Helping handmade & creative business owners learn to handle their bookkeeping with confidence!
Wondering if using bookkeeping software or spreadsheets for your handmade or creative business bookkeeping is a better choice? Well, you aren’t alone – it’s a tough question and doing the research makes it an even tougher decision. And, let’s face it, I KNOW that most handmade or creative business owners DETEST doing their books and …
When do I FINALLY get to pay myself? That’s a question most handmade business owners often ask and one that I hear a lot. Yes, you’ve been working really hard on your handmade or creative biz, the money is starting to roll in, and YES, you deserve to pay yourself. BUT, before you can figure …
3 Things Every Handmade/Creative Biz Owner Must Do – Bookkeeping basics. 1) Open a separate biz checking account. 2) Do your bookkeeping. 3) Create a budget. These are 3 things every handmade or creative business owner must do. As if you don’t already have enough stuff on your plate to do being a small handmade …
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 – …
Assets – that’s an accounting speak for your handmade business term used by CPA’s, tax professionals, and business advisors for the things that your handmade business owns that has value. That’s why Assets are the first things that are listed in the Chart of Accounts. Assets are divided into three categories: When it comes to bookkeeping, accounting, taxes, …
Chart of Accounts – that’s accounting speak for your handmade business for the way that CPA’s, tax professionals and business advisers organize financial data about your company. They use a Chart of Accounts much like we use a plastic storage organizer to organize our crafting supplies. Now, technically speaking (according to General Bookkeeping and Accounting practices); each …
Keeping track of expenses for your handmade business is just one piece of your bookkeeping, accounting, record keeping, or whatever you choose to call it. In our last blog post, we talked about why you need to do bookkeeping for your handmade business. In this post, we’re going to do a basic overview about what …
Business and bookkeeping go hand in hand – it’s a fact of life just like death and taxes. The moment you decide you are going to start a real handmade business and not just be a hobbyist anymore – EVERYTHING changes! One of the changes is that you now need to do some serious bookkeeping …
![[NEW BLOG POST] My Handmade Biz - How to track inventory
Keeping track of inventory involves details about: - What we’ve bought - How much it cost - The amount we used - What is left - And, the normal retail value
Sounds super simple, right? WRONG!
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#bookkeepingforcreatives #bookkeepingtips #yarnpreneur #CIAmember #iamayarnpreneur #handmadebusiness #creativebusiness #mycreativebiz #makersmovement #smallbusinesslove #craftbusiness #mycreativebiz
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![[NEW BLOG POST]
My handmade biz-What is Inventory?
Inventory is sort of a bookkeeping black hole.
You have to keep track of the cost of all the materials and supplies that you keep on hand to make your finished items, in detail – but you can’t deduct what you spent when you spend it.
Yes, you spent the money – but Inventory is an Asset and it’s tracked on the Balance Sheet. It doesn’t hit Cost of Goods Sold on your Profit & Loss Report UNTIL you sell the item that you used the materials in and then it’s only the cost of the materials that you used in that specific item.
Read more at https://yarnybookkeeper.com/what-is-inventory/
OR click the blog link in my bio
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#yarnybookkeeper #bookkeepingforyourhandmadebusiness #bookkeepingforyourcreativebusiness #bookkeepingforyouryarnrelatedbusiness
#bookkeepingforcreatives #bookkeepingtips #yarnpreneur #CIAmember #iamayarnpreneur #handmadebusiness #creativebusiness #mycreativebiz #makersmovement #smallbusinesslove #craftbusiness #mycreativebiz
#creativeentrepreneur #creativepreneur #crochetpreneur #smallbiz #savvybusinessowner #makersmovement #smallbusinesslove #craftbusiness](https://scontent.cdninstagram.com/v/t51.2885-15/sh0.08/e35/s640x640/79249126_498767230752427_4341965788129070923_n.jpg?_nc_ht=scontent.cdninstagram.com&_nc_ohc=ccMM4Wx_nXYAX_ATRw-&oh=07c9edda71396a2e7efa3d456986b098&oe=5EBFDCCA)