The Silent DTC Brand Killer - Jacked Up Bookkeeping

In this episode of ‪@FreetoGrowCFO‬ Podcast, host Jon Blair sits down with Lio Pinchevski, founder and CEO of Finaloop, to dive deep into the challenges of managing inventory and bookkeeping for e-commerce brands. They discuss the importance of accurate and timely financial reporting, the difference between cash and accrual accounting, and the complexities of inventory management in the e-commerce world. With a unique background as both an accountant and an e-commerce founder, Lio shares insights on the complexities of managing finances for consumer brands and introduces the innovative solutions Finaloop offers. Tune in to gain valuable insights on optimizing your financial infrastructure for growth in the e-commerce space.

Key Takeaways:
-Discover the financial blind spots DTC brands often face and the risks of using outdated accounting methods.
-Learn how automated accounting solutions can provide real-time financial data to improve decision-making.
-Understand why accurate inventory tracking and cost management are crucial for avoiding
costly stockouts or overstocking.
-Gain clarity on the different roles of
accountants and CFOs, and when to bring in
specialized financial expertise.

Episode Links
Jon Blair -   / jonathon-albert-blair  
Lioran Pinchevski -   / lioran-pinchevski-78807529  
Free to Grow CFO - https://freetogrowcfo.com/
Finaloop - https://www.finaloop.com/

Meet Lioran Pinchevski
Lioran Pinchevski is the Founder and CEO of Finaloop, the leading ecommerce accounting and inventory solution that combines software and expert services to deliver real-time financial data and insights for multi-channel DTC brands. And if you wonder how he ended up starting an accounting startup for DTC, it might be helpful to know that he is a tax lawyer and CPA who also founded his own DTC brand before—speaking of putting your hands together... A former lecturer at Tel Aviv University, Lioran, who acquired degrees in Accounting and Law from the universities of TLV and Michigan with top honors, left his position as Partner at PwC to start Finaloop. You can't make this shit up.

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00:00:00 - Introduction and Background of Lioran Pinchevski
00:03:03 - The Importance of Solid Bookkeeping
00:08:56 - Developing Financial IQ and Vertical Expertise
00:23:47 - Accrual Accounting for Measuring Margins
00:30:35 - Separating Tax Accounting from Financial and Managerial Accounting
00:32:26 - Accrual Accounting and Tax Books
00:41:32 - Challenges of Sales Reconciliation
00:25:22 - Navigating Inventory Accounting
00:38:06 - The Difference Between an Accountant and a CFO
00:57:29 - Final Thoughts