Best report to show money I "took home"

[katemartinvo]

Hello!

I am gearing up for taxes and checking my savings. My "lifetime earnings" report is no longer helpful it seems for finding my actual "take-home" money. I am thinking the Transaction History report is best. I then put the timeline to "Jan 1st, 2019- today's date" and choose to see withdraws only.

Can anyone confirm this is a solid option, please? 

Numbers make my brain foggy.

Thanks!

Kate

[florydev]

Earnings by Client is the report you want I believe, not Lifetime Billings report you are refering to.  You can put in an date range and it shows your billed and then your fees.

[researchediting]

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Kate M wrote:

Hello!

I am gearing up for taxes and checking my savings. My "lifetime earnings" report is no longer helpful it seems for finding my actual "take-home" money. I am thinking the Transaction History report is best. I then put the timeline to "Jan 1st, 2019- today's date" and choose to see withdraws only.

Can anyone confirm this is a solid option, please? 

Numbers make my brain foggy.

Thanks!

Kate

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If you want net/take-home earnings and you always withdraw all remaining funds after deduction of fees, then yes, that would do.

I prefer to download all transactions for a tax or other reporting year, then slice and dice them in a spreadsheet. Not advisable, I suppose, if brain-fog-inducing.

When it comes to taxes, accountants are our friends.

[wendy_writes]

You / your accountant will want two total figures.

1. Full $ earned - including fees.  In other words, the total amount the client paid.

2. The total amount of your actual earnings - i.e., money transferred by U to your bank.

The difference (U.'s %)  is your cost of doing business and is tax deductible.