[Music] Welcome to FDCs econ vlog my name is  Chris Hibbs and I'm one of the Head Accountants at Easier Account. I'm here to share with you my experience on accounting of bookkeeping in the e-commerce industry to help you learn  more so that you can earn more. Some of  the most common deductions for  e-commerce business are banking and merchant fees, home office, subscription cost, shipping costs, a good soul expose, the list goes on and on. Using a cloud-based accounting software makes it easier to track these expenses so that you can maximize your deductions at your end people who start an  e-commerce business usually don't love  accounting but have the desire to make  additional income or to replace their  full-time job. The number one problem  that I have seen in e-commerce companies  is that they don't know where their  books are at on a monthly basis using a cloud-based accounting software is a  great way to allow you to know how your  business is doing throughout the year  and streamline your account one of the most user-friendly softwares that we  have found as a company called 0x e ro  there are others such as wave or QuickBooks Online also GoDaddy  as bookkeeping software available all of  these are solutions to keep you in a  great position to be able to file taxes  on time and claim all the deductions that you can all of these solutions can  most major bank accounts credit card  companies and PayPal. One of the reasons  that 0 is our preference is because it  allows you to connect to your accounting  solution with the other systems you are  currently using such as your CRM, inventory, point-of-sale, shopping cart, invoices, billing and so much more. Monthly bookkeeping is more important  than you may think because it allows you  to know your numbers. Being able to make an informed decision is paramount to running a business. Jeff Bezos certainly  doesn't run Amazon without having a good  grasp of where the financials are. If you  want to achieve success knowing your  numbers is the first step  bottom line to be able to reach your  goals and to pay the least amount of  taxes you have to know where you  currently are, track progress, identify  problems and make adjustments so that  you can adapt and plan throughout the year. We wish you the best of luck on all  your ventures. This is Chris Hibbs signing off staggering  [Music]