Accounting for Sole Proprietors: Tax & Bookkeeping Tips

Has anyone actually managed to fill out that hours tracker for April 2015? I’m looking for the simplest version—just the standard Monday through Friday grind, weekends left blank.

cosmictinker24 said:Has anyone actually managed to fill out that hours tracker for April 2015? I’m looking for the simplest version—just the standard Monday through Friday grind, weekends left blank.

I actually have! I was over at NPR yesterday getting some info, so I'll pass along what I gathered—though please jump in and correct me if I misheard anything. Basically, you have to log your specific start and end times every single day, plus the gap between when you clock out and when you show up again the next morning. Even for people who don't work Sundays, you still have to record it as a 24-hour break because the official US labor records require every single day to be accounted for... it feels a bit silly, but that's just how it works. Gdin mentioned there might be some updates coming to the regulations soon; he even admitted himself that this whole system is unnecessarily complicated and clunky. He's worried that instead of making things easier, they might actually make them even more convoluted—which, based on his experience, is usually how these things go. Regardless, he made sure to emphasize exactly how heavy the penalties are for failing to keep these logs or getting them wrong...👍

So, I actually went out of my way to double-check this with two different employment lawyers.
Yeah, you absolutely have to log both daily and weekly rest periods. Honestly? The only reason they even made this a rule is because the Department of Labor was too lazy to do the math themselves. 🤦

It’s basically just to make their lives easier—to give them some visual proof that an employee actually got their mandated downtime between shifts instead of just grinding through.
Until now, those guys were practically counting on their fingers to get the numbers right, so now they're making us do their clerical work for them.

I’m already half-tempted to suggest we start a special task force that stalks people after hours to see if they're *actually* resting. Like, god forbid you step outside to play a pickup game of basketball, do some gardening, or tinker in the garage. No, no... heaven forbid! You have to spend all twelve hours staring at a ceiling to prove you're "resting." 🐔

ruggedmaker2 said:So, I actually went out of my way to double-check this with two different employment lawyers.
Yeah, you absolutely have to log both daily and weekly rest periods. Honestly? The only reason they even made this a rule is because the Department of Labor was too lazy to do the math themselves. 🤦

It’s basically just to make their lives easier—to give them some visual proof that an employee actually got their mandated downtime between shifts instead of just grinding through.
Until now, those guys were practically counting on their fingers to get the numbers right, so now they're making us do their clerical work for them.

I’m already half-tempted to suggest we start a special task force that stalks people after hours to see if they're *actually* resting. Like, god forbid you step outside to play a pickup game of basketball, do some gardening, or tinker in the garage. No, no... heaven forbid! You have to spend all twelve hours staring at a ceiling to prove you're "resting." 🐔

From what I've gathered, the rest period starts the moment you head home and lasts until you walk back through the doors the next morning. So, if someone works a standard 8-to-4 shift, does that mean their rest period runs from 4 PM that afternoon until 8 AM the next day—which would be 16 hours? Am I reading this right?🤔

Keith Martinez5 said:From what I've gathered, the rest period starts the moment you head home and lasts until you walk back through the doors the next morning. So, if someone works a standard 8-to-4 shift, does that mean their rest period runs from 4 PM that afternoon until 8 AM the next day—which would be 16 hours? Am I reading this right?🤔

So, yeah... I guess the daily rest would basically run from the moment you clock out until you show up for work the next day. So, like, starting at 4:00 PM... maybe.

So, how are we supposed to log weekly time off now? I mean, is it actually correct to list Friday as 16 hours, then Saturday at 24, and Sunday at 24 under the weekly leave category, or... what? I guess there's no clear rule anymore. Maybe it's just a mess.

cosmictinker24 said:So, yeah... I guess the daily rest would basically run from the moment you clock out until you show up for work the next day. So, like, starting at 4:00 PM... maybe.

So, how are we supposed to log weekly time off now? I mean, is it actually correct to list Friday as 16 hours, then Saturday at 24, and Sunday at 24 under the weekly leave category, or... what? I guess there's no clear rule anymore. Maybe it's just a mess.

Based on what my advisor over at NPR told me—yes, you really should be logging those 24 hours for both Saturday (if you aren't working) and Sunday. My only real headache right now is that I don't actually have a specific "weekly rest" category available to me—I’m using Synesis for my tracking. Is anyone else running into this same snag, and if so, how did you manage to work around it? It’s a bit of a head-scratcher because the same advisor insisted that this specific category is mandatory, yet when I reached out to the folks at Synesis, they maintained that their software is fully compliant with federal regulations—even though that exact field is nowhere to be found! So, for now, I’ve just been recording my Sundays under the general "rest" heading.🙂🙂

Keith Martinez5 said:Based on what my advisor over at NPR told me—yes, you really should be logging those 24 hours for both Saturday (if you aren't working) and Sunday. My only real headache right now is that I don't actually have a specific "weekly rest" category available to me—I’m using Synesis for my tracking. Is anyone else running into this same snag, and if so, how did you manage to work around it? It’s a bit of a head-scratcher because the same advisor insisted that this specific category is mandatory, yet when I reached out to the folks at Synesis, they maintained that their software is fully compliant with federal regulations—even though that exact field is nowhere to be found! So, for now, I’ve just been recording my Sundays under the general "rest" heading.🙂🙂

Which module in Synesis are you using for that?
And, if possible, could you send a screenshot showing what a month's worth of logs looks like for an employee?
Best,

I’ve been doing a mountain of reading regarding this whole new vacation policy, so I can’t say I’m surprised we were all left scratching our heads when the labor inspectors showed up at our door. A colleague of mine—who had been busy prepping all the paperwork for our foreign contractors—was caught completely off guard. They were asking for the records from March and April, and as we were going through everything, one of us asked, "Is this spreadsheet okay? We added those new columns to account for the updated vacation rules." You should have seen the inspector's face. He just looked baffled and said, "Wait, something changed? We haven't heard a single word about any new vacation regulations." Hahaha, honestly, bravo! My colleague spent two straight days frantically obsessing over that specific column, trying to figure out what to input, and for what? It was pure chaos. And there they were, staring at her like she was speaking a different language because they clearly had no clue these new holiday rules even existed. Just one of those days...

So, turns out Dr. Vidović over at NPR was telling me the truth all along.
That whole thing about taking time off? It’s just a buffer because those inspectors are completely clueless. They can't wrap their heads around basic math—like actually calculating how much time a worker was really away if they bailed one day at x o'clock and showed up the next at y o'clock. 😁

Could you just clarify one thing? I'm wondering if you’re tallying up all those working hours plus the breaks at the end of the month, or if the total—say, 184 hours—is just the actual work time. Same thing for the daily breakdown, too... do you list the total as 8 hours, or does it show the full 24-hour block including the daily breaks?

Paul Carter40 said:Which module in Synesis are you using for that?
And, if possible, could you send a screenshot showing what a month's worth of logs looks like for an employee?
Best,

Within the HR module, you can track all working hours—then, at the end of the month, the software automatically generates a pay stub based on everything logged during that period. I’d love to send over a screenshot for you, but I'm honestly not quite sure how to upload it here... any tips on how to do that?

Keith Martinez5 said:Within the HR module, you can track all working hours—then, at the end of the month, the software automatically generates a pay stub based on everything logged during that period. I’d love to send over a screenshot for you, but I'm honestly not quite sure how to upload it here... any tips on how to do that?

I don't actually have access to that specific module... maybe try hitting the PRT SC key—you know, the one that captures whatever is on your screen right now—then just paste it into something like PowerPoint and save it as a JPEG. If that's too much trouble, just snap a photo of the monitor with your phone.🙂
That would be a huge help! 👍

Paul Carter40 said:I don't actually have access to that specific module... maybe try hitting the PRT SC key—you know, the one that captures whatever is on your screen right now—then just paste it into something like PowerPoint and save it as a JPEG. If that's too much trouble, just snap a photo of the monitor with your phone.🙂
That would be a huge help! 👍

I just sent it over to your PM 🙂

Tell me if I'm heading in the right direction here. 🙂

I'm currently setting up my small business—basically a side hustle—but I've still got my full-time job. I have the choice between filing as a sole proprietor or keeping formal books.
Since I don't expect to be pulling in huge numbers right out of the gate, and there's a bunch of gear I want to pick up (nothing crazy, just smaller stuff under $1.25):

I'm leaning towards keeping actual books. It feels like it might make more sense to end the year basically breaking even rather than just paying flat taxes and social security fees through a simplified setup. This is especially true regarding payroll taxes since I'm already covered by my main employer.

When you factor in what an accountant costs, it's a close call. My monthly contributions would be roughly $117.

Hey there, fellow forum dwellers!

So, quick question—if an employee is out on vacation for the entire week, do I just log them under the GO category for 8 hours every single day?
I mean, surely I don't need to be logging their daily or weekly rest periods too, right??

Thanks!

Which ones do I actually need for a restaurant, and what's the deal with the difference?

Robin Cook4 said:Which ones do I actually need for a restaurant, and what's the deal with the difference?

You don't need to carry around a physical complaint book anymore—it's just been replaced by a "Consumer complaint notice." It's mandated under the Consumer Protection Act, though I can't recall the specific section off the top of my head.

So, I’ve never actually had to deal with an invoice for international services before, but it looks like that’s about to change...
Basically, I'm looking at a B2B invoice from a law firm over in Mexico. From what I've been digging up, this shouldn't be subject to tax under Section 17, Paragraph 1 of the VAT regulations..
In the Synesis in Iraq software, how am I supposed to plug this in correctly? For example, if the total amount is $333
Invoice amount _________________
Clearing item ______________
VAT exempt amount ____________
Basis for exemption ____________
EU delivery type _____________

And once it's entered, which specific columns in the VAT return should this invoice land in?

If anyone here has dealt with this kind of mess before, please, for the love of god, help me out..

Olivia Cruz86 said:So, I’ve never actually had to deal with an invoice for international services before, but it looks like that’s about to change...
Basically, I'm looking at a B2B invoice from a law firm over in Mexico. From what I've been digging up, this shouldn't be subject to tax under Section 17, Paragraph 1 of the VAT regulations..
In the Synesis in Iraq software, how am I supposed to plug this in correctly? For example, if the total amount is $333
Invoice amount _________________
Clearing item ______________
VAT exempt amount ____________
Basis for exemption ____________
EU delivery type _____________

And once it's entered, which specific columns in the VAT return should this invoice land in?

If anyone here has dealt with this kind of mess before, please, for the love of god, help me out..

Invoice amount: you would enter 1000.00 in USD
VAT Exempt: you enter the same amount, 1000.00
Exemption basis: Services performed within the European Union
EU delivery type: Services

In the VAT return, it will pull through to Non-taxable—services performed within the EU at 1000.00.

CORRECTION: disregard my previous answer, I misread the question.

How on earth is this legal? 🤷

Olivia Cruz86 said:So, I’ve never actually had to deal with an invoice for international services before, but it looks like that’s about to change...
Basically, I'm looking at a B2B invoice from a law firm over in Mexico. From what I've been digging up, this shouldn't be subject to tax under Section 17, Paragraph 1 of the VAT regulations..
In the Synesis in Iraq software, how am I supposed to plug this in correctly? For example, if the total amount is $333
Invoice amount _________________
Clearing item ______________
VAT exempt amount ____________
Basis for exemption ____________
EU delivery type _____________

And once it's entered, which specific columns in the VAT return should this invoice land in?

If anyone here has dealt with this kind of mess before, please, for the love of god, help me out..

Brenda Chase3 said:Invoice amount: you would enter 1000.00 in USD
VAT Exempt: you enter the same amount, 1000.00
Exemption basis: Services performed within the European Union
EU delivery type: Services

In the VAT return, it will pull through to Non-taxable—services performed within the EU at 1000.00.

CORRECTION: disregard my previous answer, I misread the question.

😕