WSW Revenue Recognition
===
[00:00:00]
Dan DeLong: welcome to another workshop Wednesday, brought to you by school bookkeeping.com. This is take two on an attempt to talk about revenue recognition, the features and QuickBooks online, and all, the other things. If you joined us last week, I'm sorry [00:01:00] Internet issues.
. We, don't know what happened, whether it was the streaming platform that we're using, or it was our internet issues, or network connection, or whatever. Hopefully it's much better. If you are, attending, if you're watching, let us know in the comments of whatever streaming platform that you're looking at, whether it's LinkedIn, YouTube, or on our website.
Susan, is it
Carrie Kahn: better than last week?
Dan DeLong: Yeah we need to, know.
Carrie Kahn: We'll try again. If we have to do take three we'll, we're all for it.
Dan DeLong: We'll try it again, but everything seems to be looking good on our side. We just don't know how it's looking on your side. So please let us know where you're listening from or watching from and whether or not we're good.
So let's, go. Okay. All right. Chop, chop. All right. You are heard, Carrie, she says.
Carrie Kahn: I have a lot of good stuff to say. I have a lot of good stuff to say.
Dan DeLong: [00:02:00] Yeah you were like on point last week and sorry that we missed it up with with the internet. Interwebs, but that's unfortunately the side effect of doing something live on the web.
Yes.
Carrie Kahn: Oh we got it now. I think I have even more stuff that's even better. So we're good.
Dan DeLong: Oh, got even more to say. Yes. So let's talk. Let's talk a little bit about what revenue recognition is, since you're a CPA, Carrie, you are the expert in this. Yes. I was always thinking like revenue recognition, are you like walking down the street and here comes 20 and you go, Hey, I know you, you look like revenue.
Is that what revenue
Carrie Kahn: recognition is? No, I wish it were that easy. No, it's, so I wanna back up and define accrual accounting. It's not accrual world, it's cruel, A C R U [00:03:00] A L. So when you start your business, people say, do you wanna be cash or accrual? And to be cash basis is basically your checkbook, if that's all you're running.
As soon as you write a check, you expense it. You might be writing a check for something that happened last month. Somebody may be paying you prepaid support that's going to be done in the future. So revenue recognition is around that metrics. If it's, if your cash basis, you're going to record that revenue before you even do it.
It's not gap. We don't like it. So accountants really love accrual accounting for two reasons. One is
When you look at your monthly financial statement, your income is only income that you earn in that month. And expenses are only expenses you actually That were happened in that month payment is this irrelevant factor So it's a better way to [00:04:00] manage so, you know from month to month. Am I making money?
Am I losing money if you do cash basis? You might have all of a sudden you've got all this income, but you haven't actually done it yet So that's where into it is trying and i'm using the word Trying because we Figured out that it doesn't do it the way we want it So there's so so revenue recognition is basically when the money comes in You're going to put it on your balance sheet.
You're going to put it in an account. They like the word deferred revenue You're just going to put it in your liability because you owe that out might not be like a loan you owe that time That, that you owe somebody, they paid you and you haven't done your part yet. So you got to, you don't want to call it income yet.
Dan DeLong: Let's back up a second. Cause I want to make sure that we're are, we're separating the term of revenue recognition to recognizing revenue. [00:05:00] Which as you were talking about cash, versus accrual, that is something that. When you recognize the revenue of the work of a sale.
Carrie Kahn: Yes, the sale would be recorded the day you receive the deposit on a cash basis accounting soft, a cash basis accounting method. You're recording the Income equal to the day you get the money as well as an expense equal to the day you get the money and for some people like restaurant that may work fine, but services and lawyers and I don't know who else does prepaid retainers and stuff like that.
It's complicated.
Dan DeLong: In terms of your. Whether you're using a an account receivable or accounts payable transaction type, right? I invoice somebody and then later they're going to pay me. Yes. [00:06:00] And and that's, where you're talking about versus cash, versus accrual.
If you, invoice somebody. Today and then next month they pay you. When do you recognize that on a cash?
Carrie Kahn: And that's simpler idea where you invoice someone you want to invoice you want the invoice date that you know We all use quickbooks you want the invoice date to equal the day the work was done Whether it's paid or not is irrelevant and then it lands in your accounting software and in your reporting That it's income the day that it's done.
That's actually when it's When you recognize your 20 bill walking on the street. So in a simpler times You can use accounts payable tool to make your expenses fall in the correct month by the date And the same tool with your invoices you use the date that you actually Did the work or you made the sale somebody might you know, buy something from you want it to be the day [00:07:00] that they actually say I want that whether they pay for it or not is different Remove that.
Dan DeLong: Yeah. Yeah, and then we talked to we did another workshop about Handling retainers and those types of things where that's a whole nother workflow when it comes to okay the money on a retainer or a pre deposit has actually been deposited, but that's not revenue.
That's not a revenue producing activity because to your point, you haven't done any of the services yet. So that's And that's not what we're talking about with revenue recognition. What we're talking about with the feature, and I'm using it in air quotes here the feature is inside of QuickBooks.
And I know because it's in QuickBooks online, you hate it.
Carrie Kahn: No, I like the concept, but what people need to understand is what it's meant for. So we have two. Nice [00:08:00] examples for school of bookkeeping and our accounting that we can explain out on our accounting companies that we can explain how it works and how it doesn't.
Dan DeLong: So what we're talking about with revenue recognition is is, a feature inside of QuickBooks Online Advanced. So that's, one caveat is that this feature is only in QuickBooks Online Advanced. So tough luck if you're using plus or simple start or right. But the, but you wouldn't have these kinds of activities or the, concept or the mindset would be a, this is more of an advanced functionality when it comes to the accounting side of things, because the, situation in this regard is I sold something.
And I want to, spread that [00:09:00] out across a period of time as far as recognizing the revenue. So a quick an under an example of that. Yeah, go ahead. A good example. I'm tongue tied.
Carrie Kahn: I have a really good example. So let's say you, okay. So I just got back from scaling new heights and everything is subscription.
Now everybody's going to subscription model. Think about this. If somebody. Somebody's paying by the month for whatever it is. That's easy, right? But let's say you offer 10% off if you pay for the year. That gives you a burst of cash flow But really you want to spread that income across 12 months.
This is where it works beautifully. So you sell an annual subscription i'm going to just say twelve hundred dollars and a monthly subscription is a hundred So monthly works great. But if you turn on the revenue recognition And you click the button, it will spread that [00:10:00] out divided by 12, 100 each month.
It works beautifully. It knows you just tell it which accounts and it puts, it has the balance of your deferred income. It goes ahead and does it all for you. So the whole year is ready to go. You don't have to think or look at it again. That works great. But yeah, but
Dan DeLong: it's a big, but yeah. So
Carrie Kahn: there are times.
When you don't want, you don't want to do this and so do this not dues and subscriptions. That's the expense side, but for when you're selling membership fees and you have the annual versus monthly, I think this is a perfect way to manage the revenue and not get yourself all excited. Oh 12, 000 in revenue.
Guess what? Those are really 12, 000 in revenue really should be a thousand dollars. A hundred.
Dan DeLong: Why would you want to do? Why would [00:11:00] you want that? To do that, if I sold it, if I sold a 12, 000, a 1, 200 subscription today, why would I not want to recognize the revenue all in the day that I
Carrie Kahn: sold it?
Because you're actually going to perform services for them. I don't know which kind or what, or they'll have access to your learning portal. Or you'll be on call an hour a month, whatever deal you've come up with. You haven't performed those services for the year. So if you jam it all in January, it makes January look really good.
And then the next month you're depressed because it's gone back into.
Dan DeLong: So with, we don't want depression, we don't want to
Carrie Kahn: work hard to lose money. So what'll happen is you've got all these, months that are not making sense. And when you go to compare last year to this year. You really want it to be 1, 200 instead of 12, 000.
Did I do my math right? A thousand. A [00:12:00] hundred a month. Yeah, a hundred a month. So you have 10 subscriptions you sold.
Dan DeLong: You've got some decimal problems there. You keep doing 1, 200 and 12, 000. So you sold
Carrie Kahn: 10 subscriptions at 12, 000. But your income is really, 10 times, a hundred, a thousand. So you've overstated your income by $11,000.
Everybody's gonna say, wow, you did so great. And then you have to perform whatever they've signed up for. You have your staff doing whatever, so you still have to do the work for whatever it is. If you're an accounting firm and you budgeted 10 hours, you have 10 hours, you owe them whatever it is.
Dan DeLong: Or like a gym, right? Like the gym stays open, the lights are on. Yes, from your overhead. It makes sense to spread the revenue across those 12 months so that you can see on a monthly basis as opposed to an [00:13:00] annual basis. The
Carrie Kahn: expenses attributed to that subscription Are going to be on a you could have that differently, but you generally have those fall on a monthly basis.
So it, looks, it makes January look really, good. And then February is a disaster, but you still have this expenses. If you didn't sell any, you're like, wow, I still have my overhead. So it's a proper way of doing accounting so that we're looking at a period of time to see how you're doing the month of XX, whatever it is.
That's the purpose. All right,
Dan DeLong: works. So let's talk about let's, show in QuickBooks online advanced or online accountant, right? Because if you're an accountant and you're using QBOA, you have the advanced functionality inside of your, books. So you can actually try this feature out and, see how it goes, but there's, some setup.
Ahead of time and some caveats. And then we'll, talk about the yeah. Buts [00:14:00] about it when we get to that point. But let me go ahead and share my screen. Alright. So
Carrie Kahn: should be looking I'll say some other examples. So let's say you are selling like QuickBooks online through your, did the accountant channel get.
Annual or only monthly?
Dan DeLong: I wasn't paying attention to your question. What was that?
Carrie Kahn: QBO when you sell it to a customer do they oh, it's only monthly never mind. So it's not yeah, never mind I was thinking if they were okay selling it annual and then I mean they could actually sell it to their customer and pay for it monthly You would want to spread that across Because the customer doesn't care how they pay.
So same idea you're Looking for it monthly. So you want the you want to recognize the revenue over the 12 months? All
Dan DeLong: So inside of [00:15:00] inside of QuickBooks online, you go to your expense your account and settings, right? And under sales, you're over here on the left side under products and services.
Woo. You got to drill down to even find it. And then there's this tiny little thing here. It says revenue recognition. You can click on the edit pencil and, then ask and, then it's just a check. Not a checkbox, but a little slider, turn on or off, right? And then you have this option here of the frequency, monthly or monthly.
Monthly or monthly. I assume there's other options in there. I may have and that's one of the yeah buts about this is once you cross over the threshold of turning something on here it's the tire track thing at the garage. You can't go back without severe tire damage.
So sometimes it's easier to set, some of these things up, but then making changes or if you realize, Yeah. Oops, I shouldn't [00:16:00] have done that. Then you may not be able to change it, but here we have our, only option is, to set it up that your revenue recognition is, monthly and then you hit save.
The next caveat of all of this is to set up a, product and service. And in this regard setting up something as a revenue recognition it has to be a, So if I tried to set up a new non inventory item, I do not have any options in here about
Carrie Kahn: revenue recognition. So that's good.
Dan DeLong: This is not, this is a non inventory part.
I
Carrie Kahn: know there shouldn't be a part, any reason you should divide that by 12. So good job. I'll give into it a hand.
Dan DeLong: That's right. A bonus Yay. For, that, because, [00:17:00] and the reason I bring this up is that I had originally set up some, items that were non inventory that I wanted to turn this on for.
And. Guess what? I couldn't turn it on, right? I had to turn them into service items in order to actually see it. So when I go to create an item that is a service, now I have this checkbox here for, revenue recognition where I can recognize the revenue for this product monthly.
Yes, and then when I by checking that I now have my liability account and why is it a liability account?
Carrie Kahn: So it's a liability to you because you haven't done what is necessary for you to call that income You owe the time
Dan DeLong: Liability as we know is what you owe as a business and in this case you owe them goods and services or services, and we're not talking about goods because we've determined that this [00:18:00] is only a service
Carrie Kahn: you buy a chair.
And it's a chair. The sale is that day, that month, not over 12 months. No goods. I appreciate you
Dan DeLong: having
Carrie Kahn: the Do you like the little child's here, the example? Here's your goods. You can't spread this over a year.
Dan DeLong: So I have the option there to check this off and I can put it to whatever liability account I want to oddly enough, it gives you the choices of other, income and expense accounts, even though it's a liability account.
Yes. But. We all know just because you can do something doesn't mean you should so you want to use the liability account here and point it to whatever chart of accounts you want to track that to.
Carrie Kahn: You could change the name, how you need, how you see fit, but that's,
Dan DeLong: yes, and then you have your interval, which again our, choices are limited to monthly because that's, pulling it [00:19:00] from the setting which I think you might be able to choose different options when you initially set it up.
But once again, once you say it's monthly, then everything else is monthly and then how long,
5697130-1689786099249_restream: yeah,
Carrie Kahn: so it should. And they, should, honestly, it really works well with this model where they should have gone ahead and said 12 and months. So you don't overthink it.
Dan DeLong: And then you want to put in the, service duration here.
Now, I think I had set this up last week and I forget which which item. Whoops. Here we go. My type service. Do you remember what? Oh, annual subscription. There we go. That's the perfect example. That's the one that we used last time. We recognize the revenue recognition we put in the 12
Carrie Kahn: months.
And you might want to change that income account to something you can see that's not just a [00:20:00] plain old service. It's something like monthly subscription or.
Dan DeLong: Now you're making me do work or
Carrie Kahn: whatever just call it subscription sales
Dan DeLong: Okay
Carrie Kahn: There you go, and then it's not a discount refund given so you need to fix that detail type To just price sales of yeah, there you go Perfect.
So there you
Dan DeLong: go. Does that meet your, does that meet your approval? It sure does. Okay. We have the serial of approval. Yes. From Carrie. So, then when you create the invoice for said annual subscription I'm going to choose this customer. Shouldn't have chosen that customer because they got other stuff thrown up here and I'm going to sell them an annual subscription.
That's 1, 200, so we're using that easy, math. [00:21:00] Yeah, it's time. Yes. That was a bad, example there. All right. You take back your seal of approval. It's
Carrie Kahn: fine. No tax. Taxability. Although, location we have, that's why we. Yeah. It's another topic. All right. So we're keeping. So if I just,
Dan DeLong: if I just save it, if I just save it like that so it's a days date and I just try to save it like that.
Oops. We got a, something's not quite right. You have to enter a service date. For the revenue recognition line item, right? So that's a that's this field here So if you don't have this showing on your invoices on the screen you'll get this message when you when it comes up So you do have to put in the service date and this is the service start date And essentially of this annual subscription so that It will be able
Carrie Kahn: to start today unless it doesn't start till August 1st, but I today would work this example, [00:22:00]
Dan DeLong: right?
So then I save it again. Then save now. What happens here is now we have this little, not drama yet we're still at the functions. So now we have this little hyperlink here of the view, the recognition. And by clicking on that, as I clicked on it and nothing happened. It's hold on. There it goes. It had to think for a second, right?
So now it gives me this option here of. Oh, what,
Carrie Kahn: what? Look at how it, so just so you see that it's rounding it to the end of the month.
Dan DeLong: Yeah. So it'll rev recognize the revenue on the date of, on the end of each month after the serer. The service start date has occurred right in the month that it occurred.
So this happens in the first, it will recognize the revenue at the end of the month. Isn't that when you would normally make these journal entry adjustments [00:23:00] if you were doing 'em manually?
Carrie Kahn: I would probably do the 19th of each month, but I'm wondering what Susan would do, but as long as it falls in the month and your end result is similar, that's fine.
Dan DeLong: Yeah unless you're doing like a weekly profit and loss, that could be some, that could be some challenging challenges there, but it's important to know. Yeah, it's,
Carrie Kahn: I just wanted to highlight that if you needed it to say the 19th, then what if you're looking at your sales week to week?
Dan DeLong: You, had that disappointment
Carrie Kahn: Oh
I was actually expecting that date to be tied to the date of the invoice and the service. Oh, the service date. Got it.
Dan DeLong: All right. So it does show what the schedule of the revenue recognition is. So you get an idea of what will happen. And when it will happen, right? Because nothing will happen at this point because when you have chosen the [00:24:00] the item and you're recognizing the revenue and the service deed and what not.
We'll take a look at the transaction journal on the, in the back end here. We'll see what accounts are being impacted when it decides to show up. There we go. Gonna switch to classic view. As we do yet for the reporting, so they are, there's our accounts, receivable because it's an invoice, deferred revenue immediately.
So this, sale does not impact the profit and loss yet, right? Because it put everything to deferred revenue or whatever your liability account is that you specify. In your in your item, setup, regardless of whatever the sale is or the sales account or the income account on the item, [00:25:00] that won't show here until the revenue recognition entries are made.
And we know now that's going to happen, that's not going to happen until the, to the end of the month. So
Carrie Kahn: you could do a P& L and then do a, have a total by month and then you can see that hundred go across. And do it year to date. But
Dan DeLong: I won't see it until that date actually happens.
Carrie Kahn: Yeah, but show them how it's there.
Because it's there. It's all recorded. There's nothing else to do. And then the, yeah, that's our
Dan DeLong: You're saying that I should run a profit and loss for 2023,
Carrie Kahn: the whole year
This, calendar this
Dan DeLong: This,
is up here. Okay. Yes, that calendar year total by month.
Carrie Kahn: Yeah. And then you should see our sample go down and see the hundred. [00:26:00]
Dan DeLong: Yes where it's not even here, right? Because my income is, it's not, right? This is why it doesn't work until that date has passed. So it actually doesn't make these entries.
They did the
Carrie Kahn: journal entries. They did the journal entries and you clicked the thing and it showed it. It did? Yes. Go into your, go to chart of accounts and deferred revenue. Maybe it just put it back to itself and it's a, it's an accounting thing. Go to chart of accounts. Go to the register of deferred income deferred revenue and let's see what happened because it should be Yeah, it's showing the balance unless that's some old stuff.
Dan DeLong: Yeah, that's that was last week's attempt, right? At doing this right at of the sale that we did last week. It's exactly a week ago and then This, week's one, right? So it's, [00:27:00] only recognizing it from the date of the invoice, the schedule, right? If I go into the transaction and look at the schedule of the revenue recognition, doesn't show up until these.
Dates have actually occurred. And then what will happen. What, is that? What will happen is as these dates pass, right? 7, 7 31, this will turn into a hyperlink. So you will see that these, it gives you an idea of that that these have these have occurred and you'll be able to see the revenue recognition report.
These, are nebulous. Journal entries that are going to be made by this feature, right? So you cannot modify them This is now we're getting into the yeah, buts about this. You cannot modify a journal entry that has been made by [00:28:00] the revenue recognition feature you can At best, see it on a report, but you won't be able to make any changes to it.
It's like one of those things about inventory or the inventory items tracking that's, in QuickBooks, like a starting starting value. You can't change those, some of those things about, some of those transactions. Those are special type transactions. This is now one of those things.
As the date passes, you'll see these entries being made. You'll see them on, the books. But then, you won't be able to see in the future until they've actually occurred. And you can't make changes to them. Yeah, those
Carrie Kahn: are the yeah, I don't like any of that at all. I think that if they went ahead and posted all those journal entries today so that it tied down, I'd be happy, but they don't.
So it's up to me. Let me, what if somebody, it's just too much room for, I like [00:29:00] that concept, but there's no ability to use my brains to make sure this is right. And there's nothing wrong with post dating those stuff.
Dan DeLong: If you're trying to plan. Yeah, trying to maybe a good idea to to, have this play out. So there may be some accounting philosophy behind that.
But as of today, and this may change tomorrow. As of today this is the way this works. That was an, internal dialogue that came out. Whoops. So now there's, and this is another one of those yeah buts, right? If if you set this up, and I'm just saying this hypothetically if you set this up for something that really should have been more of a, deposit.
As the work is done [00:30:00] more on a piecemeal type of thing. Revenue recognition is not revenue recognition is not a good feature because of. These kind of tire track things, right? Once you cross over this, you can't undo it. So we've we've determined that we, did something wrong with with this revenue recognition feature.
And And we want to back it out. You cannot, once the schedule has started it's, this train is getting to, this train is going from LA to New York and you cannot stop it in, St. Louis anywhere, right? So it's, gotta, we gotta wait for that to, finish in order to do that. So now we've created a huge mess.
We've created more work for ourselves to, to undo it this way. Because this train is, we have [00:31:00] to wait until the train gets to New York to,
to disembark from a revenue mechanism. It looks like an easy
Carrie Kahn: product to use with this feature turned on.
Know what you're getting
Dan DeLong: into. It's, there, right? And, this is just one caveat of all of the things that you could potentially be doing with with this type of thing, right? There's, an expense side of all of this where you do the same thing where like you're paying for your business is paying for annual subscriptions because that is I'm going to stop sharing here.
How do I turn that off? Oops. Turn it off for me, Landon. We clicked on it at the same time. Thank you. So we have the expense side of all of this [00:32:00] as well. So there's Expense recognition. What is the, accounting term for, that where, you've paid your your insurance or any of your technology that you want to spread
Carrie Kahn: out?
My term is usually prepaid expense and it's defined as something that, like you're talking about, let's say you're paying a policy that covers the year. If you put that in the month of November your, income's not going to offset that 12 month expense. So I put that in an asset account cause I've prepaid it, I've invested in it, but I'm going to expense it over the year.
And the way I like to do it old school. Is when I post that liability the insurance so to speak I go ahead and enter in those 12 entries so that particular item is zeroed out for the month. I spread it across the 12 months And you know [00:33:00] some things are just for a quarter you're paying for a quarter, but you're paying You know a thousand dollars, but it's really for january february march.
You want to spread that out So things that occur just what like we depreciate assets We might buy a computer that lasts over five years, so we don't expense it all in one year on the books and not going into tax laws. We divide that expense over five years, so it's not as much of a hit on your books when you're going to review things that you've done to make sure you're profitable, because that's the name of the game.
Dan DeLong: So as this might be good for revenue recognition and Revenue producing activities where you do that on an annual basis. You want to spread that out the expense side of things of what you're talking about Not an option. I don't know. That's a kind of a yeah,
Carrie Kahn: but right. So that, so just to put the balance sheet thing that everybody gets foggy on.
If, someone pays you money and you haven't [00:34:00] finished the obligation that goes in a liability account, it's either prepaid. Block of time subscriptions that goes to liability because you haven't performed the services. So you owe somebody something when you pay a vendor for something that covers you for 12 months.
That's Or a quarter or whatever it is, but something more than a month you put that in your prepaid expenses and you could get real granular if you want to do a sub account for your insurance and your whatever the membership fees, because you have membership too and you may get a discount. If you're paying for something ahead of time and you're like, why is my month of November so bad?
It's because you didn't divide that out by 12 months
Dan DeLong: So, as right as we're talking about revenue recognition, this feature does not work with it with expenses. I did a QuickBooks power hour, with ash. He's a [00:35:00] uk Accountant that created an application that does do these things, right?
So this solves for The people that are not in advanced, the people that are in advanced, but this doesn't work for and the people that are are needing to track things like you, you mentioned depreciation depreciating. I can't
Carrie Kahn: say anything. Assets that
have a useful life more than a year. Assets that have a useful life that's more than a year get depreciated. You're not going to do this paperclips. That's just going to go in a bucket. We don't care. That's just minor expense, but
Dan DeLong: they may last more than five years, but they,
Carrie Kahn: they do, they come out of nowhere.
When you don't need them, you have a hundred of them. When you need them, you can't find them, but you don't depreciate that. And you don't expense that over a period of time, but [00:36:00] something that is really clear that like you get a piece of paper and you're paying for something that gives you the coverage and it's more than a month, that's when you want to.
Go and do special accounting to make your books make sense. You need your books to make sense so you can make management decisions. So that's the ultimate end goal.
Dan DeLong: So if you want to check that out that is that is an option for you as well in school bookkeeping we're, gonna talk about some of the things that we, just unpacked here today in our.
QBO advanced core that out as well as all of the other cool features inside of QuickBooks online or the, yeah, but features as Carrie likes to say, if you do want to set up a trial for, QuickBooks online, we do have a discount link there. Just take out your phone and scan the QR code. Pretty cool technology that we've got here in the workshop.
If you want [00:37:00] to Be notified of when we do go live and it's not a, an internet debacle like last week. We did. You can register for our YouTube channel or subscribe to our YouTube channel. You get notifications when we go live in the future. Again, I appreciate you all joining us today and Carrie always lovely to see you even when you're out of uniform.
Carrie Kahn: Yeah, sorry about that, but hey, at least hopefully the internet debacle is over, out of uniform, better than no internet,
Dan DeLong: better one, better two. That's right, three musketeers here. Thanks. Thanks, Susan. So we'll see you next week on the workshop and Talking about next week in the workshop. We're actually going to start another series. This one is going to be on e commerce fundamentals, right? So we're, gonna we'll have a guest Rachel Dow.
She will be [00:38:00] joining us. So she's an e commerce specialist and and she'll be talking about some of these things to know about. e commerce and maybe why it's a nuance. Yeah. And either, hey, I want to take on that e commerce client or no, I'm going to run screaming because they deal with inventory or sales tax or all of the above.
So we will see you next week on the workshop and you guys have a great week.
Carrie Kahn: Have a great week. Thanks for joining.
