[Atlanta] [Workshop] QuickBooks for Jewelers

Jewelry Discussion
1

JewelerProfit
David Geller, Director of Profit
QuickBooks for Jewelers Workshop
March 4th & 5th in Atlanta, right after the SJTA Atlanta Jewelry Show

…

The Atlanta Jewelry Show is Saturday, Sunday and Monday March 1st;
2nd & 3rd.

Our workshop will be Monday & Tuesday March 4th & 5th.

So you can kill 2 birds with one stone. Come in town on Friday if
you like and come to the Atlanta jewelry show all day Saturday &
Sunday, then join us for our QuickBooks for Jewelers workshop Monday
& Tuesday.

It’s time to get your QuickBooks R up to date and correct.

My father used to say to me

“What you don’t know would fill a library”

Of course now he would be saying “What you don’t know would fill an
iPad!”

Most jewelers don’t look at their profit and loss statement except
after the accountant hands it to them at tax time. (I used to be a
member of this elite club as well.)

So what do you do when you get it? You turn to the very last page,
look at the profit and the income tax you owe and say

“If I made all of this money, where the heck is it?”

  • Wouldn’t you like to know?

  • Wouldn’t you love to do something about it?

  • Wouldn’t you like to be smarter than your accountant in these
    matters who typically does not understand the retail jewelry
    business?

Each store will be at their own live/real computer. It will be
connected to your store over the Internet. Besides learning you’ll be
fixing your QuickBooks LIVE with my help. When you return to your
store it will be 100% fixed or close to it.

Here’s a picture from our last workshop in Atlanta.

  • Why should you attend?

  • Who should attend?

  • What will you get out of the workshop?

Why Should You Attend?

  • Using QuickBooks properly can reduce the amount of time you or
    your bookkeeper spend “doing the books”

  • If you’re hand writing checks just using the QuickBooks check
    writing/printing feature will reduce the amount of time it takes you
    to pay bills by 60%!

  • Quite possibly you could lower your accounting expenses as you’re
    doing most of the work now, it just needs tweaking.

  • You’ll be able to print your own monthly Profit & Loss Statements
    and it will be more accurate than what your accountant provides for
    you as they

never break it down specifically for a jewelry store. (See pictures
below)

  • Many banks can now download transactions right into QuickBooks.
    You’ll know what checks and deposits cleared the bank last night
    every morning when you crank up the computer.

  • Your credit card purchases can be downloaded into QuickBooks, no
    more adding up the Visa or American Express statement each month to
    categorize your expenses.

  • You should especially attend if you use a jewelry specific point
    of sale program. The Edge and Jewelry Shopkeeper export right into
    QuickBooks. We’ll get that connected for you.

  • You’ll find out what reports to run each month and how to react to
    them.

Who Should Attend?

  • Anyone using QuickBooks in their jewelry store.

  • Jewelers using hand written checks.

  • Jewelers using a jewelry specific POS program. Edge & Shopkeeper
    export right into QuickBooks. Other jewelry programs can have reports
    run and enter sales the same way but with a memorized journal
    entry.[1] [2]Click here to see a list of the other jewelry specific
    programs[3].

  • Jewelers who want to get automated even if you’ve never used
    QuickBooks before. 80% of small businesses use QuickBooks. It’s easy
    to use and its accurate if setup correctly as well as used correctly.
    We fix both.

  • The bookkeeper of course should attend but we also suggest if
    possible that the owner come along. Many times the bookkeeper is the
    owner. If you bring an additional person they are only $299.

What will you get out of it?

  • You’ll finally understand your “books”.

  • Now you’ll be able to decipher your profit and loss statement and
    provide your own accurate one each month.

  • Decrease the amount of time spent “on the books”.

  • Ability to pay your bills online inside of QuickBooks. Check
    balances each morning (if your bank downloads into QuickBooks.

  • Balance your own checkbook, it’s easy to do.

  • Learn Why you should use “Pay Bills” and not just write a check.

  • Net result is if you follow the simple procedures you’ll increase
    cash flow, have lower accounts payable and less stress in your life.

  • In addition David will go over the secrets of managing inventory
    in your store. It’s the cash killer in the jewelry industry and give
    you his famous “15 ways to get rid of old inventory”.

SETTING UP QUICKBOOKS FOR A JEWELRY STORE

Probably your books?

Without trying to give you your accounting degree, this is how I
find most jewelry store profit & loss statement looks like. It’s made
for the benefit of the accountant, not the store owner:

Sales $750,000.00

(typically “sales” is money deposited into the bank. Wrong!)

Cost of Goods -$495,500.00

(typically “cost of goods” are checks to pay to vendors for items we
bought. That also is wrong!)

Gross Profit $254,500.00

(That’s a 34% gross profit. I thought you said you “keystoned”
everything? It’s incorrect because Sales are sales you made and not
deposits. “Cost of Goods” is the cost of what you sold, not the cost
of what you paid for this week.)

…

A much better way of setting up a jewelry store in QuickBooks

This would now be your books:

…

PRODUCT SALES

  • Showcase & Special Order Sales

  • Memo & Consignment Sales

SHOP SALES

  • Jewelry Repairs

  • Custom Designing

  • Watch Repair & Batteries

  • Appraisal Sales

  • Scrap Gold Sales to the Refiner

…

PRODUCT COST OF GOODS

  • Showcase & Special Order COG’s

  • Memo & Consignment COG’s

SHOP COST OF GOODS

  • Jewelers Pay

  • Jeweler’s Taxes

  • Findings/Mountings/Gold/Stones

  • Shop Supplies

  • Outside Trade Shops

  • Outside Watch Repair Costs

Appraisal Cost If you don’t pay someone specifically to do this then
you won’t have this cost.

Scrap Gold Costs (typically checks to customers)

…

You will now have a gross profit number for the whole store as well
as the 3 major income categories.

  • Product Sales

  • Shop Sales

  • Scrap Gold Sales

Here’s the schedule for the two days of QuickBooks for Jewelers.

  • Workshop starts Monday March 4th at 9:00am and goes until 5pm both
    days.

  • If you’re coming just for the workshop fly into Atlanta (ATL) on
    Sunday.

  • If you’re coming for the Atlanta Jewelry Show fly into Atlanta on
    Friday March 1st, attend the show March 2nd & 3rd.

  • Setting up your QuickBooks from scratch or adjusting your current
    QuickBooks to the “QuickBooks for Jeweler” method. David will be
    helping most people get this setup prior to class.

  • How to enter sales and cost of goods correctly from any point of
    sale program.

  • Why you should be using “Enter Bills” in QuickBooks and not just
    writing checks.

  • Using all of the features in QuickBooks that you can.

  • QuickBooks shortcuts

  • Paying bills with paper checks and online inside of QuickBooks.

  • Downloading your banking info into QuickBooks

  • Downloading your credit card purchases into QuickBooks

  • Handling payroll in QuickBooks. Other options as well.

  • If you use The Edge or Jewelry Shopkeeper get you setup for
    exporting into QuickBooks.

  • Which reports to run each month and how to interpret them.

  • Reconciling your bank account and credit cards.

  • Much, much more/

  • IMPORTANT: David will be going over some reports from Point of
    Sale programs. We’ll be going over how inventory should be handled,
    fast seller reports, GMROI reports and your monthly management
    meetings.

HERE’S WHAT YOU’LL GET:

  • In class each store will have one computer to work with.

  • If you bring an additional person you’ll have two seats and share
    the computer.

  • The cliff notes version of “QuickBooks for Jewelers”.

  • David Geller’s “QuickBooks for Jewelers” manual and Bookkeeper
    Procedures booklet if you have The Edge or Jewelry Shopkeeper.

  • Free download of logmein.com so you can connect in class to your
    store’s computer. You’ll now be able to connect to your store’s
    computer from home or even Hawaii!

  • David will help you get connected before class starts.

  • Lunch both days and snacks for attendees.

  • 5 hours free support after class with David

  • David will be happy to connect and speak with your CPA/accountant
    to show how your setup works. Teamwork!

SPECIAL DISCOUNTS FOR THOSE WHO SIGN UP EARLY

To finally get your books correct:

  • $1199.99 for the 1st person

  • $299 for an additional attendee

Register by January 31st and save $100 for the main attendee.

First attendee $1199.00. Save $100 = only $1099.00

An additional attendee is $299.00

Register February 1st or after and there is no discounts available.

  • First attendee $1199.00

  • An additional attendee $299.00

SO PLEASE TAKE A FEW MINUTES NOW AND SIGN UP FOR THIS IMPORTANT
WORKSHOP.

WHY DO I USE ALL CAPS?

Because the classroom only has 14 computers. When 14 spaces are
filled no matter amount of begging will help. 14 computers reserved,
class registration is closed!

So go here to register Qb 4 Jlrs ONLINE Sign up Form

You will be charged only a $100.00 deposit immediately to hold your
computer.

We will not charge your card for the balance until the week before
class starts.

So plan to attend the Atlanta Jewelry Show and QuickBooks for
Jewelers. or just come for QuickBooks for jewelers on Monday.

By the way I’m speaking at the Atlanta Jewelry Show on Sunday March
3rd (Sunday) from 3-4pm on Making Money from The Shop.

By the way the show is at the Cobb Galleria Convention Center in
Marietta Georgia (suburb of Atlanta) and our QuickBooks class is in
Sandy Springs, a short 20 minute drive from the show. There is a
hotel on the grounds of the Atlanta show if you’re thinking about
attending.

There are about 5 hotels near the computer workshop classroom which
provide shuttle service to the class but the show and class are not
close to each other. When you sign up for the workshop Renie will
forward to you hotel

So sign up now while there’s room:

If you have an questions feel free to give me a call.

(404) 255-9565

Sincerely
David Geller