Crucial Metrics for Ecommerce Business Growth
For any ecommerce business, understanding its performance is crucial for growth and sustainability. While Gross Margin remains a fundamental metric, there are several others worth delving into. Let's explore three key KPIs, how to calculate them, what insights they offer, and the benchmarks to aim for. Inventory Days Inventory Days assess how efficiently you convert [...]
Are Your Bank Accounts Ready for Taxes?
Just like last year, prices are still continuing to rise to crazy prices, and yet we still have to somehow save to pay that tax bill coming up, on top of gas and groceries. If you’re not prepared, it can get a little scary. So, are your accounts ready? Profit First Prep Profit First can [...]
See the Future of Your Ecommerce Business
In the beginning of ecommerce, success was all about marketing and advertising to make a sale. However, over the years ecommerce business owners began to focus on operations as they saw colleagues exit with high multiples because of the high level of aggregator buying activity. Top line revenue got moved to the back burner to [...]
An Ecommerce Inventory Love Story
Like every year, January for bookkeepers everywhere was predominantly spent finalizing financial statements for our clients. For us, year-end is akin to any normal month-end; accuracy remains paramount throughout the year. However, this time of year, ensuring precise inventory figures is essential for taxes. Naturally, challenges will always occur. If, by some stroke of luck, [...]
Manage Inventory Like A Pro in 2024
We are getting excited about our upcoming webinar with Chelsea, founder and CEO of SoStocked! We want to remind you to join us tomorrow, January 17th at 11am PST/2pm EST to learn how to tackle inventory this year and stay on top of upcoming Amazon fee changes. Save your spot now! Why We Recommend SoStocked [...]
Navigating Cash Flow with Inventory Intelligence
Cash flow is the lifeblood of any business, essential for daily operations and future growth. In the guest blog Cyndi wrote for Carbon6, she explains how financial statements like the Profit and Loss Statement (P&L), the Balance Sheet, and the Cash Flow Statement can provide insights into your business's financial health. It’s essential to understand [...]
Sales and Profit: The Core Connection
Sales are often considered the backbone of any business, generating cash and supporting profit. However, merely increasing sales may not always lead to higher profits. To build true stability, businesses must ensure that sales support profitability. The sales process involves five core steps: creating a connection with buyers, securing payment agreements, delivering the product, collecting [...]
Navigate Quarter Three Ecommerce Accounting Like a Pro
As an advocate for financial literacy and someone who works specifically with ecommerce businesses, I firmly believe in the power of Profit First to transform the way you run and look at your business. With the Profit First approach, you can ensure your ecommerce business not only thrives but maximizes profitability so you can take [...]
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 […]
