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26 Posts
Hi all,
this is my first real fiscal year for my clothing line. Last year my H&R Block accountant told me, from now on, I should be accounting for end of year inventory. I never really thought to ask why. As I searched through threads on this forum, (always super helpful and usually leaves me with even more questions
it seems that there is a difference between supplies and inventory. Based on whether the blank has been embellished?
I print on demand only, transfers, so I never have any stock of printed T shirts, but I have hundreds of blanks, and thousands of transfers. I was planning on reporting everything as supplies.
Is there a good resource out there for helping me understand this? Preferably something specific to t-shirt producers? Any help would be appreciated, but a tutorial would be greatly beneficial.
Thanks,
Dave
this is my first real fiscal year for my clothing line. Last year my H&R Block accountant told me, from now on, I should be accounting for end of year inventory. I never really thought to ask why. As I searched through threads on this forum, (always super helpful and usually leaves me with even more questions
I print on demand only, transfers, so I never have any stock of printed T shirts, but I have hundreds of blanks, and thousands of transfers. I was planning on reporting everything as supplies.
Is there a good resource out there for helping me understand this? Preferably something specific to t-shirt producers? Any help would be appreciated, but a tutorial would be greatly beneficial.
Thanks,
Dave