I was thinking this morning, I need to go back through my account n see how much I’ve spent on reborning. Before I started reborning , my thing was electronics, cellphones, iPads n other gadgets. I knew what I was spending. But, now placing orders with several different websites, 2 to 3 times a week, I haven’t kept up. Does it matter to you the amount you are spending? Do you have a set amount every month? When you sell a reborn, do you use that money for more reborn supplies or you use for something else?
I try not to keep up with what I’m spending
I do have an excel spreadsheet set up to record expenses and my sales. Last year I actually came out in the black by about $200. On paper that is, but I’m sure I didn’t put everything on paper.
Im afraid to keep track lol. I have all my records but havently actually added it up. Im pretty sure im in the red right now. Hoarding too many kits
I know nothing about “business”, and will be lost when I do start trying to sell some of these babies! I guess the IRS needs to know about it, huh? I might need to start a spreadsheet of some sort
I use Quicken to track all of mine. We will see how it looks at the end of the year I guess.
Absolutely. I have running exel documents that track sales and outlay costs. I order as I need too and always work on 5 dolls at a time. Means I can keep painting and creating while waiting for babies to dry and cure or rooting.
When I get my shipment I alocate parts and record in my data base and then I file my invoices. With dolls I have up for adoption, they have their own cost sheet which automatically calculates selling price. Then I have the big sales and purchase log. I think keeping paperwork is essential to the reborning process.
Ui might need to use quicken. Just to keep up on how much I’m spending.
I know I spend a LOT!! And I am NOT a seller so-------what does that tell you???
I not a seller either, not yet anyway. You would think I was with all the kits I have. For someone who just started. They have kits on sale today n I’m gonna buy 1 or 2 before tonight is over.
I try not to keep track.
So those of you who don’t keep track but do sell, you don’t report at the end of the year on your taxes? Do we even have to? I keep track for that purpose. That and the hubby is always asking if I even make any money. LOL
Not sure if this helps anyone… Taxes 101: Understanding the Essentials
I kept track of my expenses last year, and my profit was $.0 for I ended up being -$600.00 as far as sales - expenses and I gave 11 babies away (donation, friends, family, swap) I made a total of 30 babies last year but I had purchased a total of 45 kits completed 30 kits sold 10, donated 11, 9 either keepers or still for sale for this year.
Now I have to do better this year and sale enough so that I am not in the negative this year as far as sales - expenses. I was expecting the first year to be in the negatives but this second year should be much better. I have a book of Inventory with prices so that I can better price finished babies so that I don’t take any losses this year I hope, and my painting skills have improved to where I can price my babies at a higher price so that should help with not being in the negative at the end of this year.
thank you for the question lovely lady …No I do not want to know at this time…I may and up on the floor and be in shock …and what will happen to my kids
I have a separate bank account for my dolls, and anything that I buy for reborning comes out of that account, all money from sales go to that account, and therefore it is painfully obvious I am still about $2000 in the red in the long run. Otherwise, I put all the receipts into a special folder in my file cabinet, add it once a year and work out the difference between money in and out, and it is always more out then in
NO way I’d keep up with it that’d be evidence that could be used against me ! I plead the 5th