Aligning sales with profitability is vital for the sustainability and growth of any business, but this process can look a bit different when it comes to ecommerce. An increase in sales doesn’t automatically mean increases in profit, as there are other factors at play in the sales process. Let's talk about the essential elements that [...]
As an ecommerce business owner, maintaining a firm grasp on your financial health is critical. One of the key tools at your disposal is the balance sheet. This document provides a snapshot of your company’s financial position at any given moment. Here’s a detailed look at what you should regularly review on your balance sheet [...]
Do you find yourself wondering how much of your Amazon payout should be set aside for your next inventory purchase? Are you struggling to keep track of upcoming supplier payments and upcoming credit card due dates? If these questions leave you scratching your head, it might be time to implement Profit First to take control [...]
Unlocking the secrets of profitability in your ecommerce business requires a special understanding of your financial statements. One report in particular, your balance sheet, provides 5 driving profitability forces to keep your eye on. So, let's discuss them and how they can impact your profit and your business. The 5 Drivers Picture your financial statements [...]
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 [...]
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 [...]
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 [...]
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, [...]
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 [...]
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 [...]
