As an Etsy Seller, you’re constantly sourcing the raw materials you need to create your handmade items. But it's easy to forget where you purchased an item, the price you paid, or the product ID. That’s why it’s a good idea to keep track of your inventory information.
But let’s be honest. You didn’t start your Etsy shop so that you could keep up with your raw material—you started it so you could generate an income by sharing your creations with others. Fortunately, keeping good inventory records isn’t complicated. You can either create a spreadsheet or use a printable sheet like this.
This handy product inventory printable will allow you to have all information at your fingertips. Plus, if you find a new supplier, you will be able to determine very quickly if their price is better or worse than your previous supplier. For any supplies you are regularly purchasing, jot them down on this pretty printable for quick reference in the future.
The other feature of this handy printable is that doing your end-of-year inventory count will be a breeze. All of your major raw materials are already listed along with the price per unit. All you need to do is a quick count of the items you have on hand at year-end.
Once you complete your count, just add the numbers to the printable and calculate your year-end inventory value. You will need to know this dollar value for your end-of-year taxes. The value of your ending inventory will be included on page 2 of Schedule C.
I know the tax and bookkeeping part of your Etsy business can sometimes feel overwhelming. That’s why I created a series of YouTube videos that walk you step-by-step through your Etsy shop bookkeeping. You can find them here.
I’m a firm believer in keeping business simple, and this product inventory sheet will help you do that. You can purchase this downloadable file in my Etsy shop and print multiple copies to use in your business. Easy peasy!Related Posts
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