We'll proactively touch base with regular bookkeeping updates for your ghostwriting business. Have urgent queries that need immediate attention? We promise to respond to your concerns in one business day or less.
With our platform, ghostwriters can efficiently automate data inputs from major providers, minimizing common errors. We have established partnerships with big-name collaborators such as Gusto, Stripe, Shopify, and Square—an assurance that your finances will always remain precise.
Say farewell to heaps of invoices and the hassle of lengthy manual tracking—we automate inputs directly from your linked accounts. Offering crucial insights from one unified platform, Bench Accounting makes it effortless for ghostwriters to gauge the state of their business and execute strategic decisions.
DR. BUKKY KOLAWOLE
As a ghostwriter, managing your income from different clients can be a bit tricky, especially due to the nature of the job. Here's how you can simplify your income tracking:
- Set up separate accounts: Having separate accounts for business transactions and personal finances helps to keep track of your income and expenses better.
- Use financial software: Software such as QuickBooks or FreshBooks can help you manage your finances, track bills and expenses, and even generate invoices for your clients.
- Collaborate with a bookkeeper: A dedicated bookkeeper can monitor your financial transactions, file your taxes, negotiate with vendors, and help you make informed decisions based on your financial situation.
- Regularly update your income: Regardless of the method you use to track your finances, it's essential to update your records regularly. By doing this, you'll be able to keep track of where your money is coming from, and stay aware of how much you are making.
Here at Bench Accounting, we provide expert bookkeeping services tailored to meet the needs of individual professionals, such as ghostwriters. You'll get a dedicated bookkeeper who understands your business and can provide you with real-time updates on your financial situation. Whether you're looking to track your income, manage your expenses, or prepare for tax time, we're here to help.
Yes, expenses related to your ghostwriting business, such as research materials or home office costs, can potentially be written off. For independent contractors or sole proprietors, business-related expenses are often tax-deductible. These may include not only direct costs like paper or ink, but also a portion of your living expenses like rent or utilities if you use part of your home as your office. As rules can vary, it's recommended to consult with a professional to ensure you're meeting all requirements and maximizing your deductions.
Bookkeeping services play a crucial role in managing royalty payments. Firstly, a bookkeeper helps you track incoming royalty payments to ensure they are received in a timely manner and match the agreed-upon amounts. By consistently monitoring these transactions, any discrepancy can be detected and addressed quickly. Secondly, bookkeepers also record these payments accurately to maintain an organized financial record, which significantly aids in reporting. They help you comply with financial reporting standards and tax laws, ensuring accurate reports are made and avoiding penalties or issues with the tax authorities. Thus, bookkeeping services are a vital tool to manage, control, and report on royalty payments efficiently and accurately.
Nope! All bookkeeping is completed in-house.
Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.
We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.