Create an Inventory Bank Account to Manage Cash Flow
Are you having cash flow issues? Do you come up short of cash when you reorder inventory? It’s human nature to look at our bank balance and make a judgement about our financial health. When you use a single checking account for all your business expenses, the funds you are counting on to replenish your inventory are mingled with all […]
ASD Market Week in Vegas!
Bookskeep invites you to join us as we participate with other business owners who are succeeding in the e-commerce world. Our own Cyndi Thomason will be speaking about Profit First for e-commerce businesses as part of the Internet Merchants Association (IMA) Classes on Monday March 12 at 2pm. Cyndi will also participate in the A2X […]
Inventory and COGS – What counts?
When you are trying to determine your product costs, it is often confusing about what to include and where it goes in your financial records. Let’s break this down.
InventoryLab: An Inventory Solution
Are you looking for ways to save time and money in processing and analyzing your inventory? At bookskeep, many of our clients are utilizing a third-party listing service called InventoryLab. This online software allows you to scan the item into the software, print and attach the individual label, and sort the item into the correct […]
Freight and Shipping: COGS or Expense?
When you are calculating the cost of your products, how do you handle the freight? Is it included in your cost of goods sold calculation? Or do you pay it from an expense account designated for freight or shipping?
Items in Transit – Are They Considered Inventory?
As with many accounting questions the answer is, “that depends…” Here’s the scoop.