Are you keeping good records?

[voiceoverwork]

Well it’s December 14th here in the good old USA, and like many business owners I’m looking over my sales and expenses for the year, my tax liabilities, my successes and my failures. 2012 was an up and down year for my business. Sales were very uneven. On the other hand, my wife’s business had some peaks and valleys, but remained steady. Still her 2012 sales are even with 2011.



In the US and in many jurisdictions throughout the world, engaging in selling goods and services constitutes what can be simply described as “doing business”. It does not matter whether your business grosses 5 million dollars a year or 50 dollars a year.



The moment you represent and sell a product or service to any individual or entity, you set in motion a process that requires careful thought regarding the legal, ethical and moral aspects of “doing business”. And the moment you accept pay in return for goods or services, you create a liability and a level risk.



I read about fiverr folks who fail to keep any account or record of the transactions they are doing on fivver. I am not an attorney or an accountant. However I have owned and run small businesses for over 54 years and in the process learned a little about the “business” side of business.



Protect yourself (and your customers) by setting up a book-keeping and client tracking system for everything you do on fiverr (and anywhere). It needn’t be complicated. A simple spreadsheet will work. Save all business communications. Keep a record and description of all your products and services; dates you began offering them, dates you stopped offering them. *** And, always consult an attorney and/or accountant in your area before making any business decisions.



Here’s to a great 2013!

[aweberr]

voiceoverwork said: setting up a book-keeping and client tracking system for everything you do on fiverr (and anywhere)

The Fiverr cash is finally withdrawn to Paypal so is it not enough that we keep track of the Paypal withdrawals. I mean the tax department really wont go so deep as to asking where the money came from specifically once you tell them that it came from one source. As in, Fiverr sent you some money to your paypal account, so you list the entity "Fiverr" as a source of income and that should do, I suppose.

 

[anarchofighter]

I was thinking of selling this. However, in the spirit of community. Here you go. It will require XLS 2007 or higher. It is a complete XLS spreadsheet for your fiverr Business set and ready to go for Jan 1 2013



It is fully commented. I’m not offering ANY support. However, if you really get stuck, I do have a consultation gig you could order and I would honor.

[topusaseller]

i started my fiverr account in last week.but now i got a fast development withn my knowledge.i think ,important thing is skill.If anyone have skill they can be a rich person

[anarchofighter]

videoconcepts said: Great post, thank you Sir.

 

You're welcome. Hope you use it.

[anarchofighter]

It seems your right.

[anarchofighter]

I don’t … I’ll make a gig and make that one gig BOGO so it’s a super deal. Going to make the video now … LOL

[anarchofighter]

Is the video.

[dracosama]

Really like the idea of that spreadsheet there.

[bigbadbilly]

I do keep records, although they are spuratic. Sometimes I get overwhelmed and… well… I can be kind of lazy. LOL.



So they’re probably not 100% accurate, but close. I also live in Canada, so it’s a little less strict here, so long as I maintain it’s a hobby if ever questioned. LOL

[anarchofighter]

I like your profile, VoiceOverWork

[Guest tn5rr2012]

Great post and since I only have one gig my records is pretty short plus my paypal account tracks all my revenue for me

[voiceoverwork]

Reply to @tn5rr2012 Well I hope you get more gigs! There’s more to it than just tracking revenue. It’s keeping track of individual buyers, and general book-keeping. I never rely on a 3rd party like PayPal (one of several ways I collect money from customers) to do my accounting for me. 🙂

[liongabriel]

Reply to @anarchofighter: Can’t see y

[liongabriel]

Reply to @anarchofighter: Can’t see your file, would you repost? thanks!!

[liongabriel]

Reply to @anarchofighter: Can’t see your file, would you repost? thanks!!