The Cost of Poor Bookkeeping for Tech and E-Commerce Companies
For many tech and e-commerce founders, bookkeeping feels like a solved problem. Payments flow through Stripe or Shopify, expenses are paid on cards, and accounting software pulls everything together. As a result, the importance of retaining receipts, invoices, and proper evidence is often underestimated. In reality, weak bookkeeping records are one of the most common […]
Stock in Transit; dealing with exchange rates
If you import goods, exchange rates can distort your stock value, cost of goods sold (commly abbreviated to COGS), and profit. This usually shows up when you pay suppliers in stages and the exchange rate moves between payments. Let’s walk through a common ecommerce scenario and how to account for it cleanly. The scenario You […]