Hey everyone,
First year in business and it's going better than I expected. I was going to wait a year or two, just to test the waters, then add on a few other services. Well, I've had ALOT of requests for screen repair or replacement. I have done a few and just purchased the materials as needed. Now that I've seen the real profit potential I would like to advertise it as an optional service. I'm just kind of caught up as to whether I want to take on the additional accounting procedures (the way I understand them), and it just happens to be a fluke that I've had so many requests. My question is, how do you guys account for your screen repair materials?
From what I understand, if you have any raw materials, you must have a beginning year and end of year inventory. BUT, if you are a "qualified taxpayer" then you can use any "accepted method" to account for your materials used. Do any of yous know what another "accepted" method may be.
If the only way to carry a stock of supplies IS to keep an inventory record, then I may just purchase supplies as needed.
The bulk v. store price isn't really much of a difference. The problem with this method is availability of supply. I.e. Lowe's and Home Depot in my area only carry one frame...New York Wire 7/16". Is this the most common screen frame yous have come across?
Has anyone used New York Wire products? Quality?
What, in your opinion, is the best quality screen manufacturer for the money?
Typical charges for re-screening, custom built (average double hung window)?
Sorry for the novel of a post....any help, tips, advice is greatly appreciated.
First year in business and it's going better than I expected. I was going to wait a year or two, just to test the waters, then add on a few other services. Well, I've had ALOT of requests for screen repair or replacement. I have done a few and just purchased the materials as needed. Now that I've seen the real profit potential I would like to advertise it as an optional service. I'm just kind of caught up as to whether I want to take on the additional accounting procedures (the way I understand them), and it just happens to be a fluke that I've had so many requests. My question is, how do you guys account for your screen repair materials?
From what I understand, if you have any raw materials, you must have a beginning year and end of year inventory. BUT, if you are a "qualified taxpayer" then you can use any "accepted method" to account for your materials used. Do any of yous know what another "accepted" method may be.
If the only way to carry a stock of supplies IS to keep an inventory record, then I may just purchase supplies as needed.
The bulk v. store price isn't really much of a difference. The problem with this method is availability of supply. I.e. Lowe's and Home Depot in my area only carry one frame...New York Wire 7/16". Is this the most common screen frame yous have come across?
Has anyone used New York Wire products? Quality?
What, in your opinion, is the best quality screen manufacturer for the money?
Typical charges for re-screening, custom built (average double hung window)?
Sorry for the novel of a post....any help, tips, advice is greatly appreciated.
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