Jewelry Designer Manager tool?

I've heard/read that this is a great tool... but I'm thinking it looks like
a lot of work. Is it really necessary do you think? I'm sure I have $1000
worth of beads sitting around here and I can't imagine entering them all in
to this program even if I did know how much each one cost.

I guess this might sound like a stupid question, but do I really have to
keep track of inventory for tax purposes? As long as I pay the sales tax on
items sold in my state, does inventory matter?

http://www.jewelrydesignermanager.com

Thanks

--
Pam Brisse
The Blue Between - hand crafted jewelry and bead art
http://www.bluebetween.com

On Tue, 10 Feb 2004 10:11:25 -0800, "Pam" wrote:

I've heard/read that this is a great tool... but I'm thinking it looks like
a lot of work. Is it really necessary do you think? I'm sure I have $1000
worth of beads sitting around here and I can't imagine entering them all in
to this program even if I did know how much each one cost.

I guess this might sound like a stupid question, but do I really have to
keep track of inventory for tax purposes? As long as I pay the sales tax on
items sold in my state, does inventory matter?

http://www.jewelrydesignermanager.com

Thanks

I just have to post this. I have no idea on how to help with your question.
Swoooooooosh! Right over my head. I thought this had to do with a program
to design jewelry! lol Anyway... I do hope someone can help you.

Harry
My Ebay Auctions are at http://snipurl.com/3okw

Thanks Harry and btw, great job on your first necklace! can't wait to see
what else you come up with. Amazing how so many of us can look at the same
beads and come up with such different ideas for them, isn't it?!
--
Pam Brisse
The Blue Between - hand crafted jewelry and bead art
http://www.bluebetween.com

"Harry" wrote in message
...

I just have to post this. I have no idea on how to help with your
question.
Swoooooooosh! Right over my head. I thought this had to do with a program
to design jewelry! lol Anyway... I do hope someone can help you.

Harry
My Ebay Auctions are at http://snipurl.com/3okw

On Tue, 10 Feb 2004 10:51:39 -0800, "Pam" wrote:

Thanks Harry and btw, great job on your first necklace! can't wait to see
what else you come up with. Amazing how so many of us can look at the same
beads and come up with such different ideas for them, isn't it?!

You are very welcome and I thank you so much. It is true that people
look at the same thing and see something completely different. It
never ceases to amaze me. I can't wait to see what I come up with next. lol

Harry
My Ebay Auctions are at http://snipurl.com/3okw

"Pam" wrote in message
...
I've heard/read that this is a great tool... but I'm thinking it looks
like
a lot of work. Is it really necessary do you think? I'm sure I have $1000
worth of beads sitting around here and I can't imagine entering them all
in
to this program even if I did know how much each one cost.

I guess this might sound like a stupid question, but do I really have to
keep track of inventory for tax purposes? As long as I pay the sales tax
on
items sold in my state, does inventory matter?

http://www.jewelrydesignermanager.com

Well, I can't really help with answers on the program itself, but I have
seen lots of positive comments on it from other jewelry makers. The one
negative was that the initial entry of inventory was time-consuming.

As for inventory, YES you have to keep inventory for tax purposes per the
IRS. If you sell retail or manufacture products you have to be able to
track raw material on hand, material cost of finished items that are not yet
sold, and cost of materials in items sold at the end of the year for your
tax return.

HTH!

Tanya

I use Peachtree Accounting, which while not intended specifically for
jewelry, will produce all the bookwork I need for a business.... I
think Jewelry Designer Manager looks good, but it's not worth it to me
to do double entry, or to spend the money and not get all the reports I
can get from Peachtree. OTOH, JDM would do a better job of keeping
track of finished pieces - lets you put a picture in with the record,
stuff like that.

Is taking an inventory important? Depends on how you are doing your
taxes. If you are just selling a bit, and paying income tax on your
personal 1040, and don't want to write anything off, then no. Just add
your income onto your 1040 and be done with it. Be aware that if it
goes over $400, you must also file schedule SE (self-employment tax) -
otherwise known as social security.

If you are truly trying to function as a business, and are wanting to
write expenses off, then yes, you must take an inventory. That is
because the IRS, for purposes of Schedule C (gains and losses)
calculates cost of goods sold as ending inventory minus beginning
inventory.

And from one who's BTDT, it's far easier to take an inventory when you
have less than $1000 worth of goods, than it will be later... :-)

Karin


Pam wrote:

I've heard/read that this is a great tool... but I'm thinking it looks like
a lot of work. Is it really necessary do you think? I'm sure I have $1000
worth of beads sitting around here and I can't imagine entering them all in
to this program even if I did know how much each one cost.

I guess this might sound like a stupid question, but do I really have to
keep track of inventory for tax purposes? As long as I pay the sales tax on
items sold in my state, does inventory matter?

http://www.jewelrydesignermanager.com

Thanks

--
Pam Brisse
The Blue Between - hand crafted jewelry and bead art
http://www.bluebetween.com

Thanks Tanya, I guess I'd better get a call in to my accountant. When I
asked a friend who has a retail business what the differences for me would
be vs. my service biz (websites) she said it was mostly just sales tax. If
she said anything about inventory it must have gone in one ear and out the
other. Darn, I have some work to do


"Magik" wrote in message
...

Well, I can't really help with answers on the program itself, but I have
seen lots of positive comments on it from other jewelry makers. The one
negative was that the initial entry of inventory was time-consuming.

As for inventory, YES you have to keep inventory for tax purposes per the
IRS. If you sell retail or manufacture products you have to be able to
track raw material on hand, material cost of finished items that are not
yet
sold, and cost of materials in items sold at the end of the year for your
tax return.

HTH!

Tanya

Hmnn... Quicken came on my new compuer and I have MS Money so I'll look and
see if they have any sort of inventory tool. I'm not really sure where to
start as I have no idea how much most of the beads I have cost - though I
did save the receipts so at least I have totals. Yikes. Good thing it's the
begining of the year and not the end of it - I've only sold about 10 pieces
so far.

Thanks
Pam


"Karin Cernik" wrote in message
...
I use Peachtree Accounting, which while not intended specifically for
jewelry, will produce all the bookwork I need for a business.... I
think Jewelry Designer Manager looks good, but it's not worth it to me
to do double entry, or to spend the money and not get all the reports I
can get from Peachtree. OTOH, JDM would do a better job of keeping
track of finished pieces - lets you put a picture in with the record,
stuff like that.

Is taking an inventory important? Depends on how you are doing your
taxes. If you are just selling a bit, and paying income tax on your
personal 1040, and don't want to write anything off, then no. Just add
your income onto your 1040 and be done with it. Be aware that if it
goes over $400, you must also file schedule SE (self-employment tax) -
otherwise known as social security.

If you are truly trying to function as a business, and are wanting to
write expenses off, then yes, you must take an inventory. That is
because the IRS, for purposes of Schedule C (gains and losses)
calculates cost of goods sold as ending inventory minus beginning
inventory.

And from one who's BTDT, it's far easier to take an inventory when you
have less than $1000 worth of goods, than it will be later... :-)

Karin


Pam wrote:

I've heard/read that this is a great tool... but I'm thinking it looks
like
a lot of work. Is it really necessary do you think? I'm sure I have
$1000
worth of beads sitting around here and I can't imagine entering them all
in
to this program even if I did know how much each one cost.

I guess this might sound like a stupid question, but do I really have to
keep track of inventory for tax purposes? As long as I pay the sales tax
on
items sold in my state, does inventory matter?

http://www.jewelrydesignermanager.com

Thanks

--
Pam Brisse
The Blue Between - hand crafted jewelry and bead art
http://www.bluebetween.com

I'm not really sure where to
start as I have no idea how much most of the beads I have cost - though I
did save the receipts so at least I have totals. Yikes.

I know, I know! I've been accumulating my bead stash since......1966. Thank
goodness I sell only one piece every 3 months (if that). I don't make enough
to qualify. THANK GOD!
~~
Sooz
-------
"Those in the cheaper seats clap. The rest of you rattle your jewelry." John
Lennon (1940 - 1980) Royal Varieties Performance
~ Dr. Sooz's Bead Links
http://airandearth.netfirms.com/soozlinkslist.html

1966!!! Your whole house must be full of beads!!!

"Dr. Sooz" wrote in message
...
I'm not really sure where to
start as I have no idea how much most of the beads I have cost - though I
did save the receipts so at least I have totals. Yikes.

I know, I know! I've been accumulating my bead stash since......1966.
Thank
goodness I sell only one piece every 3 months (if that). I don't make
enough
to qualify. THANK GOD!
~~
Sooz
-------
"Those in the cheaper seats clap. The rest of you rattle your jewelry."
John
Lennon (1940 - 1980) Royal Varieties Performance
~ Dr. Sooz's Bead Links
http://airandearth.netfirms.com/soozlinkslist.html