How to Close Your Holiday Shop School Fundraiser
After the excitement and hard work, it’s time to close your holiday shop school fundraiser properly. Whether managing finances, tracking inventory, or reporting to your board, this process is key for future success. To help you through this process, visit the Holiday Shop for additional resources. In this guide, we’ll walk you through the essential steps to successfully close your fundraiser for the season!.
Finalize Sales and Handling Cash Receipts
Reconcile Sales Records
Ensure your sales records match the collected funds. Review daily totals and address discrepancies. Lil’ Shoppers’ Holiday Shoppe offers worksheets and a chairperson portal for automatic invoice generation.
Handling Cash Receipts
Ensure all cash and/or checks are accounted for and stored safely. Once payments are collected, deposit the funds into the school’s account as soon as possible. Don’t forget to provide a financial summary to stakeholders like the PTA or school administration.
Count vs. No-Count Inventory: Which Method Works Best?
No-Count Inventory (Easier & Faster!)
Many schools prefer the No-Count Inventory method for their holiday shop fundraiser because it streamlines the closing process. Instead of counting every unsold item, you track daily sales totals and generate an invoice accordingly.
How it works:
- Record daily sales totals (cash and checks) on a worksheet.
- Enter totals into your school’s invoicing system.
- An invoice is generated based on sales, considering profits, gift certificates, and credit card transactions.
Why schools love it: No need to count every single item, making it fast and hassle-free for volunteers.
Count Inventory (For Schools That Need More Tracking)
Some schools choose to count inventory at the end of the sale, especially if selling items beyond the holiday shop selection. This method ensures proper tracking of all remaining merchandise before finalizing the invoice.
How it works:
- Count remaining inventory and compare it with initial stock.
- Adjust records based on the total sales versus leftover products.
- Submit final inventory numbers through the chairperson portal.
Lil’ Shopper’s Holiday Shoppe simplifies inventory
management with its streamlined inventory tracking system, ensuring a smooth closing process.
Analyze and Recap Financials
Calculate Total Profits
Subtract expenses (e.g., inventory costs, decorations) from total sales to determine net profit. Providing a clear financial summary helps with transparency and future planning.
Prepare a Financial Report
Compile a detailed breakdown of earnings and share it with stakeholders. Include a summary of how the funds will benefit the school or students.
Plan for Next Year’s Holiday Shop
Set Goals Early
Reflect on this year’s performance to set realistic goals for the next event.
Partner with a Trusted Supplier
Consider partnering with Lil’ Shoppers Holiday Shoppe for an easy-to-manage holiday shop with quality inventory. Learn more here.
Start Building Excitement
Begin promoting the event early to engage the school community and increase participation.
Host Your Next Holiday Shop School Fundraiser with Lil’ Shopper’s Holiday Shoppe!
Closing your holiday shop school fundraiser efficiently sets the stage for success next year. By following these steps, you’ll ensure a smooth wrap-up process and a stress-free experience. Ready to plan your next fundraiser? Request holiday shop information today!
