Inventory. It’s the very foundation of all ecommerce businesses. If managed properly, your inventory can send sales through the roof. If managed poorly, your sales can fall off a cliff and leave you wondering what just happened.
If you’re a Profit First business, you already have a leg up on allocating funds to purchase and replenish, and the Profit First setup allows you to easily plan for those needs. But to take it a step further, you need a system that will help you manage and analyze your inventory so you’re always aware of what’s making you money and what is costing you money!
That’s where InventoryLab steps in to save the day! InventoryLab is a fan favorite of many of our bookskeep clients. Why? Because they have designed a program that offers real solutions to Amazon sellers for managing their inventory, tracking income and expenses.
This unique system offers some very powerful tools and features to improve your efficiency and increase your profitability. You can:
- Research products
- List and manage your inventory
- Track your expenses
- Analyze your profitability
- And so much more!
The features our clients rave about the most include the ability to:
- List products
- Print shipping labels
- Build FBA shipments or add to your merchant-fulfilled inventory
- Track costs and visualize your net profit
- Manage everything from mileage to business overhead with expense tracking
- See the profitability of every sale using the automated income tracking feature
As accountants, we rely on our clients to keep their inventory software up to date. By having a good system with reliable data, we can pull out information such as the Cost of Goods Sold for the period or the value of the inventory on hand. This allows us to update their financial records to track these important accounts and give them a complete picture of their business finances.
Additionally, InventoryLab has created a compatible mobile app called Scoutify that brings it all to your fingertips anywhere, anytime. It can really put the power in your hands when you’re sourcing profitable inventory on the go.
Take a look at InventoryLab and envision how nice it could be to have a system in place that tracks, manages, calculates, analyzes and reports all your critical data whenever you ask for it. And you can finally get rid of those spreadsheets! And if you're interested in getting your business on the Profit First path, bookskeep is here to help!