Recordkeeping is the unglamorous backbone of a healthy business. Good records turn tax season from a panic into a printout, let you price on real numbers, and answer questions like "which product made me money this year?" without guessing. You don't need an accounting degree. You need to track a handful of things consistently.
What to track
- Sales: what sold, when, for how much, and through which channel.
- Costs: what your products cost to make (materials and labor).
- Purchases: what you bought from suppliers, and when.
- Inventory: what you hold in materials and finished goods.
- Expenses: the costs of running the shop, like fees, software, supplies, booth fees.
Why each one earns its keep
Sales and costs give you profit and COGS. Purchases and inventory let you reconcile stock and value it. Expenses complete the picture for net profit and taxes. Skip one and a whole question becomes unanswerable.
Keep it current, not perfect
- Record as you go. A little each week beats a year-end reconstruction.
- Keep receipts and supplier invoices, digitally if you can.
- Use one system so the numbers connect instead of living in five places.
- Hand clean totals to your accountant; don't make them (or you) dig.
You won't remember in April what you didn't write down in June. Good records are a gift to your future self.
Let the records build themselves
The best recordkeeping is the kind that happens as a byproduct of running your shop. Keepsel keeps your costs and stock as you work, and from the Maker plan your sales, with profit and tax reports you can export. Your records stay current without a separate bookkeeping chore, and tax time is a download, not a scramble.