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Ecommerce Accounting

Ecommerce Accounting - LedgerGurus Customer Testimonial By Beddy's

Betsy Mikesell, CEO of Beddy's3 min

Beddy's began when Betsy Mikesell got tired of making bunk beds and sewed zippers into bedding at her mother's house. It grew into a multi-million dollar brand selling worldwide, and with that growth came sales tax across dozens of states. Angie describes being close to tears over rules she didn't understand, and what changed once LedgerGurus took on the sales tax, the bookkeeping, and the reporting.

Transcript

0:09 How Beddy's started

I'm Betsy Mikesell and I am the CEO and inventor of Beddy's.

My name is Angie and I'm the CEO of Beddy's. Betsy brought me on when she thought of the idea for Beddy's.

Betsy Mikesell

Beddy's started because I had twins with bunk beds. If you've ever tried to make a bunk bed, it's impossible. Nobody knows how to make a bunk bed. I got frustrated enough that I got to the point where I took bedding over to my mom's house, bought the longest zippers I could find, some elastic, and we made our first version of Beddy's. I had enough friends and family, they're like, this is a great idea, I would want to buy this. And I convinced Angie to come along, and that is how Beddy's was born.

0:41 The sales tax problem

Angie

Beddy's just exploded with growth. We started small, like Betsy said, and then before we knew it we're a multi-million dollar company selling around the world.

And the thing that was really overwhelming for me so quickly, because of the growth, was the sales taxes. We didn't understand that every state has different laws. It's figuring out who collects and what their rules are, and so I'm spending hours and hours, which is taking me away from business things that I should be focusing on, and trying to do this thing that was so intimidating to me because I didn't understand it. Every day I would just be on the verge of tears because I didn't know what I was doing.

1:22 What changed with LedgerGurus

Angie

When I talked to Brittany at LedgerGurus, I just remember feeling like I could see a light at the end of the tunnel. And I know that sounds so cheesy, but it took this huge weight off of my shoulders.

Hiring LedgerGurus helped us with our sales taxes, then I had the peace of mind that they're being done correctly. Not only that, but they helped us with our reporting, our bookkeeping and everything, so that I have confidence when we're giving someone a P&L or a balance sheet, it's good and it's exactly where we should be. The numbers are spot on.

Betsy Mikesell

But one of the best lessons I learned is to work on your business rather than in your business. And that's where it's so important to hire people who are good at what they do. Specifically, I remember watching Angie and she was trying to do all these sales taxes and bookkeeping, and it's so important, but there were so many things that she could have been spending her time in other areas. So hiring LedgerGurus relieved us of these stresses.

2:09 Why one firm instead of many

Angie

There's no way that we can afford someone who specializes in sales tax, another person who's specialized in inventory, ecommerce, bill pay, all the other things that LedgerGurus offers us. So we get everything with one company, and that has really helped us be able to afford top-notch financial care.

Whenever I have a question, I know exactly who to contact and I get an answer quickly, and I'm confident that the answer that I'm getting is correct. And that just gives me peace of mind that we're running our business as best as we can.

I'm not just saying this, but hiring LedgerGurus might have been one of the best decisions we've made to date.