If you don’t have a high interest savings account earning more than 1{f4f1c227a9297829d6c2f0b223ad0188fddc4ac1a871d87b426e6cec743bfd5b}, then you should open an account at Synchrony, Capital One 360 or another recommended by NerdWallet.Read More
You want to understand the financials of your jewelry business, but think it’s too complicated. You’re overwhelmed and don’t know where to start. You aren’t alone. Did you know the #1 pain of any business is doing their accounting? Many small businesses, especially artists, and specifically jewelers that are not business savvy, think by putting...Read More
Michelle Asks: Q. Do I have to offer the 2/10 Net 30 discount? Is it expected? And should I include penalties if paid after 30 days? I’d like to be paid a deposit with the balance paid within 30 days of product receipt.Read More
You probably already know that if you are self-employed, then you are to pay self employment estimated taxes to the IRS each quarter, right? But you may think you have to mail in the remittance slip that came with your filed return for the prior year, and you can, but that’s not the easiest and...Read More
Why Accounting for Jewelers prefers Xero over any version of QuickBooks… For the first 17 years I did bookkeeping, I never loved the actual programs. I enjoyed the purpose of organization and reporting outcomes, but the process was a chore. Xero Accounting Software changed my world. It was the missing key that made everything understandable...Read More
Robin from Flourish and Thrive Academy asked us: Q: What Reports should be running each month? A: There are 3 main monthly reports you should review. We call these your key Management Reports. Action Step: Run the following Reports and analyze each line and how they relate to each other. Doing this regularly will help...Read More
Brooke asks, Q: I’ve seen a lot of people getting hacked on FB and I’m scared it’s going to release my credit card info. I tried to cancel payment and I’m not sure how to disconnect my credit card from these socials? Any idea?Read More
Brandy asks: Q: I am in the process of setting up our Shopify POS. I’ve had two sales on it. Is there anything I need to do to document these sales or are they all going to be registered on Shopify? Can I run reports for retail/shop sales in Xero or do I need to...Read More
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