Inventory question when doing consignment
I’m getting my third check from a local indie bookstore and taking them more books this week! (And, reminded by the recent Novel Marketing episode, I am looking into other places to consign my books as well, particularly a local pharmacy + gift store.) But my question is this, how do I handle inventory for taxes when I have books at others places for consignment? I can’t keep track of them easily when they are at one or more stores for sell, and the bookstore doesn’t give me a list of books sold, just a check. Has anyone dealt with this?
Do I just count them in the inventory until I get a check, then request a specific breakdown of books sold?
And if you have been thinking about asking your local bookstore to consign your books, it took a long time before my books started selling there. They seemed to just sit on the shelf for a year—and then someone messaged me to ask about getting my books for her sister for Christmas, then someone I’d met at a Christmas market bought more books at the bookstore (I accidentally ran into her there as I rushed over to make sure they had the books she was looking for), then the bookstore chose one of my books for a virtual bookclub. So it takes a while and all the efforts—Amazon, website, in-person, having multiple books out, and time—add up.