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April 19, 2018

Some Things Only Your Balance Sheet Can Tell You

Since retiring from my full-time pursuits a few years ago, my wife Jill and I have begun to go grocery shopping together. Well, perhaps “shopping together” is a misnomer. We enter the store together, to be sure; but I’m given a list and a hand basket, Jill takes a cart, and we go our separate ways. I spend the next 90 minutes alternately waiting for items to jump off the shelf into my basket and wondering where Jill is.

A few weeks ago, while wandering dazed through the snacks and chips aisle, my phone rang. The call was from a reader who wanted my recommendation for accounting software for her business. Relieved to be back in my own world, I sat on a bench in the front of the store and quizzed her about her business.

Her business model is a common one for a modern antiques business: a combination of estate sales, antique shows and Internet sales selling a mixture of consigned and purchased inventory. As we spoke, it became clear to me that although she was savvy about how to track her inventory and sales, she really didn’t fully grasp (although she suspected) how having a cohesive accounting system could transform her business. Read More

Originally posted 2014-01-01 09:07:00.

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About Wayne Jordan

Wayne Jordan is a Virginia-licensed Auctioneer (#3481), as well as an AIA and CAGA Certified Personal Property Appraiser. Learn more at http://www.resaleretailing.com/wayne-jordan-auctioneer-appraiser/

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