The Smartest Amazon Seller
Episode 236 - Accounting for Amazon Sellers with Ryan Hurley
Dec 18, 2023
Ryan Hurley, founder and lead developer of SellAnalytics, discusses the importance of accurate accounting for Amazon sellers and the limitations of existing tools like A2X and QuickBooks. He introduces Sell Analytics as a comprehensive solution for managing accounting and inventory. Topics include tying inventory into cash flow, using QuickBooks vs spreadsheets, learning how to operate an accounting firm, and building other sales channels.
20:35
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Quick takeaways
- Accurate accounting is crucial for Amazon sellers to make informed business decisions and avoid leaks in the business.
- Sell Analytics offers a comprehensive accounting platform that integrates transaction data, bank account information, and provides a double ledger accounting system for Amazon sellers.
Deep dives
The Importance of Getting Your Numbers Right
The podcast episode emphasizes the importance of accurately understanding and managing the financial numbers as an Amazon seller. It discusses the negative consequences of not having accurate accounting and inventory management in place, such as making bad choices and experiencing leaks in the business. The speaker shares personal experiences of having to write down significant amounts of inventory and emphasizes the need for proactive accounting to catch and address mistakes early. The episode highlights the value of having a complete picture of the company's finances, including sales data and off-Amazon transactions, and making informed business decisions based on accurate accounting.
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