Showing posts from September, 2021

3 Best Accounting Software for Your Business

Making the leap into small business ownership is an exciting process for any entrepreneur. However, it can be easy to get a bit overwhelmed at first, especially when it comes to the nitty gritty business stuff like taxes and accounting. In our article on accounting for online shops , we gave a basic overview of bookkeeping practices for eCommerce businesses and in it, we mentioned the importance of good accounting software. So in this article, we’ll follow up with a list of the best accounting software available to help you launch your CNC machining business! Accounting Software Basics Accounting software has wide-ranging benefits for small businesses, irrespective of the industry in which they operate. With the right software, entrepreneurs find it easier to track accounts payable and receivable. Likewise, they can streamline tax reporting to ensure error-free filing. Many vendors offer out-of-the-box software that eliminates the need to hire an accountant. Instead, you can handle the

Starting a Business: Personal vs. Business Spending

  Starting a business, or turning a hobby into a business, comes with many challenges. Chief among them is managing (and access to) money. Business Spending… is Investing Before we touch on sources for money, we’ll touch on a very important paradigm shift when going from personal spending to business spending (investing). When we buy something for ourselves we typically consider if we have the cash to either pay for it now or the cash to cover the payments. This paradigm has nothing to do with the future revenue, just what our current income will allow, and will we have enough left over for other purchases.  For business spending, while current revenue is important, the real consideration is regarding the increase in profitability that we expect from making the purchase. You are not spending money as much as you are making an investment; you expect a positive return. How much more money will you have in your pocket if you purchase a new machine or tool? In other words, is it a profitab

Bookkeeping 101: Accounting for eComm & Online Shops

  There are many reasons why makers purchase their X-Carve or X-Carve Pro . Many do so with an entrepreneurial spirit and some of those entrepreneurs intend to open their own online store. However, launching an e-commerce store can be both daunting and exciting for merchants. And for the store to succeed, it’s important to implement proper bookkeeping practices. In doing so, you make it easier to track transactions and manage day-to-day e-commerce finances. Whether you engage in B2B or B2C e-commerce activities, you need to keep tabs on expenses and revenue to determine the venture's profitability. Thankfully, you can rely on a wide selection of accounting tools to simplify financial management. Moreover, doing so frees up your time, allowing you to focus on marketing and growing your store. However, it’s important to familiarize yourself with various bookkeeping practices to maximize the efficiency of your financial management processes. Key aspects of e-commerce accounting inclu

Easel Live: Furniture & Joinery Basics

  Inventables’ Easel Live is a series dedicated to demonstrating the ins and outs and tips and tricks of our Easel software. They provide CNC users the opportunity to learn more about CNC software, design, and efficiency when working with Easel and the X-Carve. Today, we’ll take a look at how to use basic joinery to create furniture pieces like stools and chairs. We’ll look at two joints in particular: the mortise and tenon joint and the clip tenon joint. Key Session Takeaways: Sometimes less is more: using just one or two joints can take you a long way. The awesome stool featured in this session uses just two joints. You don’t need step-by-step instructions to learn or find inspiration. Just look around you. Whether at home, work, stores, or online you can find design elements to incorporate into your own projects. Experimentation is key. You’ll be using a ton of trial and error. Finding the right material is tough. Use test parts for finding the right thickness, flexibility, materia