Small Business Book Keeping w/Lisa Sanchez
Detailed Invoice
Name and Logo up at the top, keep it simple. Create a job number/invoice numbering system. Seperate paid invoices from unpaid invoices. Keep as much notes as possible on invoices. Usual return on being paid is 30 days.
Taxes
Sales tax should be paid quarterly., the state wants their quarterly paid tax even on unpaid jobs. Keep track of reimbursables. If you buy hwolesale you may need to pay sales tax on it, re-sellers license is needed for buying whole-sale and re-selling at a mark-up. Tangable items are taxable. Clients should be taxed the tax fee rate according to their location, if they need to come to your location, then charge your locations tax rate. Keep tax ecords on file for 7-10yrs. what ever you’re making, keep 20% in a seperate account for tax situatons later on.
Opening Up Under a Business Name
Working for yourself/by yourself you might wanna file as a sole-proprietor. S-Copr is usually the next step after S.P. usually if you’re oushing 200k you should look into moving onto being a corporation.
All things can be written off: font, paper, inks, programs, computer, etc etc.
Name and Logo up at the top, keep it simple. Create a job number/invoice numbering system. Seperate paid invoices from unpaid invoices. Keep as much notes as possible on invoices. Usual return on being paid is 30 days.
Taxes
Sales tax should be paid quarterly., the state wants their quarterly paid tax even on unpaid jobs. Keep track of reimbursables. If you buy hwolesale you may need to pay sales tax on it, re-sellers license is needed for buying whole-sale and re-selling at a mark-up. Tangable items are taxable. Clients should be taxed the tax fee rate according to their location, if they need to come to your location, then charge your locations tax rate. Keep tax ecords on file for 7-10yrs. what ever you’re making, keep 20% in a seperate account for tax situatons later on.
Opening Up Under a Business Name
Working for yourself/by yourself you might wanna file as a sole-proprietor. S-Copr is usually the next step after S.P. usually if you’re oushing 200k you should look into moving onto being a corporation.
All things can be written off: font, paper, inks, programs, computer, etc etc.
Sources
- California Tax & Fee Administration
- California secretaary of state (sos.gov)
- American Bookkeepers Association
- QuickBooks desktop
- Quicken
- Woo-Commerce
Invoicing Numbering Example
JOB#18-001-A
18-002-B
18-003-C
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