Bookkeeping and Accounting for Tour Guides

As a tour guide, you can claim several types of expenses for tax deductions. These might include:

• Travel expenses for the tours you conduct, such as plane tickets, train fare, mileage for personal vehicles, food and accommodations.
• Any fees or costs associated with education and training related to the tour industry.
• Purchases of necessary equipment and tools for your job, like electronic devices, professional attire, as well as maintenance and repair costs.
• Marketing and advertising costs to promote your tours.
• Fees for necessary permits or licenses.

However, it's essential to note that tax regulations might vary depending on your location. Therefore, it's highly recommended to consult with a tax or accounting professional to ensure you're claiming all eligible deductions and compliance with applicable laws.

Managing income from diverse sources can be complex, but it is crucial to maintaining accurate financial records. Here are a few steps you can take:

• Separate your Income: Keep a distinct record for individual payments, package deals, or tips to prevent any confusion at the end of the fiscal year.
• Use Accounting Software: Consider using accounting software that is designed to track income from different sources, to streamline your bookkeeping process.
• Hire a Professional: If you're finding it difficult or time-consuming to manage your income, you may want to consider hiring a bookkeeper. A professional can take care of tracking and organizing your income, allowing you to focus more on your business.

Bench Accounting is well-equipped to handle the bookkeeping needs for a variety of professions and industries. Through our professional services, we can manage income from different sources and ensure your books are always up to date.

The best way to handle bookkeeping for travel and accommodation expenses while touring is to stay organized and keep track of all transactions - no matter how small. Carry a separate envelop or bag to store all business-related receipts. Also, make use of modern bookkeeping software that allows you to enter expenses on-the-go. This software often comes with features to categorize expenses, makes it easy to distinguish personal expenses from business ones, and saves a lot of time when it comes to tax preparation. Remember to record meals, lodging, mileage, airfare, and all other expenses linked to your business activities while touring. This detailed record keeping will ensure accuracy when you return and begin the process of reconciling the tour's expenses. You could also consider hiring a professional bookkeeper to help with keeping your records up-to-date and accurate.

Nope! All bookkeeping is completed in-house.

Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.

We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.