E-COMMERCE ACCOUNTING BASICS
E-commerce Accounting Basics for Beginners was created for any e-commerce business owner who is looking to build a foundation of accounting knowledge and resources.
This course provides over 50 lessons created to help you gain a better overall understanding of accounting for your e-commerce business. From calculating Cost of Goods Sold to keeping adequate records and meeting with your CPA, this course will provide an accounting resource you can rely on for years to come.
✓ Are you tired of an accounting and bookkeeping headache?
✓ Are you sick of the stress at tax time?
✓ Do you wonder, regularly, if you are actually making money?
✓ Do you know how much you hold in unsold inventory?
✓ Do you know how to record your Amazon deposit in a way that captures sales AND fees?
✓ Are you determined to do things right from now on?
If any of these thoughts resonate with you, this course is for you. You will learn the foundational basics you need to understand so you know what is involved in accounting for your e-commerce business.
What you'll learn:
◆ What to Do If You Have an Accounting Mess
◆ Yearly, Monthly, and Quarterly Suggested Accounting Routine
◆ Receipt Management
◆ GoDaddy vs. QuickBooks vs. Xero
◆ Inventory vs. Cost of Goods Sold (COGS)
◆ Ending Inventory from Seller Central
◆ Why and How to Embed a "Buy Cost" in Your SKU
◆ How Do QuickBooks and InventoryLab Relate to Each Other
◆ Damaged or Donated Inventory
◆ Recording Sales - Amazon, eBay, Other Sales Platforms, Merch by Amazon
◆ Questions to Ask a Potential CPA
◆ What to Gather for Your CPA for Year-End Tax Preparation
◆ Amazon 1099-K Explained
◆ Collecting Sales Tax
◆ Entity Structure
◆ What is a Balance Sheet and Why Does it Matter?
◆ Prep Center Fees
◆ Debt - Principle and Interest - How to Create an Amortization Schedule
◆ Tools We Like - Hubdoc, Dropbox, Evernote, Transaction Pro, CSV to QBO, and more
BONUS Guides & Templates included:
★ Amazon 1099-K Explained
★ Year End Checklist
★ Questions for Potential CPA
★ Suggested Accounting Routine
★ 2018 Revenue & Expense Tracker
★ Basic Inventory Tracker
★ Amazon Sales & Fees Template
Anna Hill is the founder of the FREE Facebook group, Accounting We Will Go, which currently has over 9,000 members. She has over 20 years experience as a CPA and is passionate about using her knowledge to help e-commerce business owners get their books in order.
Allison Caddy is a QuickBooks Online Certified ProAdvisor and organizer extraordinaire. She enjoys helping online sellers create an accounting system to streamline their bookkeeping process and experience the relief of knowing their numbers on a regular basis.
StartInventory vs. Cost of Goods Sold (COGS)
StartHow Does the IRS Define COGS?
StartVarious Methods and Tools for Tracking Inventory
StartEnding Inventory from Seller Central
StartWhy and How to Embed a "Buy Cost" in Your SKU
StartHow Do QuickBooks and InventoryLab Relate to Each Other?
StartHow to Import Historical Inventory Data into InventoryLab
StartDamaged or Donated Inventory