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Accounting Basics & Book keeping

Accounting Knowledges

  • Understanding Profit and Loss (PnL) Statements
  • What is the difference between Inventory Asset vs COGS?
  • How to Treat Inventory in Cash-Based and Accrual-Based Accounting
  • What impact does COGS (and my COGS %) have on taxes?
  • Chart of Accounts - What is the "Supplies" expense account used for?
  • How do I create invoices in Quickbooks to send to my customers?
  • Can you explain how Sales and Accounts Receivable are recognized when I invoice my customer?
  • Are shipping expenses part of my Inventory/COGS or operating expenses?
  • My Amazon/Shopify Receivables balance looks high. What could be driving that?
  • Understanding Amortization for Startup and Organizational Costs
  • Where can I find a sales report in Shopify?
  • Accrual-based accounting method and its double-entry ledger system
  • Introducing Factor Financing Lenders and Their Services
  • Chart of Accounts and IRS Expense Categories
  • In QBO, how do I set up Products/Services for invoicing my customers?
  • Are warehouse, freight, and fulfillment costs part of my Inventory cost or are they Operating Expenses?
  • Fixed Assets Depreciation: What Method Does Pocket Use to Depreciate Fixed Assets Such As Computers
  • Where can I find a payout report in Shopify?
  • Does Pocket complete monthly reconciliations?
  • How do I provide Accountants access in QBO to Pocket?
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