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Accounting and Taxes and Non payment

by samuraiwriting
5 replies
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Oh Warrior Forum Members! I need help understanding how to do this! I mainly provide services (articles, keyword research, etc.) and do not get paid until after the service has been completed.

I have been marking what I have done in an Excel sheet for each day. How many articles, how much I made, etc....
I then came across one person that has not paid me for a $210 order from 1 month ago. I have submitted the invoice thru Paypal and remind him every week to pay.

The thing is that I already reported this as income in the Excel sheet. What should I do? How do you keep up with income per day and who has paid and who hasn't?

Ugh! I am so confused. I have Quickbooks software. Should I be using that? I really need a better method of keeping up with this stuff.

Also, does anyone know how I can handle this non-payment with this guy? That is a lot of money and took a lot of time to write the articles!
#accounting #non payment #taxes
  • Profile picture of the author TheChanger
    Originally Posted by samuraiwriting View Post

    Ugh! I am so confused. I have Quickbooks software. Should I be using that? I really need a better method of keeping up with this stuff.
    Quickbooks is a great tool. I am currently using QuickBooks Pro 2009. What version of QuickBooks do you have? I suggest that you start using QuickBooks right away. It will save you a lot of time and mental energy. You can contact a local QuickBooks Pro Advisor if you are not certain how to setup and use the software. They usually charge around $65/hr.
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    • Profile picture of the author samuraiwriting
      Originally Posted by Gordon Hay View Post

      Quickbooks is a great tool. I am currently using QuickBooks Pro 2009. What version of QuickBooks do you have? I suggest that you start using QuickBooks right away. It will save you a lot of time and mental energy. You can contact a local QuickBooks Pro Advisor if you are not certain how to setup and use the software. They usually charge around $65/hr.
      Thanks for your answer! I have Quickbooks 2007. I actually had an advisor go over it with me a few years ago when I had purchased it but it's been so long ago. I wasn't sure if it was applicable for this business or not. I guess I'll have to set aside some time to go through it. Excel was easier to set up but now I'm getting confused with everything that's going on. I'll try Quickbooks -- thanks!
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  • Profile picture of the author seasoned
    Just declare it a loss this year. The IRS has always allowed you to deduct losses against income in the same category. For a copywriting business, both WOULD be active income/loss.

    BTW I believe you COULD file an amended return for the last period, but I wouldn't recommend that for such a minor thing.

    Steve
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    • Profile picture of the author samuraiwriting
      Originally Posted by seasoned View Post

      Just declare it a loss this year. The IRS has always allowed you to deduct losses against income in the same category. For a copywriting business, both WOULD be active income/loss.

      BTW I believe you COULD file an amended return for the last period, but I wouldn't recommend that for such a minor thing.

      Steve
      Yeah - as much as I hate to, I guess I will have to. I don't have the person's address for small claims court so I don't know what else to possibly do. Thanks!
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      • Profile picture of the author seasoned
        Originally Posted by samuraiwriting View Post

        Yeah - as much as I hate to, I guess I will have to. I don't have the person's address for small claims court so I don't know what else to possibly do. Thanks!
        Small claims court can cost like $50+!(It varies by state and possibly city/county) It wouldn't seem worth it for $210! And it is only 1 month, give them time.

        Steve
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