hoops902
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Post by hoops902 on Jan 15, 2014 12:24:16 GMT -5
Well, now I'm really curious where Looney's unaccounted-for $12k is going! Could part of that have to do with taxes? How could you not know where $12,000 goes every month? Doesn't Doxie get about that much every year? Is Loony profit-sharing with the posters here? 12 posters total, each month someone gets Loony Snowflake money?
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tloonya
Junior Associate
What status?
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Post by tloonya on Jan 15, 2014 12:42:50 GMT -5
My head hurts! Merchant account, yes. I have a scanner and I scan my WIC checks directly into my bank account. Foodstamps same as cc. Except they do not take percentage. What do you spend that money on? You said you spent all of your cash collections on food to sell. What happens that CC deposits and WIC checks when they get to your bank account? Also, what about food stamps? You didn't say how you get paid for those. Okey... Here we go. I take ALL cash to the market to buy produce...HOWEVER that is not nearly is enough. I spent cash where they don't like checks. And whoever accepts checks I am writing a check. Also I am writing checks to all my grocery needs. It is...a lot! BTW I forgot my trash container services, I require to have 2 for trash and paper. $500 monthly.Also check written. For groceries it is fish frozen ($300-$500), fish fresh ($500), one company $500-$100, another company $1000, third company $500, and I am probably not listing anything.
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 15, 2014 12:47:12 GMT -5
and I am probably not listing anything. Truer words were never spoken.
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Deleted
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Post by Deleted on Jan 15, 2014 12:57:21 GMT -5
What do you spend that money on? You said you spent all of your cash collections on food to sell. What happens that CC deposits and WIC checks when they get to your bank account? Also, what about food stamps? You didn't say how you get paid for those. Also I am writing checks to all my grocery needs. It is...a lot! You said $4k a month, right?
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 15, 2014 12:59:03 GMT -5
Looney, how much is the check you said you write to the IRS every quarter? Is it written from your personal account or your business account? I'm still trying to locate the missing $12k you haven't accounted for yet.
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justme
Senior Associate
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Post by justme on Jan 15, 2014 13:01:06 GMT -5
Well, she just added another $3500 to her month COGS so there's some of the $12k.
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 15, 2014 13:02:21 GMT -5
Well, she just added another $3500 to her month COGS so there's some of the $12k. Not necessarily. I think Archie had already gotten an estimate from her of $4k for non-vegetable items. Her new numbers are actually lower than that, but I think she's talking about the same items.
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Deleted
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Post by Deleted on Jan 15, 2014 13:02:49 GMT -5
Looney, how much is the check you said you write to the IRS every quarter? Is it written from your personal account or your business account? I'm still trying to locate the missing $12k you haven't accounted for yet. I imagine it has to be additional grocery purchases that she is forgetting. If she is selling $24k of stuff for $45k she is making almost 50% margin. I just can't see that for a grocery store.
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justme
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Post by justme on Jan 15, 2014 13:05:50 GMT -5
Well, she just added another $3500 to her month COGS so there's some of the $12k. Not necessarily. I think Archie had already gotten an estimate from her of $4k for non-vegetable items. Her new numbers are actually lower than that, but I think she's talking about the same items. I was assuming since before she just mentioned produce that was not included. She did also say $100 in groceries but that's a lot more than what she just started and since it all started with "BTW I forgot" (and it's Loony) I figure assuming it's all stuff she forgot is a good bet.
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 15, 2014 13:08:49 GMT -5
I am also having about $15K monthly from WIC program and had $500 daily from farm thing for 6 month. I just realized that this makes her missing money even larger, on average. There's something like $90,000 sales here unaccounted-for from the summer.
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milee
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Post by milee on Jan 15, 2014 13:18:05 GMT -5
Looney, how much is the check you said you write to the IRS every quarter? Is it written from your personal account or your business account? I'm still trying to locate the missing $12k you haven't accounted for yet. A good chunk of it is the produce and other supplies that she pays for by check. In her earlier post, she says the cash she takes from the register isn't enough to buy everything and she needs to write checks. That was her issue in the past, she was writing checks without having the money in the bank to cover them, and I'm guessing that's why she got the loan - to fund operations.
Her COGS isn't just the cash collections amount, it's that amount plus whatever the total of the checks she writes is. She hasn't yet totaled up the checks or disclosed that amount so your guess is as good as mine.
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Sum Dum Gai
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Post by Sum Dum Gai on Jan 15, 2014 13:20:18 GMT -5
Stop estimating. Pull out your bank statements from Nov and December. Now go through those and figure out where your money is going.
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Deleted
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Post by Deleted on Jan 15, 2014 13:21:15 GMT -5
Stop estimating. Pull out your bank statements from Nov and December. Now go through those and figure out where your money is going. I imagine her statements make her head spin. There is probably so much shit going in and out that she can't make heads or tails.
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Deleted
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Post by Deleted on Jan 15, 2014 13:22:31 GMT -5
sounds like someone needs a good bookkeeper audit to figure out what is really going on
i would say cpa audit...but that will cost much more
who does the books anyway?
is it in a spreadsheet like quickbooks?
that would be fun reading
the p&l and the balance sheet
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justme
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Post by justme on Jan 15, 2014 13:23:47 GMT -5
Stop estimating. Pull out your bank statements from Nov and December. Now go through those and figure out where your money is going. I imagine her statements make her head spin. There is probably so much shit going in and out that she can't make heads or tails. She can black out all the account numbers and post scanned copies for us to go through.
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 15, 2014 13:27:34 GMT -5
Well, now I'm really curious where Looney's unaccounted-for $12k is going! Could part of that have to do with taxes? How could you not know where $12,000 goes every month? Doesn't Doxie get about that much every year? Is Loony profit-sharing with the posters here? Well, this explains so much!
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 15, 2014 13:53:28 GMT -5
Looney, I have a question that doesn't require too much math. If you had sales of an additional $90,000 this summer ($500 daily for 6 months, per you) from the farm, where did alll the additional money go? You said the farm had minimal expenses, so wouldn't you have had a whole bunch of extra money this summer that you didn't have last year? What did you do with it?
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mmhmm
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It's a great pity the right of free speech isn't based on the obligation to say something sensible.
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Post by mmhmm on Jan 15, 2014 13:55:21 GMT -5
That's what I assumed it was. But knitted checks are so much more interesting... I can knit, too. Somehow, though, I don't think my bank is going to take kindly to knitted checks. I don't know why I think that, but ...
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Deleted
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Post by Deleted on Jan 15, 2014 13:55:43 GMT -5
Looney, I have a question that doesn't require too much math. If you had sales of an additional $90,000 this summer ($500 daily for 6 months, per you) from the farm, where did alll the additional money go? You said the farm had minimal expenses, so wouldn't you have had a whole bunch of extra money this summer that you didn't have last year? What did you do with it? She did NOT make $90k from the farm...
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 15, 2014 13:57:08 GMT -5
Looney, I have a question that doesn't require too much math. If you had sales of an additional $90,000 this summer ($500 daily for 6 months, per you) from the farm, where did alll the additional money go? You said the farm had minimal expenses, so wouldn't you have had a whole bunch of extra money this summer that you didn't have last year? What did you do with it? She did NOT make $90k from the farm... It's what she thinks she grossed in sales.
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mmhmm
Administrator
It's a great pity the right of free speech isn't based on the obligation to say something sensible.
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Post by mmhmm on Jan 15, 2014 13:59:28 GMT -5
Tloonya, may I ask a question? Do you keep any sort of books? Do you write down what comes in vs what goes out, including all income and expenditures? I really have trouble following what's going on because it seems to come piecemeal.
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Deleted
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Post by Deleted on Jan 15, 2014 13:59:51 GMT -5
She did NOT make $90k from the farm... It's what she thinks she grossed in sales. Because she made $500 a day for a couple of weeks and somehow extrapolated that to six months.
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 15, 2014 14:00:24 GMT -5
Probably. But I'm curious as to where she thinks her $90k went...
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Sum Dum Gai
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Post by Sum Dum Gai on Jan 15, 2014 14:02:22 GMT -5
The evil banks probably stole it. They've been out to get her since she opened.
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NancysSummerSip
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Post by NancysSummerSip on Jan 15, 2014 14:54:47 GMT -5
Tloonya, may I ask a question? Do you keep any sort of books? Do you write down what comes in vs what goes out, including all income and expenditures? I really have trouble following what's going on because it seems to come piecemeal. I just laughed when I read that. You really had to ask that one, didn't you?
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mmhmm
Administrator
It's a great pity the right of free speech isn't based on the obligation to say something sensible.
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Post by mmhmm on Jan 15, 2014 15:01:54 GMT -5
Tloonya, may I ask a question? Do you keep any sort of books? Do you write down what comes in vs what goes out, including all income and expenditures? I really have trouble following what's going on because it seems to come piecemeal. I just laughed when I read that. You really had to ask that one, didn't you? I, ummm, I don't usually follow Tloonya's business threads, not being a business owner. I got into this one and started reading. I can't figure it all out for the life of me. Every time an expense comes up it's later found there's another one just like it, or worse, hiding in the bushes! I've got to wonder whether all this is written down, or stored, or something. Can you just open a business and start selling stuff without knowing how much you're paying for your location and associated costs, the stuff you're selling, and how much you're making after costs are deducted from sales? Really?
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swamp
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THEY’RE EATING THE DOGS!!!!!!!
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Post by swamp on Jan 15, 2014 15:02:50 GMT -5
I just laughed when I read that. You really had to ask that one, didn't you? I, ummm, I don't usually follow Tloonya's business threads, not being a business owner. I got into this one and started reading. I can't figure it all out for the life of me. Every time an expense comes up it's later found there's another one just like it, or worse, hiding in the bushes! I've got to wonder whether all this is written down, or stored, or something. Can you just open a business and start selling stuff without knowing how much your paying for your location and associated costs, the stuff you're selling, and how much you're making after costs are deducted from sales? Really? Loony can, although I don't recommend it.
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Sum Dum Gai
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Post by Sum Dum Gai on Jan 15, 2014 15:03:02 GMT -5
Of course you can. It's not a good idea, but you absolutely can.
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 15, 2014 15:04:06 GMT -5
No one will deny you from starting a busines when you have no clue what you're doing. They may not give you a loan, but if you don't need it (or can convince them to do it anyway), you're welcome to do whatever hair-brained plan your little heart desires until something implodes!
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sarcasticgirl
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Post by sarcasticgirl on Jan 15, 2014 15:05:08 GMT -5
and I am probably not listing anything. Truer words were never spoken. I just spit my tea...
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