Tag: Accounting

  • VA ST-9 - Virginia Sales Tax

    Surviving the ST-9 (Virginia Sales Tax)

    (NOTE: This post was written in 2012 and the tax rates and form appears to have changed significantly since then.) February has arrived and it’s time to do January’s ST-9! Although the Sales Tax payment isn’t due until the 20th, I’ve found it’s always easier to do it on the first when I do all […]

  • January 2012 Balance Sheet

    January wasn’t the best way to start off the year, as you can see below, but I did get the underlying structure of the business settled into place, so it wasn’t a total wash. I have the rest of the year left for things to sort themselves into working order, so there’s lots of room […]

  • Planning for Overhead Costs

    One of the things people often forget when thinking about starting a crafting business is the overhead costs. Overhead costs are those costs not tied directly to a single art or writing project. In a normal brick and mortar business these would be things like rent, utilities, and administrative salaries. They are all bills that […]

  • Calculating Model Horse Body Costs

    Because I use project costing to calculate COGS (Cost of Goods Sold) for the model horse customs, my micro-business is responsible for keeping track of the cost of the individual finished and average unfinished inventory costs. Now that my first ‘body order’ has come in, it’s on to the fun part of breaking out how […]

  • January Stablemate Body Replacement Costs

    Even though I am tracking the average costs of each model horse body that I buy (details to follow) I use the Replacement Cost to calculate the body costs for custom orders and for bringing in stock from my own personal collection. Replacement costs are calculated from what it would cost me to buy a […]