Helping handmade & creative business owners learn to handle their bookkeeping with confidence!
Bookkeeping using software, will cost you money- but it is going to SAVE you a LOT of time in the long run! Unlike spreadsheets, which we talked about last week, bookkeeping software costs money. Money is something that many handmade or creative business owners lack, especially when they are just starting out. BUT, time is …
Bookkeeping using spreadsheets was the most popular answer to a poll I created this week in my Free Facebook community. I asked the members of the community to tell me what they would like to learn more about: creating a bookkeeping system using spreadsheets setting up QuickBooks Online to do your books using QuickBooks Desktop …
As TAX time quickly approaches, I’m betting most of us wish we had a bookkeeping fairy to turn to for advice (or one that could simply work her magic and our books would be done). Unfortunately, there is no such thing as a bookkeeping fairy – but I can offer up some advice. Unfortunately, there …
Getting the bookkeeping for your creative biz under control should be a high priority for every handmade business owner. If you are serious about running a creative or handmade biz you need to be serious about doing your bookkeeping. Over the next few week, I’ll be giving you some tips to help you turn over …
Tax time is almost here in the U.S. and that means it’s time to review your bookkeeping records and reports. For some of us, it may actually mean several days of grueling data entry. Either way, once the data is entered, you need to carefully review your reports for accuracy. For most of us here …
Bookkeeping mistakes happen – I get it – they happen to the best of us. But sometimes bookkeeping mistakes happen because of something we read on the internet written by people who mean well. I want to warn you: Not everyone out there is qualified to give you bookkeeping advice! AND, not everything you read …
A physical year-end inventory is an absolute MUST for every creative or handmade business owner. Let me start by saying that inventory is an animal all of it’s own. Inventory, just like any animal, needs constant attention. EVERY creative or handmade biz that has inventory MUST: do a physical inventory when you decide to start …
There are so many different ways of keeping track of your business receipts and keep the paperwork organized for your handmade business, here are a few tips that I find most helpful. We purchase something in a store and we’re asked “Would you like a receipt?” from the person checking us out. Unfortunately, we hear …
Tracking income and expenses by venue or customer and the various jobs/projects you do for them is something every handmade business owner will want or need to do at some point. After all, we want to know which craft fair we spent the most money on and the amount of money that we made from …
Tracking sales tax in your handmade business can be a total pain and it could get worse! On Tuesday 4/17/18 the Supreme Court took up the battle between states and web retailers over the collection and remittance of Sales Tax and this could result in small business owners have to collect and remit Sales Tax …
Equity – that’s an accounting speak for your handmade business term used by CPA’s, tax professionals, and business advisors for how much your business is worth. That’s why Equity are the third section of your Chart of Accounts and your Balance Sheet report. What the heck is Equity? Equity is a tricky little devil and isn’t entirely straightforward (imagine that!). Depending …
Liabilities – that’s an accounting speak for your handmade business term used by CPA’s, tax professionals, and business advisors for money that you owe or will owe to others. That’s why Liabilities are the second section of your Chart of Accounts. Liabilities are divided into two categories: When it comes to bookkeeping, accounting, taxes, and the IRS – …
