The Amaka Blog
Dive into Amaka's product updates, company news, and educational content on how business owners and accounting professionals can leverage accounting automation.
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Multichannel accounting: Managing your books with multiple sales channels
Multichannel has been a buzzword in the retail space for the past few years but taking this approach has unique implications for your accounting processes. At a high level, multichannel stores are those that use multiple channels to sell the same or similar products. Omnichannel stores do the same, however, put unified communication at the forefront of their strategy.
E-commerce automation: 6 key processes you need to automate
E-commerce automation is the key to making your business work for you rather than the other way around. With competition only getting larger by the day, finding ways to stay ahead is a necessity. Automation involves using software that does manual tasks for you in the background. It allows you to save time and spend it on what actually matters.
E-commerce accounting: How to choose the right pricing strategy for your business
A major part of making sure your financial statements come back positive after the quarter ends is making sure your pricing strategy is right for your e-commerce business. Of course, there's no one size fits all for every product or store. Hence, it's important that you take the time to understand your unique business.
E-commerce accounting: Expenses to prepare for and how to track them
One part of accounting that e-commerce business owners tend to leave behind is expense tracking and management. Staying on top of your expenses is integral to your profitability, cash flow management and more. Being consistent with this part of your bookkeeping will help save a bunch of time when tax season comes or when you need to analyse financial data.
E-commerce accounting: What to know about the income (P&L) statement
The income statement, also known as the profit and loss statement or P&L statement, is a key financial statement for e-commerce businesses and their bottom line. In this article, we'll go through what's on the income statement as well as what numbers are specifically relevant to e-commerce.
Amaka deepens footprint in hospitality with launch of Foodbomb’s official integration with Xero
Amaka has partnered with leading wholesale order management platform for food service venues, Foodbomb, to launch their official integration to Xero.
E-commerce accounting: The cash flow statement and why it’s important
The cash flow statement is often seen as the less straightforward financial statement for e-commerce businesses, especially when compared to the balance sheet and the income statement. However, just like its counterparts, understanding the cash flow statement is absolutely essential to keeping your business afloat.
E-commerce accounting: How to read and analyse your balance sheet
The balance sheet is one of the many financial statements that is useful for e-commerce business owners to understand. In this article, we'll go through what's on the balance sheet, how to analyse it and the ratios you'll want to track. Please not, this isn't intended to be financial advice. We recommend reaching out to an accounting professional for further guidance.
Shopify accounting: Recording Shopify Payments, fees and reconciliation
If you're using Shopify Payments as your main payment gateway and you're looking to understand how to manage your accounting and bookkeeping, this article is for you. We'll go through what Shopify Payments is, how to make sure you've set it up correctly, the fees involved and how to properly manage your books when using it.
E-commerce accounting: How to record gift card sales and redemptions
Though gift cards, otherwise known as gift vouchers or gift certificates, are a key cash generator for many e-commerce businesses, not everyone is doing the bookkeeping for gift cards correctly. To ensure you're making the most of the benefits, you'll want to be aware of how to properly account for them.