#327-E-commerce Accounting Demystified: Expert Advice with Amanda Adams

Wizards of Ecom

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/