VO-BB - A VO Family Forum Index VO-BB - A VO Family
COLD CALLS DON'T HAPPEN JUST IN ALASKA!
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

VO Accounting

 
Post new topic   Reply to topic    VO-BB - A VO Family Forum Index -> Chat
View previous topic :: View next topic  
Author Message
speakingofmike
Contributor


Joined: 05 Oct 2021
Posts: 26
Location: Sacramento

PostPosted: Thu Jan 05, 2023 7:44 am    Post subject: VO Accounting Reply with quote

For those who have an accounting system in place (I'm using Freshbooks), wondering: what are some things that would be COGS related? Here are some things that may or may not be COGS, which I'd love your thoughts on so I can record the right categories to these expenses going forward.

    Talent fees
    Swipe fees from credit card payments
    Software
    Script preparation
    Editing and post-production
    Music and sound effects
    Marketing and advertising
    Insurance
    Office expenses
Back to top
View user's profile Send private message Visit poster's website
speakingofmike
Contributor


Joined: 05 Oct 2021
Posts: 26
Location: Sacramento

PostPosted: Thu Jan 05, 2023 7:56 am    Post subject: Reply with quote

Doing a little more homework, "COGS consists of direct costs that are directly related to the production of goods or services, such as the cost of materials or labor. Credit card swipe fees, on the other hand, are indirect expenses that are not directly tied to the production of a specific product or service. Instead, they are a general cost of doing business and are usually recorded as overhead rather than COGS."

... so maybe the Swipe Fees from the above list don't count because it didn't directly relate to the production of the voiceover. Freshbooks classifies these as Bank Fees, which I suppose could be useful for accounting purposes. Nice to know how much I'm losing to these fees, just in case I want to justify the switch to asking for checks more often instead of CC payments which are often faster and more reliable that I'll get paid than paper checks.
Back to top
View user's profile Send private message Visit poster's website
Bruce
Boardmeister


Joined: 06 Jun 2005
Posts: 7784
Location: Portland, OR

PostPosted: Thu Jan 05, 2023 12:10 pm    Post subject: Reply with quote

Most of the items on the list are "cost of doing business" and shouldn't be charged to the client... things like electricity, scotch tape, single malt scotch, etc.

Proper charges are your talent fee, the talent fee of others if you've hired them, and that's about it. I used to produce commercials with music and SFX and would charge a "needle drop" fee for music, and nothing for SFX. Now that everything is sent back and forth digitally there's not much sense in charging for storage or transportation of material. Source Connect is a one time expense much like your computer or monitor and you don't charge for those either. Make it simple. Your client expects that.

B
_________________
VO-BB Member #31 Enlisted June, 2005

I'm not a Zoo, but over the years I've played one on radio/TV. .
Back to top
View user's profile Send private message Send e-mail Visit poster's website
speakingofmike
Contributor


Joined: 05 Oct 2021
Posts: 26
Location: Sacramento

PostPosted: Thu Jan 05, 2023 12:16 pm    Post subject: Reply with quote

Ah, gotcha.

So it sounds then like the cost of goods sold are the raw materials that go into the VO deliverable... so my voice (the talent fee) would be the cost of goods sold. Everything else is overhead because they weren't purchased to produce the one deliverable, but rather my business as a whole. Mo bettah? (And yeah... my invoices are super simple: session and usage fees.)
Back to top
View user's profile Send private message Visit poster's website
todd ellis
A Zillion


Joined: 02 Jan 2007
Posts: 10355
Location: little egypt

PostPosted: Thu Jan 05, 2023 12:24 pm    Post subject: Reply with quote

Take all of the things like electricity, scotch tape, whisky and constant therapy sessions into account when you bid any project. Create a dollar figure
(in your head, not on the invoice) to account for everything you need in order to do business on a monthly/yearly basis.
_________________
"i know philip banks": todd ellis
who's/on/1st?

Back to top
View user's profile Send private message Send e-mail Visit poster's website
Moe Egan
4 Large


Joined: 11 Sep 2006
Posts: 4327
Location: Live Free or Die

PostPosted: Mon Jan 09, 2023 11:58 am    Post subject: Reply with quote

Whiskey, hee hee Sarcastic
_________________
Moe Egan
i want to be the voice in your head.
~~~~~
Back to top
View user's profile Send private message Send e-mail Visit poster's website
todd ellis
A Zillion


Joined: 02 Jan 2007
Posts: 10355
Location: little egypt

PostPosted: Mon Jan 09, 2023 3:22 pm    Post subject: Reply with quote

Prove to me it's not a necessary cost of doing business.


I'll wait.
_________________
"i know philip banks": todd ellis
who's/on/1st?

Back to top
View user's profile Send private message Send e-mail Visit poster's website
Moe Egan
4 Large


Joined: 11 Sep 2006
Posts: 4327
Location: Live Free or Die

PostPosted: Mon Jan 09, 2023 3:31 pm    Post subject: Reply with quote

You do have a point
_________________
Moe Egan
i want to be the voice in your head.
~~~~~
Back to top
View user's profile Send private message Send e-mail Visit poster's website
Display posts from previous:   
Post new topic   Reply to topic    VO-BB - A VO Family Forum Index -> Chat All times are GMT - 7 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Powered by phpBB © 2001, 2005 phpBB Group