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No Sales at Arts & Craft Fair: Tracking Expenses

In summary, for a no sales event at an arts and craft fair, you should track all expenses related to the event such as booth rental fees, transportation costs, advertising and marketing expenses, and any materials or supplies you purchased specifically for the fair. To calculate your total expenses for the event, you will need to add up all of the individual expenses you tracked and keep all receipts and invoices as proof. These expenses may also be deductible on your taxes as a business expense, but it is recommended to consult with a tax professional for specific advice. Additionally, it is important to track your time and labor as an expense if you spent any time preparing for or working at the event. Tracking expenses for a no sales event can provide valuable insights into the
T
TJMagoo
116
I went to an arts and craft vendor fair today that was a total bust. I didn't get one sale. How do I keep track in P3 my expenses of the booth space and the classic batter bowl I gave as a raffle item? Under expenses you have to assign it to a show and since there were no orders for this one, I wasn't going to create a show for it...or do I anyways?
 
You don't have to assign it to a show - just put it in as an expense and make a comment in the comment area.By the way, it might not be a complete bust! Hopefully you made a few contacts, handed out some personal information that might come in use later!! I had someone call me almost a year after an event I did and said she got my information from a friend who was at that event.
 
I believe that you can put in an expense without listing a show. Just leave show # blank and it should be fine. Sorry the fair did not go well for you...
 
  • Thread starter
  • #4
Yep - it worked. Thanks Ladies!
 
I'm new and I'm dying to know where you can input expenses, someone please educate me
 
rhoweth74 said:
I'm new and I'm dying to know where you can input expenses, someone please educate me
Click to expand...

If you started after May 3 you are in the new web and the expense area isn't set up yet. Sorry.
 
I'm after May 3, I'm feeling like I got the short end of the stick :(
 

1. What expenses should I track for a no sales event at an arts and craft fair?

For a no sales event at an arts and craft fair, you should track all expenses related to the event such as booth rental fees, transportation costs, advertising and marketing expenses, and any materials or supplies you purchased specifically for the fair.

2. How do I calculate my total expenses for the event?

To calculate your total expenses for the event, you will need to add up all of the individual expenses you tracked. It is important to keep all receipts and invoices as proof of your expenses.

3. Can I deduct these expenses on my taxes?

Yes, you may be able to deduct these expenses on your taxes as a business expense. However, it is recommended that you consult with a tax professional or accountant for specific advice on deducting expenses.

4. Do I need to track my time and labor as an expense?

Yes, if you spent any time preparing for or working at the event, you should track your time and labor as an expense. This could include time spent making products, setting up and tearing down the booth, and promoting the event.

5. How can tracking expenses for a no sales event benefit my business?

Tracking expenses for a no sales event can provide valuable insights into the success and profitability of your business. It can also help you make informed decisions for future events and budgeting for your business overall.

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