Amazon Management Accounting with Sergey Faldin of Sellerscale
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Management Accounting for Amazon Sellers
Resources Mentioned today
Management accounting cf financial accounting
- Why accounting does not just mean “financial accounting”
- What management accounting is and why you need it
- The limitations of Quickbooks and Xero for Amazon sellers
- Who the reports are actually designed for
- Why the delay in reporting is so critical
Why Amazon sellers often struggle with numbers
- Why Amazon being is so easy to start can be a problem
- Why Amazon “is ecommerce on training wheels”
- Which piece of management is the least developed
- Why having no excel skills leaves Amazon sellers in trouble
Why Paul created Sellerscale– Meditation pillow
– Low pricing power Bec not differentiated
– Didn’t realise until it was too late and he was out of business!
– It’s cheaper to do due dil upfront
– He shared the spreadsheet and got a lot of feedback
Why Amazon accounting is inherently hard
- The issue with Amazon reports
- The thing you have to do with Amazon reports that’s even harder
- The one thing you can’t do easily with Amazon reports that is critical to cashflow and cash cycle management
- The intrinsic e-commerce issue – especially if you’re importing – that means you can’t affrod to get your economics wrong.
- The three big issues with accounting packages like Xero and Quickbooks for Amazon management accounting
- The 5 main Amazon management accounting problems Seller Scale solves
Trying out Sellerscale
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Sergey is CMO of Sellerscale, which is a management accounting platform that helps amazon sellers stay on top of their financials.