Create Your Notary Invoice Template for Accounting Effortlessly

Notary invoice template for Accounting

hi friends welcome back to my channel or welcome if you're new here i hope you're all doing well i do have notary business and lifestyle videos so go ahead and subscribe if you want to follow along my journey in today's video we're going to be talking about bookkeeping i'm going to give you all the details on how i do my bookkeeping um do i have an llc business structure all that good juicy stuff um so let's get right into the video a quick disclaimer i'm not a cpa nor a tax advisor so i am not giving you by any means advice on how you should be running your business or your tax status or anything like that this is just my experience and just sharing what works for me and what i've been doing okay the first thing that we're going to be talking about so i a couple weeks ago i did post something on my instagram if you don't follow my instagram go check those out instagram and tick tock a lot of information and content there so i did post um a picture of me just working on my bookkeeping and updating my systems and all that and i got so many questions on how do you run how do you run your business how do you do your bookkeeping what are like the essential bookkeeping things that i should know um your tax formation do you have an llc so many questions came to my dms and of course i try my best to answer each and every one of them but it's getting really hard because i'm getting so many questions um so i decided to make a video also because i'm pretty sure that this is this is something that could be helpful we're just gonna break the video down a little into a couple different sections so the very first one and brief one i'm going to be talking about is do i have an llc the answer is yes i do and this is way more beneficial easier and just for my protection and for a million other reasons that i did get an llc it's just been a whole lot easier with budgeting and keeping track of expenses and obviously the business deductions and all that thing all those things so having an llc has been great i do file as an s-corp status um that is just what my cpa and i thought was more beneficial for my business and it has worked so basically what that means is that i am an employee under my business and i pay myself a reasonable salary so every single week i pay myself a salary i do have a payroll system set up so every single week on fridays i get my paycheck just as i work just as if i was working under any other company i could make business withdrawals or move my money into another account like savings or whatever if i needed to um but it's just way more beneficial it's awesome for budgeting and making sure you know where your money is going so that's what i've been doing with the llc um do i have a business account yes i do have a business account when i got my llc ready to go i went into the bank and i did open up a business account it was the very first thing that i did after getting my llc um i wanted it because again it would make it way more easier for budgeting and not mixing my personal expenses with my business expenses because it was getting like a little too messy and that worked out great just open a business account in a savings account um i just use the savings account to put in money for my taxes that i pay every quarter fun stuff being a business owner is fun i know um and so yes that is on the business account i do not have any business credit i am actually researching and working on what would be the best way to go about building business credit because i am very interested in that and later on maybe investing in commercial property but for now i just have that i'll keep you guys updated though business bookkeeping system you've heard me talked about this over and over again if you've been following along my journey you know that i am truth and faithful to notary gadget for my notary business i love their software and it's incredibly affordable and it just does everything for me all i have to do is go in and put my expenses input my signings and it does everything for me it'll even send out an invoice for me so so much just relief before using notary gadget i was doing the invoices by myself like on a war document and it was getting to a point where i couldn't keep up with them i had at the end of the day every single day six seven eight invoices to send and i could not keep up with it and then i discovered notary gadget and i'm like where have this where has to spend all my life notary gadget was kind enough to give us a free trial your first 15 signings that you input into the system are free you can sign up for free and then after the 15 you can if you like to purchase the bookkeeping it's a monthly subscription it's 9.99 a month and it's a tax deduction guys it's a business tax deduction so i would go definitely check it out i'll leave the link down below and like i said notary gadget does everything for me it made it a whole lot easier for me to do my taxes this year because i had it will make reports for you your profit and loss reports it'll have reports of who hasn't paid you invoices um invoices are due for more than 45 days more than 60 days like it'll give you alerts and you can keep track of your mileage of the notarizations that you've made so basically every notarization that every stamp that you so every document that you notarize is not subject to self-employed taxes so for example um let's just say you had a signing 100 and there was five notarizations in there it depends up to how much money your states allows your state allows for you to charge for notarization but in the state of arizona you can charge up to ten dollars per notarization so if i charge ten dollars for every notarization that signing had five so that was fifty dollars that are not subject to self-employment taxes notary gadget does that for you in your profit and loss reports and all that you just have to input how many notarizations every signing had amazing definitely recommend um now that is specifically for my notary business i am working on other different ways of income and i am receiving different streams of income that i'm still working on fairly new not that much money but i am starting to use quickbooks for that quickbooks is also an amazing software system it's just for general business you can scan a copy of your receipts and keep them digital with quickbooks which is an amazing feature i'm still trying to navigate it because it has a whole lot of just information and things but quickbooks is also an amazing bookkeeping system the last thing the bookkeeping the physical bookkeeping what should i be keeping records of this was a very asked question what should i be looking at for what should i be keeping records off and let me tell you so this is how i do my bookkeeping i have with me i don't even know if you can see this i printed it but it was like super light and i just haven't changed it basically can you even see this and then i started at 2022 the 2022 is way bigger than this because i already have a whole lot more expenses i started my business full time in june and i obviously wasn't aware of a lot of things to like end the year so obviously this year everything is like way more advanced than like last year what i knew last year or what i would keep track of last year so i did change a lot of those things so basically here in this binder i use these protectant sheets to keep all of my receipts anything that i um any receipts from any store that i buy or any receipts online i will print them and put them in here they're in order by the month they're like in order by the dates and so what i keep in here is receipts for everything so any donations that i make um like all my business we have i try to do them on like on behalf of my business any obviously receipts for marketing gas any receipts for um office supplies anything miscellaneous what else do i have meals anytime i would buy meals for the offices i would go to to market anything like that obviously i do have a signing service so my signing service is part of my llc so i keep track of all the payroll and everything that i pay out my notaries um what else so i just have a lot of random things in here well not random but i just have a lot of receipts here mainly is mo it's mostly just obviously my business insurance my eno insurance receipts um my google my business my domains my website business my website expenses all of that fun stuff is in here any shipping fees anything like that that i do have goes in here so it's been easier to have a business account because essentially anything that you're swiping your card with is a tax deduction don't get me wrong not everything is a tax deduction but essentially what you're using for your business or what you're supposed to be using your business for is a tax deduction so i would just say anything that you swipe your card with keep the receipt and then i think the the year you can go through your receipts with your cpa and then you can verify if that is in fact a tax deduction rather be safe than sorry and not have that receipt but anything of that sort anything that i buy from my office any furniture pieces any office equipment office supplies marketing advertising all those business cards thank you cards the meals obviously gas i keep all of my gas receipts but i also track my mileage with notary gadget um so essentially that's kind of what i do and so this year i am starting to do it different so last year i had them all in order i don't like want to show you like and then i also kept all of my 10.99 in here um a lot of companies sent out 10.99 and so that's anything tax related anything from the irs anything i just keep it in this binder this binder was perfect it fit everything and then i just have all my binders underneath this bookshelf that's where right down there i keep all of my binders so i have a binder for bookkeeping a binder for payroll binder for administrative tasks and just um like records of my business etc i do have a binder for everything um and so for this year my 2022 binder what am i doing different instead of putting them in order by the dates i'm gonna start categorizing and i'm going to start budgeting so essentially every single month every single different department in my business is going to have a budget so for example my marketing department is going to have x amount of budget my office um administrative i think administrative is what we're going to call it department it's going to have x amount the meals x amount and the only thing that i'm not limited to of course is the gas but other than that everything is going to have a budget and we want to stick to that budget um and so essentially i want to break it down to where i have like my marketing first my donations my licenses and my filings anything that i have to do with the business and or my commission renewal you know whatever it is um and like my insurance all that then we'll have office supplies you know etc etc so i want to break it down just because i feel like my money is going everywhere and nowhere at the same time it's hard because it's been hard to keep track of my money and i've been trying to talk about this and like budget and essentially what i've been doing that has been helping but then at the same time i'm like do i really want to be doing that is as soon as i deposit checks i'll deposit checks like twice a week essentially just so a big chunk instead of like depositing a bunch of like like 100 one day and then 300 another day and a thousand one day like i just hold them all for like twice a week and i go make those deposits and that as soon as i make those deposits i grab a chunk and i put them into like my savings i have a personal savings and a business savings i don't want all of my money just like in savings i obviously want to invest but i know that i want to grow my emergency fund first and my business savings is just for taxes that's mainly what it is or unless i have a big business expense that i want to do if i want to open my office or buy like a big office equipment that would just go under like my business savings but yeah i would just say you have to keep track of the money you're working really hard for the money that you're earning just to like go wild and spend it everywhere you just have to know where everything is going and it's gonna take time it's going to be stressful sometimes but it'll just you have to get a system i told myself that every month by the end of the month i was going to update my bookkeeping system and i didn't and by the end of the quarter i was i just had so much things to add on to notary gadget and quickbooks and add on to my binder and i just let it piled up on me so the best thing you can do is at least once a month keep updating if you can every single week at the end of the week that would be amazing or by the beginning of the week but by minimum please update your bookkeeping system once a month it will save you time stress make things easier on yourself so i hope i hope this video was helpful i hope it answers some of your questions if you still have any other questions feel free to comment down below i will be answering as many of these questions that i can just to really help you guys out i i was i once was there where i had no clue what i was doing i had no clue what i needed to do i just had no clue and i was i just figured out little by little with time with seeing other people do it with hearing other people and doing researches and doing research and just youtube videos all that great stuff podcast helped too in books and all i can say is you'll never stop learning you always keep on learning and finding better ways to work hey go ahead and check out the links down below if you want to look for if you want to find my amazon start friend and any links that you might need i do have printers and all the office supplies that i use let me know if you want an office tour i've been requested that video for a couple times but i did kind of update a little i'm still working on it though but let me know thank you guys let me know what else you'd like to see from me please like and comment this video i hope you have a blessed day bye [Music]