Wednesday, Jun 13, 2012

Wednesday Wisdom (Business): Keeping Things Straight

A very important part of running a writing business involves keeping accurate records. There are few things more embarrassing than sending the same article or story to an editor who rejected it a few months before.  Such an action will mark us as either rank amateurs or totally disorganized, neither of which is helpful to our writing career.

So what kind of records should a writer keep and how?  Here are a few tips that will help keep the business side of your writing career flowing smoothly:

1) Keep a log of all submissions. Include the dates of submission and all responses from all editors.  You may also wish to include how much you were paid for your piece.

2) Keep a log of all tax deductions for which you are eligible as a business owner.  Tax laws change periodically, so be sure you remain up to date or hire an accountant.

3) Keep track of mileage directly related to the operation of your writing business. For example, when you speak at a writers’ conference, record your beginning and ending mileage so that you can either be reimbursed or list the mileage as a tax deduction.

Keeping accurate records along the way will prevent stress and frustration later on.  There are few things worse than not being able to find an important paper when you need it.  With modern technology, we can even choose to become totally paperless while keeping all important information on computer. Just be sure you have adequate backup for all of your important files.

How do you keep accurate records for your writing business?  What tips would you like to share for staying organized?

Photo Source: Microsoft Clipart

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One thought on “Wednesday Wisdom (Business): Keeping Things Straight

  1. Spreadsheets are great tools for keeping records straight. Thanks for mentioning them. I too still use the envelope system for receipts. Scanning them into my computer is an option, but I think that would be too time-consuming.

    Again, thanks for your post. 🙂


    June 14, 2012 10:13 PM