Weekly Accounting
Weekly accounting consists of checking our accounting system and sorting any bank transactions into the correct account. Quickbooks is currently connected to our MB&T bank accounts and the PayPal account.
Income
| Book Processing Charges | Active | Revenue from authors/funders for the publication of specific titles |
| Cash Back | Active | Cash back from Paypal |
| Donations | Active | Donations received via our donation page on the website, via Stripe. Legacy donations via Paypal. |
| Grants | Active | Grants funding, including COPIM and OBF |
| Merchandise | Active | Revenue from merchandise, paid by Threadless into Paypal |
| PayPal Sales | Active | Legacy account for donations |
| Reimbursement | Active | Reimbursements from Amazon for (failed) shipments |
| Book Sales | Active | Revenue from Book Sales, via Amazon (direct deposit monthly), Asterism (daily via Stripe), or direct sales |
| Supporting Library Membership Program | Active | Revenue from the library support program |
| Downstream Rights | Active | Revenue from translation rights |
| Subscriptions (Paypal) | Defunct | Legacy subscription system |
Cost of Goods Sold
| Book Printing | Active | Cost of book printing via KDP |
| Distribution | Active | Cost of digital distribution via Thoth |
| Identifiers | Active | Cost of ISBN numbers (bought in bulk via Bowker) or DOI registration (now routed via Thoth) |
| Editorial Work | Active | External copyeditors |
| KDP Fees | Active | Fees paid to KDP |
| Royalties | Active | Annually paid royalties to authors |
| Shipping | Active | Separate shipping cost of books (rare) |
| Typesetting | Active | External typesetters, EPUB generation |
| Translation Rights | Active | Acquiring translation rights |
| Image Rights | Active | Acquiring image rights |
| Indexing | Active | External indexers |
| Platform Hosting | Inactive | Hosting of book files |
Expenses
| Accounting Services | Active | Accountant (Fadi) |
| Advertising & Marketing | Active | Flyers, banners, stickers, totebags, pins, etc. |
| Bank Charges & Fees | Active | MB&T on transfers and payments, international banking fees |
| Business Meals | Active | Meals during conferences, business meetings |
| Contractors | Active | External contractors that are not typesetters, indexers, copyeditors |
| Dues & Subscriptions | Active | Membership fees of all kinds, conference fees |
| Foreign Tax Paid | Active | Foreign taxes |
| Gasoline | Active | Gasoline (mainly for Eileen's car if she is using it on punctum business) |
| Healthcare Insurance | Active | Employee healthcare package |
| Insurance | Active | Liability and Worker's Compensation insurance |
| Investment Expenses | Defunct | |
| OBC Fees | Active | Fees paid to the Open Book Collective, incl. Collective Development Fund |
| Office Supplies & Software | Active | Mainly all our software contracts, incl. Cloud68 (but not Thoth) |
| Cell Phone | Active | Cell phone plan for directors |
| Parking & Tolls | Active | Parking and tolls (mainly for Eileen's car if she is using it on punctum business) |
| Paypal Fees | Active | Fees paid on Paypal transactions |
| Payroll > Health Insurance | Active | Employee copay on health insurance |
| Payroll >Taxes | Active | Payroll taxes |
| Payroll > Wages | Active | Wages |
| Petty Cash | Active | Occasional ATM withdrawals |
| Postage | Active | Mailing anything that's not books, Fedexing, etc. |
| Stripe Fees | Active | Fees paid on Stripe transactions |
| Taxes & Licenses | Active | Miscellaneous taxes |
| Airfare | Active | Airplane tickets |
| Local Transportation | Active | Uber, Amtrak, Lyft, taxis, buses |
| Lodging | Active | Hotels |
| Travel Insurance | Active | Travel insurance (incidental) |
| Inflight Expenses | Active | Anything bought during a flight (WiFi, food/beverages) |
| Travel Meals | Active | Meals while traveling (mainly airport food) |
| Utilities | Active | Internet provider expenses for the punctum office in Eileen's home |
| Research & Development | Active | Courses, continued education, professional literature |
| Small Office Equipment | Active | Computers, printers, screens |
| Wise Charges | Active | Fees paid on Wise transactions |
| Legal & Professional Services | Active |
Lawyers and such |
| Charitable Contributions | Active | Contributions to charity (tax deductible) |
| Copying and Printing | Active | Copying and printing costs (documents etc.) |
| Interest Expense | Inactive | Interest on loans |
| Loan Charges & Fees | Inactive | Charges and fees for loans |
| Meals & Entertainment | Active | Meals with (prospective) authors |
| Office Rent | Active | Space rental for business activities |
| Per Diem | Active | Per diems |
| Refund | Active | Misc. refunds |
| Rent & Lease | Active | Renting/leasing of equipment |
| Repairs & Maintenance | Active | Repair/maintenance costs of equipment |
| Square Fees | Active | Fees paid on Square transactions |
Other Income
|
Dividend Income |
Defunct | Income from dividend on investment account |
| Fully Paid Lending Income | Defunct | Income from lending on investment account |
| Interest Earned | Active | Interest on savings account |
| Tax Refund | Active | Tax refund |
| Unrealized Gains | Defunct |
Unrealized gains on investment account |
| PPP Loan Forgiveness Income | Defunct |
Income from PPP during Covid |
Other Expenses
| Losses Due To Fraud | Inactive | Losses due to fraud |
| Unrealized Losses | Defunct | Unrealized losses on investment account |
Accounts Payable
This includes various accounts for payday loans taken out in the early days (Cashnet, Checkngo, Lending Club, Lendup, Loanme, Rise), as well as:
| Dan Rudmannn | Defunct | Payments made by director on behalf of company |
| Eileen A. Joy | Inactive | Payments made by director on behalf of company |
| Jora Credit | Defunct | Line of credit |
| Paypal Working Capital | Defunct | Line of credit |
| PPP Loan | Defunct | Federal funding during Covid |
| Sakr Accounting | Defunct | Used once for accrued payments |
| Vincent van Gerven Oei | Inactive | Payments made by director on behalf of company |
Other Current Liabilities
Includes mainly tax liabilities that are automated through Quickbooks, as well as:
| Prepaid Grants | Active | Deferred revenue from grants (multimonth) |
| Prepaid Library Subscriptions | Active | Deferred revenue from library subscriptions (multiyear) |
Equity
| Owner's Investment | Inactive | The equity that Eileen put into the initial sole proprietorship. This is currently being paid back on a monthly basis. As there were no traces in the books of payments directly out of her retirement account, it must be assumed these were directly used for pay & personal expenses (and thus are gathered under the account below) |
| Owner's Pay & Personal Expenses | Inactive | The personal expenses and pay of Eileen before 2021. |
| Partner Distributions – Vincent van Gerven Oei | Inactive | Payments made to Vincent before 2021. |