BOOKKEEPING FOR CONSULTANTS
Bill Golton, Moderator
John Newport
Ron Bihovsky
Our Vast Audience!
What Needs to be Recorded
• Billable Time by Job, with details
• Billable Expenses by Job, with details
•Tax Deductible Expenses sortable by category
• Invoices
• Accounts Receivable
Bookkeeping Options
• Pen and Paper, Template for Invoices
• Spreadsheets, Templates for Invoices
• Specialized Software
• Hired Bookkeeper
TAX PREPARATION
USE SPREADSHEET
- RECORD ALL EXPENSES CHRONOLOGICALLY USING A
SEPARATE PAGE FOR EACH GENERAL TYPE (BUSINESS,
RENTAL INCOME, MEDICAL ETC). TRY TO BE
CONTEMPORANEOUS.
TYPICALLY USE 4 COLUMNS
DATE CODE AMOUNT DESCRIPTION
AT YEAR'S END SORT BY CODE , SUBTOTAL BY EACH CODE
TYPE, PREPARE A SUMMARY SHEET AND GIVE TO MY
2009 CHEMVENTIVE EXPENSES Mi l eag e rate 5 8.5 c/m
DATE TYPE AMOUNT DESCRIPTION 01/0 8 MIL ES 40.9 5 CHF JPS Ja n meeting 70 miles round trip 01/0 8 PARK 6.00 CHF JPS Ja n meeting Parking
01/1 2 SUPL 39.9 9 Stap les- th umb drives
01/1 2 SUPL 4.80 Priority mail of Questyle's Confiden tia lity Agre ement 01/1 3 SUPL 77.9 8 Stap les printer ink
01/1 4 SUPL 26.4 6 Stap les tra nspara ncies for CCN prese ntation
01/1 4 MIL ES 23.9 9 Visit to Rena issance Tech – roun d trip mileag e 41 01/1 4 TOLL 4.00 Brid ge toll for Cheminno lab mtg
01/1 4 MIL ES 28.6 7 CCN Jan meetin g (I was th e Sp eaker) 49 miles round trip 01/2 8 MAIL 4.95 Priority mail of proposa l to Sig htset Inc.
02/1 1 MIL ES 28.6 7 CCN Feb meeting 4 9 miles round trip 02/1 1 DUES 25.0 0 CCN Feb meeting fee
02/1 2 MIL ES 40.9 5 CHF JPS Feb Mtg 02/1 2 PARK 6.00 CHF Feb Mtg parking
02/2 5 MIL ES 23.4 0 ChemInnoLa b Partners meetin g 4 0 mi8les rou nd trip 02/2 5 TOLL 4.00 Brid ge toll for Cheminno lab mtg
02/2 6 MIL ES 47.3 9 Meeting with accou nta nt 8 1 miles round trip 02/2 6 TOLL 4.00 Brid ge toll for accounta nt mtg
03/0 6 TAX 47.3 9 Meeting with accou nta nt 8 1 miles round trip 03/0 6 TOLL 4.00 Brid ge toll for accounta nt mtg – taxes finishe d 03/1 1 MTG 25.0 0 CCN Me eting Fees Ch emventive C.No
03/1 1 MIL ES 28.6 7 CCN march meeting 4 9 miles round trip
03/1 2 SUPL 79.9 9 Replacement Cab le Mod e m Best Bu y b y Visa
03/3 1 FEE 42.0 0 PO Box for Chemventive L LC rene wa l -pa id onlin e with Amex 04/0 2 MAG 88.9 9 Ne w Scien tist subscriptio n Visa
04/0 8 MTG 25.0 0 CCN april mtg
04/0 8 MIL ES 28.6 7 CCN april meetin g 4 9 miles round trip
04/0 8 INS 126.00 State Farm Umbrella Insurance C.No 4 380
04/1 0 FEE 420.00 Katlee n Tomljenovic 20 08 Tax preparatio n Ch emventive ch equ e 04/0 8 FEE 1000 .00 Flaster Green berg reta iner
05/2 1 FEE 169.00 Nationa l Re gistered Age nts Inc Chemventive check 12 4 05/2 7 PARK 11.0 0 Parking for Stimulus Co nference
05/2 7 MIL ES 40.9 5 Roun dtrip mileage for Stimulus Conf 70 miles
05/2 7 MAIL 20 0 5 FedEx of Sigh tset contract to Sigh tset p aid with AMEX