Method to keep track of expenditures

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rlharding

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Joined
Nov 20, 2007
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Location
Nr Vancouver, BC
I have never kept track of what I bought, made, and sold. Since I have spent an extraordinary amount of supplies and had some serious sales in teh last month I would like to start keeping track. Does anyone have an excel sheet or a standard format that they would care to share?

Thanks,

Ruth
 
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I have a better solution that works for me, keeps track of every cent I spend, constantly reminds you of seroious overspends etc..

Yep, my wife! lol [:eek:)]
 
My method is simple. I like simple. [:p] I bought three of those plastic wall pockets. Two are hung in my office, one in my shop over the workbench. The pocket at the bench gets receipts for all expenditures of parts, tools, equipment, etc. One in the office gets my shipping and postage receipts, the other gets paid invoices and notations of other income. At the end of the year, I just bundle them and my accountants secretary totals.
 
Since my penturning is a hobby, I am not all that concerned with my balances etc. being to the penny accurate.
Having said that I am weak on staying within a budget.
I have set up a pay pal account that not only makes it easy to take payments from my web site. it also allows me to transfer my fun money to it. I buy all my stuff through it that way I don't spend more than I decided to.
I also use the penventory to track my kits, blanks etc. but it is not a complete system as it does not allow for things like glue, sandpaper, tools, repairs, travel, show fees, and many many more costs. I am not good about keeping the penventory up to date though. it would be simple though if you simply set down and entered every receipt you have into it. it is the logging out the kits and materials that I don't seem to get around to doing.
 
Thanks guys. I don't mean to sound ungrateful but when I said I was looking for a tracking system I meant I was looking for a tracking system.

Rather than insinuate that I am mad to want to track anything because you don't, just don't reply OK?

Thanks so much Drayman, really appreciate you addressing my question. I will take a look.
 
Did I miss something? you got one wise crack and three replies to your question. and two of those replies include the same method, Penventory.
 
Originally posted by rlharding

Thanks guys. I don't mean to sound ungrateful but when I said I was looking for a tracking system I meant I was looking for a tracking system.

Rather than insinuate that I am mad to want to track anything because you don't, just don't reply OK?

Thanks so much Drayman, really appreciate you addressing my question. I will take a look.
Click to expand...


Somebody is very touchy-touchy.
I responded based on the title of your thread. The first post you put up asks something quite different.
Suggest if our attempts to help bother you so much, this may not be the place for you.
 
Hi Ligget, you didn't offend me at all. I expect 'smart' comments on any forum I am on, they are usually very funny. I was certainly having a touchy night, probably because I hadn't managed to get a present turned for my friends birthday party last night.

Frank
After asking for an excel sheet or other standard format, your post had nothing to do with either. Buying plastic wall containers and giving them to my accountant at the end of the year has nothing at all to do with an excel sheet or standard format......So contrary to your statement, I am not sure how that equates to answering my question.

After reading your response here I am now confused by the PM you sent me.

It would seem that one can't have a little complaint without being informed this might not be the board for them.......interesting, I'll keep that in mind.
 
Originally posted by rlharding

Hi Ligget, you didn't offend me at all. I expect 'smart' comments on any forum I am on, they are usually very funny. I was certainly having a touchy night, probably because I hadn't managed to get a present turned for my friends birthday party last night.

Frank
After asking for an excel sheet or other standard format, your post had nothing to do with either. Buying plastic wall containers and giving them to my accountant at the end of the year has nothing at all to do with an excel sheet or standard format......So contrary to your statement, I am not sure how that equates to answering my question.

After reading your response here I am now confused by the PM you sent me.

It would seem that one can't have a little complaint without being informed this might not be the board for them.......interesting, I'll keep that in mind.
Click to expand...

Try reading the title of the thread that YOU posted.
 
Ruth,
I use EXCEL for our pen business, and would be willing to send you a copy of the format I use. What is it you are wanting? I set up a different page for the following:
kit inventory
purchases
finished products (1 page for pens, 1 page for bottle stoppers, 1 page for pepper mills)

I have formulas set up for our pricing so I just enter in the costs and the program does the rest, this works for most of our pens some I have to do manually.
PM me with you email address if you would like a copy.

Have a wonderful CHRISTmas!
Dawn
 
Toolcrazy & Winpoo, thanks, I am having a look at penventory to see if it will work. I am not looking for an accounting level tracking, just a way I can log what I am buying, what I am paying on shipping, what I am paying on customs duty, and what I am making from selling.

I literally have no idea if what I am making goes anywhere near to paying for not just the supplies, but also the extra tools I am buying(new mandrel, drill bits, sandpaper, glue, etc.) Right now I am just doing a tally of some sort in my head but want a bit more accuracy.

Thanks!
 
Many of the things mentioned provide a basic functionality when you try to record your business transactions. The question truly becomes one where you ask yourself how dedicated you are to making this a business.

Using Excel or the Penventory software to track expenses and purchases only records what you spent and a basic knowledge of what you have in inventory.

I have spent numerous hours developing Quickbooks to track my kit inventory and finished goods by type of product. I feel I had to go to this measure so I could truly know the margins I'm making. For example, I shoot for a margin of 60-75% after direct materials cost to ensure I pay for booth fees, overhead, and labor. I can tell that my pens often return the 75% margin but other things are much lower because I need to sell them at a lowere cost just to get them moved.

So, the question I'll ask is....What is your need?

Rick
 
Thanks for all the great suggestions and links. Joe's pens is looking like my favourite so far.

Rick, The above or penventory are going to work for me. I don't do this as a business, just a hobby, albeit a very expensive one. All I have been looking for is a method of documenting what I buy and what I make from sales. I don't have to justify my expenditures to anyone, there isn't a measurable difference to my taxes....I just wanted a method.

Thanks again all. I know one of the above will work after giving them a look-see.
 
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