View Full Version : Clients paying with cash
Just starting off, this will be my only way of collecting funds, how do you guys go about collecting with giving receipts?
I'm assuming I could just buy the double receipts where the client and I each get a copy, so I can keep for tax collecting purposes?
EdgarAllanPoe
08-19-2011, 07:45 AM
i don't give receipts.....if they ask you for one, worry about it then.....
I use quickbooks to log my payments and there is a option in there to print receipts but thats a lot of paper/ink to be spending on something they'll prob just throw away.
If they're paying you session to session i wouldn't worry about it unless they asked for one
I use quickbooks to log my payments and there is a option in there to print receipts but thats a lot of paper/ink to be spending on something they'll prob just throw away.
how much does that cost you?
cfafitness
08-19-2011, 10:53 AM
I use one of those cheap receipt booklets from office depot. They pay in advance ad I give them a receipt
I use one of those cheap receipt booklets from office depot. They pay in advance ad I give them a receipt
Thanks, i was looking for something like that
jeffsmith2
08-19-2011, 04:47 PM
I have a receipt book handy if they want it and when I sell a package I usually give them an invoice for their records.
EdgarAllanPoe
08-19-2011, 05:51 PM
Quickbooks is free up to 20 clients I believe....u can do a whole lot with it but I just track my sales and whenever I have a business expense like buying dbs I put that in. It keeps track of your budget and can be handy come tax season. I may get a quickbooks for dummies to learn a little bit more
Palermo1
08-19-2011, 08:44 PM
If you have an llc, I thought they just tax you personally and not your business? I guess even if they taxed you personally you would still have to keep track of profit/expense?
EdgarAllanPoe
08-19-2011, 10:16 PM
If you have an llc, I thought they just tax you personally and not your business? I guess even if they taxed you personally you would still have to keep track of profit/expense?
yeah, you pay taxes like normal but you can still write off business expenses and i'm sure theres a ton of tax saving things for running a small business.....
wesh83
08-20-2011, 08:04 PM
If you are considered 1099 or self employed track your mileage, it is a great tax write off. I drive about 30 miles a day including to and from work, between 3 different gyms and so it makes for a nice chunk off. Also you can write off shoes, shorts shirts anything you wear for personal training purposes because this is your "work attire". Also for guys who have just started training and may not have a full load of clientele at this point I highly recommend checking out Mass Nutrition dot Com, as far as supps go I could get them cheaper than the gym can where I manage for the most part then I sell and make a descent profit for about half what GNC charges. Just some things I have learned over the last 5 years.
Palermo1
08-21-2011, 09:16 AM
For the guys with an LLC, Do you have a separate bank account for your business like a business checking or do you run it out of your personal account?
For the guys with an LLC, Do you have a separate bank account for your business like a business checking or do you run it out of your personal account?
Yea, I have 2 separate banks. I find it much easier that way