Blog / Bookkeeping and Inventory

Bookkeeping and Inventory

• Cash Basis or Accruals for a Stock Business? What Online Sellers Should Choose

  Cash basis is the default for sole traders but distorts a stock business. Why most online sellers get better data from accruals accounting.

• Cost of Goods Sold and Inventory for Online Sellers: Why Your Profit Is Higher Than Your Bank Balance

  Why your taxable profit is higher than your bank balance. How COGS, closing stock and the lower-of-cost-and-NRV rule work for UK ecommerce sellers.