I find that an Excel spreadsheet can keep track of my schedule, the fee, bonus (if any), unreimbursed expenses, reimbursements, payment date, payment amount, dates performed location, company, mileage, etc. You can add a page to the workbook to keep track of other expenses such as office supplies and equipment. You can add a page to keep track of the companies you are signed p with. You can add a page to keep track of what companies you have found shop what clients.
I keep a workbook by year and just print out a copy when I've done my taxes to drop into the file folder with a copy of my tax return.
> I find that an Excel spreadsheet can keep track of
> my schedule, the fee, bonus (if any), unreimbursed
> expenses, reimbursements, payment date, payment
> amount, dates performed location, company,
> mileage, etc. You can add a page to the workbook
> to keep track of other expenses such as office
> supplies and equipment. You can add a page to
> keep track of the companies you are signed p with.
> You can add a page to keep track of what
> companies you have found shop what clients.
> I keep a workbook by year and just print out a
> copy when I've done my taxes to drop into the file
> folder with a copy of my tax return.
What is a unreimbursed expense? Would that be if I paid $2.00 on a shop for a required purchase and I was only going to be reimbursed up to $1.00 the other $1.00 is a unreimbursed expense? Do those end up being tax write offs? Or dinner reimbursed up to $65 I had wings also and those were not reimbursable? Food out when not on a shop for a food place during a route?
There are several situations I consider to be an unreimbursed expense. First I do some "Fee only" shops where there is a required purchase. Compensation for that purchase is included in the "Fee" and so from the company's perspective the entire fee is taxable income to me. I still need to make a purchase and provide a receipt. What I spend is an 'unreimbursed expense'.
Second is a situation where, for example, on a restaurant shop I am required to tip 15% or 18% but the company will not reimburse me for the tip even if I am still under the total reimbursement amount. If I don't show the appropriate amount of tip, my shop will be rejected. The unreimbursed tip is an unreimbursed expense.
A shop oil change for my vehicle runs $39 because I use more quarts of oil than the standard vehicle. I cannot get an oil change for less than that but I am allowed to use that vehicle for an oil change. I am reimbursed $35 and paid a $5 fee. My unreimbursed is the $4 difference between $39 cost and $35 reimbursement.
I go on a shop in good faith, make my required purchase, submit my report and my shop is rejected through no fault of my own. (Was I supposed to walk out of that restaurant and flake on the shop because I could see no manager present? I was not allowed to ask for the manager.) (Was I supposed to know that the instructions you gave me with my shop were last year's, not the current ones? Since I never did the shop before, how was I supposed to know and question you about them?) There is nothing I can do about the unpaid fee since the company feels I did not earn it, but the shop will stay on my shop sheet with a note that it was rejected and I will claim the mileage as well as an 'unreimbursed expense' for every penny spent on site.
There are shops that require a receipt and reimburse $1, but once you get there there is NOTHING AT ALL that can be bought for under $5.24 including tax. I buy something useful for $10, I have a reimbursement and the DIFFERENCE between the lowest cost item I could have purchased ($5.24 including tax) and the reimbursement ($1) goes in the 'unreimbursed expenses' column even though I spent $10 because I COULD have met the requirements for $5.24. Whenever you do this kind of thing make sure you make notes of what you did and why.
We did a lunch shop that reimbursed $20. The on line menu had no prices. Our actual expense ordering the cheapest of the category for all the purchase requirements gave us a bill of $66+. $20 was reimbursed, $46+ went to unreimbursed and I never shopped for THAT company again. Once seated with a priced menu in hand there are not just a whole lot of options for you. Live and learn--if there are no prices on line, call days ahead to inquire about pricing while you still have time to cancel and run.
Edited 2 time(s). Last edit at 02/21/2012 03:32AM by Flash.