Get Acquired for More Using an eCommerce Bookkeeper

December 06, 2017 00:34:31
Get Acquired for More Using an eCommerce Bookkeeper
The Quiet Light Podcast
Get Acquired for More Using an eCommerce Bookkeeper

Dec 06 2017 | 00:34:31

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Show Notes

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The four pillars that add value to an internet business are: 

  1. Risk
  2. Transfer-ability
  3. Growth Opportunities
  4. Documentation / Financials.

Documentation is completely under an entrepreneur’s control, and is arguably the most important of the four pillars for web based business owners. Having good documentation and clean financials will bring more value to an online business, instill more confidence in website buyers and help you get a better deal structure if and when you decide to sell.

Simply put, Excel is not accounting software and we’ve experienced buyer blow-back from multi-million dollar website listings that only use Excel for their accounting. If you want to have a good transaction for maximum value, with as few headaches as possible you have to have good financial records and documentation.

Getting there can be a challenge though, if accounting is not your forte. Expert bookkeeper Matt Remuzzi from CapForge is an eCommerce expert and manages the books for hundreds of online businesses.

In this podcast, Matt shares some tips to make your web based business bookkeeping easy, have your write-offs maximized without flagging an IRS audit, and have your 1099s from Amazon and other 3rd party platforms match your tax returns. He even shares tips on when to start collecting sales taxes and the right accounting method to bring maximum value if you ever decide to sell your online business.

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