OK I NEED to learn the Paperwork thing!!!
this book caught my eye
Any info or advise or dissent is welcome.
Alternatives???
I do not want to go to computer based bookwork until I get a Mac.
So in the meantime I need a good hardcopy system.
Thanx in advance
Tony
I have no comment…
Replies
For the longest time I ran a 3 carbon copy billing pad. One for the customer, one for the file-paperclipped to all the material rcpts and one stayed in the book.
Poor way to keep records unless you have the memory of an elephant.
Checkbook-I would write info about purchase-what and who for.
Kept all the material invoices in a stack, sorted according to supplier at end of year.
Get the mac quick, might as well start a system at the beginning. When I got quickbooks, I entered the previous year's info. Took time but gave me a good idea of what to change or amend.
A great place for Information, Comraderie, and a sucker punch.
Remodeling Contractor just outside the Glass City.
Quittin' Time
t.. i wouldn't start with paper.. i'd start with a computer.. and keep it simple.. like QuickBooks...or QuickBooks Pro for contractors
job folders for every job & every bid.. move them to three-ring binders when they start growing
look at your schedule C for the minimum amount of overhead items you want to track
incorporate as soon as possible
and get a payroll service , even if you are the ONLY employee... the state and federal filing requirements will kill your office time.. a payroll service will do all of that for you
we use a seperate estimating / proposal system
but QB has built-in tmeplates for estimating /proposal/invoice.. all linked.. basic info entered ONCE
KISS... KISS.... KISSMike Smith Rhode Island : Design / Build / Repair / Restore
incorporate as soon as possible
KISS... KISS.... KISS
Mike, you've offered two conflicting statements.
Forming an LLC would be more in line with KISS.
blue
Forming an LLC would be more in line with KISS.
I think that depends on where you are from. and how your state is treating LLC's this week.
I formed an LLC early on. ( Mid 90's) and followed ALL of the accountant and lawyers advice. Despite that, I later found out that to my state, an LLC, was just another corporation with ALL of the same requirements. The resulting year end debacle I endured could best be described as Prison Rape like.
I've since heard that PA now looks at an LLC as it was intended but if it were me? I would incorporate next time.
Also, I've been told twice now by two lawyers I respect and trust, that if you form an LLC and then act like a sole proprietor, thats how the court will treat you if that time ever comes.
mebbe... i think the jury is still out on LLC's
personally being an S -Corp for me is pretty easyMike Smith Rhode Island : Design / Build / Repair / Restore
I'm with Mike, start the right way (at least as best as you can tell what is right) and discipline yourself to stick with it.
I drug my feet and it was a lot more work to get up to speed than if I had done it right at the beginning.
Get Quickbooks Pro and find somewhere that you can take a class on it. I find QB really easy to use, especially for the core functions (invoicing, tracking material & sub invoices, simple reporting). If you are computer literate at all I think an afternoon spent with someone who knows what they are doing may even be enough.
I took a class from Econtroller.com for about $250. It was 2 hours a day for 5 days. Decent but you may be able to find a community college that offers something similar for less time and money, or even take this opportunity to meet an accountant.
I also agree with Mike about the payroll service. You can go at it alone but the risks and time involved are too great for me.
Jon Blakemore
RappahannockINC.com Fredericksburg, VA
For now I am stuck w/o a real computer...
The Mac will be my NEXT tool purchase!!!
But I gotta earn the green first!!
so for the present (couple of mos. max) will I be OK writing EVERYTING down in a note book and using some forms from Staples or OfficeMax???
I have no comment...
sounds like it will have to be
Mr.T do you know any college kids?
If you do have them check the price of the Mack your are looking for.
the same with software.
colleges & students get very good discount on computers and software.
Wife is an Instructor for one collitch and just got her masters from another.
Inperfect: The new mac was decided on long agoI have no comment...
I can understand why you want a Mac. I used one years ago at a Co I worked for and have been wanting another since. But you know what, I'm sitting in front of a unit that was built in 1998, and is running windows 95, and I got it for free, and it had QB Pro installed on it when I got it. The computer you need for bookeeping is out there for a song if you look around. People throw them out,,,,,, need to have the latest and greatest.
I'm a lazy bookeeper, plus I'm a one man show and I'm always busy. I got a call from the tax man 6 weeks ago,,, " you've been selected for an audit etc etc". I put three + years of records into QB working a little every night ( didn't want to show these folks my "paper" system, don't think they would be too impressed)
Had the audit last week. Got a gold star next to my name. Glad that's over!!
H
T
If you have to go pencil & paper go to an office supply store and get Columnar paper. Get at least 12 columns. Then take the Schedule C (like Mike said) items off it. List down one side all the items. Across the top is your months (12) Probably need another one for totals.
As your invoices come in you can enter them at the end of the month. You could do one page prior to starting as your budget. Might help with cash flow as well.
You are set to go.
Go see an accountant.
Ask him what records you need to keep for the tax man. Then you can decide how to keep it until you get a computer. Staples sells plenty of desktop sized ledgers in all different types of layouts. You can tailor one to your needs and have all your info lined up to put into your MAC when it arrives.
When the MAc gets here, let me suggest you invest in a few Geek Sticks (thumb drives)? You could back a whoe quarters worth of documents up on a cheap one. Then you can store them in a fireproof box. At some point, you'll be glad you did. Usually right after the whole system crashes two weeks before audit time.
Next, decide what info you need to keep. Hstorical files can be a big boost for your business.
" Hey, I think this is gonna take me a two days. I did a job just like this last year. How long did it take? Holy s$%^, it took four? Wow, Glad I kept these records."