Saturday, November 21, 2009

[Avid-L2] QuickBooks: What account to use for transcription

This is a QuickBooks question, but it is totally on topic since it regarding accounting for video production. Many of you are like I have until now been: editors without a single care about accounting. I still don't care much about accounting, but Wes Plate, Inc. is back in business so I find myself in QuickBooks a lot. Surely if we find the answer this thread will help others.

I'm hoping one of you who also deals with bookkeeping can advise...

So I'm paying for some transcriptions (I'm going to post a blog entry about the experience on my blog this week), I'm wondering what account I would use to record the expense. I probably have to create a new account, would be a different kind of account than an "expense"? It isn't Cost of Good Sold, is it?

Gracias!

-wes

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