Another thing that I just recently did was go to the shop and take inventory. I created a word document for recording everything that I had in my booth and am making it a habit to record everything that I take in there from now on. This not only helps you keep up with how much profit you are making but it will also help you if something goes missing. You should be able to save a copy of my sheet below, photoshop out the store and add yours. You can always use excel, I just prefer to hand write it. I never really learned how to use excel very well and it frustrates me.
I put many copies in a 3 ring binder along with a folder that will hold all of the print outs that the store gives me of what I sold. I also have a manila envelope in the folder that holds receipts for all of my expenses. I hope this helps some of you get started. As I learn more, I'll add it to this series labeled starting a business. Here are some pictures of my booth from yesterday. I love how eclectic and cozy it becomes when mom and I mix our things. Walls should be going up shortly so we will be arranging again really soon! You can see, after my french chair sold, the orange chair made it's way back in. You can't get too used to decor in my house. You never know when it might disappear.
Beautiful stuff. Wish I could shop there.
ReplyDeleteYour booth looks great!
ReplyDeleteI so understand that creative brain verses numbers thing. I am in my 3rd year of owning a store, and wow! what a headache the bookkeeping is!!
Each year we get a little more added to computer programs, and I try to be a little better about keeping things recorded. I am on the verge of just having someone else record it all, as the bookkeeping keeps me from creating! cannot have that!!!
Blessings, and HELP, as we both forge ahead. =)
barbara jean
PS thanks for the print out.
Inventory record keeping - so important. You are doing the right thing. Keeping all business related receipts (I keep by month in a month envelope), inventory is kept in a spreadsheet on my computer (looks much like your record keeping sheet you showed on your post. An accountant for taxes is really important too. Takes a lot of time though.
ReplyDelete- Joy
Good for you on getting organized with your paper work. I need to do a better job. I do save all my receipts and organize those...but usually at the end of the year! Ha!
ReplyDeleteLove the pics!!
Hugs
SueAnn
Your space looks fabulous! How fun!
ReplyDelete--Katie
www.blah2beautiful.blogspot.com
The booth looks amazing. This is grea advice! I am saving this. What a great idea for keeping track. I do use Excel, but you could do the same in Word. I have a "paint file" for each piece I have done. I list the paint color, any other finish, like glaze, the color, wax, and anything else. Then I estimate the cost of supplies/add up my hours (because I work on contract basis) and then see what my profit is. I also then can save tithe for my church from this too. And I know exactly how much I made each month, and what I owe the Lord. Plus....it is great if I want to go back and replicate something difficult.
ReplyDeleteYou are totally on your way to a business empire here! Good luck. -K
I just went to my accountant to talk about how to administrate everything! This what I will do: put all the receipts on date and the invoices too. Once in 3 months the accountant will put this in a program and so I can see what I spent and what I earned. But it is really not a nice thing to do..let us do the creative stuff and less of the number stuff please!
ReplyDeleteGood for you getting our inventory recorded. I know that's a big task. Excel really is worth its weight in gold; especially a spreadsheet like the one you've created in Word. Play around with it and see if you can make a copy of your inventory sheet in Excel and one by hand; it will be a helpful double check (totals/numbers) for you.
ReplyDeleteI really like your booth!! Looks like you have a lot of good stuff!
Kaye
Hiya! Stumbled upon your blog and it is GREAT:) I can't wait to check it out each day now.
ReplyDeleteBTW - is that bench with the upholstered top for sale? It is so adorable.
Kelli, your space is beautiful! I love the pops of colors mixed with the linens and creams. It is elegant. I need to start doing an inventory list too and I am not looking forward to it. That is not the fun part!
ReplyDeleteAmanda
You better keep that sheet saved in your PC and prepare a lot of hard copies of it, just to be sure. That's because there will be times when you'll be doing inventory left and right. By keeping a copy, you can simply insert the newly-collected data on your inventory software.
ReplyDelete