Blog

Stay up-to-date with the latest stories on accounting trends, news and pro insights.

eCommerce, eCommerce Accounting, Omni-Channel, Retailers
Nov 12, 2019

5 E-commerce Terms Every Business Owner Should Know

Barring the rare exception, almost every business in the retail space is going to have an e-commerce presence. In fact, many of today’s most admired brands grew their initial customer base selling exclusively via a direct-to-consumer model online. A business needs to provide consumers with a frictionless digital experience if it hopes to prompt them […]
Inventory, Inventory Management, Omni-Channel
Oct 31, 2019

Why Inventory Management Matters More Than Ever

Inventory is the lifeblood of any products-based business. It’s the top capital expense, the vehicle for profits, and the very reason customers interact with a company in the first place. No inventory, no business. It’s just that simple. Yet despite the vital impact of inventory, far too many organizations rely on bare bones inventory management […]
Accounting, Accounting Software, Business Software
Oct 16, 2019

The Top 3 Reasons Why Small Business Owners Need Accounting Software

The amount of software solutions available to small business owners is enough to make anyone’s head spin. From all-encompassing services that purport to do a little of everything to niche options that perform the most specific of functions, there’s not a segment of the spectrum that isn’t covered. CRM, ERP, word processing, graphic design, marketing, […]
Accounting Software, Inventory Management, Omni-Channel
Sep 30, 2019

The Importance of Proactive Inventory Planning

The most basic function of inventory management is being able to accurately track goods on hand. In a multi-channel retailing environment, that task alone can be daunting. Understanding where an item is and how much of it in stock can be the difference between a satisfied customer and an upset one, proactive inventory planning also […]
Projected Budget, Retailers
Sep 11, 2019

The Importance of Absolute Variance

Every business that deals with inventory must account for variance between their stock ledger and actual on-hand inventory. According to the National Retail Security Survey, the average retailer loses about 1.38 percent of their inventory to shrink, a loss that totals about $50.6 annually.
Accounting
Aug 27, 2019

What’s Constraining Your Success?

In his 1984 book The Goal, Eliyahu M. Goldratt introduces a management concept called the theory of constraints (TOC). TOC was first developed within the framework of manufacturing but has since been applied to all types of businesses.
Inventory, Inventory Management
Aug 23, 2019

Dead Stock Will Kill Your Business

According to an oft-cited U.S. Bank study, a whopping 82 percent of small businesses that fail have cash flow management issues. If you work in the retail or wholesale space, those cash flow management issues almost always involve problems with inventory.
Inventory
Jul 29, 2019

How to Talk Inventory Management

Have you ever heard two people having a conversation and been unable to follow it, despite the fact that you’re sure they’re speaking the same language as you? That can happen when two musicians discuss jazz, two sommeliers talk wine, or two programmers chat coding.
eCommerce, eCommerce Accounting, Omni-Channel
Jun 28, 2019

Complexity in eCommerce Accounting

Every business envies the farmers market. Why? Because it represents the simplest transmission of goods from manufacturer to end consumer.
Inventory Management
Jun 21, 2019

Calculating Your Inventory Turnover Ratio

Do You Know Your Inventory Turnover Ratio? An important metric for most businesses.