Yes, we have been there. When you first start your business, you try to preserve your limited startup capital. Unless you have an angel investor with deep pockets, you do everything on the cheap. You look for someone on Fiverr to maximize your SEO. You hire a goat herder in Timbuktu who moonlights to…
Point of Sales Systems for Online Businesses
Unity, harmony, and teamwork are important. In the movie, Drumline, Devon, a young black drummer from Harlem, learns how important it is when he is given a band scholarship to a southern college in Georgia. The band’s motto was, “One band, one sound.” One of the pivotal lines in the movie is when Devon’s drum…
Undo Send Email For Gmail To The Rescue
At the time of this posting I just might be a “smidge” behind the news feed gods given the fact I woke up this morning to a wall of articles all about this lab turned live feature of having the 5- to 30-second option to undo send on that precious email I toiled for hours…
Why We, at The Bottom Line®, are 100% Xero
Clients often call us up and ask for help with their software. They are having difficulty with Quickbooks, or they can’t get GoDaddy Bookkeeping to compute their expenses properly, or they may want to know how to configure a certain formula in FreshBooks. If the question they ask is an accounting issue, we should be…
Understanding How Much It Is Costing You to Get Paid: Merchant Fees
If you sell widgets, which you buy wholesale for a dollar each and retail for four dollars each, you make three dollars on each widget you sell, right? When you try to balance your accounts at the end of a particular month, you compute the costs of your wholesale widgets. You bought 2000 widgets…
Summer Business Planning: Prepping for the BIG PAYDAY Called 4th Quarter
“Summertime, and the living is easy.” Perhaps, Gershwin is taking it easy, but time is a’ wastin’ if you aren’t starting to prepare for end of the year profits. Retailers estimate that 40% of a typical business’ income is made in the final quarter of the year. Because of that, summer business planning is important….
VAT Tax Updates + Tools for Digital Product Sales
If you sell digital products overseas, the European Union (EU) has passed updates to the VAT tax that will affect you and your accounting. If you are unfamiliar with the VAT, here’s a down and dirty overview. VAT stands for Value Added Tax. In this system of taxation, goods and services are taxed at each step…
Marketplace Fairness Act Bill Gets a New Push in 2015
Just when you thought it was safe to dip your toes into the blue ocean waters of online retail, a menace from the deep is again lurking below the surface. It called the Marketplace Fairness Act (MFA) bill and it has been newly re-introduced for 2015. Marketplace Fairness Act: What It Is and What It…
Buying a Boat (or Other Luxury Item) as a Business Asset
With the summer months upon us, you may be dreaming about a boat or a mountain condo. Your company has performed really well the past year, you are flush with cash assets, and ready to lay out some of those hard-earned profits on a vacation property, yacht, or private airplane. Would the new boat be…
Post Tax Season Do’s and Don’ts for Online Entrepreneurs and Retailers
You have just finished your 2014 taxes. It’s time to sit back, kick up your feet, and relax, right? WRONG! If you haven’t been keeping up with your books for this year, you are already four months behind. You’re not going to wait until January again and try to recreate all your expenses, income, and…