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

Transcription services are like any misc. production expense. These are deductible. But I would not group them with labor expenses, as labor is ALWAYS a separate tax issue, whether it be payroll or freelance labor. Freelance labor is one category and payroll labor is another. Labor, as you know, is subject to various regulations, while transcription services have not unusual issues.

Lee Miller
Miller Video & Film
San Francisco

--- In Avid-L2@yahoogroups.com, Mark Myers <MarkM@...> wrote:
>
> I would think it could certainly be a COG - but I have mine broken out
> more specifically. I use a "subcontract" account for this type of thing,
> along with freelance help. The problem with that is when your workman's
> comp carrier wants to know how much you spent on freelance help, vs
> subcontract to a company with their own workman's comp policy. That can
> get a little messy.
>
> Mark
>
> On 11/21/09 4:13 PM, wplate wrote:
> >
> >
> > 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
> >
> >
>
> --
> Owner/Director
> S.R. Film & Video
> 195 W Broad St
> Salunga PA 17538
>
>
> Cinematography, Still Photography, Copy Writing,
> Post Production, Web Hosting & Design
>
> Office: 717-393-5504 ex 142
> Cell: 717-203-0976
> Fax: 717-393-1833
>
> www.SR-Pro.com <http://www.sr-pro.com/>
>
>
>
>
> [Non-text portions of this message have been removed]
>

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