Jodie Burdette

I would like to start charging a late fee on past due invoices. I spoke with the attorney generals office here in WV and they told me there were no state laws governing this or business to business invoices. Are thre any federal guidelines I need to be aware of? I tried some Google searches but didn't come up with anything. I would have searched this forum but it seems that tool is no longer available. Thanks! Jodie "There are people who read too much: bibliobibuli. I know some who are constantly drunk on books, as other men are drunk on whiskey or religion. They wander through this most diverting and stimulating of worlds in a haze, seeing nothing and hearing nothing.” Burdette

I know some of you are (or used to be) resellers or affiliates for Intuit. I would like to purchase an up-to-date version of Quickbooks. I would like to find a low cost place to do this and if I can help someone out at the same time so much the better.

Thank you all for your help and a special thanks to Deb for putting all together so concisely. This was exactly what I was trying to figure out. Jodie "Your faith in yourself is all you will ever have. Don't let anyone take it away from you ever." Burdette

Yes how do I apply the payment (or to what account) so I can generate reports at year end to help me create my 1099's for my affiliates. I can do this in a spreadsheet but i really want to keep everything in Quickbooks if I can. Jodie "Depression is merely anger without enthusiasm" Burdette

You are going all around what I really need to know. How do I book payments to affiliates in Quickbooks? Or should I just keep a spreadsheet? Jodie "Cleverly Disguised As A Responsible Adult" Burdette

Do you mean send each affiliate a W-9? Jodie "Constipated People Don't Give A crap." Burdette

What is best way to book affiliate payouts and where and how do you write this off at tax time? This would be $$ I pay to those who are affiliates for my products and services. Jodie "I almost had a psychic boyfriend once but he left me before we met." Burdette

You are correct that this in non-compensated time, I am not getting paid. Basically I am creating a website for them and possible a couple social profiles and connect them together. Jodie

Thanks for all the great info. Great post Deb. I will post a comment when I get a chance. Jodie

I have started taking on a certain amount of work for various non-profits. What is right way to handle this is QB so it can be tracked for tax purposes? This will include both actual expenses as well as hours worked on the various projects. Jodie

Thanks I really appreciate it. Jodie

Do you have a favorite accounting related website, forum, facebook or other social networking group that you really love? I have an accouting client who is looking for some resources and I just don't have many myself that are accounting related. Jodie

I am using QB Pro 2009 and I need to setup late fees. I recently changed my payment terms so that past due balances are charged as follows: 30 Day Past Due 5% 60 Days Past Due 6% 90 Days Past Due 10% (reassessed monthly thereafter) I cannot figure out how to setup this up in QB. I have seen where you can setup annual late fees but not monthly ones. Do I need to manually calculate the 30 and 60 day past dues and just setup the 90 automatically?? Jodie

I will look into Freshbooks. However, can anyone answer my questions on QB as this client is quite likely going to be unwilling to change software at this point. Jodie

I have a client who is using QB Pro 2006 and they will be updating shortly. Currently the only thing they use QB for is invoicing: automatically entering repeating transactions and bulk printing or emailing them (and statements) as needed. We also track sales by Sales Rep and print out a report for use in calculating their commission. Will QB Online handle this? I plan to add a sub and we both need to be able to access the account. Is there a better or less expensive option? Can we share QB some other way? There used to be ways to share a hosted QB but not sure what the options are now. Jodie