Please do a video tutorial on how to report TikTok Shop earnings on Quickbooks! Thank you.
@ClaraCFO
7 ай бұрын
Oh I haven’t encountered this yet. How are earnings coming in?
@halalaffirmations
7 ай бұрын
@@ClaraCFO yeah, TikTok shop is becoming popular. The sales are coming from products you can sell to TikTok users. For me, revenue is NOT much. And, since they are fairly new, they don’t have a good financial reporting system. Basically you can organize the finance section by month. It gives you total revenue, total fees, and a little breakdown. So I assume I have to do a journal entry? 🤷♀️
@Viviko
7 ай бұрын
With regards to paying yourself as the owner. Whst is “reasonable”? Like, if I pay myself as a contractor in a web design business, is like 20% of the contract value “reasonable”? Or do I have to look at it like what would a salaried developer be paid, and use that as a benchmark? Always thought I didn’t have to worry about this until I get into S Corps, which I’m not in yet.
@ClaraCFO
7 ай бұрын
The term "Reasonable compensation" is a term that is used when talking about S-corp owners paying themselves. But that isn't what I am talking about in this video. For you, what would you have to pay another web designer to take over the work you are doing? That's what you want to make sure you have factored into your pricing so that you aren't accidentally underpricing yourself.
@CC-ip3ve
7 ай бұрын
Hi Clara, I'm looking for a specific service that may or may not be unique to you, but I think you and your team may help me. Can I email the address I'm subscribed to, or do you have another email in regard to services?
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