Figuring out your profit per SKU, how much inventory you can afford to order, and what you are going to be in for at tax time all require good bookkeeping! So does being able to flip the business for the highest profit if selling down the road is part of your plan.
With this book, You can quickly discard BAD ADVICE such as:
- Amazon needs to be set up as a bank account (it doesn't because it isn't a bank!)
- You need expensive software to import Amazon transactions (you don't if you know what report to run)
- You should just do your books on a cash basis (only if you don't care about knowing your true profitability!)
- You don't need to worry about reconciling accounts if the data is imported (hahaha is all I can say to that!)
- Just set up an LLC (or S Corp) in Fill-In-The-Blank State to avoid taxes (good luck with that!)
- Buyers don't care if your books aren't right if you just give them your tax returns (if you don't have books, why would they trust whatever you put on your return?)Figuring out your profit per SKU, how much inventory you can afford to order, and what you are going to be in for at tax time all require good bookkeeping! So does being able to flip the business for the highest profit if selling down the road is part of your plan.
With this book, You can quickly discard BAD ADVICE such as:
- Amazon needs to be set up as a bank account (it doesn't because it isn't a bank!)
- You need expensive software to import Amazon transactions (you don't if you know what report to run)
- You should just do your books on a cash basis (only if you don't care about knowing your true profitability!)
- You don't need to worry about reconciling accounts if the data is imported (hahaha is all I can say to that!)
- Just set up an LLC (or S Corp) in Fill-In-The-Blank State to avoid taxes (good luck with that!)
- Buyers don't care if your books aren't right if you just give them your tax returns (if you don't have books, why would they trust whatever
