tracking business expenses
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- rodzilla0
excel
- bjladams0
we've started using an accountant this year, he's saved us more than he costs- and tracks everything and takes care of all the taxes, bills, forms and so on. pays our taxes monthly and gives us an itemized list of our expenses and a breakdown of how they're taxed so that we can better quote our projects. i'd recommend it. for minor stuff to see straight away, we've just started using project bubble, and so far so good.
- ETM0
- formed0
Quickbooks and dedicated credit card, bookkeeper and accountant
- pr20
You guys are way too high tech for me... I just keep ALL my receipts then at the end of the day i have 6 drawers: gear, research, office, transport, food, other... and divide the receipts there so i can do easy math at the end of the year.
Remember EVERY receipt is worth about 1/3 of its face value when you deduct it.
- bzsaw0
Additionally to having a CPA... use a company debt/credit card for all business expenses. Automatically keeps a record on your statement.
Separate your personal life from your business and it becomes much easier. No app needed.
- TresLeches0
expensify
- ETM0
I track expenses via Harvest and/or Harvest's iPhone app. Makes it easy to expense back to clients during invoicing when applicable
Also have an accountant reconcile the books each month.
- sublocked0
http://CashboardApp.com records expenses and lets you re-bill for them even.
- randommail0
thanks for the recommendations.
I don't have a business credit card yet unfortunately. Been using a business account debit card.But the apps look pretty slick. Will check them out.
- shellie0
What ^ bjladams said - first post.
I did the same and I also got an experienced business manager. Both my accountant and business manager work together and have extensive knowledge of the music/record label and advertising agency business and resumes to match. It was really scary at first because it seems like a large bill that will always be on your back and I started my company with zero dollars (just enough to get all registered up and my business registrations and licenses).
In fact, they have saved me so much money and my company has grown exponentially ever since I started it a year and a half ago. And, my first year was profitable. I will never regret hiring the right resources so I can focus on just doing work. I've since set my bf up with the same business manager and accountant. And, I'm about to have them start managing our joint household expenses as well (although they already kind of do since my bf and i are both self employed artists).
If any of you guys in LA are looking for that kind of help, reach out to them. They're called typeaco.com (Angela & Wendy) and tell them Shellie from the Graphic Foundation sent you :D
- They also always seem to be available and have all the answers even tho they have plenty of clients besides me.shellie