Billing Question

[newmeat]

I'm just starting out and I have a couple potential customers. I'm operating as as sole proprietor and I want to now how I should tell my customers to pay me. Should they make checks payable to my company name or should I have them use my own name.

Thanks in advance to anyone that can help.

[ECS]

Company name if possible. I bill all of my customers at the end of the month or on the first of the month for all work done for the month. Some are email and some are snail mail. Most of thm write the check to the company, and some write it to me. It makes it so much easier when my wife picks up the mail to be able to cash them. The ones written to me, she has to bring home and have me sign them before she can cash them.

[newmeat]

Thanks for the help ECS. I havent had a chance to open up a business checking account. I want to keep my business money seperate from my own money. I didn't know if it mattered for tax reasons. I have another question that you or someone else might be able to help me with. I understand that you have to pay quarterly taxes on profit. But if you have spent all this money for mowers and Insurance and advertising etc. and you owe money for it, plus your day to day exspenses. At what point is it profit? When everything is paid for? Iam in the process of looking for an accountant but I would appreciate anyones help. Again, Thanks for your help.

[boazcat]

Yes, your "write-offs" will cut into your "profit". All of those expenses will be filed at the end of the year. So far, because of my other full-time job, I haven't had to pay quarterly taxes because I continue to break even or get a refund. Your accountant will explain all of this to you.

Michael

[newmeat]

Thanks boazcat, I just started to get some calls for some quotes and Im just about ready to go. I spent a lot of money and havent made a dime yet. I have a full time job and plan to start part time. I hope to break even this year and then give it hell next year. Thanks again Dave

[GeeVee]

I smell some thing fishy......

[Squeegee]

If you don't have a business account you may have to have your customers make the check out to YOU. Be sure to check with your bank before you start receiving checks. Most banks will not deposit checks made out to a company into a personal account. Even if the company is Blo's Lawn Service and you're Joe Blo.
Jeff

[newmeat]

Thanks squeegee, I will be opening a business account soon. So much to do so little time. Hey What do think about Hustler Mini Z? 19/44 23/44

[GME12]

You Should Have A Seperate Business Account And Have The Customers Always Make The Check Payable To Your Business, Otherwise You Can Get Yourself Into Trouble.

[grnshoes]

My bank will not allow me to deposit business checks into my personal account. This was quite a problem until I opened the business account. You also might want to check out several banks fees for business accounts. my original bank wants to charge for every transaction plus a monthly fee. I did find a bank that has a free business account for sole propriators.