We've used TurboTax fo
This forum is always been a good source for help for over a decade now.
My wife is a pt stylist with no employees who rents. She sells no products in her shop as most people just buy them at Walmart. She has this book that has a line for merchandise and inventory and she stores in there the cost of all the supplies she needs to run her business... shampoo color whatever.
We've always entered that amount in the inventory/cost of goods sold area and sometimes the product prompts for an opening inventory and an ending inventory which is generally always the same. Speaking with another stylist if I understood correctly they enter this information somewhere else but they weren't sure where.
Are we good putting it where we've been putting it for at least 10 years?
