March bookkeeping tips for craftpreneurs who dream of finding the elusive pot of gold at the end of the rainbow in their handmade, creative, or craft business.
For many of us, finding the pot of gold at the end of the rainbow is a mythic journey with a seemingly never-ending destination that promises a 6-figure income handmade business.
However, for some, this is a real and achievable goal – IF we diversify and have several sources of revenue. But it’s not just all about the revenue!
March bookkeeping resources to help you find the pot of gold in your handmade business
With the right tools and guidance, the pot of gold can be found in the bookkeeping system of your handmade, creative or craft business.
Blog posts to read:
- The pot of gold is called Net Profit and it’s found in a Profit & Loss Report
- But don’t get confused by Revenue and Profit, they’re TOTALLY different
- Wondering when you should start a bookkeeping system for your handmade business?
Free training session – Bookkeeping for Pattern Designers – Thursday, March 16, 2023 @ 2 pm EST
On Thursday March 16, 2023 at 2 pm EST, I’ll be offering a free 1+ hour training session in the Handmade Business Bookkeeping Community called Bookkeeping for Pattern Designers.
Here’s what we’ll 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 the sample is finished
- 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)
If you’re already a Community member, go to the Events section in the Community.
If you aren’t a member of the Handmade Business Bookkeeping Community, join today!
Are you a motivated business owner who wants step-by-step instructions on how to setup a bookkeeping system from the very beginning?
If so, the Handmade Business Bookkeeping Academy is worth checking out. It’s an annual or monthly subscription – choose which one fits your budget. Check it out the Academy membership.