The Paperwork Side of My Cake Business - Order Forms & Tax Records
ฝัง
- เผยแพร่เมื่อ 15 ต.ค. 2024
- Paperwork can be daunting and boring, but I came up with a system that works for me. It's important to keep your orders organized. In this video, I show you how I fill out my order forms and how I log my sales and deductions to keep meticulous tax records.
BLANK ORDER FORM:
drive.google.c...
BLANK SALES TEMPLATE:
(You must click FILE, MAKE A COPY to save it to your drive. If you edit the template in this link, it is public view and everyone will be able to see it!)
docs.google.co...
BLANK DEDUCTIONS TEMPLATE:
(This is made for me, so you will have to change or remove things to modify to your liking.)
docs.google.co...
TOOLS I USED:
3 RING BINDERS - amzn.to/38TjRMh (I like using different colored ones so I can easily tell what year they are for.)
3 HOLE PUNCH - amzn.to/2Kl0YYA
MONTH DIVIDERS - amzn.to/38TLdCf
HIGHLIGHTERS - amzn.to/3pF2O6N
PLASTIC FILE BOX - amzn.to/2Kgwnv7
LEGAL FOLDERS - amzn.to/3f9nO0u
HANGING FOLDERS - amzn.to/3pIa69E
For the weekly overview sheets, I just got stationery paper (because I wanted it to look pretty) and used that. You can just use plain paper if you want!
Follow me on social media!
FACEBOOK: / karolynskakes
INSTAGRAM: / karolynskakes
PINTEREST: / karolynskakes
Check out my website:
www.karolynskak...
Please subscribe to see my new videos! bit.ly/2O1QASr
All songs used from TH-cam Audio Library
Intro Song: Dive Down by VYEN
Background Song: Blurry Vision by Corbyn Kites
End Song: Benji by Dyalla
If you have read all of this, thank you! I really appreciate your support!
I read all comments and try to respond the best I can. 😊
Please follow me on Instagram and you can DM me the types of videos you would like to see.
Xoxo,
Karolyn
#KarolynsKakes #Cake Business #TaxRecords
______________________________
Karolyn’s Kakes provides cake decorating tutorials and tips to help you make amazing cakes.
Thank you for coming to my channel!
Disclaimer: This description contains affiliate links that allow you to find the items mentioned in this video and support this channel at no cost to you. While this channel may earn minimal sums when the viewer uses the links, the viewer is in NO WAY obligated to use these links. Thank you for your support!
***I filmed this in HDR with my new iPhone, so if your device doesn't support HDR video, it may look bright or washed out. I'm trying to figure out this new technology!***
Hi where’s the order form?
@@MLKLegacy2 email me at Karolyn@KarolynsKakes.com and I'll send the order form!
@KarolynsKakes I want to take this moment to thank you, thank you so much... I've started making cakes exactly a year ago, and if there's one person I've learnt a lot from when it comes to cakes, it has to be you... You're making a big difference in our businesses... I love you, I appreciate you...
Thank you so much for sharing this! You made my day 💜🙏
Thanks for sharing this video, this just make me admire you even more, no many bakers show and share this side of the work! 👍🏻💕
This was really helpful, this is one side of the business that's frustrating. I am really greatfull for having found you.
Happy to help!
Hi Karolyn, Thank you for sharing your paperwork side of your business. Your videos are always full of helpful tips. I have been binge-watching your videos for the last couple of days since I found your channel. I will email you for a copy of your cake form.
Thank you Kenya! I actually am trying to send it and it's not going through. If you don't get it, can you please email me directly at Karolyn@KarolynsKakes.com instead of filling out the form on my site and I'll reply to that?
Very good!! *I'm a tax preparer and I wish all my clients do it like you. I'm going to refer this video for them to watch!!! Suggestion: Scan receipts. They fade.
Thank you!! My accountant loves me 😂
Is there an app to use to scan the receipts?
You’re not odd nor weird. You’re so organized!
Thank you for sharing!
You’re wonderful!
I'm a little weird though 😂😂 But seriously though, thank you!
@@KarolynsKakes I love your personality. You’re wonderful. Not weird at all.
Hugs from Montreal, Canada. 🤗
Girl I love, love, lovvvve your channel!! This is soooo helpful. And you make me laugh. I'm literally binge watching all your videos!!! Thanks for everything!
Yessss girl! I'm happy to help! 🙌🎉
Yup you Rock
Thank you so much for taking time out for sending this important info. Im starting asap. God bless, take care. Love from South Africa
You're welcome, good luck with it!
Thanks Karolyn for making this video. It is so detailed and informative. I used to only do 1 or 2 cakes a week. From last week it's been 4 cakes a week and I just came straight to your channel to look for this video..!!
Congrats Shirley! It's best that you get everything organized now, it will be so much easier when tax season comes around. 💜🙏
Thank you. You are so awesome for sharing all your tips & tricks.
Thank you sooo much for this video I had no idea where to start with tracking my home bakery orders !
You're welcome! It's not the most fun part, but it's so much easier when everything is organized. :)
WOW! You are very organized!
Thank you!!! I would like more videos on this topic pls.
Another great video! Sounds like you have your excel spreadsheet all organized, but incase you’ve ever wanted to check out CakeBoss software, it’s a game changer. I still hand write my orders, but also enter the order to send invoices. It keeps track of all your repeat customers, you can attach pictures to your customer orders, either their inspiration photos and also a picture of their final cake. You can keep your recipes, track your expenses, mileage, etc, and at tax season, it’s easy to just print a report. I just like that it’s all in one place. Anyway, thanks for all your knowledge, look forward to your videos!
Thank you for the tip! I briefly looked into it years ago but I'm sure it's much different now. I appreciate it!
Hi Karolyn!!! First off, thank you! Thank you for your time, effort, knowledge, engagement, and selflessness in everything you do! Quick question - it looks like you don’t do any signed cake contracts. Is that accurate? Is your deposit basically the contract? And I guess the communications from your clients? I guess I am wondering about how you deal when a customer switches up on you, like I said this flavor not the one you made. And also how you let customers know about your policies like any refund scenarios? Just play it by situation?
I have all the info in my email that I send to everyone, I talk about it in this video, where there's a link in the description to the emails I send out: th-cam.com/video/2t1pNBeknwo/w-d-xo.html
The email covers everything that would be in a contract. I do use contracts if people ask or for really big orders. But I find in unnecessary to do them all the time as it's too much paperwork to keep track of.
In the email, it states that no changes can be made within 10 days of pickup. All correspondence is through email so there is a conversation trail. It also says in my email that cancellations within 10 days may forfeit the deposit. Each refund scenario is unique, so it depends on the situation!
Karolyn you must be a Virgo star sign. I can relate to you! Thanks for the heads up
I'm a Cancer 😊
@@KarolynsKakes LOL I was close!
Love your video"s! I so a similar folder but I use the vinyl pocket sheets & place order form, pictures, checks etc. in the vinyl see through pocket. Just a suggestion. I like you organization!
Great idea! That easily keeps everything together, I love it!
You are so awesome for this! I do this but on a more automated level with google sheets and google forms. Organization is key. Every time I get too busy and skip just one step, I forget something! Smh
Yes! You have to go through all the steps or something will go wrong!
I been watching your videos and you are Amazing and I’m super happy I found your channel…I’m hoping to gain enough confidence in my timing and art of creating cakes that I can do more than 1 cake order a week…You Rock 🥰
Thank you Yvette 💜
You got this! You'll grow when you get out of your comfort zone!
Thank you so much for helping explain everything in a very concise way. I really appreciate the help you are offering!! 💛💛💛
You’re welcome Christine! This isn’t the fun part (at least not for me lol) but it’s necessary and having everything organized makes it so much easier!
Hi, I am starting a small business, thank you for your information, so you know I watch all your bakes videos and I loved it🧁😊
You're welcome Marcela! Good luck!😊🙌
Hi kayolyn! I found your page last night and I'm so glad that I did! You are so informative and helpful with many tips and tricks. I've been beng watching all night. Lol
New subscriber! Thank you! 💕
Yayyy!! You're welcome, Crystal! 😊🙏
A TH-cam short video came up of your order taking process and it was very helpful. I appreciate all the time you take to help the cake community, especially newbies like myself. I was trying to find the full video because there is no description box to see the links for the paperwork and I do not see all in this video. Is it possible to get the link to that video?
Hmmm I’m not sure what you’re asking for? I just looked and the links for the paperwork are in the description. You may have to click “more” to open the description box.
Hi Karolyn I’m so happy I found your channel I been binge watching 😘 I didn’t see the link to the cake form.
Thank you! 🥰🥰
Yeah I still have to figure out how to put the link there. Can you email me at Karolyn@KarolynsKakes.com and I will send the forms to you that way? I’ll check my emails later today so I’ll get back to you then!
Same @Boss Lady Black 💛
Thanks! Very Helpful information. I love to highlight too. Men don't get our ways, they just go with it :-)
🤣🤣 it just makes life easier!!
Very well explained Karolyn
I love and appreciate your videos. You are very organized and concise. I am so grateful for all of your advise. ❤️❤️❤️
Thank you Dara! I'm happy to help!
Literally it's so good you keep track of everything..I liked that ..you also keep record of previous order which may come next time n say last time you made that ..I loved those ..n you don't remember what you made ..it's so good..to keep track..n also liked your highlight thing..👍
Love from India
Thank you Maitrey! I'm addicted to highlighters! haha But seriously, the better records you keep, the easier it is to find things when you need them (like previous orders). I appreciate the love!
I love this channel. Carolyn you look amazingly healthy and fit. Good job
Thank you so much! :)
You gained a new subscriber... All the way from Texas! ❤️❤️❤️
Thank you Tammy! :)
Thank you very informative and I like the way you keep everything in order, I’m trying to get there😊
You're welcome Sabrina! I'm glad I could help!
As always, thanks for your posts and input! Happy Holidays and Happy New Year!
You're welcome honey! Same to you and your family
Perfect sense. I have two separate order forms. One for every day cakes and one for wedding cakes. I like to itemize the wedding info. Topper, fresh flowers, cake stand deposit, etc. that form is signed because I require a non refundable deposit of 100.00. Typically the wedding forms are filled out with the Bride present. I do cake tastings in my home. I attach ribbon colors of the bouquets, pictures they might bring because they like the trim or something. Anyway just rambling.
I do something similar with wedding order forms! But I don’t have people in my house for tastings. I give them cupcake samples to take home with them! (I have a video on that somewhere)
Thank you,for sharing this video it gave me a direction with all my messy paper work 🙌🏼😆
Thank you Dayana! It's the least fun part (at least for me it is), but necessary to do, so it's best to have some order to it all. ☺
Like so many others I'm loving and appreciating all of your explanations and so appreciate you making the videos that you do; I'm learning so much! I have a question and I see a partial answer already. You don't charge tax but at the end of the year you're taxed on that income. And I'm not sure how to word this... but, those taxes you pay add up. How do you compensate for that out going money? I mean, do you take it off your profit?
I have a savings account that I call "Tax Savings". When I get paid, I transfer 20% right into that account so I don't touch that money. And I use that account to make my quarterly tax payments. I hope that helps!
@@KarolynsKakes Thank You!
Thank you so much for the detailed information about the paperwork. Can you also please make a video how you schedule your baking for each order for the whole week? This information will be very helpful to me as I am thinking to start a home cake business. You are amazing at everything, so organized and a very talented woman. I have been binge watching all your videos. Thank you !!
Thank you!! And I was thinking this the other day, I will do this sometime in the next few months once I can put it all together!
Thank you so much for taking time to respond!! Looking forward to the video. Also, how do you handle copyright issues for themed cakes?
@@hemusuja you take a risk if you sell a themed cake for a profit.
@@KarolynsKakes ...but don't you sell them? I mean, some of your beautiful art pieces are themed or am I missing something? Like Paw Patrol. I'm just trying to understand. Your hands are blessed! Can you do the legal side of things video pls?
Love your videos! Thank you for sharing💕
Thanks so much for this! Very informative!
Glad it was helpful!
Excellent record keeping.
Thank you! 🙌🎉
Hello, Your video was very informative. I really appreciate the detailed overview.
Hi Ledia! Glad you enjoyed it!
Hi Karolyn. Thank you for this video. But I have questions.
1. How do you estimate the tax to pay. When inside the cake sales is your labour, ingredients, profit and all.
I have a separate tax savings account and I put around 25% of all of my sales into that savings. I tend to overestimate the taxes I'll owe. But it's better to have extra money saved than not to have enough!
@@KarolynsKakes so true. I just opened a separate savings account. I normally add tax to my cakes. So I would remove that tax and add another 15-20% of my sales for tax. Thank you so much. I have learnt a lot from you.
Thanks so much for your great advice!! I just retired from teaching!😄 I am trying to figure out how much I can take on with my baking business by myself each week. How did you figure that out just trial and error? So far I have limited to about 6 cakes depending on how detailed.
It's trial and error! Like you said, it depends on size and detail. I have done up to 10 in a week, but some of those were simple 1 tiered cakes. However, it is a lot and can get very stressful!
Sooo helpful!! Thank you so much!! I’m excited to get organized and be happy about doing paperwork for once!😀
It definitely isn't my favorite part of my business, but when it's kept in order, it's MUCH easier, especially when taxes come around.
Thank you so much for this, it is so helpful!!
Glad it was helpful!🙌
Wow! So informative. Thanks
My pleasure!
TY so much for sharing your paperwork and your advice. What edible printer do you recommend for beginners? I am interested in purchasing one, have a clue on which one to purchase.
I have the Platinum Entry Level Edible Printer System from Icing Images. It comes with all the tools and supplies you need!
Here's my affiliate link to the site, click EDIBLE PRINTING and then AFFORADABLE EDIBLE PRINTERS.
shareasale.com/r.cfm?b=1817175&u=2948238&m=113258&urllink=&afftrack=
Thanks alot for sharing this information, you just make me get a new ideas of organizing my work 😊
Thank you so much! I desperately needed this video! I save receipts but never knew how to input them to keep track of them! did you come up with the deductions spreadsheet yourself or is there a template to use? I appreciate your help! not many people will share the business side of running a cake business so your videos are so helpful.
You're welcome Jacqueline!
I came up with everything myself.
I added the sales and deductions templates links in the description so you can see them.
You will have to modify them because I have areas where I can input other income streams and deductions. ☺
@@KarolynsKakes Thank you so much!
This was very informative! Love your videos, quick question..
how doy charge for cakes for the following year ? How do you deal with price changes in ingredients/ inflation?
Not sure if I’m making any sense
I’ve recently told people I can quote a price range but it’s not set in stone because of how crazy everything is right now. They have been understanding about that!
Amazing work!! Thank you for being so organized!!
My question is if you have a rate of much do you charge for delivery?
Yes! I just talked about that in my latest video.
Right now I do a base of $25, plus $2.25 (one way) from my location, plus tolls. So if I have to drive 10 miles and pay $5 in tolls, it will be $25 plus 10 x $2.25 ($22.50), plus $5 = $52.50
I hope that makes sense!
You can mess around with the per mileage charge and increase / decrease depending on your preference.
@@KarolynsKakes thank you so much! It does makes sense !
Thank you so much for sharing this info it really does help out!
I cant see! Do you have any idea what I can do to fix it so I can see plz? This is probably THE most important 1 of your vids I'd like to see?! Thanks so much xoxoxo
Ugh! So I got a new iPhone and accidentally filmed the whole thing in HDR. So you have to watch it on the TH-cam app on your phone or on a device that supports HDR videos. I'm so sorry! I was so upset when I figured out I made that mistake!
Love your videos
What do you do if a customer cancels a cake order?
Do you give back the deposit?
It depends on when they cancel. Sometimes I do, sometimes I don't.
If they cancel with more than 3 week's notice, I will refund it.
If there is enough time for me to get another order, then I will refund it.
If I have turned down many other orders and they cancel the last minute, I won't refund it.
Omg you reply to me 👏🏻👏🏻👏🏻
Thank You this Video is helping me a lot
So I Organize my orders
God Bless Love Your Videos!!!🙏🏻🙏🏻
so question.... i opened my business July 2021 as a sole proprietorship, not an LLC (because i wasnt sure i was going to stick with it). I didnt make many sales for the year. Definitely invested ALOT of money in supplies, marketing, decorations, etc. im not sure how to file.... ive heard things about claiming a loss for your business but idk if that even counts for me. Im literally dumbfounded lol i always file my own taxes but dont know where to begin with this. any advice (i know youre not a tax professional or anything)
I use an accountant who is very experienced and he guides me in the right direction. I keep very good records of everything (which makes things easier for him LOL) so I would recommend finding someone in your area who can help you with that. I always pay quarterly taxes so I don't get behind! (I opened a separate tax savings account and just transfer 30% of everything I make into there, which helps keep that money separate from everything else.)
Got it thanks. ??? Do you have any info to share about cottage law? Just thought I would ask since your in PA & I’ve been trying to understand all this info & if you have anything you would like to share, all 👂. 😊
PA is pretty good with their cottage food laws. There are some restrictions, like you must keep your food to sell separate from the food you eat (I have 2 cake fridges). You can google it to see the most recent updates for the law!
Thank you so much. This is so helpful!
Do you pay for having a home business and working out of your home? Is that the LLC part? I am in Georgia and I know it can be different per state.
The LLC is set up for taxes and insurance purposes. And in PA, we have to get licensed and inspected and zoned for residential bakery. It does cost a little bit, but not too much to set it all up!
I think this is amazing!! You are doing a great job! This is super helpful just like all of your videos. I'm sending an email so I can get more info 🤗
This is excellent! Thank you! I commend you. I use to accept orders from all avenues as well but it became too overwhelming. Now, I only handle orders via email and I only accept Zelle as a form of payment, unless it’s family and close friends. I couldn’t keep up and it was driving me mad. 😩
I agree, you have to figure out a system to stay organized because it can get out of hand really fast!
Do home bakery businesses have to charge sales tax? I was reading somewhere that baked goods were exempt but not sure if that’s true!
No, I don't have to charge sales tax.
Thank you, Thank you, Thank you!!!
You're welcome!
Thanks for sharing!!!!
Thank you!
What about receipts to your customers when you re receive payments from them? How is that taken care of?
I always keep payment records in our email thread. So, for example, if someone orders a cake for $300 and sends in a $100 deposit, I will email them, "I got the $100 in Venmo, thank you! The $200 balance is due by Sept 18th." Then when they send the balance, I will email, "I got the $200 balance in CashApp, you are paid in full, thank you!"
This way, there is proof of payment in the email and through whatever method they paid (venmo, cash app, paypal, square, etc.). If they drop off cash, which rarely happens anymore, I will print out a receipt for them.
hi karolyn, i have excell as well but i couldnt find the page you use with deductions for months. could you tell me what to click on please
Email me at KakeAcademy@gmail.com and I will send you the template!
Amazing video.
Thank you Nicole! :)
On delivery, is it ok to charge if is like crazy far? I feel bad to charge sometimes, there been time where is and hour away 😳 I love it but transporting the cake it can get challenging scary and I honestly I panic I hated 😅😞
Charge for your time!!! I now charge a flat rate of $25, PLUS $2.25 per mile one way, PLUS tolls. So if it's 30 miles away, it's $25 + $67.50 (30 x 2.25) + $5 bridge toll (if I cross the bridge) = $97.50!
If it takes an hour to get there, it will take an hour to get back. So that's 2 hours just driving. Plus you take on the stress of transporting it and setting it up. Plus you have to pay for gas and tolls. And there may be traffic too so at the least a delivery an hour away could be 2.5 - 3 hours of your time. Make it worth it!
I find that my rate is pricey, but it's not too much that people would rather pay than have to pick it up. Let them know from jump so they know what to expect.
Do you typically have to remind people to pay balances?
It's 50/50. Since I require payment in full 10 days prior to pickup, I'll email everyone who hasn't paid 10 days out to remind them. People have busy lives and sometimes forget.
Do u think you can send me the pdf of the client profile paper? I would love to be as organized as you
Sure! Email me at Karolyn@KarolynsKakes.com and I'll send it over! I have to figure out how to link it to the description!
As a home baker we don’t need to pay taxes quarterly right ?
I always do because I don't want to end up with a tax bill in April that is thousands of dollars! I have a savings account that I just opened for my taxes and I periodically transfer funds there. And when the quarterly taxes are due, I pay them with the funds in that savings account.
Hi karolyn I am so big fan of you 🎉 plz can you give classes to me ???😊
Thank you
Thank You!!!!
I love this
Thank you Becca! It’s not the most fun part, but it makes life so much easier if you’re organized. ☺️
@@KarolynsKakes After watching this yesterday, I was up till 2am putting all my costings into an excel sheet and realised I've been charging too little to break even. Thank you so much for your insight on organisation too
@@BusyWithBecca years ago I realized I was doing the same. I was actually losing money. Don’t be afraid to charge what you want! I’ve had a lot of people turn me down because of price. But I’ve also attracted the right customers because of it. Good luck!
How do you receive orders?
Through my website, my facebook page, instagram and referrals. And also repeat customers!
👍👍🙏🏻
Barely watching 9 minutes gave me a headache trying to keep up, I'm sure there's a better way to do that on a computer instead of having all that paperwork!! 🙃🙃 Thanks though for the info.
Ahhhh sorry it confused you! We find what works for us. I have to have paper order forms so I can sketch and keep notes on them! But I totally understand it's not for everyone. Hope it helped a little!