How to Do Bookkeeping for Amazon FBA? Bookkeeping Explained for E-commerce Beginners

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Properly managing your financial side of a business and doing monthly bookkeeping is something that every Amazon seller must do from the very early stages.

Keeping track of your sales, expenses and managing cash flow overall will not only give you a good overview of how good or bad your business is doing but also will pay off in the long run once you want to sell your business.

In this video, Nathan Hirsch from EcomBalance tells everything about how to easily manage bookkeeping for Amazon sellers. He shares how monthly processes of bookkeeping should look like by introducing the monthly finance meeting idea that all sellers could apply to their business and points out the most common bad practices in bookkeeping that create a lot of stress for sellers and end up decreasing the business value.
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???? Other related videos:

▶️ Selling Amazon Business From the Perspective of EXITpreneur's Playbook Author: https://youtu.be/fRMhI29-dx8
▶️ Ultimate Guide to Amazon Reimbursements - Increase Your Amazon FBA Business Profits!: https://www.youtube.com/watch?v=vcUXRA_VJH8

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???? Topics covered in the video:

➤ 00:00 Bookkeeping for Amazon sellers
➤ 00:45 Nathan Hirsh & EcomBalance
➤ 01:52 Nathan’s first personal experience
➤ 04:13 How do e-commerce entrepreneurs approach bookkeeping?
➤ 08:47 When is the right time to start bookkeeping for your business?
➤ 09:51 Monthly basis bookkeeping
➤11:59 Real-life bookkeeping examples
➤14:15 What kind of sellers EcomBalance work with?
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???? About NATHAN HIRSH and ECOMBALANCE

Nathan Hirsch is a lifelong entrepreneur and currently the CEO of EcomBalance and Outsource School. Nathan is best known for co-founding FreeUp.net in 2015 with an initial $5,000 investment, scaling it to $12 million in yearly revenue, and having it acquired in 2019. Today, he leads EcomBalance, an online bookkeeping service for eCommerce and digital businesses, and Outsource School, a membership teaching business owners how to hire effectively online. Nathan has appeared on 400+ podcasts, is a social media personality.

EcomBalance is on a mission to help eCommerce businesses selling on Amazon, Shopify, eBay, Etsy, and other marketplaces master their monthly bookkeeping so they can better understand their numbers and make smarter business decisions. EcomBalance specializes in eCommerce but also caters to other online businesses.

???? Mention ORANGEKLIK and get 2 months of bookkeeping: https://oklik.co/ecombalance
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???? Video host - LISETT LEES

Lisett is an Amazon FBA Expert and Strategist who works with different brands helping them to stay on top of the Amazon game. She advises business owners on setting goals and managing the store, helps to create optimised product pages and use Seller Central tools to build the best customer experience for the buyers in order to get more sales for the sellers. Since she started out in 2016 as an Amazon virtual assistant, her mission has been to help businesses run their Amazon stores cost-and time efficiently.

???? Learn more about Lisett and how she helps Amazon FBA businesses: http://lisettlees.com/
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???? About ORANGE KLIK

Orange Klik connects Amazon FBA private label sellers with leading industry experts to help you turn your online business into a massive success. No matter if you are a beginner, still figuring out how to make money online, or an advanced Amazon seller with a strong experience in eCommerce, on this channel you will find up-to-date tips and expert recommendations for sellers of all levels of experience.
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