Inventory, oh Inventory! Alexia, Brooke, Karina and many others have asked: [quote ]”What is included in inventory? Is Inventory just my finished jewelry? Do I include metals and gemstones that haven’t been made into anything too?”[/quote] Short answer: yes, include the following: Raw Materials available for production Works in Process not yet ready for sale...Read More
Part 2: Xerocon New Releases Greater integration with PayPal: If you use PayPal as a Payment method to accept payments on Xero Invoices, your customers will no longer be redirected to PayPal from the online invoice to pay! Customers can now pay Xero Invoices with PayPal using PayPal connect, it’s like Facebook Connect in that...Read More
Candace asks: Q: Does this inventory tracking/pricing workbook replace the other software based jewelry systems like benchworks, craftybase, jewelry manager, etc? Would I be able to add SKU numbers for my finished pieces and variations if I use different gemstones? I am looking for an easy to use and maintain inventory system. Currently, I am...Read More
As your bookkeeper, we are constantly asked about hiring help and when does a worker qualify as an independent contractor vs employee. The below lists are the best checklists I have found to help you easily decide and see the difference of how a worker works for you. This way you can understand when hourly...Read More
Sara asks: Q: With the new year comes new tax rates for my county, which affects a couple of the tax rates I have set up in Xero. Should I just go into the existing rates and update them? If I do that, will all the past transactions that used that rate be affected? Let’s...Read More
Brandy asks: Q: I did a couple of shows where I paid a commission to the store. Not sure how to log these. I paid commission in cash on one and the other one took it out of sales. How to Record Sales Commissions in Xero A: Usually, this “commission” is considered the discount from...Read More
Welcome to the first edition of Friday Q&A! Alexia asks: Q: I’d like to get a better understanding about the Equity numbers on the balance sheet. What is the Equity section on the Balance Sheet? A: The Equity shows the flow of money in and out of the business, including from the owner(s). Owner’s Equity...Read More
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