End-of-Year Reporting for your Bridal Store

As the year comes to an end, make sure you are pulling all the necessary reports your bookkeeper, accountant or you need in order to make tax season a breeze.

Pull an On Hand Quantity Report

Before the December 31st, you will need a record of all the inventory items in your store along with a quantity count, stock price and inventory cost.

Poppy Users: You can accomplish this by pulling the On Hand Quantity Report. With this report you can either select all or filter by departments, vendors, or availability to get the data you need.

Perform an Inventory Count

Performing a physical inventory count needs to be done on or as close to December 31st as possible. This will help you know what you physically have in your store at year end, and will most definitely be needed when preparing your taxes. Doing this after the new year may cause some issues when it comes to filing taxes, so be sure to ask whomever prepares your taxes for best practices.

Poppy Users: See How To: Perform an Inventory Count within the Poppy Training Library.

Other Important Poppy Accounting Reports

We know everyone’s business situation is different, so Poppy provides both cash based and accrual based accounting reports. These can be pulled whenever you need them, just remember to change the date range to the timeframe you need.

Accrual Based Reports

• Cost of Goods Accrual
• Sales Tax Liability Accrual
• Sales Realized Accrual

Cash based Reports

• Cost of Goods
• Tax Liability
• Sales by Vendor/Department

View the Poppy Reports Glossary for more info on each individual report type.