Keeping receipts from what was sold at a show

[7Angela7]

Somebody told me that a receipt must show:

1. Date of purchase
   
2. What was purchased
   
3. To whom it was sold

Is this correct? Do you get the full name of the person you sold it to?

I have a generic receipt book, I think it's a money/rent receipt which I believe has fields for date, item, cost, signature, but not too much else. Does anybody else use this? If a receipt needs all the above information, where do you fit it all into? Wouldn't you need a seperate line for each type of item (container, pillar, votive, etc)? And would you just cross off (I think) grand total & put tax owed instead?

How does everybody do it to be able to keep a copy with all the correct info on it?

Thanks for your help!

[sudsnwicks]

It is not easy giving out receipts at a craft show. Here's a typical scenario: I am helping one customer, while another customer has chosen what she wants, takes the item, puts the money (exact change) down on the table, and leaves. It would be hard for me to catch up with customer #2 to issue a receipt.

Another thing is, if I'm a cash paying customer, I might not like to give out my name. When I buy something from a grocery store and pay cash, I am never asked for my name.

Perhaps it's sufficient for you to report the grand total income from the show and pay taxes from that amount? If you have to fill in something for #3, how about "craft show, various customers".

[Beth-VT]

For shows? There's no way anybody in any craft can do that. Of all the things you've ever purchased from a show, a mall kiosk and the like, how many times have you been asked for your name for the receipt?

When I do shows, I (try) to keep a running list of everything I sell. Or I do an inventory before/after so I know what was popular....but individual receipts for each sale? Nope. Not me. I just write up a generic receipt/invoice for my records that shows the sales, tax, etc.

Now, any sales that I do direct out of home I do individual receipts for. I use what you do, either a 2part or 3part sales book is all you need. If you're collecting tax, just be sure it's listed seperately. As for line items, I break mine down item by item cuz my out of home sales are usually repeat customers and I like to keep track of what they buy. HTH.

[7Angela7]

Perhaps it's sufficient for you to report the grand total income from the show and pay taxes from that amount? If you have to fill in something for #3, how about "craft show, various customers".

This is what I was thinking, I just didn't know if that would be allowed. This would be my 1st year filing taxes as a business (don't have many sales though), and I guess I just don't really know what's expected. Somebody told me that the name should be on there, but I thought the same as you guys, that it would be odd asking their name at a show. I was just gonna keep a running list of everything sold, and figure costs up once it's over, then just do a receipt from the whole show. Hopefully that'll be acceptable.

Thanks for your help!

[Linnyeg]

I filed my taxes last year, and at craft shows I just keep a running total of what's selling and double check it with how much money I have at the end. My accountant didnt have a problem at all with how it was done! So I assume it was alright.

[LynnS]

I agree it can be hectic to do a sales receipt.I do know some use cash registers.These crafters have ususally 2 and one waiting on the customer and the other taking the money.They keep tabs that way.

I also don't think some would want to give their name out.Alot that do come to craft shows come from a distance.I have been to some shows where they come from out of state and others lives almost an hour away.

Your decision at Craft shows can be "do you want to charge tax then or just take it out of what you sold".I do have maybe a couple at each show ask if tax on the item/items.

LynnS

[sharyl55]

I use a Staples sales book at the FM and craft shows to keep a running total of sales. Only write up a sales receipt if the customer requests it. I do charge sales tax on sales $5 and up. I cover the tax on sales under $5. Just works easier that way and helps with the change. I have a separate book for orders. And like Beth anything I sell from home gets it's own sales receipt.

PS. At my busier shows my neighbor comes along to collect the money and write down the sales. Having a helper is a life saver.

[Dustpuuppy]

An electronic register can be had for around $100 and it will do all the addition, figure the taxes and keep all your records for you.

[gerrie]

I do it just like Beth, no way am I going to give a receipt at a craft show. You have people in line and they don't want to wait while you write a receipt, they want to keep moving. Orders are a different story.

I add tax to my asking price, so at the end of a show I take inventory and see what I sold and take out the % I need to pay the state. Also I round off the sales tax, don't want to deal in a penny here and a penny there.

[agoodsaid]

Somebody told me that a receipt must show:

1. Date of purchase
   
2. What was purchased
   
3. To whom it was sold

This would be great info for your own marketing ... but all the IRS cares about is that you pay on the income.

Some shows may have rules about receipts. Some states might have rules too .... I sure don't know all sales tax laws (best to ask the source there)... but no matter what is 'supposed' to happen, writing receipts at craft shows only happens in my booth when someone asks for one.

I grand total everything, subtract what I started with, pay sales tax from that, record a total for the day and report the income and expenses accordingly on my schedule C.

Andrea

[Rockin]

When scented and I are at the same show one of us will take the money and make change while the other writes down what was sold. When I am by myself at shows I have had up to 5 or more in line waiting to pay. I tell that my fingers don't write as fast. If they grumble about Uncle Sam getting his share I just say I completely understand but I want to be around for next year's show so they can come back to buy again. Most of the time they to busy raving about the candles and scents and how they look.

[sudsnwicks]

When scented and I are at the same show one of us will take the money and make change while the other writes down what was sold.

We used to do this too, then got too confusing. So now we just write down the dollar amounts sold, then tally this to the cash at the end of the day. As for what was sold, I do an inventory before and after to determine what was sold.

[sudsnwicks]

Your decision at Craft shows can be "do you want to charge tax then or just take it out of what you sold".

If you think the show is going to be busy, it may be simpler to pre-factor the sales tax into the prices. I am thinking of someone who just wants one small item, has exact change, and doesn't wait until you help her but just puts the money down without realizing tax hasn't been added in yet.

[Common Scents]

What I do is take inventory of everything I have for sale before the show and then take inventory again after the show. My sales tax is figured into the prices of all my products so I don't have to worry about it. It is so much easier to do it this way! However, I am looking into getting a cash register just to make things that much easier.