Nugent & Associates provides a complete outsourced ecommerce accounting service for your BigCommerce business.

  • Ecommerce consulting – ongoing business, technical, and process optimization guidance
  • Setup of integrated cloud accounting, cloud inventory, sales tax, and supporting tools
  • Sales tax registration and filing
  • Daily bookkeeping
  • Ecommerce Controller service

Running an internet-based business has its own set of issues compared to managing a business with physical locations. First, there are many different types of ecommerce businesses: e-tailers serving consumers, online businesses, internet marketers, business-to-business internet companies, membership-based sites, businesses supported by advertising revenue, bloggers, ecommerce websites, affiliate marketers, and domain flippers, to name a few.

Our Shopify Training Highlights:

Which Form of Business to Choose
  • Adding products and product information
  • Selecting a theme for your Shopify store
  • Customizing menus
  • Setting up shipping
  • Collecting payments online
  • Configuring taxes
  • Installing Shopify apps
  • Managing orders, inventory, and sales from the dashboard
  • Launching your store

Shopify itself will provide you with tracking for your sales, discounts and refunds of course. However, this is limited and lacks detailed information for your accountant to use such as cost of goods sold to be determined for record’s sake.

Why is Knowing Cost of Goods Sold Important?

Cost of goods sold (COGS) is another financial metric that can be difficult to wrap your head around. But there's no need to get swamped by all the figures and financial jargon.

It may be a pain at first, but stick at it. When everything clicks into place, your business becomes much smarter by all accounts.

Get on top of this important metric, and you can find ways to make more money — without gaining any more customers.

That’s how powerful good accounting practices are. It is why big enterprises spend colossal amounts on accountants and legal advisers.

Your small manufacturing business doesn’t have to get left behind. Everything is under your control. We’re here to show you there is a quick and easy solution designed for small businesses.

Cost of goods sold is one of the vital cogs in your manufacturing business. It may be tempting to ignore or overlook it — this is not only bad practice, but bad for your margins.

What is Cost of Goods Sold?

In short, cost of goods sold is how much it costs your business to sell inventory over a given period of time. This could be monthly, quarterly, or yearly. You could calculate COGS every month, and also do a quarterly review to make sure everything lines up. Other businesses may only do this quarterly.

It's up to each business owner to figure out what is best for their needs. In any case, the basic principles stay the same.

COGS is a method of giving a real-world valuation to your inventory. It’s a must-know for proper inventory management. Your material and labor expenses could fluctuate from month to month. It pays to keep up with the price of getting your goods to market.

COGS tells you how much you spend to turn your raw materials into sold products.

It is useful in two main ways:

  1. It gives you important information about your business’ expenditure; and

  2. It is necessary to produce accurate tax statements, which shows your taxable income.

In the US, small businesses are routinely subject to tax audits. The IRS makes sure they are reporting their income accurately. This means that COGS is serious business.

Calculating cost of goods sold is vital to know your taxable income. Other metrics like leftover stock can also be taxable, so you need be on top of everything.

The accurate calculation and reporting of COGS is necessary under GAAP (Generally Accepted Accounting Principles).

We will go through how to calculate cost of goods sold from a manufacturing perspective.

At Nugent & Associates, we're not just number crunchers. We bring over 3 decades of invaluable certified public accounting and tax expertise to your company – serving as business and financial strategists who can offer such services as tax and financial planning, investment advice, diligent financial records, and help with estate planning.

Even better, we will give you time to focus on what you do best: running the day-to-day operations that drive your business toward success.

Take advantage of our FREE and no obligation business checkup.

We will visit you at your business at a time and day convenient for you, analyze your numbers, discuss your goals and concerns and report back with a complimentary detailed written analysis to help your business succeed!

At Nugent & Associates, we're not just number crunchers. Our people bring decades of invaluable certified public accounting and financial and tax expertise to you – offering tax and financial strategies to individuals such as yourself. If you have any questions or concerns about your own tax, financial or investment matters, please do not hesitate to contact us.

Experienced tax and financial experts are not just for the super rich. At a reasonable fee you too can maximize your wealth and receive professional guidance for retirement, and/or any tax issues you may be facing, no matter your situation, with a tax and financial expert as your consultant.

Contact Nugent & Associates today. We don't charge for phone calls. You may just find you found an ally in your quest to have a great financial future.

After all, at Nugent & Associates, we succeed when you succeed!



This page is intended to be informational. This website, nor any of the information contained on this site constitutes professional, business, tax or legal advice and is not a substitute for such advice nor does it create a professional-client relationship between you and Nugent & Associates.

State and federal laws change frequently, and the information in this page may not reflect your own state’s laws or the most recent changes to the law.

The information contained within this website should not be considered as a solicitation or an offer for a professional-client relationship. Materials contained in this website are of a general nature and should not be substituted for professional advice. Nugent & Associates is providing this website and the information contained herein only as a convenience to you. Nugent & Associates assumes no liability or responsibility for any errors or omissions contained within this website. There is no guarantee that the information included on this site is current, accurate, complete, useful, or reliable.

Tax Planning & Preparation

We assist our clients in individual and business tax planning throughout the year.

Nugent & Associates provides:
  • Year-Round analysis to ensure a smooth and predictable year-end close.
  • Assist in establishing retirement planning.
  • Performs in-depth review of all deductions available.

Financial Statements

Nugent & Associates offers outstanding accounting services and acts as a quasi-controller for companies who do not employ their own full-time accountants.

This allows our clients with more time to focus on new services, new customers and other core business issues.

Business Planning, Budgeting
& Growth Strategies

Nugent & Associates assists it clients with:
  • Starting a new venture, product or service
  • Expanding a current organization, product or service
  • Buying a new business, product or service
  • Turning around a declining business

QuickBooks Training
& Support Services

As Certified QuickBooks Professional Advisors, we can be of assistance with QuickBooks accounting or payroll and help increase your productivity and efficiency.