Keeping Track of your Money
Posted 15 December 2008 - 11:05 PM
Once you get into the routine or using the spreadsheet, it feels great keeping track of everything, and knowing that you are getting paid for your work.
Below are links to the PDF and an XLS of the system I use...feel free to modify it to suit your needs. Mine has evolved quite a bit, and I love the flexibility of the spreadsheet.
I have mine uploaded to google docs, so I can change the information anywhere that I have access to a computer.
Let me know what you think. I am also interested in hearing what you guys do to keep track of your money and finances and also, any changes you have made to my forms.
The information in the spreadsheet is entirely fake.
If you have any questions, please ask.
https://spreadsheets...B...t=pdf&gid=0 - PDF
https://spreadsheets...amp;single=true - XLS (For Download and customization)
Posted 15 December 2008 - 11:10 PM
Posted 15 December 2008 - 11:21 PM
One thing I find useful in my spreadsheet is a graph of all the invoices I have showing the net-job profit. Gives me a quick visual idea of how much I'm making. Thanks for these Jamie. I too can't stress the importance of spread-sheet skills
I used to do that as well, but I found this to work better for me. Considering I've been doing this style for a year, I just made a 2009 sheet and I am thinking about making a graph that compares the years totals against eachother.
I was thinking about doing that for the months, but then I don't want to be "that" guy saying "november was a bad month for me", hahaha.
Can you show me what yours looks like? ( no homo )
Posted 15 December 2008 - 11:26 PM
adrian at adriansierkowski.com
I like my graph It just lets me see it on a job by job basis, and as I do my invoices as numbermonthdayyear (e.g 32121508 would be job #32 on this sheet from date 12/15/08) it's nice to see a graph and say, hmm...
(p.s. I am much more embarrassed by my "total for yr" which I think it still negative!)
Posted 15 December 2008 - 11:35 PM
I recently added the "Invoice #" Column to the Spreadsheet, since I now reference the jobs by invoice # on my invoice and on the spreadsheet. Just one more way to keep track of things.
I also "charge" 1.5% interest on anything over 30 days, unless the client specifies something different. I've never had to charge, i usually keep an eye on the date I sent out the invoice and send a reminder a week out.
Posted 15 December 2008 - 11:43 PM
Posted 16 December 2008 - 11:22 AM
This way my Schedule-C is all my QBP data and my 1040 is all from my Quicken. Not to mention the integration of Turbo Taxes helps keep me straight with the IRS. I would highly recommend these because of all the deductions we can take for our work is crazy... but also means a greater risk of an automated audit popping up.
Posted 20 December 2008 - 03:51 PM
I was talking to someone else in the 600 about the very same thing. I think I should look into quickbooks and quicken.
I'm starting to save receipts for everything and I'm thinking that I need to speak with my accountant about how to do that correctly.
Much appreciated info!