47 posts tagged with "Accounting" — Page 2

A reseller who ships to California, Texas and Florida needs a certificate for each state, but until now a customer could hold only one exemption, and ticking Tax exempt took tax off every order they placed, even when their certificate had expired or covered a different state. That's exactly what a sales tax audit finds. Resale and tax exemption certificates gives each customer a set of certificates with their states, dates and documents. An order is created without tax only when an approved, in-date certificate covers the state it ships to, and every order shows why it was or wasn't taxed.

Walmart pays you every two weeks: one deposit for all your sales, minus commission, refunds, return-shipping charges and fees. Booking each order as its own invoice never adds up to what actually lands in your bank, so reconciling Walmart becomes a monthly chore of spreadsheets and adjusting entries. Walmart settlements fixes that. SKU.io imports Walmart's reconciliation report for every deposit and posts it to your books as one sales invoice and one fee bill that add up to the deposit to the cent. It works like Shopify and eBay payouts, so every channel now reconciles the same way.

SKU.io already tells you where you owe sales tax. Acting on it has meant exporting a report and re-keying it into a filing service, which only ever sees the one channel it's connected to. Wholesale and B2B orders you create in SKU.io aren't on any channel, so a filing service connected to Shopify or Amazon never sees them at all. Numeral is now a SKU.io integration. Connect your own Numeral account, and SKU.io sends it every sale and credit from every channel, including the orders you create in SKU.io. Numeral then handles your registrations, filings and payments.

If your accountant reports revenue by product line, every product needs the right sales and cost accounts — and until now that meant setting them on each product, one at a time, and remembering to do it for every new product too. Miss one and its sales land in the wrong line of your P&L. Account rules fix that at the source: write a few rules such as "Apparel posts sales to 4010 Apparel Sales", and every matching product follows them — today's catalog and every product you add tomorrow. A live preview shows what a rule will change before you save it, and an account map shows where your whole catalog posts.

When you're stuck on a screen, the answer usually lives in a guide on another tab. You search for it, read it, then switch back and try to remember which button it said to click. In-app guides bring that help to you. Open the guide on any SKU.io screen and it slides in beside the page, with the summary, the video walkthrough and the numbered steps for exactly what you're looking at. You can follow along without leaving your work.

Most teams have a rule for spending money: the purchasing manager signs off on everyday orders, the owner signs off on the big ones, and someone checks every deposit and bill before it's paid. Until now that rule lived in people's heads and inboxes. Approval policies put it in SKU.io. You set tiers by amount and choose who approves each one, and every purchase order, vendor deposit and bill payment is routed to the right people automatically. Approvers work from one Approvals queue, and email alerts mean a request never sits unnoticed.

When a wholesale or phone customer wants to pay by PayPal, the payment usually happens somewhere else. You send a PayPal invoice or request, wait, then open the order and type the payment in by hand. The PayPal fee never makes it onto the order, so the payment looks bigger than what actually reached your account. PayPal payments brings it into SKU.io. Connect your PayPal Business account, send the customer a pay link from the sales order, and when they pay, SKU.io records the payment on the order, with PayPal's fee, without you typing anything.

Import duty is often one of the biggest costs on a product, and one of the last to show up. Your customs broker bills it weeks after the goods land, as one lump sum for the whole entry, so until then your margins look better than they really are. Then the bill arrives and you have to work out which products it belongs to. Tariffs & duty closes that gap. Keep a table of duty rates by HS code, country of origin and destination, and SKU.io estimates the duty on every purchase order line. The estimate follows the goods to the inbound shipment and the receipt, and can go into stock cost the day they arrive. When the broker's bill comes in, SKU.io shows you how close the estimate was.

When ShipBob runs your warehouse, the day-to-day work splits across two systems. Orders have to reach ShipBob, tracking has to come back to your sales channels, and ShipBob's stock count drifts from yours. Then the weekly invoice arrives as a list of pick fees, packaging, surcharges, storage and freight that never makes it onto the orders and products that caused it. The ShipBob integration connects the two. Fulfillment orders go to ShipBob automatically, shipments, tracking, stock, returns and receiving come back, and every ShipBob charge is matched to the order, product or purchase order behind it, so your margins show what fulfillment really costs.

The delivery landed this morning and the cartons are on the dock. The customer's order is packed. But the receipt hasn't been keyed in yet, so SKU.io says you have zero on hand — and it refuses to ship. Until now, the only way out was to fix the paperwork first while the customer waited, or to let a sales channel ship it behind SKU.io's back and quietly lose track of the stock. Inventory debt replaces that with a deliberate choice: ship it now, record exactly what you owe and what it will roughly cost, and let the next receipt settle the difference — automatically, oldest debt first — with your books correct at every step in between.