Q&A from 9/6/23 Session

Q1. What is the difference between supplies and inventory?
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!