Bookkeeping for designers is very different than for product makers – especially when it comes to keeping track of the cost to design a knit or crochet pattern.
Designers have SO MANY questions:
- Do I really need to keep track of the cost to design a pattern and make a sample?
- What costs should I be keeping track of?
- Are the materials I use in the sample considered inventory or can I just expense them?
- What about my time, does that get included too?
- How many patterns do I need to sell in order to break even?
- How many patterns do I need to sell in order to make a profit?
- If I sell the sample, what then?
- OMG, how do I keep track?
Have you ever asked yourself, someone else, or are curious about any of these questions, but don’t have an answer?
Would you like to find out the answers to these questions and more?
If so, the Bookkeeping for Designers – Free Training session is for you!
- WHEN – Thursday, March 16, 2023 from 2 – 3:30 pm EST
- WHERE – The Handmade Business Bookkeeping Community (a private, non-Facebook community
- WHAT will we discuss?
- Why you might might want to keep track of how much it costs to design a pattern and make a sample
- What costs you might want to keep track of
- Whether or not you need to keep track of inventory
- Your time to design/write the pattern and make the sample.
- When & how costs get expensed (transferred into Cost of Goods Sold) when you finish a sample
- How many patterns do you need to sell in order to break even and/or make a profit
- What happens (as far as the bookkeeping goes) if you decide you actually want to sell the sample
- How to keep track of samples that you send to a trunk show
- PLUS, I’ll show you step-by-step how it’s done using QuickBooks Premier Desktop (plus Wave Accounting & spreadsheets – IF TIME ALLOWS)
How to sign-up for the free training:
- Join the Handmade Business Bookkeeping Community (registration required)
- Set up your account
- From the menu at the far left, look for Events, then look for the March 16th event called For Designers – Inventory, Product Samples & COGS, etc.
- Reminders will be sent the day before and 30 minutes before the session starts
- This is a LIVE session, with a replay available in the community group.
Once you have your account setup you can download the Heartbeat desktop app and launch straight from your computer without going to a browser and/or the Heartbeat mobile app:
- 💻 Desktop App: Visit https://www.heartbeat.chat/desktop-app
- 🍎 iOS: https://heartbeat.chat/ios
- 🤖 Android: https://heartbeat.chat/android