I often learn things the hard way. And again did so when I closed an account.
We’d moved from one part of the state to another and I set up new writing accounts (checking and savings) at a new credit union. After several weeks, I closed the accounts at the old financial institution. Then a few days later, I realized I wanted to look at an e-statement on the old account. However, no more online access! I called customer service to see if there was a way to get those past statements. Yes, for $2.50 each statement. Ouch. And they only had 6 months’ worth. I took them.
That got me to thinking. When we long ago switched from receiving paper statements to e-statements, it never occurred to me that I should download copies. I looked at our family accounts—there were e-statements back to September 2017 (28 months—length of time varies at each financial institution), so I saved all those copies. (Printing to pdf is my favorite method if the site doesn’t offer downloading as a pdf.) I need to do the same with my Visa account.
Why does this matter to us creatives? It may never matter. Unless you get audited by the IRS. Those statements substantiate that meal you bought while at a conference, the hotel bill, airline tickets, webinar and writing event fees, etc. You may have receipts for all these which makes the bank statement less critical, but it seems I always have something where I didn’t get a receipt. Those statements are a nice backup.
I also find them useful when preparing my taxes. I keep a spreadsheet of writing expenses, but sometimes have entered something without the amount. It’s quicker to look at a past statement than going through the receipts.
And speaking of receipts, many are in my email. I don’t usually bother to print them out or save them as a pdf. I think I should begin to do the latter. Not sure how far back I will go, but definitely for 2019. Perhaps there are other options. I’ll address those in another post.
My friend Debra has been working hard on uncluttering her house. Some items she’s sold; others she’s given away. She recycled and tossed. She spent all day Saturday on papers. Now Debra’s finding herself enjoying a room that had previously been a catch all. This inspired me to take a look at my office. I haven’t been writing in there for several reasons, but the one most appropriate for this post is the clutter. It makes me feel guilty when I look at it. Which doesn’t promote creativity. And even though I hate not finding things I want, I’ve procrastinated from attacking the mess because it was overwhelming.
I’ve talked several times about writing expenses and income, and often share my spreadsheet templates via email. (See posts
I decided it was time to add to what I’ve learned about keeping track of writing business expenses. You can see my initial post
The first step in submitting electronically is to KNOW WHAT THE AGENT or EDITOR WANTS.