Amazon Accounting Podcast

Hey everyone! Welcome back to this week’s episode of the Amazon Accounting Podcast. If you missed it, please be sure to go back and watch last week’s episode where we talked about the Corona virus and some things that you can do for your business in this time. Additionally, please consider purchasing our amazon course from our website. Whether you are a creative with an online presence or selling inventory through platforms like Amazon, we specialize in working with digital businesses. When you work with us, you can rest assured that we will handle the financial aspects of your business, so that you can continue doing what you do best. All that being said, let’s get into what this week’s episode is about. If this is the year that you are ready to set yourself free financially and get in control of your business and money, I strongly encourage you to make the step and purchase our course.  First off I hope you are all okay and getting through this tough time. The Corona virus has been taking a toll on the world and countless businesses. Last week’s episode talked about how to get help with your business during this time.  [...]

Hello everyone and welcome back to this week’s episode of the Amazon Accounting Podcast. If you have not already, please check out last week’s episode in which we discuss “your money story”. It is super crucial to understanding personal goals and the potential success of your business. Additionally, please consider purchasing our amazon course from our website. Whether you are a creative with an online presence or selling inventory through platforms like Amazon, we specialize in working with digital businesses. When you work with us, you can rest assured that we will handle the financial aspects of your business, so that you can continue doing what you do best. All that being said, let’s get into what this week’s episode is about. If this is the year that you are ready to set yourself free financially and get in control of your business and money, I strongly encourage you to make the step and purchase our course. What’s happening in my life So much has happened since the last podcast. I wanted to catch up and give everyone a little look at what is happening in my life. In my last podcast I talked about how I had planned my 50th [...]

Hello everyone and welcome back to this week’s episode of the Amazon Accounting Podcast. If you have not already, please check out last week’s episode in which we discuss in detail “money mindset”. It is super crucial to understanding personal goals and the potential success of your business. Additionally, please consider purchasing our amazon course from our website. Whether you are a creative with an online presence or selling inventory through platforms like Amazon, we specialize in working with digital businesses. When you work with us, you can rest assured that we will handle the financial aspects of your business, so that you can continue doing what you do best. All that being said, let’s get into what this week’s episode is about. If this is the year that you are ready to set yourself free financially and get in control of your business and money, I strongly encourage you to make the step and purchase our course. Money Story In this week’s episode we discuss the idea of having a money story. The theme of the episode boils down to the following question: What is your money story, where did it come from, why is it a good idea to [...]

Hey guys welcome back to this week’s episode of the Amazon Accounting Podcast. If you missed it, please be sure to go back and watch last week’s episode where we talked about the importance of saying no in your business. Additionally, please consider purchasing our amazon course from our website. Whether you are a creative with an online presence or selling inventory through platforms like Amazon, we specialize in working with digital businesses. When you work with us, you can rest assured that we will handle the financial aspects of your business, so that you can continue doing what you do best. All that being said, let’s get into what this week’s episode is about. If this is the year that you are ready to set yourself free financially and get in control of your business and money, I strongly encourage you to make the step and purchase our course. Money Mindset In this week’s episode we begin with a brief introduction about the importance of money mindset and why you need to become comfortable with discussing finances and money with others. Additionally, we go over the 4 different types of money mindsets and their pros and cons. If you tune [...]

Hello and welcome back to this week’s episode of the Amazon Accounting Podcast. Last week we talked about common thinking errors and their detriment to our mentality and business, so if you have not already done so, please check that episode out here. Additionally, please consider purchasing our amazon course from our website. Whether you are a creative with an online presence or selling inventory through platforms like Amazon, we specialize in working with digital businesses. When you work with us, you can rest assured that we will handle the financial aspects of your business, so that you can continue doing what you do best. All that being said, let’s get into what this week’s episode is about. Just Say No This week’s episode is about saying no to things when working on your business. Even though saying no can be extremely difficult, especially if you are a people pleaser, we are going to be discussing the importance of doing so. We talk about the detriments of being a people pleaser and saying yes too often, as well as tactics you can use to try and say no more often in your business. We answer the common question of “There [...]

Welcome back to the show as we begin episode 3 of our newest season. If you have not yet done so, please be sure to watch last week’s episode here where we talk about how to stay on top of monthly accounting. This week we are going to be going into detail about common thinking errors that come into play when developing a business. Again, if you have not already purchased my course, you can do so here. I highly recommend purchasing it or even considering it if you are an online seller. If you run any sort of online business, this purchase is imperative for your business. Whether you are a creative with an online presence or selling inventory through platforms like Amazon, we specialize in working with digital businesses. When you work with us, you can rest assured that we will handle the financial aspects of your business, so that you can continue doing what you do best. Steps You Can Take To Get Your Books In Order In this episode we will discuss in detail why it is so important to know your numbers and how it helps with adapting your business. Additionally, we discuss 5 steps [...]

Welcome back to our podcast as we dive into episode 2 of our newest season. If you did not catch our last episode, be sure to do that here. Last week we gave a brief overview of what this season may look like, and so we are going to officially begin our content by going over the best practices you can implement in order to stay on top of your monthly accounting. Before diving into the content, I would strongly recommend purchasing my course if you have not done so already. This course is for anyone trying to either step into the world of eCommerce, or anyone who wants to improve their already established business. Practices to Implement to Stay on Top of your Monthly Accounting I would say that some people’s hardest practices to maintain is a monthly accounting routine for their business. In Season 1 we have an episode about monthly accounting. I would like it if everyone in this world had a monthly financial reports, I think that people would be seeing great success in their business if they could do that consistently. Luckily, this week’s episode helps you learn how to do that. In this episode [...]

Welcome back to our podcast as we ramp things back up with Season 2! If you are new, or if you would like a quick refresher, please start with Season 1 of our podcast to get the full idea of our mission. That being said, I would like to preface the very first episode of Season 2 with the link to my course, which you can find here. I strongly recommend that you purchase this course if you are serious about diving into the world of eCommerce. I want to drive home the fact that this podcast and these courses are for anyone who wants to sell on any online platform. If you are selling goods or services via the internet, I would suggest your next steps to be joining our community and signing up for these courses. Remember that you can visit our website to purchase that course or email us and ask us any questions. Also remember that you can join our Facebook group to further connect. What You Can Expect With all that being said, let’s discuss the upcoming content you can expect from Season 2 of our podcast. We are going to be covering a wide [...]

So it’s a wrap! My kickoff season is done. Finished! Whew! I hope you had half the fun I did talking about accounting! Yes I am a nerd but I love it. I love when I get a note from someone saying I answered a question they had but were too afraid to ask. I love when I hear your business moved forward based on my statement about COGS! So please keep the questions coming: questions@amazonaccountingpodcast.com . I would love to help you too! Sign up to our newsletter to find out when season 2 is coming! It will be even more nerd speak!

In this episode we will go through the balance sheet (the heart of every business) and the income statement. We break this down into easy to understand segments so you can gain more knowledge and confidence in your business. We also address the importance of building habits in your ecommerce business. Sponsors Viral Launch – Save $50 with this link (Use coupon code: Momentum) SPECIAL OFFER FOR MY LISTENERS ONLY TWO WEEKS FREE TRIAL!!!! Gaye’s Million Dollar Arbitrage List Solutions4ecommerce Scope from Sellerlabs Tactical Arbitrage – Get an 10 day free trial with code: “Tactical” Freeeup– Save 10% (forever) and get an instant $25.00 voucher for your first hire. GoDaddy Grasshopper Amazon Accounting Podcast: Before we get into the chart of accounts we want to mention our course: AMZACCOUNTING SIMPLIFIED WE CAN HELP YOU CREATE YOUR CUSTOM ACCOUNTING SYSTEM WITH QUICKBOOKS ONLINE AND MASTER YOUR AMAZON FINANCIALS You’re overwhelmed with accounting software options and are afraid you’ll pick one that might limit you down the road. You have no idea how to adjust your Amazon deposits for gross sales, refunds, and fees. You’re confused about the difference between inventory and cost of goods sold not to mention how to track them. You’ve invested so much time reading blog posts, [...]

OUR TIPS TO MAKE IT HAPPEN Take a break – you need reflection, health, quality social interaction, inspiration.Challenge yourselfBe passionateTake risksTrust yourselfReduce fearVisualize goalsTake action !!! Plan your finances

Anyone think this business is easy? Anyone think they have it all figured out? If so, I applaud you. Otherwise your are like the rest of us putting out many different fires each day. Running this part, then this part then another part. Not easy. But can you mitigate some risk by consistency? Yes. Can your daily habits be modified to make month end easier? Yes. Can you become an outlier by putting your head down and doing the work? Yes! Any of these sound familiar? We deal with them in this episode Overcomplicating things – too many accounts in the chart of accounts. Not having a separate business/personal account. Trying to get things perfect resulting in inaction (“analysis paralysis” – too much research and asking others of their opinions and not just doing the books. Done is better than perfect.)   Not budgeting for a CPA to do taxes (why tax planning is important – entity structure, quarterly payments, etc.)   Not having enough for a “rainy day” (good inventory buy, operating expense surprises)   Not understanding that gross profit is more important than revenue   Getting confused about cash vs accrual (why inventory is an asset on the [...]

I used to have a friend who said: “You can’t eat margin!” It is true, margin isn’t everything. But is revenue you guidepost or is net profit what you are seeking? Goals matter. Featured Question:  How often should I work on my books? Other Questions Answered:  How long will it take me? Sponsors Viral Launch – Save $50 with this link (Use coupon code: Momentum) SPECIAL OFFER FOR MY LISTENERS ONLY TWO WEEKS FREE TRIAL!!!! Gaye’s Million Dollar Arbitrage List Solutions4ecommerce Scope from Sellerlabs Tactical Arbitrage – Get an 10 day free trial with code: “Tactical” Freeeup– Save 10% (forever) and get an instant $25.00 voucher for your first hire. GoDaddy Grasshopper Amazon Accounting Podcast: Before we get into the chart of accounts we want to mention our course: AMZACCOUNTING SIMPLIFIED WE CAN HELP YOU CREATE YOUR CUSTOM ACCOUNTING SYSTEM WITH QUICKBOOKS ONLINE AND MASTER YOUR AMAZON FINANCIALS You’re overwhelmed with accounting software options and are afraid you’ll pick one that might limit you down the road. You have no idea how to adjust your Amazon deposits for gross sales, refunds, and fees. You’re confused about the difference between inventory and cost of goods sold not to mention how to track them. You’ve invested so much time reading blog [...]

Is it possible to pick a winner? Think about a horse race and handicapping. Could you do the same thing for picking winners when it comes to ecommerce? I think so. It goes deeper than just working hard though. I go into what I have have seen across many successful sellers. Mentioned: Book: “Great at Work” by Morton Hansen Featured Question:  How should I start to get my accounting mess organized? Other Questions Answered:  What do I need to do on a monthly basis for my accounting routine? Sponsors Viral Launch – Save $50 with this link (Use coupon code: Momentum) SPECIAL OFFER FOR MY LISTENERS ONLY TWO WEEKS FREE TRIAL!!!! Gaye’s Million Dollar Arbitrage List Solutions4ecommerce Scope from Sellerlabs Tactical Arbitrage – Get an 10 day free trial with code: “Tactical” Freeeup– Save 10% (forever) and get an instant $25.00 voucher for your first hire. GoDaddy Grasshopper Amazon Accounting Podcast: Before we get into the chart of accounts we want to mention our course: AMZACCOUNTING SIMPLIFIED WE CAN HELP YOU CREATE YOUR CUSTOM ACCOUNTING SYSTEM WITH QUICKBOOKS ONLINE AND MASTER YOUR AMAZON FINANCIALS You’re overwhelmed with accounting software options and are afraid you’ll pick one that might limit you down the road. You have no [...]

What are the most important issues I should consider when reducing risk in my e-commerce business? Are there any risks? Really? (hint- answer is resounding YES) Mentioned: book: “Lost and Founder” by Rand Fishkin Featured Question:  What do I need to take to my CPA at tax time?

Why is it so important to know your numbers? Have you said : It’s just me and I know I have money in the bank? Have you overdrawn your account? Do you have enough cash to make the required purchases to achieve your desired income this year? That is really it. You need to have a plan and measure yourself against it. That is how you move forward. Mentioned: QBQ, Hubdoc, Dropbox Featured Question:  What documents do I need for my CPA at tax time?  

Complicated subject? Yes. Impossible for you to understand? NO! The challenge that every inventory based business has is recognizing correctly the myriad of moving parts that comprise COGS. Imagine how complicated Amazon’s inventory tracking for themselves. How many millions of transactions are there a day? Yet they somehow work through it and so can you. Let’s start with the basics. Featured Question: What Accounting software do you recommend? Mentioned: Quick Books Online Xero GoDaddy XLS Sponsors Viral Launch – Save $50 with this link (Use coupon code: Momentum) SPECIAL OFFER FOR MY LISTENERS ONLY TWO WEEKS FREE TRIAL!!!! Gaye’s Million Dollar Arbitrage List Solutions4ecommerce Scope from Sellerlabs Tactical Arbitrage – Get an 10 day free trial with code: “Tactical” Freeeup– Save 10% (forever) and get an instant $25.00 voucher for your first hire. GoDaddy Grasshopper Amazon Accounting Podcast: Before we get into the chart of accounts we want to mention our course: AMZACCOUNTING SIMPLIFIED WE CAN HELP YOU CREATE YOUR CUSTOM ACCOUNTING SYSTEM WITH QUICKBOOKS ONLINE AND MASTER YOUR AMAZON FINANCIALS You’re overwhelmed with accounting software options and are afraid you’ll pick one that might limit you down the road. You have no idea how to adjust your Amazon deposits for gross sales, refunds, and fees. You’re confused about [...]

2019 Savings Goal Here is a pretty simple formula: Start with 1 week of revenue as savings Next grow that savings to equal one month Grow to three months Okay now get to six months How realistic is this? You are trying to grow a business, cash is always tight in an inventory based business but…. Something will change outside of your control. You will not make money on every purchase. Your truck carrying your much needed inventory gets delayed to you or into the warehouse. Staff gets sick. Your account gets suspended. etc.. Not trying to be doom or gloom just talking about real life and what happens. So build a safety switch into your business in small manageable steps. Featured Question:  Which of the suggestions given have you found most helpful? Sponsors Viral Launch – Save $50 with this link (Use coupon code: Momentum) SPECIAL OFFER FOR MY LISTENERS ONLY TWO WEEKS FREE TRIAL!!!! Gaye’s Million Dollar Arbitrage List Solutions4ecommerce Scope from Sellerlabs Tactical Arbitrage – Get an 10 day free trial with code: “Tactical” Freeeup– Save 10% (forever) and get an instant $25.00 voucher for your first hire. GoDaddy Grasshopper Amazon Accounting Podcast: Before we get into the chart [...]

Do you have a system? A tried and true method to get your financial house in order? If not, now is the time. Still early in the year and you can get this year right. Start today, start right now. Featured Question: How long will it take me to get my books in order? What’s involved? Products Mentioned: QuickBooks Onlineh Dropbox Hubdoc

Amazon Accounting Podcast: How do you overcome the difficulties in your ecommerce business? Guess what if you haven’t had any, they are coming. They come fast and furious sometimes. But a solid foundation built on solid account practices can get you to the goal. Your goal! Sign up for our FREE weekly newsletter and receive our free Simple Chart of Accounts to get your accounting system started up right. FEATURED QUESTION Do you need a CPA with eCommerce experience? SPONSORS AMZACCOUNTING SIMPLIFIED

Amazon Accounting Podcast: Before we get into the chart of accounts we want to mention our course: AMZACCOUNTING SIMPLIFIED WE CAN HELP YOU CREATE YOUR CUSTOM ACCOUNTING SYSTEM WITH QUICKBOOKS ONLINE AND MASTER YOUR AMAZON FINANCIALS You’re overwhelmed with accounting software options and are afraid you’ll pick one that might limit you down the road. You have no idea how to adjust your Amazon deposits for gross sales, refunds, and fees. You’re confused about the difference between inventory and cost of goods sold not to mention how to track them. You’ve invested so much time reading blog posts, downloading free accounting resources … now, you’re stuck on information overload AND still don’t know where to start! Then consider joining a program to help you build a foundation. One that can evolve with your business. One that can help you get control of your business once and for all. https://amzaccountingsimplified.com/podcast Are you overwhelmed thinking about your business accounting? Do you not know where to start? That’s why we do this podcast. We want to help you the seller. Remember we are sellers too. After working with hundreds of clients we have we think the best simple chart of accounts you need [...]

Amazon Accounting Podcast: We are big podcast fans. We both listen to many every each week (while exercising, working, relaxing) and realized starting a podcast is an excellent way to reach people we couldn’t otherwise reach with our current channels. We know the solutions to the headaches and stress that are associated with accounting for an e-commerce business. Anxiety Procrastinate Hate These words come up regularly in the same sentence as accounting. It doesn’t have to be that way if a person just knows what steps to follow to get an accounting foundation built, and what routine to follow on an ongoing basis so that the seller will know, once and for all, on a regular basis, if their business is making money or not. So many people are flying blind, hoping at tax time that they’ve made profit, that they don’t have too much debt associated with the prior year’s business activities, and that they can pay their taxes without hurting cash flow too badly. Being a part of “hard” conversations with sellers about the poor financial status of their business has had a big personal impact on us and you will hear that in this podcast. We hope [...]