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Your federal taxes are sent through the IRS to confirm your tax liability. By filing business taxes accurately you are less likely to be targeted for a tax audit which is an extensive and painstaking review of your business’s financial records.

Properly managing inventory levels is an essential part to every business. But what happens when you have too much inventory? Excess, or surplus, inventory refers to products or ingredients that are nearing the end of their product life cycle.

When you account for all your audience’s senses, you’ll start to notice it exposes things in your business you may not have easily noticed before. Making sure all five of your customers’ senses are catered to will make shopping in your store more engaging. Shoppers will be more inclined to come in and look around, even if they’re not quite sure why.

Completing a physical inventory count is important for meeting customer expectations and determining your ending inventory value. Your ending inventory value is used for tax purposes and financial statements during the next accounting period.

Conducting a year-end inventory count and calculating ending inventory can put a lot of pressure on retailers. That’s why we compiled this guide to walk you through your end of year inventory tasks step by step.

Follow this guide before the upcoming shopping season so you can spend less time in the back office and more time participating in the holiday cheer. We’re sharing some of the most common headaches we see retailers experience during the holidays so you don’t have to.

Before Black Friday shoppers arrive at your store, ensure you design a holiday product strategy, prepare for longer lead times, and complete a cycle count. Once your inventory is ready for the holiday season, it’s time to attract customers with an exciting marketing campaign.

The products and variants that make up a physical or e-commerce store’s inventory is known as product assortment, or merchandise mix. A comprehensive assortment strategy includes the different product categories you stock, as well as, any variations in each product line.

Opening a second location is a great way for small businesses to expand growth, profit, and their footprint. However, it can also be a risky gamble. Each new location means additional fixed costs and new challenges. Without the right combination of financial and strategic resources in place, a poorly thought out expansion can easily stunt a growing business.

Creating Shopping Ads allow Google to work its magic with an algorithm that displays your product in front of the right people. This means your product can jump to the top of a number of search results. Additionally, you can optimize your listing even further on Shopping Ads to set your products apart from free listings.

The Shopping tab on Google consists of both free and paid product listings that are relevant for a buyer’s search. For shoppers, it can lead to more available e-commerce products online from more stores. Additionally, it’s a source to compare vendors, prices, and conveniently place an order.

There’s no part of inventory management that’s more subject to mind games than pricing. The way you set your prices dictates a lot about the consumer’s behavior—whether they realize it or not. Sales pricing strategies are important because they help you understand your customers’ needs and preferences. They also determine the best price point for driving revenue.

A/B testing pits product variations against each other to eliminate products or strategies that aren’t effective. That way you can maximize profits and conversion rates on the items you do sell. It’s not just about raising or lowering prices. It’s analyzing your inventory as a whole so you can make business decisions based on data, not intuition.