When you own your own business, it's a lot of paperwork. A lot. And then there's some more. Anyone who tells you otherwise is lying or doesn't fear the IRS.
The problem with me being so busy is that I haven't had time to do the accounting. Every month, we send the statements (one bank account, two credit cards) to the accountant. We match up the receipts. Sometimes we have to find invoices and so on, and sometimes the receipts are in email. We also have to put notes on some of them, like the more expensive items or the meals or the travel expenses. So, it's not just sending a box of receipts to the accountant.
I was trying to just get him to do it, since I don't have time. Problem is, he's a creative type. He can't (won't?) pull the statements and match up all the receipts -- it drives him crazy.
From my point of view, the whole thing takes an hour, and it's a cost of doing business. I feel like he just puts it off until I get so mad I have to do it, and then I feel like he doesn't take his business seriously.
We had a huge fight about this, and I just can't think of a better solution. We don't have a sustainable system here. Anyone done this before? Ideas?
Tuesday, October 27, 2009
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10 comments:
perhaps it's time to hire an assistant or part-time bookkeeper.
I have never sent receipts to an accountant and we call the folks that do - shoe box clients. Albeit that you are an organized one.
Try an accounting software like Quickbooks, where you can download transactions in and then send a copy of the file to the accountant. They do not need receipts to do taxes and keep you legal - unless there is a questionable item (which they will request it from you).
This very morning Gail Vaz-Oxlade blogged the first in a series on becoming self employed. Perhaps you may find some tips there?
http://gailvazoxlade.com/blog/
you can't expect an accountant to either be a bookkeeper nor do bookkeeping work.
sounds like you need to hire a bookkeeper or an office assistant. a freelance, independent contractor who will come in once a week or a few hours per month to do this work. accountants get paid $100 to $150 per hour. a bookkeeper/assistant gets $15 or so.
good luck.
Tell him you'll do it for him but your going to charge him a fee. I don't know what that fee is. Could be anything from money to having him cook a meal for you a couple times a month or clean the house or anything you two can agree on.
Hire a college kid to come in once a month.
I think that you just need to think of the problem a different way. I am also married to the “creative” type, so I know how it goes, so let’s be honest; he’s not going to do it. Instead of thinking how can I get him to do it, you need to think, what will he do that will make it easier for you come statement time. I have a “receipt box” where hubby puts all his receipts after writing a note on it for where it was from (if it’s not easily identifiable) and what it was for. Also for meals and entertainment items, he should be noting who it was with/for. That way at least when you are doing it at the end of the month, you already have everything you need.
The key for me was just finding out what made it less stressful for me to do, since I was going to end up doing it anyway! :)
I think Sr Dog needs to grow up. Being self-employed is not just a lot of paperwork - its a lot of work. And a lot of the work is not necessarily fun. I have worked full-time in our family business for over 10 years now and personally I love it. But there are things I do I absolutely hate. But I have no choice...like you say, its the cost of doing business. I spent 3 hours this morning doing something I hate. Everyone knows I hate it. But I have to do it. Or hire someone to do it which is not an option. You are not paid by Sr Dog and hence have no obligation to help him. He either needs to suck it up and do it himself or hire someone else to do it. Its not your job to pick up the pieces of HIS company. You have your own 40 hr/week job now and plenty other things to worry about.
If the he is your accountant, you should probably find another accountant. If it's your significant other, you're probably stuck with it.
You can hire me part time to come do it for you? only 12 per hour :)
HS
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