ClastBiz

▶ Top 5 Advantages of Inventory Management in E-commerce
1️⃣ Improved Inventory Forecast
2️⃣ Goal-driven Business Decisions
3️⃣ Do Away with Stock-outs, Backorders, and Deadstock
4️⃣ Enhance Customer Satisfaction
5️⃣ Lower Storage Expenses

▶ 5 Challenges with Inventory Management in E-commerce
1️⃣ Lack of insights
2️⃣ Overstocking
3️⃣ Overselling
4️⃣ Lack of visibility across multiple channels and multiple warehouses
5️⃣ Manual management




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What Causes Negative Inventory?
1. Timing
2. Production
3. Multi-Location Inventory
4. Negative Item-Level Stock
5. Incorrect on-Hand Inventory
6. Picking Mistakes




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Year End Bookkeeping Checklist
Record All Transactions
Do a Bank Reconciliation
Review Your Financial Statements
Check Your Accounts Receivable and Invoices
Check Your Accounts Payable
Perform an Inventory Count
Take Time to Reflect (Important)
Send Info to Your Bookkeeper





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Bookkeeping tips for small businesses
1. Keep personal and business finances separate
2. Automate as much as possible
3. Keep thorough records
4. Set reminders for deadlines
5. Leave an audit trail
6. Track business expenses
7. Keep your books at the top of your priorities





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6 Accounting Tasks Your Business Can Outsource Tomorrow

▶ Bookkeeping.

▶ Reporting to authorities and Management.

▶ Payroll processing services.

▶ Account payables (payments creation).

▶ Account receivables (debtors follow up).

▶ Payroll




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7 Strategies for Surviving a Cash Flow Crisis
1. Adjust Your Business Plan to Improve Profit Margins
2. Accelerate Your Receivables
3.Negotiate Your Payables
4. Consider Borrowing Options
5. Raise Investor Capital
6. Slash Expenses
7. Sell Non-Essential Assets

Two Best Practices to Follow at All Times in Your Business for Better Cash Flow
1. Prepare
2. Prevent




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Why ClastBiz Solution is the Preferred Bookkeeping Company?

▶ Robust Ethics
We maintain the highest standards of business ethics.

▶ Superb Infrastructure
Our robust infrastructural set-up and qualified resources ensure uninterrupted services to our customers.

▶ Experience
We have over 10 years of experience in servicing international customers.

▶ High-quality Services
We employ only industry standards-based best practices and methodologies ensuring the highest quality every time.

▶ Bookkeeping Proficiency
We are proficient in different types of bookkeeping systems like double-entry bookkeeping.

▶ Cost-effective Pricing
Our professional bookkeeping services are reasonably priced and available to clients with a wide range of budgets.




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Importance of Savings

People save money for a variety of reasons as it provides financial security and freedom and also secures you in case any financial emergency arises. One can avoid debt, pay off loans, live their dream life and avoid further debt if they have saved a sufficient amount (which differs from each individual to other). The importance of savings cannot be denied, owing to the multiple benefits that it offers.

1.Long-Term Security
2.Savings is a Step towardsattaining Financial Freedom
3.Saving Money allows you to take Calculated Risks
4.Savings Reduce Stress
5. Savings allows to take benefits of compound interest




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How to Calculate the Selling Price of Your Products?

Your selling price should be such that you get a fair price. Additionally, you will need to consider the customers’ mindset. So, the first step to calculating the selling price is to evaluate the cost price.

The cost price is your cost of manufacturing. Your end product has accumulated various costs before being ready for sale. This cost includes costs incurred for marketing and sales activities. Also, costs for R&D and other activities must be included. To register a profit, you must add an amount to this cost price.

Variable costs rise in direct proportion to output. Variable costs can include direct labor, raw materials, equipment repairs, distribution fuel costs, marketing expenses, and other expenses.

Fixed Expenses Component
Fixed costs are costs that remain constant from month to month. These costs are incurred regardless of how much is generated. They are time-based, such as monthly rent, annual real estate taxes, annual machinery expenditures, and depreciation.

All these costs contribute to the cost price of the product.
If your company buys in bulk, calculate your product selling price by unit.

Utilize the following three steps to establish your product's selling price per unit:
1.Calculate the total cost of all acquired units.
2.Divide the cost by the total number of units purchased to obtain the cost price.
3.To determine the final selling price, use the selling price formula.
Cost Price = Raw Materials + Allocated Overhead of Manufacturing + Direct Labor

Once you have the exact cost price, you may calculate the selling price as follows:
Selling Price = Cost Price + Profit Margin




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