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How to handle not having sub categories?

GilliganGilligan Member Posts: 3

So currently we use an old version (2011) of QB.

I want to add the ability to email an invoice and get paid quicker... So I thought Wave might be the answer.

Now I'm looking and I'm feeling like I'm taking a step backward from the 2011 QB?! :neutral:

We are a screen printing, embroidery, signs, and promotional shop.

We do various methods of embellishment on clothes as well as sell the other stuff. Currently we have Screen Printing and then it breaks down into sub accounts of things like Contract printing, custom ink mixing, setups and so on. A better example is the promotional items.

Under promotional items we sell; business cards, pens, koozies (can huggers), folders, banners, tri-fold brochures, flyers, stickers, and various other things.

So not only can we look at reports at a glance and see how much we did in Screen Printing vs Embroidery vs Promotional Items, but we can then see which promotional items worked best for us as well. Does it make sense to run promos for pens vs koozies for example? Are we wasting our time dealing with folders because margins aren't as good? That sort of thing.

Is there a way to handle this that makes more sense than what I'm seeing?

I feel like Wave is in its infancy. :disappointed:

edited March 31, 2021 in Accounting Technical Support

Comments

  • BarsinBarsin Member, Moderator Posts: 2,041 ✭✭✭

    Hey there @Gillian

    It's hard to determine whether Wave is the right fit for a business or not as it varies from business to business . For example, we don't actually offer inventory tracking for quantities of your product. We do offer a workaround which you may find helpful in this article on Inventory in Wave. NOTE: Wave does not calculate or track the unit value of inventory for your business - this workaround only works after you've calculated the monetary value of your units.

    The idea would be to keep your chart of accounts as specific as possible documenting all of your income and expenses on an itemized level.

    Though Wave operates best for small businesses such as consultants or those with low inventory, others have found wonderful workarounds here in our community to show more complex bookkeeping.

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