10 Signs Your E-Commerce Financials are Set Up for Success: Part 2
In part 2 of the series, we’re going deeper into the areas where e-commerce bookkeeping gets more complex. We’re talking about places where most sellers, even those with decent systems in place, tend to have gaps. Inventory tracking, sales tax compliance, financial report reviews, and the year-end details that quietly cause problems when they are skipped. Here are more signs your e-commerce financials are set up for success.
Inventory and COGS Fundamentals for Shopify Sellers
Whether you're just starting out as a Shopify seller or watching your store grow, you've probably heard that tracking inventory and cost of goods sold (COGS) in your bookkeeping is essential. But what exactly are inventory and COGS, and why are they so important for your business? In this article, we’ll break down everything you need to know about Inventory and COGS fundamentals for Shopify Sellers.
5 Signs that your bookkeeper does not know Shopify bookkeeping
Do the numbers in your books provide accurate insights into the profitability of your Shopify business? Shopify sellers rely on clean and updated financials for strategic planning and growth in their business. Since e-commerce bookkeeping is different than regular bookkeeping, you will need to work with a bookkeeper who understand how to navigate the intricacies of Shopify bookkeeping. Could your books be a mess from a Shopify to QuickBooks Online integration gone wrong? How can you know if your bookkeeper is correctly recording all the components of your Shopify income? Let’s uncover the top 5 signs that your bookkeeper does not know Shopify bookkeeping.