Business Records

[Red Cent]

Looks like I need to begin a business. What software are you using for a going business? I have quite an inventory of most of the various tools, Cobra 4, leather, and the rest of the usual stuff.

[Pounder]

Red Cent

Is shocked you are not already in business, cosmic erring your work I am sure there is demand. Anyway,being in the "business" myself I would stay away from Quicken home and business, I purchased that system two years past when I started my own only to discover I need to buy the upgrade now ifI want it to comtinue. Not bad mouthing them but I should have done more research before buying but I never suspected something like that. Will befollowing this post as I am interested saw well.

[RMB Custom Leather]

I created my own MS Excel spreadsheet workbook, Paypal has several reports you can run to get most numbers to input. Just 2 cents

Edited January 23, 2014 by RMB Custom Leather

[Red Cent]

I have "sold" a couple of items to friends but somebody blabbed and I am now "covered up" .

We have Quicken and considered getting the business product. Looks like we need to look around. I don't know of any others. Research.

It also surprises me that the response to this question is so low. Surely someone has suggestions or a name of a proven piece of software.

I am not getting into the e-commerce right away. A lot of my work will be done for cowboys and I know most of them. So it will be accomplished by e-mail, pictures, Facebook, and a website my oldest son is doing. The wife is my professional organizer and will keep me straight. She is an accomplised software user having dealt with the stuff during her banking years and a stint with LabCorp.

Thanks guys.

[rlpullman]

Here is a link to a site I found awhile back. The link takes you to a site for an small business accounting newsleter. After you sign up for the newsleter, she sends you a link to where you can download her Microsoft Excell accounting templates. They are quite well done, and easy to set up for a small business.

http://www.basicaccountinghelp.com/free_spreadsheets.html

[Red Cent]

Thanks.

[JLSleather]

Not sure what they do out yer way, likely different in each state. Simplest terms, what you're taxed on is a matter of what you have that you didn't have before (money in - cost of goods = income). I use Quicken business, and I can tell you that this one and MOST software won't be much help with the inventory.

Quicken works okay in that I can click a button and see what I spent for carving leather, or another click er two and see how much I actually "made" in June (lots of other options, just a couple of examples). But, a lot of other programs would do the same thing.

Idea (I think) is to keep it simple. Couple things I think more important than the actual program you use (in Iowa, I'm talking now - check yours). ....

1.) Open a "business" bank account, and keep your purchases from there as much as possible. Even a "business" PayPal account is better than multiple places, but then you're left hoping that you can make your purchases with that (which IS possible). Not only this saves you some "other' pains, but the bank you use may be able to tell you which software works easily with their system so yo can download the transactions to verify.

2.) Decide an an inventory "counting" system right from the start. Basically, fair market value of what you have on hand when you "start". Doesn't matter how it's done. Just don't say you have 1/2 full 32oz bottle of black dye, then at the end of the year you call it 16oz. Snaps are maybe by the "bag", etc.

3.) If / when you decide on a software program, set it up to track (separately) -- project materials (leather, dye, oil, thread, whatever) -- tools for the shop -- 'consumed' goods (printer paper, pattern materials, shipping boxes, anything else you use yourself on the job). I can tell you I din't set this up so very well in the beginning, and it would have saved me a lot of time doing that to begin with.

[SLudlow]

I personally use QuickBooks 2014. It's completely unintuitive, but once you get the hang of it it's a pretty nifty bit of software. I use an accounting firm and a law firm to ensure that I'm in compliance, and they coordinate with my QuickBooks to keep my records in line for tax-time. My accountant sat with me through the QuickBooks setup and got me started with that, and it is really quite excellent for my inventory tracking needs.

[Tex Shooter]

I have used QuickBooks for years. It works very well. -- Tex

[Zandolf]

_{Hi All, this is my first post as I am very new to leatherworking and have been trolling for information. While I have never sold leather my primary business is a podiatry clinic and my secondary is timber pens and fretwork I sell through a wood museum. I too ran into problems with the running costs of Quicken and quickbooks but found both to be very good programs once you learnt how to drive them but do to most of the accountants in Australia preferring MYOB I have just transferred over to MYOB Live. I must admit I find it a little lighter on than Quick Books but I am loving the cloud set so I can do my bookwork anywhere I have internet and it is a low monthly subscription as opposed to a large initial outlay.}

[Randy Cornelius]

I use a program called FF Inventory Pro. My web designer turned me onto it. It like accounting software for dummies. Real user friendly does inventory and invoices etc and a whole lot more. And it did not cost much, under 200.00 and you can put it on as many computers as you want. If anyone wants more info I will get it tomarrow but the snow is about a foot deep getting to the shop right now so it will have to wait until the morning.

Randy

[Zandolf]

I would definitely be interested in more info about FF Inventory Pro. Nothing I have used handles inventory to my satisfaction yet. Just under 40 degrees celcius here lately so I would happily trade you some heat for some snow.

[JLSleather]

I'd certainly be willing to hear ANYthing about making inventory easy. I HATE inventory. I haven't used quickbooks since we had employees (that was the only advantage I saw there) and that was quite a while back.

Just for example ... a few belt inventory "issues" for thought:

One guy wants ONE belt, with line 16 snaps in brass, leather keeper loops, antique finish brass heel bar buckle, no tip. You'll need:

• THAT buckle
  
• brass line 16 snaps
  
• carving leather in at least one weight (I would use two weights);
  
• leather dye / oil / finish
  
• carving tools (if tooled)
  

The other guy wants TWO belts, same carving design on both, different sizes. Lined and stitched. Western buckle 3-piece sets (matching) attached with screws. Now you need:

• two of the new buckle sets
  
• 'chicago' screws
  
• carving leather (likely two weights);
  
• leather dye / oil / finish
  
• carving tools;
  
• some sort of adhesive, even if only temporary;
  
• needles and thread (with or without a machine);
  

Both of these orders assume that you have something to cut a straight strip with, some means of transferring the design (which I would do, since the two are expected to match); some method of applying dyes/finishes, tools to set the snaps and screws -- just to get started on these.

Now, these orders happened this morning. Not a problem, it'll get there. Here's the issue ...

The tax guy wants to know - at years end if not quarterly - the beginning and ending inventory. Obviously, you can't "plus" er 'minus" the same amount for these orders, as the materials are not going to be the same. The amounts won't be the same. Unless you stock the buckles requested, then you'll order them. The purchase price is "cost of goods sold", which "theoretically" would include any shipping you paid on them. BUT, how to track THAT purchase without doing every little detail on individual orders. Here's one example ... You order the buckles. While you're waiting for the buckles, the person who wanted the belts has an emergency, and it's in their interest to cancel the order. Options?

• Refuse to cancel. They asked, they paid, and they're "stuck". If this is you, I meant this post for someone else.
  
• Cancel the belts. Also cancel the buckles. You can return them, but you're likely out the shipping charges.
  
• Cancel the belts. Add the buckles to inventory, you kin use em later. Course, now you gotta 'count' em.
  

Now, what program can I use, that will [relatively painlessly] let me look at the page and know that I have 40' of tooling leather, 97 brass line 16 snaps, 100 nickel chicago screws (which I didn't use), 87% full bottles of leather dye and finish, two western buckle sets, carving tools, a strip cutter, a straigt edge and knife, 95% of a spool of thread, and 10 needles (though you need to dispose of 2 of em). AND that pesky partridge ina tree you hear about.

In the end, with inventory, you either

• track it as you go (meaning you input what you actually used)
  
• count it at year end; or
  
• lie (make up something)
  

IF you're that last guy, you might consider fair market value before you sign your name for the IRS. Those buckles that guy wants, plated stuff - $25. Shipping on them, $6. Not a big deal? Do that 100 times this year, and your inventory is $600 different from what you actually have. If in your mind you just said "that $6 should have gone in as shipping charges", then you are beginning to get my point ...

[SLudlow]

It's a bear, I'll agree full well with that! Spend half my time bookkeeping and going through receipts...

[radar67]

Quickbooks Priemer will allow you to build items in inventory to cover what you need. You need to set up as a manufacturing business to get this part of inventory to work.

[leatherjo]

This site should provide you with some useful information: http://accounting-so...small-business/

If you click on one of the ratings buttons, you will get ratings and information on that particular topic. Note that there is a button for inventory and services. And the information should be current since this is a 2014 article.

Also if you click on the menu icon on the left side of the black bar, and then click on "business" in the menu, you'll get information about other software for small businesses--for example, a review of credit card processing software.

There is a LOT of information here. Happy reading!

[shooter55]

QuickBooks here. Like the reporting system. Never a problem.