Barcode inventory management is an approach to managing inventory that involves the use of scannable barcodes to identify and track individual units of products. It involves assigning unique barcode labels to products, which can then be scanned using barcode scanners to capture important information such as product details, quantities, and locations. Whether you’re a new…
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What Is Inventory Planning? Guide for Retailers
Inventory planning is the process of determining the optimal amount of stock to keep on hand in order to meet customer demand while minimizing costs and maximizing efficiency. It is an essential aspect of proper inventory management, which helps you run a successful retail business. An inventory plan involves forecasting demand, monitoring inventory levels, and…
UCaaS vs CCaaS: Which Is Best for Your Business?
Unified communications as a service (UCaaS) and contact center as a service (CCaaS) are cloud-based solutions with voice, video, and messaging capabilities. When comparing UCaaS vs CCaaS, the difference lies in who they serve. UCaaS integrates all business communications, facilitating seamless internal collaboration, while CCaaS provides an all-in-one communications channel to manage customer interactions and…
How Do Cash Back Credit Cards Work?
A cash back credit card lets you receive a certain percentage from your purchase transactions, which you can redeem in various ways, depending on what the credit card issuer offers. Cash back rates are usually either fixed on all business expenses or varied depending on spending categories. Many business owners prefer cash back credit cards…
What Series A, B, C & D Funding Is & How It Works
Series A, B, C, & D funding are funding rounds that take place after an initial investment, typically known as the “seed funding stage.” Each round allows investors to partake in an investment in a high-potential startup or small business in exchange for a stake in equity. These rounds typically have various purposes, funding amounts,…
What Is the Expense Recognition Principle?
The expense recognition principle is a fundamental concept in accounting that dictates when a business records its expenses. It is also known as the matching principle, which emphasizes presenting a clear picture of a company’s financial performance by matching revenues with the expenses incurred to generate those revenues. For instance, say you buy inventory for…
Etsy Seller Fees: How Much Does It Cost to Sell on Etsy?
While it’s free to set up a seller profile on Etsy, there are fees associated with listing and selling products. The main Etsy seller fees are related to listing items for sale, processing payments, converting currency, advertising and promotions, shipping, and optional add-on services and tools. Listing fees start at 20 cents per item, and…
Retail Apocalypse: What Is It & How You Can Fight It
The retail industry has seen a dramatic change in recent years as the move toward ecommerce, economic pressures, experience spending, and other shifts have resulted in a wave of retail bankruptcy and brick-and-mortar store closures. Some are referring to these fluctuations in the retail landscape as the “Retail Apocalypse.” The retail apocalypse is a signal…