November 2012 Balance Sheet

November 2012

November was a wash, but I’d been expecting that due to National Novel Wiriting Month. Unfortunately the lack of income paired up nicely with a whole flurry of bills, so I’m deeper into the red that I had planned to be at this point.

But on a good note, I now have an official business computer (Chromebook) and the City of Newport News can tax a real $250 computer instead of an imaginary $3,000 one. *mutter*

The Breakdown

Income : $0.00

Nothing, nada, intet, res, niets, wala… but I have one more month in 2012 to try again. If nothing else, this year has been a very good learning experience!

Expenses : -$33.75

$3.95 Tax Online Payment Fee
$29.00 USPS PO Box (6 months)
$0.80 Etsy Fees

Ah the joys of reoccurring fees! But having a PO box will save me money when it comes time to renew the domain names next year (at least the ones I’m keeping), so it’s still better safe than sorry.

Inventory : -$0.00

Nothing moved in or out of inventory this month, but I’m going to sit down and do a proper accounting this month so I have it for the Schedule C. (It would be nice to have a solid inventory of every art supply I own, business and non-business.)

Taxes : -$42.50

$21.25 Business Equipment Tax (First Half)
$21.25 Business Equipment Tax (Second Half)

Thanks to the purchase of the Chromebook, I will owe the City of Newport News a whopping $5 next year for this tax– I only wish I had realized I needed to upgrade sooner!

TOTAL : -$76.25

Year to Date

$165.81 Income
-$430.94 Expenses
-$116.75 Inventory
-$76.45 Taxes
-$458.33 TOTAL

So far it’s costing me roughly forty bucks a month to run this business. Thankfully I won’t have to buy any more inventory for a while, but a lot of those expenses aren’t going to melt away come 2013.

Which means I need to do two things a) sell more stuff and b) cut costs. The second goal is a little easier than the first, but neither one is going to be a cake walk. *rolls up sleeves*

Time to get working!

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