SPOKANE, WASH., OCTOBER 20, 2015 – David Peterson, Executive Vice President and Chief Operating Officer of Goodale & Barbieri and Tom Barbieri, President of Goodale & Barbieri, together with Dakota Pacific, a John R. Miller Company, announced today they have completed the acquisition of the RLH building, located on the north bank of the Spokane River in downtown Spokane, WA.
The six-story RLH office building includes 100,000 square feet of office space and a 252 car parking garage. Major tenants include Red Lion Hotels Corporation, HomeStreet Bank, TransCanada Corporation, Mutual of Enumclaw Insurance, Wipfli LLP and Farmers Insurance. “When targeting investment opportunities, we look for experienced management teams operating sustainable business models, and we are pleased to have that in David and Tom,” said Lane Critchfield, Managing Director of Dakota Pacific. “Their history of development and management in the Spokane market is unsurpassed and the property fits our criteria well.” The RLH Building was constructed by Goodale & Barbieri in 1985, and the Company has managed it since its opening. “The location is ideal, and we know the property well,” said David Peterson, Executive Vice President of Goodale & Barbieri Company. “It’s a fantastic building and we’re confident we’ll continue to attract strong tenants.”
The RLH Building, 201 W. North River Drive, sits across the Spokane River from the expanded Spokane Convention Center and Riverfront Park. “The revitalization of the Spokane riverbank, with the upcoming $60 million renovation of Riverfront Park, makes this location so exciting for us as owners as well as for our tenants,” said Thomas Barbieri, President of Goodale & Barbieri Company. “We seek well positioned, well located properties to add to our portfolio, and the RLH Building is a perfect execution of that strategy.” Goodale & Barbieri Company will continue as property manager.
The Importance of Florida Roof Inspections for Homeowners
In the Sunshine State, maintaining your roof is paramount. The extreme weather conditions, including scorching sun, torrential rains, and powerful hurricanes, make regular Florida roof inspections a necessity. Here’s why:
Understanding Weather Damage
Florida’s climate is relentless. Constant exposure to UV rays degrades Roofing materials, while heavy rains and hurricanes can cause immediate, severe damage. Regular Florida roof inspections help identify and mitigate these issues early. By adhering to -, you can prevent costly damage and repairs.
Early Problem Detection
Frequent Florida roof inspections allow homeowners to detect minor issues before they escalate into costly repairs. Spotting problems early can save significant time and money.
Enhancing Home Value
A well-maintained roof is a significant asset. It not only protects your home but also boosts its market value. Potential buyers are more attracted to homes with roofs in excellent condition, thanks to regular Florida roof inspections.
How Often Should You Schedule Florida Roof Inspections?
To keep your roof in top shape, follow a strategic inspection schedule. Here’s what experts recommend for Florida roof inspections:
Bi-Annual Inspections
Conducting Florida roof inspections at least twice a year, ideally in spring and fall, ensures that you catch seasonal weather changes and address any arising issues promptly.
Post-Severe Weather Inspections
Florida is no stranger to severe weather. After hurricanes or heavy storms, immediate Florida roof inspections are crucial to assess and repair any damage swiftly.
Professional vs. DIY Inspections
While homeowners can perform basic visual inspections, hiring a professional for thorough annual Florida roof inspections is advisable. Professionals have the expertise to spot issues that might go unnoticed. For optimal home maintenance, experts recommend regular -.
Comprehensive Steps in Florida Roof Inspections
A detailed inspection involves multiple steps to identify all potential problems. Here’s what you can expect during professional Florida roof inspections:
Visual Inspection
Exterior Check: Use binoculars to examine the roof from the ground, spotting visible damage like missing shingles or sagging areas.
Interior Check: Inspect the attic for signs of leaks, water stains, mold, or insulation issues.
Detailed Surface Inspection
Shingles and Tiles: Look for cracks, curling, or missing pieces.
Flashings: Ensure the integrity around chimneys, vents, and skylights.
Gutters: Check for debris and secure attachment to the House.
Specialized Inspections
Moisture and Leak Detection: Use moisture meters or infrared technology to uncover hidden leaks and moisture build-up.
Structural Assessment: Evaluate the overall integrity of the roof, including rafters and trusses.
Benefits of Regular Florida Roof Inspections
Regular inspections offer numerous benefits, protecting your home and extending the roof’s lifespan. Here’s how consistent Florida roof inspections safeguard your investment:
Prolonging Roof Life
Routine maintenance addresses minor issues before they escalate, significantly extending the lifespan of your roof.
Cost Savings
Early detection prevents expensive repairs and potential structural damage, making Florida roof inspections a cost-effective strategy.
Improved Safety
Ensuring your roof is in good condition maintains the safety of your home’s interior, protecting your family from leaks and structural failures.
Energy Efficiency
A well-maintained roof improves your home’s energy efficiency, preventing heat loss in winter and keeping it cooler in summer.
Common Issues Identified During Florida Roof Inspections
Understanding common roof issues helps homeowners take proactive steps. Here are problems frequently detected during Florida roof inspections:
Leaks and Water Damage
Leaks, often caused by missing or damaged shingles, can lead to significant water damage if not promptly repaired. Homeowners often overlook the importance of -until it’s too late.
Shingle Deterioration
Over time, shingles may crack, curl, or dislodge, especially in Florida’s extreme weather conditions.
Flashing Failures
Damaged or improperly installed flashings can allow water to penetrate the roof, leading to leaks.
Gutter Problems
Clogged or damaged gutters can cause water pooling on the roof, increasing the risk of leaks and structural damage.
Moss and Algae Growth
These can deteriorate shingles and affect the roof’s appearance and functionality.
Maintenance Tips Between Florida Roof Inspections
Regular professional inspections are essential, but homeowners can perform maintenance tasks to keep their roofs in good condition between Florida roof inspections:
Keep Gutters Clean: Remove leaves, twigs, and debris to ensure proper drainage.
Trim Overhanging Branches: Prevent branches from damaging the roof.
Inspect After Storms: Perform a visual check for any obvious damage.
Remove Debris: Clear leaves or branches that may accumulate on the roof.
Frequently Asked Questions About Florida Roof Inspections
How often should I have my roof inspected in Florida?
It’s recommended to conduct Florida roof inspections at least twice a year, in spring and fall, and after any severe weather events.
Can I perform roof inspections myself?
While you can perform basic visual inspections, it’s advisable to hire a professional for thorough annual Florida roof inspections.
What should I look for during a roof inspection?
Look for missing or damaged shingles, signs of leaks in the attic, and any visible damage to flashings or gutters.
How much does a professional roof inspection cost?
The cost can vary, but on average, professional Florida roof inspections may cost between $200 and $400.
What are the benefits of regular roof inspections?
Regular Florida roof inspections help in early detection of issues, prolong the life of your roof, enhance safety, and save on costly repairs.
Conclusion
Regular Florida roof inspections are crucial for maintaining your home’s integrity. By adhering to a consistent inspection schedule and addressing issues promptly, you can ensure your roof remains in excellent condition, safeguarding your home. If you haven’t scheduled your next roof inspection yet, contact a professional roofing contractor today to protect your home from potential damage. To ensure the longevity of your home, it’s essential to prioritize -.
E-commerce is an exciting and rapidly growing industry, but behind the scenes, successful online selling requires meticulous accounting practices. With so many moving parts, from managing inventory to calculating shipping costs and handling multi-channel sales, understanding bookkeeping for ecommerce is essential for sustainable growth. This guide will cover e-commerce accounting essentials, including revenue tracking, cost of goods sold (COGS), taxes, and useful tools to streamline financial management.
1. E-Commerce Revenue Tracking: Organize Your Sales Data
The first step in e-commerce accounting is understanding and accurately tracking revenue. Revenue tracking is not just about counting sales but involves correctly recording each transaction, net revenue, and associated fees.
Separate Gross and Net Sales: Start by recording gross revenue (total sales) before fees and refunds. Then, subtract platform fees and any refunds to get your net revenue. This breakdown helps in accurately assessing your revenue health.
Multi-Channel Sales Consolidation: Many e-commerce businesses operate on multiple platforms, such as Amazon, Shopify, and eBay. To simplify, use ecommerce accounting software that integrates with each platform, like QuickBooks, Xero, or A2X. This consolidates sales data from all channels, minimizing manual entry and reducing errors.
Record Sales Tax Separately: Sales tax should be tracked separately from sales revenue. This will make it easier to handle tax obligations and ensure that you only remit tax collected, not additional funds.
2. Expense Management: Key Costs to Track in E-Commerce
Operating an e-commerce store incurs various expenses, from product sourcing to marketing, and correctly categorizing these is essential for understanding your business’s profitability.
Categorize Your Expenses: Group expenses into relevant categories such as advertising, shipping, warehousing, platform fees, and payment processing fees. Clear categorization gives you a better view of where your money is going and can reveal potential areas for cost savings.
Inventory Management and Expenses: Inventory represents a significant expense for e-commerce businesses. Tracking your inventory costs ensures you accurately calculate your profit margins and stay on top of stock levels. Software like TradeGecko or Ordoro can integrate with accounting tools for real-time inventory updates.
Shipping and Fulfillment Costs: Shipping costs can vary widely and should be tracked closely to understand their impact on your profits. Consider splitting fulfillment costs from other shipping expenses for greater insight, especially if you offer free or discounted shipping options.
3. Cost of Goods Sold (COGS): Accurately Calculate Product Costs
The Cost of Goods Sold (COGS) is the direct cost associated with the production or purchase of the goods sold by your business. Calculating COGS is crucial for determining gross profit.
How to Calculate COGS: COGS includes all direct costs of goods, such as product purchase costs, shipping to your warehouse, and packaging. To calculate it accurately:
Start with your beginning inventory at the start of the period.
Add all purchases made during the period.
Subtract your ending inventory at the end of the period.
Monitor COGS Consistently: Consistent tracking allows you to measure profitability accurately and adjust pricing if needed. Many accounting software solutions allow you to automate COGS calculations if you manage inventory correctly.
4. Cash Flow Management: A Lifeline for E-Commerce Success
Cash flow is the lifeblood of any business, and e-commerce is no exception. Effective cash flow management helps ensure you have the funds to cover expenses, reinvest, and grow.
Forecast Future Cash Flow: Create a forecast by projecting sales and expenses based on historical data. This is especially helpful in e-commerce, where cash flow can fluctuate with seasonal trends and inventory purchases.
Maintain a Business Bank Account: Keep personal and business finances separate by using a dedicated bank account for your e-commerce store. This will simplify reconciliation, make it easier to track cash flow, and prepare you for tax season.
Allocate Funds for Taxes: Earmark a portion of revenue specifically for tax payments. Tax liabilities are an ongoing obligation, and setting aside funds regularly prevents cash shortfalls when taxes are due.
5. Tax Compliance: Understanding Sales and Income Tax Obligations
Tax compliance is a unique challenge in e-commerce, especially for multi-state or international sellers. Here’s what you need to know:
Sales Tax Compliance: Each state has different sales tax regulations, and the “economic nexus” concept requires sellers to collect tax in states where they reach certain sales thresholds. Use tax automation software, like Avalara or TaxJar, to keep track of requirements and file taxes in multiple jurisdictions.
Income Tax Preparation: Unlike sales tax, which is collected and remitted to the state, income tax is calculated on your profits. Ensure that all revenues, COGS, and expenses are accurately recorded to calculate your taxable income. Many e-commerce businesses benefit from hiring a tax professional to navigate complex deductions and credits.
Keep Digital Records: Store receipts, invoices, and sales records digitally for easy access. Good record-keeping ensures you’re audit-ready and simplifies the preparation of tax returns.
Conclusion
E-commerce accounting may seem daunting, but with the right systems and tools, it becomes a manageable—and even insightful—part of your business. By staying organized, accurately tracking COGS, cash flow, and expenses, and using accounting software to automate processes, you can gain control over your finances and set your business up for long-term success. Accurate accounting allows you to not only comply with tax regulations but also make strategic decisions, capitalize on profitable opportunities, and steer your business toward growth.
If all those seem daunting to you, make it easy and automated with the help of
. The software helps you automate your accounting, track your inventory in real-time, get sales and profit calculations done for you daily. Check out https://www.connectbooks.com/ for more details
