I was wondering if someone could give me a little bit of advice. The reason I am a writer and not an accountant is that words make sense to me but numbers don't.
Luckily, they do make sense to my lovely husband and with the help of a great little accounting package which is free called QuickFile he is happy to keep track of all my magazine sales.
The question I want to ask is a simple one and I would be grateful if someone could enlighten me, please. Here it is:
If a magazine accepts a story from you, but they don't pay until publication, do you enter that sale in your accounts as the day the story was accepted or the day you receive payment? This is most relevant, when the story is accepted in one tax year but payment isn't made until the next.
It would be interesting to know how other writers manage their accounts and if there are any other accounting packages that they would recommend to others.
