While you may prefer scouring antique shops for the perfect wall sconce over setting up an escrow account or reconciling your credit card and bank statements, staying on top of your accounting responsibilities and making sure your taxes are in line are crucial to keeping your business above board.
Despite what you may believe, managing your books is not something to be feared. Justin Masonek, who updates Excel sheets for fun and has helped countless designers with their accounting, will help demystify for you all things numbers related so that your books are in order and you’re in good standing with Uncle Sam.
In this class, you will learn:
- How to track orders, prepare invoice packages, reconcile monthly credit card statements and bank accounts, and maintain profit and loss sheets
- The importance of collecting sales tax and how to identify taxable items
- The step-by-step processes for filing sales tax, bank account and credit card statements
- How to maintain back-up while going “paperless”
By the end of this class, you will have:
- Accounting spreadsheets that will help you to run your business more efficiently
- Example reports for reconciling bank and credit card statements
- A plan for properly collecting and paying sales tax
JUSTIN MASONEK HAS BEEN PROVIDING ACCOUNTING AND BUSINESS MANAGEMENT SERVICES IN NEW YORK CITY FOR OVER A DECADE. UPON RECEIVING A DEGREE IN ACCOUNTING FROM BOSTON UNIVERSITY, HE ESTABLISHED A PRACTICE PROVIDING FULL-SERVICE CONSULTING SERVICES. AFTER LEARNING A SOFTWARE SPECIFIC TO THE INTERIOR DESIGN INDUSTRY IN 2007, HE FOCUSED HIS PRACTICE IN THE FIELD. RECOGNIZING THE NEED FOR STRONG ADMINISTRATIVE SUPPORT IN THIS COMPLEX INDUSTRY, HE PRIDES HIMSELF ON DOING “JUST ABOUT EVERYTHING EXCEPT THE DESIGN WORK.” THIS INCLUDES MANAGING THE CLIENT AND VENDOR PAYMENTS, OVERSEEING THE EXPEDITING PROCESS, MANAGING THE SALES TAX OBLIGATIONS AND PREPARING ALL BUSINESS REPORTS TO PROVIDE TAX PREPARERS.