Financial management for a growing e-commerce business

I worked with Kyla's Wear, an e-commerce startup specializing in producing and selling comfortable nightwear, to implement efficient bookkeeping processes and provide accurate financial insights. Kyla's was experiencing rapid growth and struggling to keep up with their financial record-keeping.

My Role: Virtual Bookkeeping

Chart of account setup; I designed and implemented a customized chart of accounts in QBO to categorize Kyla's wear income and expenses accurately This involved analyzing their business model and identifying the financial categories needed for reporting and analysis.

Transaction processes; I processed all daily financial transactions, including sales purchases and bank reconciliations ensuring accuracy and timeliness.

Financial report; I generated financial reports ( profit and loss, balance sheet) to provide Kyla's wear with a performance overview. I tailored the report to highlight key metrics and provide insights into their profitability and financial health.

Inventory management; I assisted with inventory tracking and cost of goods sold calculation to ensure accurate product costing. This involved working with Kyla's Wear to establish an inventory management system and integrating it with their accounting software.

Provided Kyla's Wear with timely and accurate financial reports, enabling data-driven making decisions. These reports gave them a clear picture of their financial performance and helped them make informed decisions about pricing, marketing, and inventory management.

Streamlined bookkeeping processes, saving Kyla's Wear 10 hours per month. This freed up their time to focus on other aspects of their business such as product development and marketing.