Bookkeeping for the Quilt Business Owner

by Mary Emma Allen on December 18th, 2006

Many quiltmakers and fabric artists are involved in a fascinating hobby. Others begin to see this as a way to earn income and develop a home based business.

Once you’re involved in a business, you’ll need some way to keep track of earnings and expenses, a way of making sure your checkbook is balanced (this is a good idea even if you’re not in a business!), and the ability to determine what aspect of your art is worthwhile.

You’ll find various bookkeeping systems to consider if you aren’t using one. Nowadays there are systems to put onto your computer. Perhaps you already are consulting an accountant for your taxes who can advise you for a home business. Any bookkeeping you do on your own does help your accountant. With some bookkeeping and tax preparation systems, you may find you can do it on your own.

These are just a few ideas to research.