Receipts
Found in: About Business, Accounting
Rebecca S., Australia
I use MYOB. It’s really easy to set up and has all the tax codes I need. You can get reports easily. I send out my invoices that way, so receipts are easy. Just makes it easy to focus on teaching.
Julia S., Kansas
I only do it on request (a rare occurrence).
Since I email reminders to my students, if anyone needs a receipt, I simply add “PAID” and the check number and date, re-save the PDF, and email it back to them.
If they want me to provide hard copy on the spot, I just hand-write “PAID” on the invoice, date it, note the check number, and hand it to them right there!
Erini T., Australia
I’m only new at this, but I use a receipt book & give receipts at end of term. I was needing to do this for the child-minding I was doing, so am keeping it up for my SM students. Plus, I always felt much better when I received receipts from my son’s music teacher – it allowed me to be assured I was up to date with payments & that payments had been received (direct debit banking).
Anna J., Canada
I provide my students with one receipt at the end of each calendar year in advance of tax season. Here in Ontario their tuition costs can be applied to certain arts tax credits which they can apply for, so I provide this for everyone as a matter of course.
Debbie T., Canada
For those of us living in Canada we can deduct our children’s music lessons from our income taxes ($500). I provide a tax receipt to my students with the following info (from the CRA website):
• organization’s name and address;
• name of the eligible program;
• amount received, date received, amount that is eligible for the CATC;
• full name of the payer;
• full name of the child, and the child’s year of birth; and
• authorized signature.
Because I use Office I just went onto the website and downloaded a template that I’m now using. Simple really.