You Should Read About Basic Bookkeeping And Accounts For Self Employed Construction Workers

Every drywall guy and carpenter needs to know about basic bookkeeping and accounts for self employed construction workers. Now that does not mean you have to have a degree in accounting. Keeping track of money is not that hard

Everyone should keep any piece of paper that deals with work. These are the receipts, the agreements, contracts and even estimates along with letters and emails. This is not as time consuming as you might think. You do not need file cabinets and computers. Although a computer sure helps at tax time.

But, this is not a tax class. Right now you need 3 pretty good-sized boxes, at least as big as a sheet of paper. Label them where it is easy to read them. One will be called spent, another received and the last one is other. They should have lids too.

Okay, now, if you paid for it, it goes into spent. This means anything whatsoever that is job oriented. Gas to get there, tools, materials, construction clothing including safety boots, gloves, hats and belts or suspenders. If you wear it or use it on the job it counts. It would be good to jot down what job on the back of the receipt. Do this every day.

If you bought a first aid kit for your truck it counts. The truck may count too but if you use it for anything but work, ask an accountant for help. Keep all your gas receipts since you likely drive to work more than other places.

Every paycheck stub, and cash paid to you needs to be noted for the RECEIVED box. If it was barter or cash make a note of it. Remember this is for you not the tax guy. You want to know that you are making money or losing it.

The final box gets every contract, estimate and piece of correspondence that deals with work. Keep a folder in your email account for business emails. Keep these separate. You might use job folders for email since it is probably your most frequent means of communication.

Total up the amounts on the pieces of paper in both boxes each month. You can put that number on the underside of the lid. Then subtract the two numbers. Now you know how much you made or lost this month. Put that number under the lid of the other box. Best to note what month too. Now, at least an accountant will talk to you.

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