Q&A from 9/6/23 Session
A1. Supplies would be described as items you use during the course of daily business, typically, things like pens, paper clips, post-it notes, toner cartridges, adding machine tape, toilet paper/paper towels for your restrooms. Inventory would be things being stored for resale such as finished, decorated cakes, if you are a baker. Finished, hand-knit bonnets if you are a crafter, bags of dog treats you are selling to your veterinary or doggie day-care clients.
If you are the owner of a business and have specific questions about what would be considered inventory vs. monthly supplies, please call our office at 860-276-6205. We would be happy to help you!