Ecommerce Finance Podcast

Stephen Brown | LedgerGurus
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Hosted by Stephen Brown, COO of LedgerGurus and co-owner of DTC brand Sole Toscana, this podcast is your go-to resource for mastering the financial side of ecommerce. Stephen and his team have worked with hundreds of brands through LedgerGurus which specializes in ecommerce accounting. Add to that his hands-on experience with Sole Toscana, gives him unique insights into the challenges and opportunities ecommerce businesses face. On The eCommerce Finance Podcast, we dive deep into the financial side of ecommerce. Any topic is open for discussion as everything you do in business has a financial impact. Be prepared to go deep with experts and brand leaders on a variety of topics with an understanding of their financial impacts. Join us as we bring you practical tips, expert insights, and real-world strategies to help you thrive with ecommerce. Tune in and transform your ecommerce business today!

  1. E26: Metrics for Every Stage of Ecommerce Financial Maturity

    3D AGO

    E26: Metrics for Every Stage of Ecommerce Financial Maturity

    Stephen Brown from LedgerGurus sits down with Geoff Gualano from A2X to break down the four levels of ecommerce accounting maturity and the metrics that actually matter at each stage. Many founders think they understand their numbers because they can see revenue in Shopify or Amazon. But once payouts, fees, inventory, and cash flow enter the picture, the story gets more complicated. This episode walks through what changes as a business grows, why accrual accounting matters sooner than most people think, and how clean financial data unlocks smarter decisions, better forecasting, and stronger investor conversations. Takeaways In an ideal world, everyone would have accurate metrics to track.Most e-commerce businesses fall into one of four maturity levels.Level one focuses on basic compliance and tax metrics.Level two emphasizes financial visibility and understanding past performance.Accurate revenue recording is crucial for higher maturity levels.Level three involves forecasting and budgeting based on accurate data.Level four is about being investor-ready with reliable financials.Understanding cash flow is essential for business sustainability.E-commerce businesses need to adapt to changing market conditions.Continuous improvement in financial practices leads to better outcomes. Chapters 00:00 Why revenue is harder than it looks 03:10 The four levels of accounting maturity 07:20 Cash vs accrual accounting explained 12:45 Why accurate revenue changes everything 16:30 The key profit and margin metrics 22:10 Advertising, fulfillment, and contribution margin 28:00 Cash flow and inventory pressure 32:40 The cash conversion cycle breakdown 36:30 Moving into forecasting and planning 40:15 Budget versus actual and scenario planning 44:30 The era of the sophisticated seller 47:20 Investor-ready financials and due diligence 52:00 Final advice on leveling up Guest Info Geoff Gualano leads go-to-market at A2X, where he oversees marketing, revenue operations, and partner relationships. He has spent nearly a decade in the cloud accounting ecosystem, including time at Hubdoc and Xero. At A2X, Geoff works with ecommerce sellers and accounting firms to automate revenue reconciliation and bring clarity to financial reporting across platforms like Shopify, Amazon, eBay, Etsy, Walmart, and PayPal. His focus is helping businesses trust their numbers so they can make better decisions and scale with confidence. Geoff Gualano on LinkedIn If you are unsure where your business sits on the maturity curve, our team at LedgerGurus helps ecommerce founders move from reactive bookkeeping to strategic financial clarity. https://link.ledgergurus.com/e26-rss

    56 min
  2. E25: Data rich. Decision poor. What’s missing?

    FEB 4

    E25: Data rich. Decision poor. What’s missing?

    Stephen Brown from LedgerGurus talks with Nate Littlewood, founder of Future Ready CFO, about why ecommerce founders struggle to turn financial data into real decisions. Even with dashboards and reports, many operators feel stuck, overwhelmed, and unsure what actually matters. This episode breaks down why more data doesn’t create clarity, how to identify the numbers that matter most, and how simple frameworks help founders focus, reduce stress, and make better decisions without becoming finance experts. Key Takeaways More data does not lead to better decisions without context. Founders often focus on what they enjoy instead of what the business needs. Not knowing what “good” looks like creates decision paralysis. Gross margin problems make most growth efforts pointless. Too much inventory hides cash flow problems instead of fixing them. Cash flow issues often come from overstocking, not low sales. Bottlenecks show where effort will actually move the business forward. Financial clarity reduces stress and burnout for operators. Chapters 00:00 Why data doesn’t lead to decisions 04:30 The real cost of ignoring financial context 08:15 Why good data still creates confusion 11:10 The context vacuum problem 14:20 Founder archetypes and blind spots 18:05 Focusing only on what you’re good at 21:30 Why ecommerce is harder now 24:45 Inventory as a risky bet 27:55 The four stages of financial maturity 32:40 Turning ideas into priorities 36:00 Cash flow and inventory mistakes 40:10 Why too much inventory hurts quietly 43:00 Staying on the path to clarity 45:00 Where to find Nate and final takeaways Guest Info Nate Littlewood is the founder of Future Ready CFO, where he helps early-stage ecommerce and CPG founders bring clarity to their numbers and make better business decisions. His work focuses on using financial data to guide priorities like marketing spend, product strategy, and growth decisions. Nate has built and run his own ecommerce business, served as a lead mentor for a NYC-based startup accelerator, and spent nearly a decade on Wall Street before becoming an entrepreneur. Today, he works with founders through content, courses, and 1:1 coaching to make finance more accessible and reduce the risk of avoidable business failure. Nate Littlewood on LinkedIn If your numbers feel overwhelming instead of helpful, our CFO advisory team helps founders turn data into clear, confident decisions. https://link.ledgergurus.com/e25-rss

    46 min
  3. E24: How the Four Margins Explain Where Profit Disappears

    JAN 21

    E24: How the Four Margins Explain Where Profit Disappears

    Summary Stephen Brown, COO at LedgerGurus and host of the Ecommerce Finance Podcast, sits down with Stacy Walker, Director of Growth at LedgerGurus. They break down the four margins every ecommerce brand should be tracking and why most 7- and 8-figure sellers only understand one of them. The conversation focuses on why founders feel profitable but still struggle with cash and confidence in their numbers. This episode explains gross margin, contribution margin, net operating margin, and net profit margin in plain language. Stephen and Stacy walk through what each margin actually tells you, where brands get them wrong, and how bad data hides real problems. Listeners walk away knowing which margin points to pricing issues, ad efficiency problems, or bloated overhead. Key Takeaways Gross margin isolates product and inventory costs, so you can see pricing and supply chain pressure early. Bad inventory data makes gross margin look fine, while profit quietly erodes. Contribution margin shows what is left after selling costs and determines how much room you have to operate. Low contribution margin leaves no buffer for payroll, software, or growth mistakes. Advertising efficiency is often the biggest driver of contribution margin swings. Net operating margin reveals whether overhead is sustainable as the business grows. Payroll is usually the largest hidden drain on operating margin. Net profit margin can hide problems when debt, taxes, or owner expenses are mixed into operations. Chapters 00:00 Understanding Financial Margins in Ecommerce 02:41 The Importance of Accurate Profitability Tracking 05:36 Gross Margin: Definition and Common Misunderstandings 08:16 The Impact of Cost of Goods Sold on Profitability 10:55 Inventory Management and Its Financial Implications 13:48 Contribution Margin: What It Is and Why It Matters 16:38 Balancing Gross and Contribution Margins 19:26 The Role of Advertising in Contribution Margin 22:16 Operational Efficiency and Financial Health 25:44 Understanding Net Operating Margin 33:15 The Importance of Debt Management 39:10 Decoding Profit Margins 46:45 Cash Flow vs. Profitability 48:27 Scrutinizing Fixed Expenses 50:46 Final Thoughts on COGS Management Guest Info Stacy Walker on LinkedIn If you want clarity on which margin is actually hurting your business, our CFO advisory team helps ecommerce founders turn messy numbers into clear decisions. https://ledgergurus.com/ecommerce-accounting-services/?utm_source=RSS&utm_medium=podcast&utm_campaign=e24

    46 min
  4. E23: 2026 Ecommerce Finance Predictions

    JAN 7

    E23: 2026 Ecommerce Finance Predictions

    Summary: In this episode, Stephen Brown and Preston Alder discuss their predictions for the e-commerce landscape in 2026. They cover a range of topics including tariffs, interest rates, inflation, the rise of AI, the value economy, and the implications of a K-shaped economy. The conversation delves into the challenges and opportunities that e-commerce businesses will face, emphasizing the importance of execution excellence and inventory optimization. They also explore the potential risks associated with private equity in the current economic climate. Key Takeaways Tariffs are likely at peak levels but will stay elevated long term. Sellers should budget assuming current tariff rates do not improve. Falling interest rates may not reduce ecommerce lending costs. Inflation pressure still threatens consumer spending power. Consumers continue spending, even under economic stress. AI tools are already reducing labor and service costs for operators. AI-driven commerce may reshape how customers discover products. Ad costs may rise, but better targeting can lower acquisition costs. Execution and operational discipline will matter more than size. Brands that fail to adapt may not survive the next cycle. Chapters 00:00 Predicting the Future of E-commerce 02:13 Understanding Tariffs and Their Impact 04:59 Interest Rates and Their Implications 08:48 Inflation: The Consumer's Perspective 11:48 The Rise of AI in E-commerce 24:22 Navigating the Value Economy 30:08 The Importance of Brand Communication 32:24 AI and Employment Concerns 34:14 Emerging Channels in E-Commerce 37:14T he Future of Advertising 42:10 Winners and Losers in E-Commerce 46:05 The State of the US Economy 56:20 The Private Equity Bubble If economic pressure is making your numbers harder to trust, our ecommerce accounting team helps you see what’s really happening so you can plan with confidence. https://ledgergurus.com/ecommerce-accounting-services/?utm_source=RSS&utm_medium=podcast&utm_campaign=e23

    1h 2m
  5. E22: Grading Our 2025 Ecommerce Financial Forecast 

    12/23/2025

    E22: Grading Our 2025 Ecommerce Financial Forecast 

    Summary Stephen Brown, Founder of LedgerGurus, and Kelley Birrell, Marketing Manager at LedgerGurus, look back at the ecommerce predictions they made at the start of 2025. They review what actually happened across ecommerce growth, marketing costs, interest rates, inflation, and AI adoption. Each prediction is graded with real data and real-world operator context. They also unpack the biggest curveballs of the year, including tariffs, de minimis rule changes, TikTok Shop growth, and the limits of new ad channels. Stephen shares where he underestimated risk, what surprised him about consumer spending, and why 2025 felt harder than expected for many brands. The episode helps sellers think more clearly about planning for 2026. Takeaways Ecommerce returned to peak levels as a share of total retail sales.Marketing efficiency mattered more than chasing cheaper ads.Interest rate cuts did not meaningfully lower ecommerce lending costs.Inflation eased but continued to pressure consumer spending.Tariffs became the most disruptive force for ecommerce in 2025.De minimis rule changes reshaped dropshipping economics fast.TikTok Shop showed real growth but limited broad adoption.AI meaningfully reduced time and costs across teams.Supply chain risks faded compared to late 2024 fears.New sales channels added options but not replacements. Chapters 00:00 Ecommerce Trends and Predictions for 2025 03:27 Marketing Costs and Brand Strategies 06:16 Interest Rates, Inflation, and Economic Impact 07:15 Business Regulations and Tariffs 09:15 The Rise of TikTok Shop 11:18 AI's Role in Ecommerce 13:46 Supply Chain Complexities 14:31 De Minimis Rule Changes 16:00 Emerging Sales and Marketing Avenues Guest Info Kelley Birrell on LinkedIn Bio Kelley Birrell is the Marketing Manager at LedgerGurus, an ecommerce accounting firm serving growing online businesses. She built and runs LedgerGurus’ marketing engine, focusing on making complicated ecommerce accounting topics easier to understand so business owners can make better decisions with their numbers. If 2025 exposed weaknesses in your cash flow, inventory, or margins, LedgerGurus can help you fix the numbers behind your growth. https://ledgergurus.com/ecommerce-accounting-services/?utm_source=RSS&utm_medium=podcast&utm_campaign=e22

    23 min
  6. E21: VAT vs Sales Tax Explained for US Sellers

    12/10/2025

    E21: VAT vs Sales Tax Explained for US Sellers

    Summary In this episode of the Ecommerce Finance Podcast, Stephen Brown speaks with Oliver Blackmore from Elver Ecommerce Accountants about the complexities of VAT (Value Added Tax) for ecommerce businesses, particularly those looking to expand into the UK and EU markets. They discuss the differences between VAT and sales tax, the registration process for American sellers, common mistakes in VAT compliance, and the tools available for calculating and filing VAT. The conversation also covers the implications of selling on platforms like Amazon versus direct sales, the importance of understanding filing frequencies, and the challenges of navigating GST in English-speaking countries. Oliver shares insights on best practices for managing VAT refunds and offers recommendations for businesses looking to expand internationally. Takeaways VAT is a tax added at the point of sale, similar to GST.American ecommerce businesses must register for VAT to sell in the UK.The VAT registration process for overseas businesses is more complex.Amazon collects and remits VAT for sellers using their platform.It's crucial to keep sales from different platforms separate for VAT accounting.Businesses can reclaim VAT on their costs, improving cash flow.Late filing of VAT returns can result in significant penalties.Drop shipping has become more challenging due to VAT regulations in the UK.Understanding GST in countries like Canada and Australia is essential for international sellers.Businesses should consider their registration and filing requirements when expanding internationally. Chapters 00:00 Introduction to VAT and Ecommerce 01:34 Understanding VAT: Basics and Comparisons 04:25 Selling in the UK: Registration Requirements 06:10 VAT Registration Process for International Sellers 10:09 Penalties and Compliance for VAT 14:13 Common Mistakes by International Sellers 16:28 Tools for VAT Calculation and Filing Frequency 19:22 Expanding Beyond the UK: Global Marketplaces 24:28 Navigating GST in English-Speaking Countries 27:20 Common Pitfalls in VAT for International Sellers 30:40 Understanding VAT Returns and Refunds 32:54 The Impact of Brexit on International Trade 38:00 Final Thoughts on Global Expansion Strategies Work with Us https://ledgergurus.com/ecommerce-accounting-services/sales-tax/?utm_source=RSS&utm_medium=podcast&utm_campaign=e21

    39 min
  7. E20: How to Spot (and Stop) Fraudulent Ad Traffic Before It Drains Your Budget

    11/25/2025

    E20: How to Spot (and Stop) Fraudulent Ad Traffic Before It Drains Your Budget

    Summary In this conversation, Kurt Bell from Dash.fi discusses the innovative corporate credit card solutions offered by the company, focusing on their unique value propositions such as cash back incentives and ad pay protection services. The discussion highlights how these offerings can significantly benefit businesses engaged in digital advertising and shipping, ultimately leading to substantial savings and enhanced financial management. Takeaways Dash.fi specializes in corporate credit cards for digital advertising.The main value proposition is cash back and high limits.Ad pay protection is a complementary service to the credit cards.Businesses can save significantly on ad spend with Dash.fi.Incremental savings can reach 30-40K through ad pay protection.Cash back on ad spend enhances overall value for clients.Dash.fi targets companies with substantial digital advertising budgets.The combination of services provides a competitive edge.Understanding client needs is crucial for tailored financial solutions.Dash.fi aims to simplify financial management for businesses. Chapters 00:00 Introduction to Ad Refunds in Ecommerce 02:41 Understanding the Impact of Fraudulent Traffic 05:31 Navigating Refund Requests with Meta and Google 08:08 Identifying Bad Actors in Ad Traffic 10:55 Trends in Ad Spend and Diversification 13:21 The Evolution of Payment Methods in Advertising 16:15 Emerging Advertising Channels and Strategies 18:59 The Future of AI in Advertising 21:37 Leveraging Cash Flow for Ecommerce Success 24:31 The Changing Landscape of Ecommerce 27:06 Dash.fi's Innovative Solutions for Brands 34:06 General podcast ad.mp4 Guest Info Dash.fi Kurt Bell on LinkedIn Bio Kurt Bell is the Director of Enterprise Sales at Dash.fi, where he helps businesses access innovative financial solutions to drive growth. With a strong foundation in business and leadership from Weber State University and experience mentoring teams in the Dominican Republic, Kurt is passionate about building lasting client relationships and delivering impactful results. Work with Us https://ledgergurus.com/ecommerce-accounting-services/?utm_source=RSS&utm_medium=podcast&utm_campaign=e20

    35 min
  8. E19: Why Most Founders Operate Blind (and How to Fix It with Strategic Finance)

    10/29/2025

    E19: Why Most Founders Operate Blind (and How to Fix It with Strategic Finance)

    Summary In this episode of The Ecommerce Finance Podcast, Stephen Brown and Mark Lupton discuss the intricacies of strategic finance in the eCommerce sector. They explore the importance of understanding exit strategies, aligning founder goals with business strategies, and the significance of long-term and medium-term planning. The conversation delves into the common pitfalls in strategic finance, the role of intuition in decision-making, and the necessity of financial planning and budgeting. Mark emphasizes the importance of identifying blind spots and bottlenecks in business operations and the need for continuous learning and adaptation in financial strategies. Takeaways Understanding what you want from your business is crucial.Aligning personal goals with business strategy prevents tension.Long-term vision should consider life stages and personal fulfillment.Medium-term planning focuses on enterprise value drivers.Prioritization is key in strategic planning for growth.Intuition plays a significant role in decision-making.Identifying blind spots can prevent costly mistakes.Financial planning should extend beyond the P&L to the balance sheet.Learning from budgeting helps improve future decisions.Smaller businesses can benefit from strategic finance practices. Chapters 00:00 Introduction to Strategic Finance 02:51 Understanding Exit Strategies 05:23 Aligning Business Goals with Personal Vision 08:02 Long-Term Planning and Vision 10:40 Medium-Term Planning and Strategic Finance 13:27 Prioritizing Business Growth 16:17 The Importance of Strategic Thinking 18:45 Avoiding Common Thinking Pitfalls 21:38 Navigating Growth and Leadership Challenges 26:37 Understanding Founders' Strengths and Weaknesses 28:44 The Importance of Measuring Progress 30:27 Bottlenecks and Strategic Planning 32:17 Annual Planning and Budgeting Essentials 35:46 Strategic Finance Beyond the P&L 38:27 Debt Strategies and Cash Flow Management 41:13 Learning from Budgeting and Forecasting 43:50 Applying Strategic Finance to Smaller Businesses 46:23 Common Pitfalls in Strategic Finance Guest Info Greenhouse Business Advisors Mark Lupton on LinkedIn Work with Us https://ledgergurus.com/ecommerce-accounting-services/inventory-consulting-for-ecommerce/?utm_source=RSS&utm_medium=podcast&utm_campaign=e19

    53 min
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Hosted by Stephen Brown, COO of LedgerGurus and co-owner of DTC brand Sole Toscana, this podcast is your go-to resource for mastering the financial side of ecommerce. Stephen and his team have worked with hundreds of brands through LedgerGurus which specializes in ecommerce accounting. Add to that his hands-on experience with Sole Toscana, gives him unique insights into the challenges and opportunities ecommerce businesses face. On The eCommerce Finance Podcast, we dive deep into the financial side of ecommerce. Any topic is open for discussion as everything you do in business has a financial impact. Be prepared to go deep with experts and brand leaders on a variety of topics with an understanding of their financial impacts. Join us as we bring you practical tips, expert insights, and real-world strategies to help you thrive with ecommerce. Tune in and transform your ecommerce business today!

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