Do you identify with any of the following statements?
1 – I don’t know how COGS is calculated
2 – I don’t know how QuickBooks writes off my inventory (is QuickBooks supposed to do that automatically?!)
3 – I don’t know if I’m overpaying taxes by having COGS too low
In the last eBook, I showed you 27 of the most frustrating mistakes I’ve seen people make. Click here to read a free chapter if you haven’t yet.
But that was just one piece of the puzzle. What I’m talking about today is the single most important thing you need to know if you have inventory.
It’s Crack the COGS Code. This latest ebook will show you...
- How to know if you’re overpaying your taxes or not
- How Inventory and Non-Inventory Items affect your profit margin differently
- How to have the best financial information for inventory
That is the key.. understanding how inventory affects your money every single day.
In my experience, here’s the typical small business owner’s attitude to inventory.
- Buy inventory, enter it into QuickBooks using whichever process seems best at the time
- Sell some inventory
- Create invoices or sr's to show the sale
- Run financial reports and not really understand how COGS is calculated
- Buy lots of inventory near the end of the year because it’s a good deal
- Don’t take a physical inventory at the end of the year.
- Repeat over and over
Pretty standard, right?
Well, I’m going on record to say that it’s weak.
No matter HOW GOOD your inventory is, or how great your sales are, or how wonderful your vendors are... you can do a lot better if you’ve got the GUTS to find out how it all works, and if it’s working right or not for YOU.
Bad financial information is costing you money every single day. Get the best and get it right now.
Crack the COGS Code here.
P.S. Do your friends a favor and forward this email to them if they have inventory. Thanks!
QuickBooks is a registered trademark of Intuit, Inc.
P.O. Box 3303
Vista, California, 92085