You are great at crafting, you found your niche, your item was listed in the 'Handpicked' gallery on the front page of etsy, and now the sales are coming in. Or, you just started and want to build a good foundation before your store takes off. Let me tell you something, you own a business. Even if you sell only a couple of times a month, you are a business owner, and you should be damn proud of yourself.
Managing your business finances important to your business success, but when do you need a dedicated accounting program? When is excel no longer an efficient way to manage your business finances? And, most importantly, how can you manage your finances without spending a lot of money?
QuickBooks is the defacto accounting program for small to mid sized companies. Many of you probably know about QuickBooks or have a friend or family member that uses it, and you may wonder if QuickBooks would be 'too much' for your business.
In my opinion, you should only use QuickBooks if you gross over $5,000 per year. The reason is that at this point it would be advantageous to track your expenses and income so you can improve your business processes and handle your taxes.
The QuickBooks you should look into is Pro which is the cheapest desktop version of QuickBooks and is perfect for a crafting business. Pro will keep your taxes in line and will help you at the end of the year for filing taxes.
If you need a mobile solutions, QuickBooks Online Simple Start for $12.95 per month.
In the next couple of post I'll be creating a chart of accounts for a crafting business, and business practices to help keep your business finances in line.