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Every business owner needs to know their financial numbers. Especially retailers.
Jason Richelson, co-founder and CEO of Bookkeep says that not knowing your numbers can be one of the detriments to an online retailer.
Sure it’s great that you’re selling items and making a “gross profit”.
However, what about the taxes, platform fees and other “hidden” costs that might be going into every item you sell.
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Making Accounting Easier
Jason said many accountants are not equipped to handle the volume of transactions that a retailer, or even a restaurant, might have.
Bookkeep’s solution integrates with many e-commerce platforms and posts the retailer’s transactions from their e-commerce platform to their accounting software.
eCommerce platforms like Shopify, Stripe, Woo, Amazon, Shopkeep, Grubhub and others can overwhelm a retailer and their accountant.
On a daily basis, Bookkeep posts the customer transactions.
Compatible accounting solutions include Quickbooks, Zero, NetSuite or other financial software.
This daily and automated posting enables the accountant to not have to manually deal with “hundreds” (or more) of transactions a month, Bookkeep does that for them.
How does it work?
- Bookkeep captures and summarizes all financial data from your sales channels.
- Bookkeep posts journal entries daily to QuickBooks or Xero, automatically.
Solutions that can improve the efficiency of your business and help you be smarter with your financial numbers is a good thing.
Smart Hustle Resources
Ten Best Books for Every Small Business Owner
Scaling Her Accounting Empire. Family Tragedy Propelled Her Forward.
Does Forming an LLC Mean Complicated Accounting? Exploring the Single-Member LLC
The Difference Between Finance and Accounting — and Why it Matters
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