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INVENTORY FOR SMALL BUSINESS TAXES FINISHED GOODS MANUAL

Spreadsheets make so much more sense for small jewelers and one of a kind makers. It only makes sense if you are selling limited edition or repeatable items. The problem with having a fancy program for Jewelry making is that if you make one of a kind, then the amount of time you spend entering all of that information is a waste of time. Click here!ĭon’t mix stones together until you’ve identified them by color, weight, dimension and price! Colorful gems laid out by Daria De Koning, Fine Jewelry on Instagram If an excel spreadsheet is more your speed, save yourself the time, I’ve created one for you. Just like all programs, it has to be maintained and it doesn’t integrate with anything, so an inventory adjustment entry will have to be made in your accounting program. You have to make the adjustments in your accounting program to have the accurate value. You manually enter the data (or copy and paste) and then formulas calculate the rest.

INVENTORY FOR SMALL BUSINESS TAXES FINISHED GOODS MANUAL

Create an excel spreadsheet that does all of this tracking the same way the fancy software does, except a little more manual work.

To clear confusion from mis-marketing, as of the date of this blog, tradegecko, and StitchLabs, do not manage assemblies or bill of materials for production.

So, if you prefer a more hand’s off approach, don’t use our spreadsheet, and let the software take much of the manual work off of you. The greatest benefit to an online app like these, is that they are pre-formulated and coded for you, so there is no risk of errors, like in a spreadsheet if you don’t check the formulas when inserting lines for example.

Depending on your needs this could be a worthwhile investment that will save at least that much in headaches. Other add on software includes Businessmind for Jewelers, Dear Inventory, or Unleashed, but these are upwards of $900 per year last I checked. Select a cloud-based add-on software that integrates with Xero, like our app, BenchWorks , which also syncs with Shopify and Etsy and is only $1 a day when paid annually.

There are a few, but limited, with the most reputable being Fishbowl. The problem here is that they start at $4000 and most small businesses can’t afford that, and it’s also often too robust.

Buy a software designed to do this manufacturing feature (it’s called Kitting / Assemblies / Bill of Materials and more).