Business Management Software for Craft Businesses

Let’s be honest, sorting the paperwork side of your business can be a mind-blowing chore at times! However as much as you despise it, accurate book-keeping is an essential business skill. Fundamentally the keeping of records is a straight-forward process as it is simply a matter of collecting information about the business then organising it. Once this process is performed then the records can be used to maintain good financial control – crucial for the survival of any business. Face facts - there is little point working yourself into the ground, even though it maybe doing something you love, only then to discover profits are not where you thought they would be!

At any point in time you should be aware of how much money your business has right now, where it is coming from, where it is going, how much you owe, how much are you owed and how much profit you are making.

As a qualified accountant I have come across business owners who put all of their receipts, invoices and other paper work into a plastic bag then just hand it over for me to sort out. I admit this is great for me -easy but time-consuming work for which the bill will be sky high! Don’t fall into this trap by becoming an accountants dream. Aside from this, and more importantly, doing this leaves you without up to date information about your business, unable to control your credit transactions and potentially falling behind in preparing your taxes.

There are plenty of good pieces of software out there to help you manage all aspects of your paperwork. One of these that has been designed with the craft business owner in mind is the Crafting Software Business Management System. It offers a good solution as it keeps track of all aspects of the craft making process thereby leaving you with more time free to make and sell your art. For example, by providing a means of organising suppliers it records how much you owe to each one whilst also documenting taxes paid on purchases, shipping costs, quantities received and ordered. It also allows you to keep track of customers – how much they have purchased as well as how much they owe you. Vital sales information is broken down by customer, sales tax recorded as well as invoice details, discounts and commissions. It organises inventory, both raw material and finished goods, and as this process is fully automated the information is always current. Other nice features that the software has are diary of notes, reminders and ideas, an ongoing to-do list, appointments, reminders and a deadline scheduler. It also provides a database to which you can add your favourite internet websites, notes, links and other resources.

With these sorts of pieces of software around there really is no need to loose control of your finances or to spend hours organising your craft business. So why give the accountant more money than you have to and invest in a business management system today.

By: Lorraine Smith

Lorraine Smith is a qualified accountant of 8 years standing and has worked for large companies in areas such as manufacturing and house building as well as in practice. Responsibility for the overall accounting function has meant her taking on several projects that have involved automating existing financial processes and providing businesses with fully integrated systems.Click here for more information on crafting software.

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