Expanding Your Affiliate Activity into Europe - Silke Steffan
Our Step-By-Step Guide To Expanding Your Amazon Business Into Europe WELCOME!
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Transcript of Our Step-By-Step Guide To Expanding Your Amazon Business Into Europe WELCOME!
![Page 1: Our Step-By-Step Guide To Expanding Your Amazon Business Into Europe WELCOME!](https://reader035.fdocuments.net/reader035/viewer/2022062518/56649f4d5503460f94c6d3ab/html5/thumbnails/1.jpg)
Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
WELCOME!
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
How To Double Your Amazon Business By Selling Your Products In Europe
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
WHO ARE WE?
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
THE EUROPEAN OPPORTUNITY Over 200 million European Amazon customers
5 countries – Germany, France, Italy, Spain &
UK
Example: Amazon.de => over 24m uniques
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
THE EUROPEAN OPPORTUNITY Developing marketplace
Fewer sellers using FBA, fewer product
choices
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
DOES IT MAKE SENSE? Almost identical market size
No new products required*
One account to rule them all
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
DOES IT MAKE SENSE? One stock source to rule them all
One set of procedures to rule them all too
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
IMAGINE… No new products
No new suppliers
No new systems
…all from just one new account
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
Section 1: The European Expansion Roadmap A-Z
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
BEFORE WE START…LET’S BUST SOME AMAZON MYTHS
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
AMAZON MYTHS…BUSTED VAT?
Invoices needed for EVERYTHING?
Expensive?
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
AMAZON MYTHS…BUSTED Impossible Inventory?
Isn’t this just Global Export?
Lots of languages & currencies?
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
THE EUROPEAN EXPANSION PROCESSStart > Setup > Ship > Send > Sell > Save
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
THE EUROPEAN EXPANSION PROCESS
1. Set up a suitable business entity (Start)
2. Create EU Amazon account & EU listings
(Setup)
3. Ship products to a pre-Amazon location (Ship)
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
THE EUROPEAN EXPANSION PROCESS
4. Prepare & send FBA orders to Amazon (Send)
5. Products are sold across 5 countries (Sell)
6. Paid in the local marketplace currency (Save)
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
1. START Start a suitable business entity for Europe
Separate entity
Foundation for future growth
Tax structure
Business ready for scale
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
2. SETUP Create a Unified European Seller Account
Similar & simple
Sell across 5 countries at once
Single source inventory pool
One account to rule them all
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
3. SHIP Ship products from China / US (recommend: sea)
Send to pre-Amazon location
Customs / IOR (Importer of Record)
Inspect products (Unfulfillable)
Reduces ‘stranded’ units
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
4. SEND Units readied in pre-Amazon location
Prepare units based on created FBA orders
Ship to one Amazon marketplace
Use that stock to power all marketplaces
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
5. SELL Translate US listings into home marketplace
Localize dimensions & weight for each country
Recalculate sales prices
Monitor effect on profit
Scale to MCI in time
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
6. SAVE Paid in local marketplace currency
Currency may be converted
Potentially save on conversion with 3rd party
Multiple banks in multiple countries
Important if you plan to repatriate
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
THE EUROPEAN FULFILLMENT NETWORK
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
EFN (EUROPEAN FULFILLMENT NETWORK) The Unified European Account
5 layers – UK, DE, FR, IT, ES
5 separate seller accounts in one
Operate independently
One stock source
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
Think of it like this…
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
THE POWER OF ONE One business entity
One seller account
One inward shipment
One outbound stock source
One management approach
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
…And it’s all completely automated
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
IT’S EXTREMELY SIMILAR
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
It’s an ‘enhanced’ version of the FBA you know
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
Europe is an open playground right now
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
THE OPEN PLAYGROUND Ease of entry
Fewer sellers using FBA
Quality of listings & sellers – far lower
Entrenched sellers
Under developed markets
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
Multi Country Inventory
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
Section 2: Setting Up Your European Empire’s Structure
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
VAT – BASICS HMRC (UK Government body)
Differs to US style sales tax
Price shown to consumer – VAT included (if
applicable)© Johnson Kennedy DFK 2015
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
VAT – BASICS Value Added Tax – 20% in UK
VAT is generally higher than US style sales tax
© Johnson Kennedy DFK 2015
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VAT PAYABLE EACH QUARTER = OUPUT VAT – INPUT VAT = VAT OWED
© Johnson Kennedy DFK 2015
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
VAT – LLC VS LTD LLCs must register immediately with UK
Possible to save considerably on VAT threshold
How? Establish a UK business entity (LTD)
Can trade up to £81k in 12 months without reg.
requirement © Johnson Kennedy DFK 2015
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
VAT – LLC VS LTD LLCs must register in UK from the first sale
If using EFN – must register in every other country
© Johnson Kennedy DFK 2015
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
EFN / MCI UK Limited company in place
Freedom of movement of goods within EU
Distance selling threshold(s) – UK to other EU states
Once breached > must register for VAT in each country
© Johnson Kennedy DFK 2015
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
EFN / MCI VAT charged where goods are warehoused
(dispatched to customer)
LTD – use the EFN (distance selling thresholds)
LLC – must VAT register in each EU marketplace immediately
Once breached > must register for VAT in each country (MCI)© Johnson Kennedy DFK 2015
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
This is why an EU entity is VITAL
© Johnson Kennedy DFK 2015
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
Section 3: European Currencies & How To Deal With Them
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
EUROPEAN CURRENCIES 2 main European currencies (£ & €)
UK > £ / DE, FR, IT & ES > €
Sales price, Amazon fees & settlements – local
currency
At settlement period – currency conversion can occur
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
AMAZON CURRENCY CONVERTER Converts local currency to bank account currency
On settlement period completion, performs
conversion
Sends converted amount to your bank account
automatically
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
AMAZON CURRENCY CONVERTER Conversion rate Amazon use – expensive
No control over the timing of the conversion
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
RECOMMENED ALTERNATIVE Third party – completely within Amazon TOS
Local bank account set up
Settlement is sent to local bank account (no
conversion)
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
CURRENCY CONVERSION WorldFirst - currency conversion provider
9 years experience
Specialize in cross border transfers
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
HOW IT WORKS Amazon charge 3.5% on the foreign exchange
Commerce Bank based in Germany
Barclays Bank UK
Unique & segregated accounts
WorldFirst add 1.5% to your bottom line profits
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
Section 4: Localizing Your Inventory For Europe
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LOCALIZING INVENTORY1. Language
2. Product Packaging
3. Metric vs. Imperial System
4. Product pricing
5. Item specifics to avoid
6. Different fee structure
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Our Step-By-Step Guide To Expanding Your Amazon Business Into Europewww.marketplacesuperheroes.com
1. LANGUAGE US vs. UK differences
Professional translations are a must (www.translated.net)
Translation tool fine for customer services (if 100% FBA)
One off investment with insane ROI
Accounts can be managed in English
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2. PRODUCT PACKAGING Language – not initially necessary
Short product title translated recommended
Aspire to a multi-language instruction manual
Country specific boxes not required
Tip: Dual faced packaging
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3. METRIC VS IMPERIAL (SIZING) UK uses both – metric (cm, ml, kg) imperial (inch, fl oz, lbs)
EU uses metric only
Make sure that you localize both on your EU listings
Monitor sizing e.g. US shoe size vs. UK & EU shoe size /
Clothes sizes
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4. PRODUCT PRICING Isn’t necessarily a direct conversion from US sales
price
Must be recalculated – origin surcharge*, fees & taxes
Monitor competition to check estimated sales price
Create new product price using our research tools
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5. ITEM SPECIFICS TO AVOID Sizing (1m)
Multi box
Hazardous
Prohibited
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5. ITEM SPECIFICS TO AVOID Over 30kgs (66lbs)
Electrical (plugs + lightbulbs)
Non compatible sizes (paper)
Cultural (cars)
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6a. FEE STRUCTURES - DIFFERENCES Each country has a slightly different FBA fee
structure
Type of fees don’t change, it’s the values that do
Weight bands
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6a. FEE STRUCTURES - DIFFERENCES Origin of goods may affect final sales price &
profit
EFN fee / MCI inward shipment fees
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6b. FEE STRUCTURES - SIMILARITIES Amazon Seller Central account subscription fee
Sales referral fee
Pick & pack
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6b. FEE STRUCTURES - SIMILARITIES Weight based fee
Handling fee
Storage costs
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6b. FEE STRUCTURES - SIMILARITIES Standard size (imperial / metric)
Oversize fee (imperial / metric)
Returns policy
Reimbursement notifications
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HOW TO MAKE SURE YOUR PRODUCT IS PROFITABLE IN EUROPE
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PROFIT CHECKLIST1. Account for VAT regardless
2. Account for Amazon Referral fee
3. Account for Amazon FBA fees
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PROFIT CHECKLIST
4. Account for shipping cost of goods from origin
to FC
5. Account for the product cost (FOB / ExWorks /
DDP)
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LITTLE KNOWN COSTS TO MONITOR
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POTENTIAL PROFIT KILLERS Not expanding into these markets
Launching with the wrong business entity
Not using EFN to build data
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POTENTIAL PROFIT KILLERS Not knowing when to go MCI (VAT & Cost)
Using Amazon’s Currency Conversion
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POTENTIAL PROFIT KILLERS Using poor, non-professional translations
(translation tools)
Not adhering to the product specifics to avoid
Not localizing your product’s sizing
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POTENTIAL PROFIT KILLERS Directly converting US sales prices
Not incorporating the EU fees into your costs
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POTENTIAL PROFIT KILLERS Overreliance on direct airfreight shipments
Not understanding & maximizing cbm
Avoiding the use of an EU freight hub
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THIS LEADS US ON PERFECTLY TO DISCUSSING…LOGISTICS
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Section 5: Shipping Your Products To Europe (The Right Way)
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2 MAIN ROUTES:1. China to UK / EU2. USA to UK / EU
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CHINA TO UK / EU LOGISTICS PROCESS1. Goods are consolidated in China
2. Shipped from dock to UK / EU
3. Documents required. Matched & married.
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CHINA TO UK / EU LOGISTICS PROCESS4. Goods arrive at docks in UK / EU
5. Documents submitted to customs and excise
6. Release notes for taxes & duties
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CHINA TO UK / EU LOGISTICS PROCESS7. Shipping line releases goods
8. Transported to UK depot
9. Inspected thoroughly
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CHINA TO UK / EU LOGISTICS PROCESS
10. Labeled & prepared for Amazon
11. Delivery booked & completed for Amazon
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A - OriginB – Destination
C – Hub / DepotD – Amazon
FROM FACTORY TO FULFILMENT
EVERY ASPECT OF THE ORDER COMPLETE
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USA TO UK / EU1. Similar to previous process – some differences
2. Same documentation as before
3. Goods will travel from East Coast USA to UK
4. Arrival & delivery to Amazon process = same as
China to UK
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Section 6: Managing Your International Amazon Business
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WHAT TO MANAGE?1. Stock across multiple countries
2. Ordering for multiple countries
3. Inward & outward cash flow
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WHAT TO MANAGE?4. Reporting on the business
5. Accounting for the business
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1. STOCK ACROSS MULTIPLE COUNTRIES Start to build run rates for every product in every country
Need to know key product metrics
Origin
Production time (if applicable)
Transit time
Frequent stock monitoring
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2. ORDERING FOR MULTIPLE COUNTRIES Order regularly in a controlled manner
Systemized approach & prioritize
Maximize cbm size while considering the run rate
Make sure to have correct documentation (2 x PIs)
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3. INWARD & OUTWARD CASHFLOW Multiple flows of cash – monitor when & how much
Using RVF to predict the future company cash
position
Knowing when & if an order can be done
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4. REPORTING ON THE BUSINESS Sales reports across each country
Sales > Volumes / Values / Profits => run rates =>
forecasting
Stock across the globe – quantities, costs & RVFs
OPCs – where have you missed out
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5. ACCOUNTING FOR THE BUSINESS Liaise with our accounts team
You’ll need:
Sales & stock value reports / refunds reports
Purchase invoices / receipts
Bank statements
Any other relevant information
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LET’S TAKE A LOOK AT HOW ALL THIS WORKS WITH OUR
RESEARCH TOOL