In this episode of the Fearless Sellers podcast, Joie Roberts interviews Ben Robinson, an entrepreneur and co-founder of Keepmetrics.
They discuss the importance of bookkeeping for Amazon sellers and how it serves as the scoreboard of their business.
Ben shares essential tasks that sellers should do to improve their financial score and ultimately increase their bottom line.
They also touch on the discomfort around talking about money and the role of tax audits. Tune in to gain valuable insights on managing your finances as an Amazon seller.
Timestamps
[00:01:17] The scoreboard of your business.
[00:05:53] Keeping Books Clean for Business Exit.
[00:06:39] Importance of bookkeeping in business.
[00:10:10] Accrual vs. cash basis.
[00:14:09] FIFO method of accounting.
[00:18:39] Treating inventory with respect.
[00:21:02] Understanding financial statements.
[00:24:07] Tax planning complexities.
[00:27:17] Tax and legal considerations.
[00:30:39] Not having a plan.
[00:34:03] Tax audits and preparation.
[00:38:03] Audits and tax deductions.
[00:41:05] Trusting specialists in e-commerce.
 
Ben, the guest speaker in this podcast episode, is the co-founder and CEO of bookkeepers.com.
He has helped thousands of Bookkeeping Professionals to start, grow and transform their practices into true businesses.
Ben used his background as a CPA for small businesses to formulate a blueprint that helps our profession deliver more value to our clients and earn more money.
Ben was an air-traffic controller in the Air Force before graduating from the University of Central Arkansas.
He proudly supports Bookkeeping Professionals around the globe through a partnership with Charity Water.
Ben lives in Atlanta and has three grown children, all who work with him.
Contact Joie on Instagram: @JoieRoberts.official
Interested in learning how to build your own Amazon business from the leaders in the Amazon industry?
Book your free consultation with Joie and team at www.CallAMZ.com