lindsaycb Posted January 11, 2006 Share Posted January 11, 2006 How does everyone do it? Do you actually track how much wax you have on hand and deduct every candle out of that wax supply everytime you make/sell one?What do you do with your supplies inventory when you sell something in the classifieds? Do you just take it out as a loss? Do you not track that kind of stuff?Am I too detailed? I guess at any given time I should be able to look at what's selling and know how much pillar wax I have, right & how much more I can make from that so I'm not stuck ordering too much or too little & being stranded? Quote Link to comment Share on other sites More sharing options...
scentlady Posted January 11, 2006 Share Posted January 11, 2006 I do try to keep track of inventory so I don't run out. I kinda watch whats selling and keep track of how many candles I've made so I know how much wax is left. It's fairly easy for me cause my business is small. For year end I did a complete inventory in case my tax person needs it. Quote Link to comment Share on other sites More sharing options...
sudsnwicks Posted January 11, 2006 Share Posted January 11, 2006 How does everyone do it? Do you actually track how much wax you have on hand and deduct every candle out of that wax supply everytime you make/sell one?I don't track how much wax I have left to the last ounce. I just do a visual check to see how much is left. For finished candles, I do have a spreadsheet listing how many of each I have. Each time a candle is sold, I deduct from the spreadsheet to keep it current. What do you do with your supplies inventory when you sell something in the classifieds? Do you just take it out as a loss? Do you not track that kind of stuff?I would record this as income. Quote Link to comment Share on other sites More sharing options...
clonefan80 Posted January 11, 2006 Share Posted January 11, 2006 Well I use a very detailed inventory program, Peachtree. When I get stock in I add that. When I make a candle I add that as stock. I have everything i make broke down by, ie how much f/o a 16oz candle takes, wicks and so on. When I make a candle it automatically pulls inventory away from the other stock like dye, wicks, f/o and so on. I'm not going to tell you its an easy program to master but when you do you will be able to keep track of everything and the IRS will love ya if you ever get audited. Hope i made sense here.. Quote Link to comment Share on other sites More sharing options...
RobinInOR Posted January 12, 2006 Share Posted January 12, 2006 I use some of the features of the Quickbooks that came with my 'puter. I've got most raw ingredients in ounces as items. When I enter a bill, I reference those so my inventory is increased. When I do a batch of whatever, I do an item adjustment entry and reduce all the amounts accordingly. You could do something in excel even. One row per item you carry. One column for total, one for starting inventory, then a column for each batch you do. The total column being the starting - all the others...I didn't keep track of wick lengths or colors or such, but I kept track of wax and fragrance ounces and for b&b all my oils...When I sell something to someone, it's income just like anything else - but I classify it to a different account "other sales", so I can keep it separate from my regular sales. Quote Link to comment Share on other sites More sharing options...
lindsaycb Posted January 12, 2006 Author Share Posted January 12, 2006 hmmm, maybe just one file for purchases, one file for sales, and one file for end of year leftover made inventory. My brains gonna fry, I can feel it. Quote Link to comment Share on other sites More sharing options...
KJohnson Posted January 12, 2006 Share Posted January 12, 2006 I fell your pain Lindsay....Im thining I would be sitting infront of my computer all day if I keep track of everything..I recently got quickbooks and have yet to find the time to get everything put in Quote Link to comment Share on other sites More sharing options...
DaisyFairy Posted January 12, 2006 Share Posted January 12, 2006 I usually just adjust my inventory like twice a year based on sales and tests... takes a full day to do that but that way I am not constantly doing paperwork.. but still a pain.. so ......Ahhh... quickbooks! I have an older version and I have yet to get everything put in it.. usually mess the whole thing up and wind up starting over. This is really upsetting to me.. cause I am REAL computer savy! lol! I do ok.. till I start putting the items in and then I usually get confused.. as to what goes where and wind up not liking the way the invoice comes out.. or some such nonsense! So I called a local cpa office.. they do quickbooks set ups for companies.. I thought cool.. I will get them to set it up for me and all will be well... UH..YEAh!... they charge $500 for setting up quickbooks for a company... sooo.....all that being said..... I am fixing to start over on it again this year and try again..... Daisy Fairy Quote Link to comment Share on other sites More sharing options...
RobinInOR Posted January 12, 2006 Share Posted January 12, 2006 I have the same problem. But that's what's nice about QB, if you don't like the way a report shows stuff, you can go back in and change the original transactions, recode them into different classes, or change the account..An accountants no-no, but really useful when you're first setting up.I program accounting software for my day job, have done so for 20 years, and *still* don't understand much accounting Quote Link to comment Share on other sites More sharing options...
cybersix Posted January 13, 2006 Share Posted January 13, 2006 Inspired by this thread I searched for a program to use to keep inventory, customers, orders and so on..I found a nice program, it's free.It's Volutive 1, I downloaded it for www.download.com, at a first glance it seems to have all I may need.Once the inventory is completed you can insert recipes of what you do, and things you use will be subtracted from the inventory.You can email invoices, add options for shipping, payments, and so on.Wish I have the time to use it!!! Quote Link to comment Share on other sites More sharing options...
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