Streamlined Accounting Solutions for a Growing Amazon Business

Service type
Accounting and bookkeeping services
Tax return and reports filling
Duration
2 month
Challenge
An Amazon business selling silicone and plastic products with a monthly turnover of $80,000 and a team of four employees.
logo_gluit
About the client
GLUIT focuses on providing high-quality, practical solutions for everyday household tasks. Their product range includes adhesive hooks, storage tools, and other handy items designed to simplify home organization.

This is a typical e-commerce business in the United States, specifically an entrepreneur starting their journey on the Amazon platform. The client is creative and focused on developing their own products.

As for the metrics:

  • Monthly revenue of the company: $80,000.
  • Product supply: From China, via air and sea transport.
  • Team: 4 employees.
  • Additional services: Freelancers are hired for creative shoots through platforms like Upwork.
  • Plan: The company aims for rapid scaling.
Challenge

Despite a strong start and creative initiatives, our client faced challenges in maintaining effective accounting:

They spent too much time filling out Excel spreadsheets, Word documents, and reports that failed to reflect the company’s actual financial state. This led to a loss of enthusiasm and decreased productivity.

Key questions arose, such as:

  • How can an entrepreneur owning a company in Ukraine file reports in the U.S.?
  • How should all expenses be properly recorded and attributed to the company?
  • How should taxes be paid in the U.S.?
  • What additional forms might be required?
What we did
  1. Inventory Management Optimization:
    • Іntegrated inventory tracking tools with Amazon Seller Central.
    • Implemented systems for optimizing stock replenishment, reducing stock shortages by 38%.
  2. Improved Financial Reporting:
    • Transitioned bookkeeping to a cloud-based CRM, enabling real-time tracking of sales and expenses.
    • Enhanced financial accuracy, allowing better budget allocation and informed decision-making.
  3. Operational Efficiency:
    • Aligned operational processes with best financial practices.
    • This enabled GLUIT to focus on core product development and meeting customer needs.

These actions ensured improved financial transparency, consistent product availability, and an enhanced level of customer service, contributing to GLUIT's growth and success on the Amazon platform.

 

Our solution

Service: Comprehensive business optimization and outsourced accounting.

  1. Inventory Management: Implemented inventory tracking tools integrated with Amazon Seller Central to optimize replenishment processes.
  2. Financial Transparency: Transitioned accounting to a cloud-based CRM, providing real-time tracking of sales and expenses.
Testimonial
Nice to work with professionals. Very satisfied with the service provided. Definitely recommended 👍
gluit_ceo_picture
Oleksii Potapenko
CEO

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