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Must Have Flunked Political Campaign Accounting

January 6th, 2014 at 10:21 pm

The columns are filled in for 2013, the bottom lines have been totalled. I do not practice 'creative accounting', work in absolutely no spin, am perfectly honest, and completely transparent. And am happy and satisfied with the report!

Pretty Cheap Jewelry 2013 Year End Report:
Expenses (materials, fees, ads, postage) ~ $1,925
Income (sales, and only actual sales) ~ $2,000

WHEE - that is a $75 profit.

In coming weeks I will compute an acceptable measurement of overhead (sales tax, state tax, mileage for work travel, home workshop), and that will be a very good deduction on my total income tax.

Perhaps I err on the simple side of bookkeeping. I do not do year end inventory, do not claim questionable expenses, do not even obtain loans for expanding the business. I prefer to spend only what I make. AFTER I make it.

If anything, I underprice and don't include enough for my own labor or design skill to make more profit.

Well I sleep soundly. And that is good enough for me.

Can you campaign committee members who are reading, say the same thing?

++++ January Special ++++

Eternity Circle Necklace with Garnet (January Birthstone)

Simple and timeless, a garnet charm hangs inside an endless circle. This is a 2 strand weave. A flourish at the bail adds just the right amount of style. See more here



Priced to fit the frugal budget. A handmade original.

3 Responses to “Must Have Flunked Political Campaign Accounting”

  1. Petunia 100 Says:

    If your profit margin is that small, you should raise your prices. Smile

  2. pretty cheap jewelry Says:

    I should've included in the story ~ my goal was to come out near zero! Mostly because I don't buy alot of supplies recently (due to having stock on hand) so it is hard to raise the expense side of the ledger. And though I have a spreadsheet and enter expenses/sales often, I didn't keep a running subtotal. I did the management on the fly, whew!!

  3. creditcardfree Says:

    I think you can raise your prices, too! Even 20% on that item above would be reasonable.

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