Wednesday, February 28, 2007

Tax Time, Blah...

I am here preparing my taxes to take to my accountant. I can't even believe how long it takes me just to get them ready for her. First, there's the filing of all the receipts then the finding of all the bank statements, deposit slips, etc. After that there's printing out things like my Etsy, Paypal and Earthlink bills. I have to enter my inventory numbers from Jan. 1 and print an inventory valuation summary and then finally (FINALLY) I get to go through all of my checkbook spreadsheets, fill them out and add up all the columns for the whole year. Even with help (thanks, Doria!), it takes me at least 12 hours.
Why, you may ask, don't I keep after this all year? Why don't I just enter everything into Quickbooks and just take my accountant a CD? Believe me, I've tried and, after ten years in business, I'm fairly sure it just isn't going to happen. I've been telling myself that now that I'm not running the Knit Out any more, I'll have time to catch up on this stuff in the summer but I'm not so sure. I've made attempts over the years but so far I've only gotten up to 2004. I have dreams of hiring a bookkeeper and this may be the year that I actually do it. After all, if I want to have a 'big girl' yarn shop, I really should keep up with this stuff, don't you think?

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