Question about Office Equipment & Supplies
Advice for this is a bit beyond the limits of what experts here can easily do, you should either find a bookkeeping service...or buy one of the great softwares out there for small business.
Either Quickbooks or Peachtree would work great, I think Staples has Peachtree with a rebate for about $10.
Just a couple quick tips, though. The consignment or purchase question just means that your expense is different. For purchase, you would record what you paid for the item as the expense, and what the customer paid you as the income. For consignment, you would just record your commission as the expense. You will need to keep track of the sale price for sales tax records, though. You just won't record the sale as income. How you keep track of individual items is more of an inventory issue, you just need to keep records of what you pay and what you receive in the sale.
There is some software out there geared to consigment, take a look and consider it. The small investment in money should help save lots of time and free you up to actually run the business.
Posted on Feb 14, 2010
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Posted on Jan 02, 2017
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