Business question...help, please?

[Former_Member]

Can some of you tell me how you document your business expenses and income? Is there a nifty spreadsheet that you use to calculate your cost and income to determine your profit? I need MAJOR help in this area! Thanks in advance!!!

Randi @
Regal Rhino

[Former_Member]

Anyone out there? I really need your input (and encouragement would help, too!) I'm not begging or anything. Lol!

[Former_Member]

Have you tried google for templates. You may get ideas from other business people there. Otherwise try your local bookshop - sorry I can't help you.

[Former_Member]

Thanks for that idea! It does help!

[Former_Member]

I use outright..... does a lot of the work for you.

[Former_Member]

I also use Outright, Randi. I love it. It's online, so I can add to it or check it anywhere.

I also keep track of all my expense on paper, like a check register.

Actually, now that I think of it, I should just just use a register!

[ShopDeliciousThreads]

I use Outright (www.outright.com) and keep a more detailed Excel spreadsheet to track my business finances.

[PaperFlora]

Outright is the way to go. It takes care of everything.

[StitchinStation]

I made a spreadsheet in excel. One is for expenses and one is for income. I have tabs at the bottom for the different categories so it makes it easier come tax time. I just put in the formulas so it adds everything up for me. If you don't have excel there are other spreadsheet programs you can use.

[Former_Member]

I use Excel attached to my Windows email program. Then each day or whenever I make a sale I go in and add the info into the graph. At the end of the year I print it out and that's what I use for my second "C" form.

[Former_Member]

I use Excel as well. I keep separate sheets in a single file for all the different types of expenses and profit that you can include on your Schedule C (if you're in the US) at tax time, such as:

-Supplies for resale (in my case, things like paper, mats, frames, etc.)
-Total Income from sales (including what the buyer paid for shipping)
-Shipping costs for Items sold
-Equipment/supplies for the business (not for resale)
-Fees (e.g. Etsy and Paypal fees)
-Memberships
-Continuing Education
-Advertising
-Mileage
-Home office expenses (e.g. percentage of rent, utilities, etc. used for your home office)

[Former_Member]

I use quickbooks...

[lippybrand]

Is "outright" free?

[Former_Member]

Oh my goodness! I just started using Outright because of this board and I realized that I really need to get moving on sales. I have spent much more than I have made.

[Former_Member]

I use Excel for everything. I tried using CraftyBase, but I hate entering in time worked on each project...mostly because I don't bill hourly and I often do 500 other things while I'm working.

[Former_Member]

I also use excel. Other people posted this answer, but I wanted to let you know that my favorite part of excel is the "autosum" feature of excel. It's where it calculates everything for you -- huge time saver! It's under the formulas tab in excel. The have a ton of budget templates, but I just made my own, and I am SOOO not computer savvy. I just typed everything in exactly how I wanted it. That way some program wasn't telling me how to do my finances.

Hope it helps!

[abellagift]

I try Outright last night. It does not import "direct checkout". All it show is my expenses?

[Former_Member]

Wow...thanks so much everyone! I have awesome information now and will check into these templates/websites!

[Former_Member]

The bf is a finance guy so he built a simple financial spreadsheet for me. It calculates fee's, income, loss, etc. Plot in a sale and it gives me my numbers. I actually like it a lot cause it tells me if i'm making profit or not.

however I was just reading about outright and signed up.

[GothicGraceJewelry]

Quickbooks.