One of the most important strategies a retailer needs to develop is how they are going to price their products. In order to make sure you’re accurately marking up your products, it’s important for you to know what your inventory costs include.
One of the best ways to protect yourself in the event of an audit is to save receipts & bills that show proof of what you’re spending money on.
A bookkeeping reconciliation, or reconciliation for short, simply means that you are comparing 2 sets of financial records to make sure that they match.
Which reports in Shopify will show you bookkeeping records you actually need?
Bookkeeper vs Tax Preparer (And Why You Need Both of Them) Running a boutique can be super fun, but managing the finances? Not so much. But it’s still something that’s super important to stay on top of! Often times I’ve found that business owners are kind of confused on what the roles are of a …
Bookkeeper vs Tax Preparer (And Why You Need Both of Them) Read More »
3 Types of Expenses in a Budget: Fixed, Variable and Related In order to feel REALLY in control of your money each month, you need to have a PLAN for that money. That’s where the budget comes in! This post is going to detail out the 3 types of expenses in a budget, and how …
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7 Types of Spending Activities in Your Retail Store (and how each should be tracked for tax purposes) Keeping track of all your spending activities in your retail shop is one of the key components of bookkeeping. In order to do so correctly, it’s important that you understanding that there are different types of spending …
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I hear a lot of similar sales tax questions ALL the time. Sales tax can be complicated – ESPECIALLY if you do any selling online.
And let’s be real…it’s 2024. Almost everyone sells something online.
Good old paper money still plays a big role in your business. Managing it properly is key to keeping your finances in check and your stress levels low. Let’s dive into why it’s important and how to master it.
As a retail boutique owner, understanding your break-even point is crucial to ensure having the sales to cover your expenses. The break-even point is where your total revenue equals your total costs, meaning you’ve neither made a profit nor incurred a loss.
