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Managed IT services might be the right choice for you if you are looking for an economical way to support your company. These outsourced IT experts provide a wide range of IT services at a fixed price.

These services are also an excellent option for companies who need more expertise than they can hire internally. This IT service allows businesses to stay ahead of the game and avoid costly downtime.

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Security Monitoring

Security monitoring is a crucial part of the managed IT services process. It allows organizations to detect suspicious behavior and unauthorized system changes that could potentially lead to data breaches, malware infections, and other threats.

Continuous security monitoring detects suspicious devices connected to the network, and monitors user activities. This gives real-time visibility to all types of devices and prevents cyberattacks at the network level.

A security information and event management (SIEM) platform is important for effective cybersecurity monitoring. It can normalize and store data coming in from different sources, then correlate it to generate security insights and actionable alerts for IT teams.

Data Backup

Data backup is the creation of a backup copy of computer files or other information in order to prevent accidental loss or corruption. It is essential to preserve data integrity and protect against cyber threats like ransomware.

Managed IT Services provide a variety of backup options for businesses. These solutions include on-demand and scheduled backups, data deduplication and retention options.

These backup solutions can be an important part of MSP`s service to clients. They can reduce the impact of data loss and improve an organization`s ability to operate. In addition, it can help MSPs maximize their revenue potential.

Regulatory Compliance

Compliance with regulatory requirements is crucial in many industries, including healthcare and financial services. It helps businesses comply with industry and government regulations regarding security, privacy and data protection.

Non-compliance can lead to significant losses in business revenue and reputational damage. Managed IT Services are able to help businesses comply with relevant requirements.

Managed IT providers typically have in-depth knowledge of legal compliance and cyber security standards. This knowledge is priceless when it comes to risk mitigation for an organization.

Scalability

Scalability refers to the ability to change the demands of IT resources and add or subtract IT resources. Cloud scalability is particularly important because it helps businesses grow quickly and easily, without increasing capital expenditure.

It is also crucial to the success of MSPs. Scaling up is a great way to ensure your MSP continues its growth, whether you are expanding your business or opening new locations.

A Managed IT Services provider has the expertise and experience to help you scale up your technology as your business grows. You can have more technicians on staff and streamline your workflows to provide better customer service.

Cost-Effectiveness

Small business owners often face the challenge of spending too much on technology that doesn’t add any value to their businesses. They also fail to invest enough in technology that will help them grow their business.

Small businesses can benefit from managed IT services that solve both their problems and provide significant cost savings. Among these are predictable pricing, better security and increased expertise.

MSPs charge a fixed monthly fee that is based on which service package best suits your business. This eliminates the ad hoc costs associated with a break/fix approach to IT support.

Flexibility

Flexibility is a vital aspect of many managed service providers` business models. It enables them to grow their businesses and meet customer demands at the speed of business.

With this flexibility, they can add or subtract resources to match demand and avoid over-provisioning or capital outlays during temporary surges in needs.

Managed IT services providers have a diverse team of support experts with specialized knowledge of different technologies and solutions. This allows them to resolve issues more quickly and efficiently than a single IT expert, saving your company time and money.

The health of your body is very crucial to your well being and quality of life. Your teeth and mouth are a part of that too! It is important that your teeth and mouth are well nourished and taken care of to keep your smile healthy and shining bright. Luckily, there are many easy ways to help prioritize the Dr. Mohammad Mainayar and teeth with minimal effort. Here are some tips for keeping the beautiful and healthy smile you deserve from Dr. Mohammad Mainayar and Advanced Orthodontics Burien

Brush and floss

The American Dental Association recommends brushing your teeth twice a day for two minutes with a soft-bristled brush and flossing daily in between teeth to keep plaque at bay. Flossing, while boring and annoying, is pertinent to teeth health. Did you know not flossing is linked to heart disease? YIKES!

Eat Healthy

Sweet treats are delicious, and you should treat yourself. However, eating too many sweets can lead to cavities and even tooth decay. Eating a healthy, well-balanced diet complete with fruits and vegetables is the key to having healthy teeth and gums. When you do eat or drink something sweet, be sure to brush your teeth ASAP to remove excess sugar.

Rinse and Repeat

No one wants to be caught with stinky breath! However, mouthwash offers benefits other than making your breath smell fresh. Mouthwash helps to protect your teeth and gums by killing bacteria that can lead to gum disease. Be sure to rinse at least once a day for 30-60 seconds!

Visit your Dentist (and Orthodontist)

Routine oral health exams are essential for keeping your mouth healthy. It is recommended that you have a general dentist appointment every six months. At this appointment they can examine your mouth and address any potential issues. Then your hygienist can professionally clean your teeth and gums to remove any plaque and polish up your smile. Your general dentist can also recommend that you see your orthodontist if you might be a good candidate or benefit from -. It is recommended that children receive an orthodontic evaluation around age 7.

With just a little TLC, you can help preserve and maintain your beautiful, healthy smile. Your teeth and mouth will thank you! As always, never hesitate to reach out to - any teeth questions you may have!

E-commerce is an exciting and rapidly growing industry, but behind the scenes, successful online selling requires meticulous accounting practices. With so many moving parts, from managing inventory to calculating shipping costs and handling multi-channel sales, understanding ecommerce accounting is essential for sustainable growth. This guide will cover e-commerce accounting essentials, including revenue tracking, cost of goods sold (COGS), taxes, and useful tools to streamline financial management.

1. E-Commerce Revenue Tracking: Organize Your Sales Data

The first step in e-commerce accounting is understanding and accurately tracking revenue. Revenue tracking is not just about counting sales but involves correctly recording each transaction, net revenue, and associated fees.

• Separate Gross and Net Sales: Start by recording gross revenue (total sales) before fees and refunds. Then, subtract platform fees and any refunds to get your net revenue. This breakdown helps in accurately assessing your revenue health.
• Multi-Channel Sales Consolidation: Many e-commerce businesses operate on multiple platforms, such as Amazon, Shopify, and eBay. To simplify, use ecom accounting software that integrates with each platform, like QuickBooks, Xero, or A2X. This consolidates sales data from all channels, minimizing manual entry and reducing errors.
• Record Sales Tax Separately: Sales tax should be tracked separately from sales revenue. This will make it easier to handle tax obligations and ensure that you only remit tax collected, not additional funds.

2. Expense Management: Key Costs to Track in E-Commerce

Operating an e-commerce store incurs various expenses, from product sourcing to marketing, and correctly categorizing these is essential for understanding your business’s profitability.

• Categorize Your Expenses: Group expenses into relevant categories such as advertising, shipping, warehousing, platform fees, and payment processing fees. Clear categorization gives you a better view of where your money is going and can reveal potential areas for cost savings.
• Inventory Management and Expenses: Inventory represents a significant expense for e-commerce businesses. Tracking your inventory costs ensures you accurately calculate your profit margins and stay on top of stock levels. Software like TradeGecko or Ordoro can integrate with accounting tools for real-time inventory updates.
• Shipping and Fulfillment Costs: Shipping costs can vary widely and should be tracked closely to understand their impact on your profits. Consider splitting fulfillment costs from other shipping expenses for greater insight, especially if you offer free or discounted shipping options.

3. Cost of Goods Sold (COGS): Accurately Calculate Product Costs

The Cost of Goods Sold (COGS) is the direct cost associated with the production or purchase of the goods sold by your business. Calculating COGS is crucial for determining gross profit.

How to Calculate COGS: COGS includes all direct costs of goods, such as product purchase costs, shipping to your warehouse, and packaging. To calculate it accurately:

• Start with your beginning inventory at the start of the period.
• Add all purchases made during the period.
• Subtract your ending inventory at the end of the period.

Monitor COGS Consistently: Consistent tracking allows you to measure profitability accurately and adjust pricing if needed. Many accounting software solutions allow you to automate COGS calculations if you manage inventory correctly.

4. Cash Flow Management: A Lifeline for E-Commerce Success

Cash flow is the lifeblood of any business, and e-commerce is no exception. Effective cash flow management helps ensure you have the funds to cover expenses, reinvest, and grow.

• Forecast Future Cash Flow: Create a forecast by projecting sales and expenses based on historical data. This is especially helpful in e-commerce, where cash flow can fluctuate with seasonal trends and inventory purchases.
• Maintain a Business Bank Account: Keep personal and business finances separate by using a dedicated bank account for your e-commerce store. This will simplify reconciliation, make it easier to track cash flow, and prepare you for tax season.
• Allocate Funds for Taxes: Earmark a portion of revenue specifically for tax payments. Tax liabilities are an ongoing obligation, and setting aside funds regularly prevents cash shortfalls when taxes are due.

5. Tax Compliance: Understanding Sales and Income Tax Obligations

Tax compliance is a unique challenge in e-commerce, especially for multi-state or international sellers. Here’s what you need to know:

• Sales Tax Compliance: Each state has different sales tax regulations, and the “economic nexus” concept requires sellers to collect tax in states where they reach certain sales thresholds. Use tax automation software, like Avalara or TaxJar, to keep track of requirements and file taxes in multiple jurisdictions.
• Income Tax Preparation: Unlike sales tax, which is collected and remitted to the state, income tax is calculated on your profits. Ensure that all revenues, COGS, and expenses are accurately recorded to calculate your taxable income. Many e-commerce businesses benefit from hiring a tax professional to navigate complex deductions and credits.
• Keep Digital Records: Store receipts, invoices, and sales records digitally for easy access. Good record-keeping ensures you’re audit-ready and simplifies the preparation of tax returns.

Conclusion

E-commerce accounting may seem daunting, but with the right systems and tools, it becomes a manageable—and even insightful—part of your business. By staying organized, accurately tracking COGS, cash flow, and expenses, and using accounting software to automate processes, you can gain control over your finances and set your business up for long-term success. Accurate accounting allows you to not only comply with tax regulations but also make strategic decisions, capitalize on profitable opportunities, and steer your business toward growth.

If all those seem daunting to you, make it easy and automated with the help of connect books. The software helps you automate your accounting, track your inventory in real-time, get sales and profit calculations done for you daily. Check out https://www.connectbooks.com/ for more details