tax time

[lizflowers42]

Any seasoned soapmakers out there that have a fool proof method for making tax time a breeze? I have my purchase receipts and my sales receipts. Hubby is going to make an excel sheet for both so I can see how my first year went.

 

[shunt2011]

That's pretty much what I do for my tax man. I keep an excel file with purchases and sales etc. I also list what stock I have left. I then let him figure out the rest.

 

[lizflowers42]

That's pretty much what I do for my tax man. I keep an excel file with purchases and sales etc. I also list what stock I have left. I then let him figure out the rest.

Thanks Shunt!

 

[Mellifera]

I use QuickBooks online, the cheapie starter edition. It works fine, but I'm considering changing to Xero or something with built-in inventory.

 

[The Efficacious Gentleman]

I'm making myself a database with purchases, batches, sales, inventory (stock and supplies) - will use that to print out the pl and then with the bills etc in date order, they can tally the two nicely.

 

[Kamahido]

I know this is a rather old thread but I just wanted to remind those who have to worry about tax time... if you have your info in an excel or other program's document, do not forget to always have an up to date backup preferably uploaded to a cloud. I shudder to imagine tax time for my personal taxes with my documents lost or irrevocably destroyed.