Key takeaways Sales tax nexus is the connection between your business and a state that obligates you to collect and remit that state’s sales

Key takeaways QuickBooks Online and Xero are both strong ecommerce ledgers; for most sellers, the choice comes down to three things: where you sell,

Key takeaways An accrued liability is a cost you’ve already incurred but haven’t been billed or paid for yet, and it sits in current

Key takeaways Cash accounting records revenue and expenses when money moves; accrual records revenue when you earn it and costs when you incur them.

Key takeaways An inventory costing method is the rule that assigns cost to the units you sold (COGS) versus the units still on hand

Key takeaways The journal entry to record cost of goods sold is a debit to Cost of Goods Sold and a credit to Inventory

Key takeaways Amazon pays you a net deposit every two weeks (or weekly), already reduced by fees, refunds, advertising, and a held reserve, so

You started a store to sell products, not to keep books. But the numbers decide whether the business works, and ecommerce accounting is how