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.
As a Shopify store owner, choosing the right finance and accounting apps (otherwise known as plugins or integrations) can save you a tonne of time and energy. However, with thousands of options available, it can be difficult to determine which Shopify accounting apps are most suitable for your specific store needs. It’s important to focus on plugins that will automate manual processes and provide valuable insights.
Forecasting revenue and profit for e-commerce sales is critical in managing your online business. You may have heard the words revenue and profit used when talking about an income a business makes through sales. Even though words are often used the same way, it's important to distinguish the difference between them.
When looking at your WooCommerce accounting and finances it’s important to have KPIs that act as a litmus for your business’ health. While it may seem intimidating, monitoring key performance indicators (KPIs) is an essential aspect of successfully managing a WooCommerce business. In this article, we will discuss seven important WooCommerce KPIs that have an impact on your finances and accounting:
As an e-commerce store owner, you’re aware of the impact proper e-commerce inventory management has on your finances, COGS, among other areas. Xero is an accessible accounting software that helps business owners to gain control and share insights across their business. Through using accounting software, such as Xero, e-commerce business owners can have a clear picture of inventory and accounts in real-time to guide smart decisions that drive profitability.
Tracking the cost of goods sold (COGS) is vital for your Shopify storefront because of how much it reveals about the underlying financial health and overall profitability of your business. COGS refers to what you pay for the goods you sell—the materials, labor, shipping and other direct costs involved in the production of goods.
By keeping a close eye on COGS in your Shopify store, you’re able to gain insight into your profit margins for each product and can make important decisions around how you price your store items. In this article, we’ll go through how to access the Shopify COGS report and how to maintain best practices in managing the Shopify cost of goods sold.
As an eBay seller based in Australia, reporting your income and expenses to the Australian Tax Office (ATO) is required to stay compliant with your eBay taxes. However, managing your accounting does not have to be a tedious process, especially if you utilize tools that integrate with eBay. Accounting platforms that connect directly to your eBay account can help streamline record keeping and tax reporting obligations.
If you're an e-commerce business owner, you may be familiar with clearing accounts. The clearing account reduces accounting errors and can even prevent fraud in some cases. When you separate funds into a dedicated account, you gain control over your business' transactions. This enables you to make well-informed choices concerning strategies for business growth.