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

I'll stand corrected if someone has specific accounting knowledge, but I
take it as an expense. Again, my CPA doesn't correct me on that point. FWIW.

Brian

wplate wrote:
> Is it an expense? or COGS? I don't know enough about accounting to know the difference. I just started reading "QuickBooks 2009 ALL-IN-ONE for Dummies" and it has a sub-book about the principles of accounting. I have a lot to learn.
>
>
> --- In Avid-L2@yahoogroups.com, "B Conner, Avid" <bconner.avid@...> wrote:
>> Wes,
>>
>> Long ago, I created an Account in QuickBooks Pro named "Production
>> Services". Works for me, but then, I don't need my accounts to fit into
>> standard numbered accounts.
>>
>> My CPA has never dressed me down for it, so I guess it's OK . . . . for
>> me and my LLC.
>>
>>
>> Brian Conner
>>
>>
>> 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

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