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Forms for contract work 1

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ctopher

ctopher

Mechanical
Jan 9, 2003
17,454
I started back to work this week as a contractor for engineering work (tool design).
Contract work is new to me. Does anyone have invoice forms and time sheets you are willing to share? The company is a start-up and does not have docs/processes in place yet.
I'm looking for some simple forms (prefer Excel that tracks hours/days/etc) that others have used for this type of work that has worked for you.

Chris
SolidWorks 09, CATIA V5
ctopher's home
SolidWorks Legion
 
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A mundane but crucial aspect of operating a business is bookkeeping. Quickbooks is inexpensive a has templates for most of the forms you will need.
 
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As stated above Quickbooks is inexpensive (they also have a free version). I have used a web based time keeping system in the past as well.


Free to use, they also have an inexpensive PC based application.

Mike
 
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How did you go about forming your own contract company? How did you get the job?

I have worked thru many contract companies (leeches). I would like to cut them out of the picture (eleiminate the middle man).
Advice? Suggestions?

The glass is operating at 50% capacity.
 
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Chris, are you contracting direct to them or through a Job shop? A job shop or similar will have these forms, so I'm assuming you're contracting direct.

I don't have time right now but I'll see if I can find my timesheet from when I worked for *erotech. However, if you're direct this may not have all the info you need.

I'd look at There has been some hubub lately about the IRS clamping down on long term 'contractors', I think I posted about it a while back and someone else did too but I can't recall which forum. Make sure you've spoken to an accountant and possibly a lawyer.

KENAT,

Have you reminded yourself of faq731-376 recently, or taken a look at posting policies: What is Engineering anyway: faq1088-1484
 
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I think the last "direct contractor" we had here just used to keep track of his hours. He'd then put a very simple invoice together each week saying how many hours he'd worked, multiplied by the agreed rate and the total amount he was billing for.

His 'supervisor' would then sign that off and forward it to accounts payable or whoever to actually pay.

While some people claim there's not much to it, it does seem there's a lot to consider when doing what it sounds like you're doing. I think ther've been posts about similar before over in that forum I linked so take a good look and maybe ask some questions over there.

Good luck Chris, glad you found something and I don't mean to be a downer, but I don't want you to get caught out come tax time or if there's a problem with the company not paying you on time etc.

KENAT,

Have you reminded yourself of faq731-376 recently, or taken a look at posting policies: What is Engineering anyway: faq1088-1484
 
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I downloaded a simple Excel invoice per your suggestion.
My plan for now is to create a separate bank account and save above my tax % rate for tax time so there are no surprises. I plan on seeing my tax guy to make sure I don't miss anything.
I heard I may have to carry some type of insurance in case I'm hurt at the workplace? Don't know...

Chris
SolidWorks 09, CATIA V5
ctopher's home
SolidWorks Legion
 
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KENAT has great advise. I would only add "Document Everything". I have been contracting 20yrs now and I enjoy it.

Mike
 
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forum784, sorry I pasted it wrong before though I think it worked.

thread1088-244883 was one of the threads I was thinking of.

thread730-246425 was the other that sprang to mind.

Neither of them in forum784.

KENAT,

Have you reminded yourself of faq731-376 recently, or taken a look at posting policies: What is Engineering anyway: faq1088-1484
 
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Chris, glad to see you are using a separate bank account and saving the tax. I failed to do so and had to pay over a couple of years with added interest. The IRS has forms to send in your estimated tax quarterly as well. In fact next year you will get them in the mail, and be expected to send the money. I was lucky, I had insurance through my wife.

Peter Stockhausen
Senior Design Analyst (Checker)
Infotech Aerospace Services
 
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thread784-252113 for example.

KENAT,

Have you reminded yourself of faq731-376 recently, or taken a look at posting policies: What is Engineering anyway: faq1088-1484
 
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