Yourself Off the Inventory Hamster Wheel

I know I’ve said it before, but I’m going to say it again. I talk to tons of ecommerce entrepreneurs a year and inventory is always one of the top questions. That’s because inventory for ecommerce can be a little trickier than it is for brick-and-mortar stores. So, let’s go over how to avoid getting […]

Fiddle Featured

Fiddle.io – Inventory Management and More!

I recently invited our friend, Taylor Howe at Fiddle.io to share a little about Fiddle, the online platform for managing inventory, sales, sourcing, and manufacturing. Here’s what he had to say about this dynamic program! Why Fiddle?  Physical product brands, at their core, need to be excellent at producing incredible products that their customers love. […]

Inventory

How Well Do You Know Your Inventory Numbers?

Inventory is EVERYTHING! It is what will generate the cash to make your business hum. Keeping up with it may not be sexy or fun like marketing can be, but it is crucial in order to have a successful ecommerce business. As we work on “renovating” the accounting system for clients, we are often asked to explain the difference between the […]

Cost of goods

Inventory Costs—What’s COGS, What’s Not?

Inventory is essential for every ecommerce business, serving as its lifeblood. From market research to product development, sourcing, manufacturing, and warehousing, each step incurs costs that need proper accounting. Understanding these inventory-related expenses is vital for your business’s long-term success. Let’s explore and organize the typical costs to ensure accurate accounting. Freight and Shipping – […]