Any tips or pointers on record keeping?

[Jena Macato]

I am a new reporter trying to make sure I keep good records. :D Any tips or pointers on computer programs any one uses to keep track of their records (i.e. jobs, mileage, expenses) for tax purposes.

All advice is welcome. Thanks everyone!

[Marge Teilhaber (TILE hobber)]

Here's what I do:
1. Every day there's SOMETHING that crosses my desk that's tax-related: gas, monthly EZpass statement, cable bill, car insurance, phone bill, proofreading bill, a receipt from buy.com for a new external hard drive, so many things. I enter it in my 2008 taxes doc in Word all itemized and I put it on top of my monitor (an old-fashioned 22" monitor). When this monitor craps out and I join the 21st century and get an LCD thin monitor, I'll have to start using a wire basket.

2. Every couple of months, when the pile gets too high, I start putting these ALREADY RECORDED records into separate envelopes. I use the USPS priority flat rate mailing envelopes, which is technically stealing but ask me if I care, and sort my records into these envelopes which are labeled as follows:
2008 car
2008 postage & shipping
2008 hardware/software/equipment
2008 advertising (my NCRA PSL and my website bills, etc)
2008 client gifts, meals & entertainment
2008 conventions & seminars
2008 supplies (packing tape and new phones etc etc)
2008 reference materials & tech support
2008 prof'l associations & licenses
2008 proofreading
2008 telephone (land & cell)
2008 car (maintenance, gas, insurance)
2008 tolls
2008 garages
2008 charity
2008 health (doc visits, prescriptions, insurance bills)
2008 dental
2008 income (all 1099s and tax-related docs)
2008 non-retirement investments
2008 retirement investments

It’s a small effort almost EVERY DAY but it’s NOTHING compared to the drudgery of compiling it on one horrible day!!!! Once I enter the item in the doc, I SHOULD immediately put it in the appropriate Priority Mail USPS envelope but I frequently let that pile up and then have to separate a huge pile of them. but they’re all recorded in the 2008 taxes doc before they go on that pile and it doesn’t take very long to separate them into the 10 envelopes.

Any check I receive is recorded in 2 files in Catalyst (I have a file called "billed" where I put every bill and I mark paid when I get a check and I have a file called "paidbills" where I itemize each check and what it paid. That check is also noted in another file in Word called "bank statement & credit cards," where I note every dime I spend, copying from the web for my checking account & credit cards. Every deposit is noted, including any check I get (amount and who it's from).

Obviously Catalyst and Word are very important because everything is in there. that's why I have 2 external hard drives + Carbonite.

Marge

[Marla Sharp]

Hey, Jena. It's great you're trying early on in your career to stay organized. It's easy for things to get out of control, so get yourself into some good habits now and you'll be fine.

I'm attaching my spreadsheet that I use for every job I take. You can add your mileage on the spreadsheet. Also, some agencies require you fill out their own worksheet, so I just create another sheet in the spreadsheet for them. And I've created formulas so that it will take the info off the first sheet (my job sheet) and fill in the blanks on the other sheet. Make sense? If you know and love Excel, you'll love this. If not, you won't.

I've also attached what I call my "Due List." I list every job I take, and I fill in all the info, like how much I'm expected to make, etc. Then when I get paid, I put that in there, and it automatically deducts it and point out if I'm owed more money. Again, it's in Excel.

I'm sure every reporter does it a little differently. I know a lot of reporters use the DepoBook that you write everything in. I'm always in fear of losing things, so that's why I like having it on the computer. That way you can redundantly back up and also print it out.

Also, you can manipulat the data and find out fun things like how much you earned from each agency you've worked for, average amount made on each job.

Oh, and be sure to be diligent about keeping all of your receipts organized. Just create a filing system that works for you. You can buy one of those multi-pocket folder systems and make each folder a different category - car expenses, reporting expenses, etc. I create a spreadsheet for my accountant at the end of the year divvying up my expenses.

Feel free to email me with any questions ([e-mail]).

Marla