Accountancy Help for SM>A Users


And anyone else who is interested.

Basic Accountancy Terms

It is important to the effective management of a business to track the profitability of the business over time. The idea of a P&L statement has been developed over 500 years to show business profitability and to allow managers to better understand the factors that affect the profitability of their business so that they can make informed changes in their business.

The P&L is also known as the ‘Income Statement’ especially in the USA.

 

The P&L is one of the three main accountancy reports that are used by business managers and analysts to understand the performance of a business. (the others are the Cashflow Statement and the Balance Sheet)

 

P&L statements can be requested by suppliers who want to evaluate the business as a credit risk when they provide payment terms or by banks who want to evaluate the business ability to re-pay a loan.

 

Creating a regular accurate P&L is one of the primary tasks of any accountancy package an SMMTA is designed to do it effectively and easily.

 

Every P&L statement should have a start data and an end date. The P&L statement tells you how the business has performed between the start and end dates – it can tell you nothing at all about what happened before the start date or what happened after the end date.

 

It is normal for a business to produce a regular P&L reports covering periods of the same length so that the business performance can be tracked over time. It is normal for retailers and fast moving businesses to work with weekly P&Ls, others prefer monthly and some very fast businesses track profitability on a daily basis. If you are a SMMTA customer we can help you to decide what is best for your business and to set up your reporting systems correctly – just get in touch with your account manager.

 

To help you to understand how your various costs affect your profitability a typical P&L is split up into sections as shown in the example below.

 

Section 1 Revenue

The Revenue section shows the business revenue splitting the different type of revenue up so that you can see how they compare

 

Section 2 Cost of Goods Sold

This section shows the costs that are directly attributable to those revenues, for example if the business sells products that it buys from a supplier, the cost of the items sold to customers in the recent line

 

Section 3 Gross Profit

The Gross Profit of the business is the raw measure of its ability to sell product at a profit, it can be positive or negative, but a business with negative gross profit has very serious problems!

Gross Profit is calculated as Total Revenue minus Total Cost of Goods Sold

 

Section 4 Overheads

Most businesses have lots of costs that are not directly related to the revenue that they make, for example the costs of Rent, Electricity, staff wages and other general running costs, these are referred to as overheads.

To make the P&L as accurate as possible you need to make sure that only the part of each expense that relates directly to the period that the P&L is reporting on, so for example if you have a weekly P&L for a business that rents its premises for $5,000 per year the weekly overheard for Rent will be 5,000/52 = 96. The process that sits behind the correct allocation of expenses to Reporting Periods is more complex than a simple division, it is called “Accrual”.

 

Section 5 Profit Before Interest Tax Depreciation and Amortisation (EBITDA)

EBITDA is a really useful measure of the profitability of a business, it is usually very similar to the business cash flow and it is the same as Profit Before Tax for any business that is financed by its own cash and has no bank or other borrowings.

 

Section 6 Depreciation and Amortisation

Depreciation and Amortisation are ways of spreading the cost of large assets like machinery or expensive pieces of technology over the whole life of the asset. In the same way that we considered only the relevant part of the rent in the Overheads section by depreciating a large machine tool each month we are able to allocate its cost more accurately to the business P&L.

 

Section 7 Profit before Tax

Depreciation and Amortisation is deducted from EBITDA to calculate Profit before Tax

 

Section 8 Tax

Most companies pay corporation tax and others may pay other taxes, they are recorded here

 

Section 9 Profit after Tax

When you deduct the cost of Tax from Profit before Tax you (obviously!) get the Profit after Tax. The Profit after Tax is normally shown on the bottom line of the P&L and it represents the actual, spendable profit of the business which can be taken out by the owners or used by the business – hence the colloquial phrase for business profit – ‘the Bottom Line’

 

It is normal for the P&L of a UK business to ignore VAT as it does not affect profitability.

Depreciation is a record of the loss of value of an asset that is charged to the P&L of a business.

Typical assets that depreciate are machinery and tools. For example if you bought a machine tool for $20,000 and expected it to last 5 years in use then you could depreciate it by $20,000 / 60 per month = $333.34.

When the machine is purchased the balance sheet value is unchanged by the transaction, cash simply turns into an asset of the same value, but then each month the depreciation $333.34 is charged to the P&L as an expense and the value of the asset is reduced by the same amount, hence after 5 years the machine is fully ‘written off’ ..

This has the effect of spreading the cost of the machine across its active life which is a more accurate way of recording its cost.

Amortisation is a similar process to Depreciation; however it deals with an asset which was built by the business its self rather than purchased.

For example – imagine that a company hired 3 software engineers to develop an application to help run their business, the developers were paid £400,000 in total over a period of 2 years and then the application was launched, It would be reasonable for the business to consider the £400,000 paid to the developers to be the cost of the application, and instead of reflecting the developers salaries in the overheads section of the P&L they could move it to the balance sheet as an asset. The value of the asset would be considered to have a set lifetime and it could then be depreciated over that period, however, rather than depreciation this cost is called ‘Amortisation’

The balance sheet is one of the major financial statements used by accountants and business owners. (The other major financial statements are the Profit and Loss report and the cash flow statement) The balance sheet is also referred to as the statement of financial position.

 

The balance sheet presents a company's financial position at a specific point in time. It is reasonable to describe the balance sheet as a "snapshot" of the company's financial position. For example, the amounts reported on a balance sheet dated August 31, 2018 show the position at the end of that day – they tell you nothing at all about what happened on the 1st September 2018 but they contain the combined effects of all business that the company has done from founding up to that day.

 

The balance sheet allows a business manager or an external person such as a supplier or a bank to see what assets a company owns and what it owes to other parties at the balance sheet date. This is valuable information to a bank deciding to offer the company a loan or not or to suppliers who want to know if the business can afford to pay them.

 

In addition to the assets and liabilities of a business the balance sheet shows how the business is funded, whether by shareholders investment, loans or retained profits.

 

The three main parts of a Balance sheet are shown on separate sections of the report, they are – Assets, Liabilities, Share owner's Equity

 

Assets

Obviously, the assets of a business are things that the company owns. To be shown on the Balance sheet they have to have a value that can be calculated and expressed in money.

Assets also include costs paid in advance for items or services that have not yet been provided, some other examples of assets on a company's balance sheet include:

 

Cash in the bank or held by the company as ‘Petty Cash’.

Money owed to the business by it’s customers often referred to as ‘The Sales Ledger’ or as ‘Accounts Receivable’

The value of goods in stock, called ‘Inventory’ or ‘Stock on hand’

Prepaid services like rent, Insurance or phone line rental

Land and Buildings

Equipment and Machinery

Goodwill

 

Usually asset accounts are shown with debit balances in the balance sheet, however some items are shown in the assets section of the balance sheet with credit balances, these are usually referred to as ‘contra accounts’ and they often show allowances for reductions in the value of assets or contingencies for assets which may not have the face value expected.

 

Some examples of contra assets include:

 

Allowance for Customers who may not pay their debts to the business in full for any reason (Often referred to as ‘Bad Debt Provision’ or ‘doubtful account provision’

Accumulated Depreciation accounts for assets like machinery or buildings which show how the value of those assets has declined over time as they were used and became worn.

 

The balance sheet is always shown in the companies reporting currency, items with values in other currencies such as bank accounts in foreign currency are translated into the reporting currency at the exchange rate set at the balance sheet date.

 

The values of assets shown on the balance sheet always reflect actual costs as recorded at the time that the asset was purchased. The rule is that assets are shown at the lower of cost or net realisable value.

 

As an example, let's say a company buys a warehouse building of 40,000 square feet in 2001 at a cost of £500,000, then in 2011 they buy an identical unit next door for £800,000 the value of the buildings on the balance sheet will be reported as £1,300,000 (the total cost paid for the buildings) even though it would be reasonable to assume that the real value of the two buildings is now £1,600,000.

 

All Balance Sheets are designed to be conservative, remember the rule, assets are shown at the lower of cost or net realisable value. So if you buy stock for £1,000, but the market for that kind of item falls and you can only sell them for £900 you must show them on the balance sheet at £1,000 minus a stock value provision of £100 to reduce the total value to the net realisable value of £900. The £100 provision for the value of stock will appear on the balance sheet and on the P&L where it will appear as a cost..

 

The cost of buildings and equipment will normally be depreciated over their useful lives. This means that over time the cost of these assets will be moved from the balance sheet to Depreciation Expense on the P&L. As time goes on, the amounts reported on the balance sheet for these long-term assets will be reduced.

 

Liabilities

Liabilities are obligations of the company, they can also be thought of as a ‘negative asset’.

Most Liabilities are amounts owed to creditors such as suppliers or banks. Along with share owner's equity.

 

Liabilities can be thought of as the way that the company funds its operation. For example, a company's balance sheet reports assets of £100,000 and Accounts Payable of £40,000 and shareholders equity of £60,000. The source of the company's assets are creditors/suppliers for £40,000 and the owners for £60,000. The suppliers have a claim against the company's assets and the owner can claim what remains after the debts to suppliers have been paid.

 

Liabilities also include amounts received in advance for products that have not yet been supplied. The cash received will be recorded as a cash asset, but it has not yet been earned, so the company defers the reporting of this revenue by showing a liability to supply the goods of the same value as the cash recieved

 

Examples of liability accounts reported on a company's balance sheet include:

 

Debts to Banks such as overdrafts

Accounts Payable to suppliers

Salaries Payable to staff

Income Taxes Payable

Customer Deposits and pre-payments

Warranty Liability

Liability accounts will normally have credit balances.

 

In the same way that assets have contra accounts to modify their values, liabilities can sometimes have contra accounts to modify their value. Contra accounts on liabilities will have a debit balance.

 

A good example of a contra account on a balance sheet is an account to show a discount issued by a supplier against a debt payable.

 

It is normal to split liabilities up into groups based on how soon they will need to be paid

 

Current Liabilities is the term used for debts that need to be paid within 12 months of the balance sheet date.

Long Term Liabilities is the term used for loans and other debts that are paid over more than a year.

 

So if you borrow £10,000 to be paid back over 2 years on the balance sheet date, £5,000 would show in Current Liabilities and £5,000 in Long Term Liabilities

 

It should be noted that there are a number of assets in most businesses that do not show on the balance sheet because they were not purchased and cannot be valued in money. A good example is the skills of the company’s employees, even the company with the very best sales force in the world cannot value them on their balance sheet for this reason. Similarly brands that are developed in house are not shown on the balance sheet – but brands purchased in a business acquisition are shown on the balance sheet.

 

Similarly some liabilities will not be shown, a contract signed on the balance sheet date will have no effect on the balance sheet unless transactions take place at the same time, its normal to disclose these items in the notes on the balance sheet.

Notes are normally added the Balance Sheet to help explain the state of the business, they often reveal important information.

 

Shareholders Equity

At the bottom of a balance sheet you will find the value of Shareholders Equity.

Shareholders Equity is a source of the company's assets. Owner's equity is sometimes referred to as the book value of the company, because owner's equity is equal to the reported asset amounts minus the reported liability amounts.

 

Owner's equity may also be calculated as assets minus liabilities.

 

Shareholders equity is made up of the value put into the business to buy shares plus the companies retained earnings since it was started.

Both owner's equity and stockholders' equity accounts will normally have credit balances.

 

Notes To Financial Statements

The notes to the balance sheet and to the other financial statements are an integral part of the financial statements. The notes inform the readers about such things as significant accounting policies, commitments made by the company, and potential liabilities and potential losses. The notes contain information that is critical to properly understanding and analyzing a company's financial statements.

 

It is common for the notes to the financial statements to be 10-20 pages in length to properly explain the business details to readers.

The CashFlow Statement (sometimes referred to simply as a ‘Cashflow’) is the most important accountancy report used by managers running a business. It is one of the three key reports (Profit and Loss account and Balance Sheet are the other two) and it is the most important statement that can be used to understand the health and wellbeing of a business.

 

Each Cashflow statement reports on a set period of time, it has a start date and an end date. The report shows the cash generated and the cash used during the period. Its that simple, two totals, how much cash the company received in the period and how much it spent – and a total showing is the business had more cash at the end of the period than it did at the beginning, or less. It is normal to split the cash in and cash out into different categories.

 

You can choose to show a cashflow for any period, but it is normal to match the periods used for your P&L and present the two documents together along with a balance sheet for the end date of the reporting period.

 

The cashflow adds information to the financial reports that are not in the other statements, the Profit and Loss Statement is prepared using the accrual basis of accounting, the revenues reported in it may not have been collected. Similarly, the expenses reported on the income statement might not have been paid. You could review the balance sheet changes to determine the facts, but the cash flow statement already has integrated all that information. As a result, savvy business people and investors utilize this important financial statement.

 

The cash from operating activities is compared to the company's net income. If the cash from operating activities is consistently greater than the net income, the company's net income or earnings are said to be of a "high quality". If the cash from operating activities is less than net income, a red flag is raised as to why the reported net income is not turning into cash.

Some investors believe that "cash is king". The cash flow statement identifies the cash that is flowing in and out of the company. If a company is consistently generating more cash than it is using, the company will be able to increase its dividend, buy back some of its stock, reduce debt, or acquire another company. All of these are perceived to be good for stockholder value.

An Accrual is an extimated cost placed into your general ledger as a marker until the actual cost is known

A typical use of an accrual is to estimate the cost of some goods in your warehouse beteen the delivery of the goods and the entry of the invoice from the supplier which specifies the actual cost.

Three way matching is the process of matching your Purchase Order, to your suppliers Invoice and to the Goods Recipt note for the goods to ensure that you recived what you ordered and were charged the expected price.

Concepts in SM>A

An Order is placed by a customer who would like to buy some products and / or services from you. An order can be entered directly into the system through the web interface or it can be automatically uploaded from a web store or a marketplace like Amazon or eBay.

Orders can also be created  directly from your own software system though the SMMTA API.

 

Every Order in SMMTA is linked to a Customer record, any Order can only be linked to one customer record.

 

Orders in SMMTA are made up of lines, at least one line is needed to make the order valid, there is no limit on the number of lines, but we recommend that you use a maximum of 10 lines per order for ease of management.

 

Each line of the order has a status, <list statuses here> which is set by the system, the statuses of the individual lines are combined to create the overall status of the whole Order.

 

Placing an order does not have any affect at all on the company accounts until the order is shipped to create an Invoice

 

Orders can be shipped in full or they can be part shipped, if an order is shipped in full then the order is used to create an Invoice which is then posted to the companies accounts as a group of new entries in the general ledger.

If the order is shipped in part then the order is split in to two orders, the first one uses the original order number and it contains the fully shipped parts of the order, it is used to create an invoice and then set to ‘shipped’. The second part of the order will contain the unshipped items on the order – it will have the same order number as the original, but with the suffix ‘-A’.

This process can be repeated in turn to generate further orders with suffix ‘-B’, ‘-C’ etc

 

When an order that was placed through a platform or marketplace is shipped the system will try to update the status of the Order in the original platform and provide the tracking number used to ship the goods if possible.

 

Unshipped Orders can be edited through the user interface or through the API and changes that are made to Orders in the original platform or marketplace where they were placed **should** also be reflected in SMMTA. Shipped orders can not be edited

 

Each customer record contains a currency setting, each customer currency is set when the customer record is created and can not be changed after that. All Orders created against the Customer Account will be created in the specified currency.

If you trade with the same customer in multiple currencies you need to set up a separate account for each currency. This makes the process of tracking what the customer owes to you much simpler.

SM>A stores details of your customers to make it easier to set up orders for repeat customers and to allow you to track customer sales records and for marketing purposes.

 

A Customer record in SM>A is a record that is used to store the details of a company, group, person or organisation that you have sold goods or services to.

Customer records can be created manually, or the system may set them up automatically from data downloaded when orders are synchronised with online stores or marketplaces, they can also be set up using our API.

 

Every Order in SM>A must be linked to a customer record, but of course many Orders can be linked to a single Customer record

 

A customer record is made up of 5 parts, each one is shown in a separate tab in the page above.

 

Basic Info

Contact List

Delivery Address List

Invoice Address List

Notes

 

 

A Purchase order is a document created in SMMTA to be sent to a supplier asking them to provide goods or services to the company.

 

Each Purchase order is linked to one and only one supplier record.

 

The purchase order tells the supplier what the company wants to buy, how many of each type of item and what price we have agreed to pay for each item. It the items require delivery then the PO will also tell the Supplier where to deliver them.

 

Each Purchase Order has one or more lines on it, each line representing a particular product or service that the company wished to purchase.  Each line of the order has a status, <list statuses here> which is set by the system, the statuses of the individual lines are combined to create the overall status of the whole Purchase Order.

 

The creation of a Purchase Order does not have any impact on the companies accounts, the first impact on the accounts comes when the goods or services ordered on the PO are accepted or booked into stock by the Company.

 

A Purchase Order is often referred to by the acronym ‘PO’. You can see a list of your outstanding Pos by going to the List and Search POs page where you can filter the list by PO status and by date, value and supplier.

When a supplier delivers goods to a Customers warehouse, the goods are booked into stock by a warehouse operative using the functions at <INLINK>. The user selects the PO that the goods have been delivered against and then confirms the number of each type of item that has been delivered. If the items have supplier serial numbers they can then be added to the stock records at this time by scanning bar codes or manually entering them.

For each type of item that has been delivered, the system will generate a ‘Goods Received Note’. The Name ‘Goods Received Note’ is often abbreviated to the acronym ‘GRN’.

 

The GRN is the companies record that goods have been Received from the supplier, when they were Received, how many were Received and which supplier they came from. When the Supplier sends the customer an Invoice for payment the quantity on the Invoice can be checked against the GRN as part of the ‘Three Way Matching’ process to confirm that the invoice is correct and can be paid (The price on the Invoice is also checked against the PO – hence ‘three way matching’).

 

The creation of a GRN has an effect on the companies General Ledger, because when the company accepts the goods hey also take on a liability to pay for them in due course. The creation of a GRN  generates a posting to the ‘Goods Received, Not Invoiced’ account in the General Ledger and another to the Stock Account, recording that the company has benefited by the transaction as it has gained ownership of some stock, but also taken on a liability to pay the supplier for that stock.

Supplier records are used to store information about the supplier that is needed for the generation of Purchase Orders. By storing all of the information in this way the process of generating a Purchase Order is made considerably easier and faster.

 

A supplier record can store as little as a company name, contact name and e-mail address, or it can store a comprehensive suite of information including multiple contact details, price lists and multiple warehouse addresses.

 

Each supplier record contains a currency setting, each supplier currency is set when the supplier record is created and cannot be changed after that. All POs created against the Supplier Account will be created in the specified currency.

 

If you trade with the same supplier in multiple currencies, you need to set up a separate account for each currency. This makes the process of tracking what the company owes to each supplier much simpler.

 

You also choose a default tax scheme for each supplier set this t the scheme that you trade with them under most – it can be changed on individual order lines if needed. (for example, if you buy both VAT chargeable goods and non VATable goods such as food from the same supplier)

The supplier record also has fields where you can enter details for the supplier’s API or FTP site. This can be used when you trade with suppliers who can connect their systems to yours electronically through their own instance of SM>A or another modern system, or they can be left blank for ‘old school’ suppliers.

 

A supplier record is made up of 5 parts, each one is shown in a separate tab on the supplier details page.

 

Basic Info

Contact List

Delivery Address List

Invoice Address List

Notes

The SMMTA system stores a list of your companies Warehouses in your data. A Warehouse is any location that you Ship orders from or accept deliveries of goods at. When you create a Purchase Order you select the delivery address for the goods from a drop down menu which is a list of your warehouses, this saves you time and effort.

 

All of the Stock Item Records in your database include details of the warehouse where the stock item is stored, and all Orders are allocated to a Warehouse so the system can tell if it is possible to ship each order from the warehouse that it is allocated to and hence it can generate a list of all the orders that you can ship today from each Warehouse that your order shipping staff can use to pick and ship orders.

 

It is of course possible to move an order from one warehouse to another or to ship part of an Order from one Warehouse and part from another – but this usually has a cost implication that should be considered carefully.

 

If you use 3PL services from companies like ShipWire, 3PL or Floship then you should set up each of the warehouses that you use as a separate Warehouse in SMMTA. If you use Amazon FBA then the way that you use their platform and the number of countries that you list in will influence the way that you set up the FBA warehouses in the system. If you use ‘Pan European’ selling in the Amazon Europe system then you can set up one Warehouse for the whole of Amazon Europe, however if you use separate agreements with each Amazon business entity in Europe, then you need to set up a separate warehouse for each.

Placing an Order does not have any affect at all on the company accounts until the order is shipped to create a Customer Invoice

 

A Customer Invoice is a document, created by the SMMTA system that records the fact that a product(s) or service has been provided to a particular customer at an agreed price and the Customer is required to pay for the goods or service.

 

Sometimes the Customer will have already paid before the goods are shipped, sometimes the customer will pay when the goods are shipped using a credit card, Paypal or similar, in these cases an invoice is still generated and the payment will be recorded against the Invoice in a separate process called ‘Bank Reconcilliation

 

Orders can be shipped in full or they can be part shipped, if an order is shipped in full then the order is used to create an Invoice which is then posted to the companies accounts as a group of new entries in the general ledger.

If the order is shipped in part then the order is split in to two orders, the first one uses the original order number and it contains the fully shipped parts of the order, it is used to create an invoice and then set to ‘shipped’. The second part of the order will contain the unshipped items on the order – it will have the same order number as the original, but with the suffix ‘-A’.

This process can be repeated in turn to generate further orders with suffix ‘-B’, ‘-C’ etc

 

The Invoice also usually documents the tax payable as part of the transaction and in many territories it is a legal record of the transaction that is required by the government.

 

SMMTA Invoices are generated as ‘.pdf’ files as well as being stored in the system database so they can be printed and included in a shipment or they can be sent to customers by e-mail.

In the same way that SMMTA customers issue invoices to their customers to record transactions, it is also expected that Suppliers to the company will provide Supplier Invoices.

Supplier Invoices are entered into the system by a users, or they can be entered by SMMTA staff on behalf of users. Sending an invoice to SMMTA to be entered into your account is as easy as taking a photo on your phone and sending it to us alternatively give your SMMTA email address to your supplier and have them send Invoices directly to our team for entry.

 

The Supplier Invoice is a legal document presented by the Supplier to the company detailing the charges to be made to the company, by the supplier for goods or services delivered to the Company.

 

The Supplier Invoice is entered into the system so that it can be checked to confirm that the company has been Invoiced correctly and then when it is paid the system can link the payment or payments made to the supplier to the invoice to show why the expenditure was made and what it was for.

 

The supplier Invoice record includes a picture of the Invoice which can be checked if needed at any time.

SMMTA keeps a record of every stock Item that is booked into the system, every item has a unique serial number which is either captured at the time the item is booked in to stock or it is allocated by the system. You can choose to print a label for items that are allocated system serial numbers if you wish to get serial number tracking on those items.

The stock item record is used to store all of the

 

It is possible to enforce serial number capture at a product SKU level if you choose to do so, if you do that, the system will require the entry of a serial number every time an item of that type is booked into stock.

 

By keeping a separate record for each item of stock we are able to provide batch level tracking as well as item level. All returns, warranty claims and customer service requests can be tracked and returns fraud can be reduced or even prevented.

The Reporting Period for a business is the period over which they generate their P&L. It is important to generate each P&L over a similar period so that the results of one period can be compared to other periods to help understand the performance change in the business over time.

Typical Reporting periods are usually weekly or monthly, although some companies use fixed 28 day periods to make them directly comparable in a way that calendar months are not. You can choose whatever Reporting period suits your business, if you need help deciding SMMTA staff are here to help.

Once you have set your reporting period it is normal to present P&Ls for multiple periods as a single report as shown below.

 

This allows graphing of different aspects of the P&L over time to spot trends.

Notes are text records attached to each major record in SM>A, they csn be added by the system to record an automatic update like aprice change based on an updated exchange rate or they can be manually added by a user to record a decision such as reducing or increasing a customers credit limit.

In SM>A any third party company that holds funds for your business is treated as a ‘Bank Account’. PayPal, Stripe, Braintree, Amazon Payments, HSBC, Barclays or Bank of America and all the others you may choose to use to collect or hold money for you – your accounts with all of these third party businesses are treated as ‘Bank Accounts’.


The reason that we treat them in this way is simple – they are all basically doing the same thing, they are looking after funds which belong to your business, the funds in the accounts that you hold with them belong to you and the accounts need to be reconciled and checked in very similar ways. By treating them all as the same kind of account we help you to understand your cash position more clearly and to keep track of fees and costs in a directly comparable way.


When you sell an item to customer Joe Blogs through Amazon the funds paid by Joe are paid into your Amazon Account, Amazon then hold those funds for you. Similarly when you sell on a shopify store and charge a customer trough Stripe the funds are transferred from the customer to your Stripe account. You cant pay your bills directly from your Amazon Payments account or your stripe account, but the funds are yours just the same and need to be recorded in your accounts in the same way and checked in the same way – so we treat all of these accounts in the same way


When you transfer funds from your PayPal account to your traditional bank account with HSBC, you are simply moving the funds from one account that you own to another – similarly when you move funds from your Stripe or Amazon Payments account to your Barclays Bank account.

An EAN code is a unique product idenifiacation code often shown as a barcode on a product.

EAN, or EAN13, stands for International Article Number (originally European Article Number). It is an extension of the UPC codes and you'll find them as barcodes on most everyday products. Sometimes the barcode is also called GTIN or GTIN13 (Global Trade Identifier).

About So Much More Than Accounts

So Much More Than Accounts is the worlds only combined software and services platform for business accounting, ideally set up to help Amazon sellers and other online retailers to track their business it is API centric, integration heavy and low cost.

 

So Much More Than Accounts