Episode 17 :: Tracking Amazon + Shopify Financials to Improve Profitability
Are your online sells profitable?(Video + closed caption available on YouTube)IN THIS EPISODE OF THE GOOD FOOD CFO i DISCUSS GATHERING, RECORDING AND TRACKING ONLINE FINANCIAL DATA SO YOU CAN DETERMINE profitability (HOPEFULLY)
Selling your product online is a great way to reach potential customers nationwide and almost every food and beverage business that I work with does. But, how do you know if your online sales are profitable? Nine out of ten business owners are unclear on how to gather financial details from the online platforms they sell through, and how to record them in Quickbooks. And, if you don’t have the data, you may not have the profitability you think you do.
In this episode of the Good Food CFO Podcast Alexander & I discuss …
5 reasons why recording income based on deposits isn’t the best method
How to properly track your online income
The steps you should be taking each month to ensure you’re gathering + recording all the necessary financial information to evaluate your profitability on Amazon and Shopify
My recommendations for utilizing this new financial data to see the profitability of each channel + make informed decisions.
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