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Looking for best way to track expenses and income
  
 
HelloMrLocust
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p.1 #1 · p.1 #1 · Looking for best way to track expenses and income


Let me start off by saying that I am not an organized person and I that I'm not good at keeping paper records. I've spent a lot of money getting ready for the last few art festivals I've been in. I also have a significant amount stock. I need a way to track my expenses. I would love to be able to see that I've spent xxx on matting in the last year or xxx on canvas prints for the last show. I just want to see where my biggest expenses are coming from and to see if I'm actually making any money. lol

Is there good software or apps for this?



Dec 01, 2016 at 08:29 PM
tcphoto
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p.1 #2 · p.1 #2 · Looking for best way to track expenses and income


I set up a spreadsheet listing all expense categories using Apple's Numbers application. Others use Quickbooks but I've never tried it. I will enter them into the spreadsheet whether it's materials to build sets, hotels, gear, etc. as they come in and do the same as checks arrive. I am a freelance photographer mainly shooting Advertising and Marketing projects but you should be able to adapt it to your application. Not an organized person? You'll need to be if you want to know what your overhead is and whether you're in the black or heaven forbid the red.


Dec 01, 2016 at 10:47 PM
ShotByTom
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p.1 #3 · p.1 #3 · Looking for best way to track expenses and income


Are you on a Mac or WIndows? There are a bunch of small Mac apps that do this very well. Quicken is great too.


Dec 02, 2016 at 10:56 PM
Ischgl99
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p.1 #4 · p.1 #4 · Looking for best way to track expenses and income


I use a free accounting program for my consulting company and it works fine for what I need at this time. You can set it up pretty much any way you want for the expenses and categories you want to track. I don't have products I sell, so can't comment on how well it works for inventory type items, but for services it works for me and the price is right.

https://www.manager.io



Dec 02, 2016 at 11:08 PM
SF250GTO
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p.1 #5 · p.1 #5 · Looking for best way to track expenses and income


Another option is mint.com (now owned by Intuit, makers of Quicken and Quickbooks). Very simple to use budgeting/tracking web application.


Dec 02, 2016 at 11:19 PM
 

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Daniel Smith
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p.1 #6 · p.1 #6 · Looking for best way to track expenses and income


If you can't get a real envelope with days or weeks or months to slip receipts in and write it down - What makes you think doing it on a computer will be better?
How many computer workshops have you been to that went off without a glitch?

Either learn to do it the old fashioned way or be ready to lose everything with a computer glitch.



Dec 18, 2016 at 08:47 PM
dmcphoto
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p.1 #7 · p.1 #7 · Looking for best way to track expenses and income


1. If you are audited you'll need the paper records prove you actually spent what you claim.

2. Electronic records are far easier to deal with when it comes to categorization, sorting, quickly providing year to date totals, how many of a given image have sold, and the like. Your electronic records should be backed up as well as your image files with RAID, offsite backups, etc.



Dec 19, 2016 at 05:06 PM
JimKied
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p.1 #8 · p.1 #8 · Looking for best way to track expenses and income


I'm retired now, but in my former life I was a CPA and had the opportunity to meet many people that were organization-impaired. Most of these individuals were also technology impaired. For them, through Q and A, I determined how their work life was, where they would be transacting business and whatnot. I found that often an accordion file or envelop system would work for them. Under each system a slot in the file or an envelop would be marked for each job or client. The photographer would place in the file or envelope all bills and deposit receipts that related to a particular job. This would allow a basic form of direct cost accounting by job/client. With some basic understanding of the photographer's work life, we were able to develop methods to capture variable costs. For example, if the photographer worked out of a brick and mortar office and traveled out to client worksites, a simple solution may be for the photographer to keep a calendar or pad and jot down the name/locations he went each day for job related trips. We could use google or other map software to build a mileage log for the photographer. It isn't perfect, and some costs may not get captured, but it was better than nothing at all.

And just so that you know, those clients (mine, not the photographers) who later would input the accumulated information into a spreadsheet or accounting software would get a lower fee than those that made the firm accumulate the information from the raw data. I'll probably get misinterpreted here, but CPA's cannot audit their own work. So in this later example the CPA would have to work out a system with the client to have the data accumulated by a bookkeeping service (or do that themselves if they will not be auditing the information) before they audited it. And since there is rarely the need to audit most client records (sole proprieters, LLCs, etc.), the CPA can do the work, although there may be some limitations.

Assuming that photography is your business, the bottom line is that you must have records in the form of actual receipts, bills, and whatnot to support the claims you make for tax purposes. This way, if you are subject to a tax audit (sales taxes, income taxes, and whatever else your particular state may have), you will be able to support your claims.



Jan 04, 2017 at 04:45 PM
EA6B
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p.1 #9 · p.1 #9 · Looking for best way to track expenses and income


Quicken Home and Business.


Feb 02, 2017 at 12:45 AM







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