#327-E-commerce Accounting Demystified: Expert Advice with Amanda Adams
In this podcast episode, our guest Amanda Adams, expert accountant and expert in e-commerce accounting, discussed the commonly misunderstood and often overlooked aspects of accounting in the e-commerce industry. She breaks down the key accounting concepts and provides helpful tips for e-commerce business owners to streamline their financial processes. Amanda begins by explaining the importance of separating personal and business expenses, emphasizing that accuracy and organization are crucial for successful e-commerce accounting. She highlights the significance of properly categorizing expenses in order to make tax preparation and financial analysis easier. Amanda sheds light on the aspects of e-commerce accounting that are often misunderstood like legitimate business expenses vs personal. Her expertise and guidance provide valuable insights that can help e-commerce business owners optimize their accounting processes, ensuring financial success and compliance in a rapidly growing online marketplace. In This Episode: [01:25] Bio [04:10] Biggest mistakes sellers make. [06:30] Business and personal expenses. [09:50] Paying taxes. [13:10] Hiring professional. [16:15] Self- filling. [23:25] Planning your tax. Guest Links and References: LinkedIn: https://www.linkedin.com/in/amanda-adams-cpa-a381761a6/ Guest Notes: https://docs.google.com/document/d/1UX8i_sh4Ja4sI6TAREti7SBDpe5JZYOcmxMf_kd5qP0/copy https://docs.google.com/document/d/1wz07HHNwQBlp_VxYQZzkeZipkts3Db-cj1T-S_jajz0/copy Book Reference: The Hiding Place by Corrie Ten Boom Number the Stars by Lois Lowry Love You Forever by Robert Munsch Links and References: Wizards of Amazon: https://www.wizardsofecom.com/ Wizards of Amazon Courses: https://wizardsofamazon.mykajabi.com/a/27566/x6Kwkz6p Wizards of Amazon Meetup: https://www.meetup.com/South-Florida-FBA/ Wizards of Amazon on Facebook: https://www.facebook.com/groups/WizardsofAmazon/ Wizards of Amazon on Instagram: https://www.instagram.com/wizardsofecom/