How much 'accounting' do you do on your own?
 

For your personal records, do you do a balance sheet each month to see how much expenses are, how much income you're getting, as well as forcast for the near future?

It would probably be a great way to keep track of progress (or regression), yet I haven't done this in all the years I've been working. I just sort of play it by ear.

Do you let 3rd parties handle this stuff completely like an accountant?

yup got a excel sheet with turnover stats exported from ccbill, and a 2nd page for the affiliate admin sales (from nndutch etc), formulas underneath for forecast, trends, affiliate % sales etc etc...

got that since day 1, id like to know where dutchteencash is going :) (up up away... err sorry that was the first pornmovie i saw lol)

Did you also do this before operating dutchteencash?

yes been a key account manager for a big electronic firm for many yrs...

i do it all for my S-corp. just hand over the QuickBooks file to my accountant so they can make it pretty for me to mail in.

i keep track of it a little bit but let my accountant handle most of it.

and then one day you wonder what these misc expenses times $1000 are... no way just like lawyers you cant trust accountants, they dont have the same goal as you do... id like to know where the moneys going, doesnt matter if its 1 cent or 10k

That's always been my concern with accountants.

How do you determine what is a fair fee you should be paying an accountant for their services? And how do you come to this value?

Yup. I do it for both business and "home".

accounting....whats that? :winkwink:

I started doing it but have been quite disorganized as of late. This serves as a reminder for me to get my act together, thanks!