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Bright Minds of eCommerce Podcast

Bright Minds of eCommerce Podcast

Why you can't trust your Shopify numbers for a profitable eComm store, with Jaimie from Bloom Money

Jul 31, 2026 · 28 min · 14 segments

Jaimie from Bloom Money joins me to talk numbers, the kind most eCommerce owners avoid until tax time forces their hand. We get into why Shopify and Xero never seem to agree, the GST mistake that once…

Jaimie from Bloom Money joins me to talk numbers, the kind most eCommerce owners avoid until tax time forces their hand. We get into why Shopify and Xero never seem to agree, the GST mistake that once cost a business three hundred grand in ad spend, and how to actually plan a Black Friday sale using real figures instead of a guess and a prayer.

Jaimie from Bloom Money joins me to talk numbers, the kind most eCommerce owners avoid until tax time forces their hand. We get into why Shopify and Xero never seem to agree, the GST mistake that once…

Spotify Apple Podcasts YouTube Website

Speakers: JaimieGuestDahna BorgHost

Top entities: Shopify×18 Goods and Services Tax×23 Facebook×15 foreign exchange market×4 Xero×17

Show signals: SuitabilitySafeBiasNot politicalAudience≈2k followers

Cold-open GST mix-ups on ad spend0:00 – 0:47

J

JaimieGuest

0:00

They had like 300 grand of ads and it was a huge, huge GST things, making sure like your GST on your Facebook and your ad, like the ad platforms is being accounted for correctly.

0:12

If you don't put your ABN into

J

JaimieGuest

0:14

Facebook, so you don't get the claim.

J

JaimieGuest

0:16

And I've seen people do that.

J

JaimieGuest

0:17

They assume, well, the bookkeeper doesn't really know anything about Facebook, assumes it's an American company, goes GST free, but then the client hadn't put the ABN in.

J

JaimieGuest

0:27

If you Do put your ABN and you are

0:30

GST registered.

0:31

They don't charge you GST.

0:32

If you don't put it in, they do add you GST.

0:35

It's not clearly explained

J

JaimieGuest

0:36

to anyone.

J

JaimieGuest

0:37

That's kind of why we have to look at the tax invoice, which is also really hard to find.

J

JaimieGuest

0:43

So we had to go back and amend all the buzzers and then get that freedom.

ShopifyCompanyE-commerce company
97%18 mentions
Goods and Services TaxEntity
90%23 mentions
FacebookSoftware ApplicationSocial networking service
83%15 mentions
foreign exchange marketEntity
77%4 mentions
XeroCompanySoftware company
70%17 mentions
Bloom Group Holding LtdCompanyCompany
63%4 mentions
AustraliaCountryCountry in Oceania
57%2 mentions
Black FridayEntityHoliday
50%3 mentions
InstagramSoftware ApplicationSocial networking service
43%2 mentions
PayPalCompanyFinancial technology company
37%4 mentions
AfterpayCompanyCompany
30%2 mentions
EpisodeEntity
23%1 mention
The 7 Habits of Highly Effective PeopleBookBook by Stephen Covey
17%1 mention
Australian Taxation OfficeGovernment OrganizationGovernment agency
10%1 mention
Microsoft ExcelSoftware ApplicationComputer program
3%1 mention

FinanceBusiness
AccountingBusiness > Finance
Business
E-commerceBusiness > Finance > Accounting
TaxationBusiness > Finance > Accounting > E-commerce
GST ManagementBusiness > Finance > Accounting > E-commerce
Financial ReportingBusiness > Finance > Accounting > E-commerce
Inventory ManagementBusiness > Finance > Accounting > E-commerce
Profit MarginsBusiness > Finance > Accounting > E-commerce

Cold-open GST mix-ups on ad spend0:00 – 0:47

J

JaimieGuest

0:00

They had like 300 grand of ads and it was a huge, huge GST things, making sure like your GST on your Facebook and your ad, like the ad platforms is being accounted for correctly.

0:12

If you don't put your ABN into

J

JaimieGuest

0:14

Facebook, so you don't get the claim.

J

JaimieGuest

0:16

And I've seen people do that.

J

JaimieGuest

0:17

They assume, well, the bookkeeper doesn't really know anything about Facebook, assumes it's an American company, goes GST free, but then the client hadn't put the ABN in.

J

JaimieGuest

0:27

If you Do put your ABN and you are

0:30

GST registered.

0:31

They don't charge you GST.

0:32

If you don't put it in, they do add you GST.

0:35

It's not clearly explained

J

JaimieGuest

0:36

to anyone.

J

JaimieGuest

0:37

That's kind of why we have to look at the tax invoice, which is also really hard to find.

J

JaimieGuest

0:43

So we had to go back and amend all the buzzers and then get that freedom.

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