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Debits and Credits in Accounting: With Journal Entry Examples

Debits and Credits in Accounting: Guide with Journal Entry Examples

In accounting, debits and credits are the fundamental building blocks for recording financial transactions. They may appear challenging, but understanding debits and credits is critical for keeping correct financial records. This guide will break down what is debit and credit, explain how they apply to different account types, and provide examples to help you comprehend […]

How to Calculate Cost of Goods Sold for Shopify Store

How to Calculate Cost of Goods Sold for Shopify Store

Understanding the financial metrics that predict business profitability is important to succeed as a Shopify business owner. Cost of Goods sold (COGS) is one of these key metrics. In this blog post, we’ll be discussing the Cost of Goods Sold for Shopify Store. Cost of Goods Sold (COGS) represents the direct costs associated with producing […]

How to Generate an Income Statement for Shopify Business

How to generate an income statement for Shopify business

Understanding the profitability of your Shopify business is crucial to your success as a business owner. The income statement for a Shopify Business gives you insight into how well your business is performing over a specific period and what you can change to be more profitable. An income statement, also known as a profit and […]

🚀 December Update: Shopify accounting with Vencru integration

Accounting Integration for Shopify

We’re thrilled to announce a game-changing upgrade for all our fellow entrepreneurs. Vencru, your trusted partner in business management, has taken a giant leap forward by integrating seamlessly with Shopify, one of the world’s leading e-commerce platforms. This integration is set to transform how you handle your online store’s finances, making your life as a […]

Chart of Accounts for e-commerce businesses: Detailed guide

retail chart of accounts

Accounting for an online business can be challenging, especially for a global business. Thus, it is important to have a structured framework for organizing all financial transactions. This makes it easier to categorize and record various income and expenses associated with e-commerce accounting. That’s where the Chart of Accounts for e-commerce businesses comes in. In […]

Best Accounting Software for Shopify Business

Best Accounting Software for Shopify Business

Running a Shopify business comes with its unique set of challenges, especially when it comes to managing finances. The right accounting software is crucial for streamlining your operations and ensuring accurate financial records. In this article, we’ll explore the essential features to look for in accounting software that integrates with Shopify stores and delve into […]

Guide to Restaurant Chart of Accounts (with sample PDF)

retail chart of accounts

Running a restaurant involves juggling numerous financial transactions, from managing inventory to tracking expenses and revenue. Restaurateurs need an organized financial framework to maintain control and make informed decisions. That’s where a Restaurant Chart of Accounts comes in. In this guide, we explain the Restaurant Chart of Accounts, delve into its crucial components, and show […]

17hats vs. Honeybook: Comparison (2024 Update)

17hats Vs Honeybook

Simplifying operations with accounting software enhances overall business management efficiency cutting down manual errors and calculations, ensuring compliance and providing insightful data for better decision making. The right accounting software for your business optimises time management, boosts efficiency and productivity and even better- comes at an affordable price. 17hats and Honeybook are used by various […]

7 Tips to Boost Holiday Sales

7 Tips to Boost Holiday Sales

The holiday season is upon us, and businesses worldwide are gearing up for the festive shopping rush. To make the most of this joyful time, it’s crucial to adopt a strategic approach. In this blog post, we’ll explore key strategies to boost holiday sales: 1. Select the Right Marketing Channels: One size does not fit […]

Inventory Valuation Report (Template included)

Inventory Valuation Report template blog

Inventory management is the heartbeat of every retail and wholesale business. To make informed decisions and stay financially sound, business owners need an accurate understanding of the value of their inventory. This is where an inventory valuation report comes into play. In this article, we’ll explore the intricacies of an inventory valuation report, why it’s […]

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