Accounting

Bet you didn’t know I have an accounting degree. Okay, some of you probably did. But wait, you say, isn’t this a site about writing? Yes, it is. And all things related to writing, including keeping track of writing income and expenses. Sad to say it’s necessary and a part of the writing life.

How do I keep track of those things? In a spreadsheet. It’s not glamorous, but it serves its purpose. And that purpose is to keep info about what income I get from my books and what expenses I’ve paid. At the end of the year I can total those and plop them right into my tax return. What about stuff like expense categories, e.g., editing services vs. marketing? Indeed, when I enter a new item into my list on the spreadsheet I give it a category. When the time comes, I can sort them or even get real fancy and create a pivot table.

Do I need a juiced-up, expensive accounting program or a real bookkeeping service to take care of this? Not in my current state of publishing. When I sell a LOT more books then hopefully the answer will be yes. I can see how people who make a living off their writing wouldn’t want the distraction of doing their own accounting work. I get it. I studied it for four years. For now, a simple spreadsheet will do.