Posted by mirna_CA on 12/24/05 12:42pm
Msg #84531

recording in sequential journal

I am doing a signing today for the first time, I am wondering about the sequential journal and how do I record fees. I know that I am suppose to record each individual notarized signature, but since the amount I am getting paid is one whole what fees do I put in the sequential journal. Any feedback will be appreciated.
Thank you

Reply by Stamper_WI on 12/24/05 1:36pm
Msg #84536

I would suggest you not record the fees the ss is paying you. Each state has a limit as to what a notary can charge for witnessing signitures. What the SS pays you is for the handling of the documents, travel printing etc.
The journal is your record of signitures and the State may be interested in seeing your records at some point. They might think you are overcharging per state law when that is not actually the case.
Personally, I don't charge for the witnessing. WI maximum is $.50 (I think). I charge for the above activities which when all is said and done, covers my expenses plus an income. I carry E&O, Bond and have the cost of doing business

Reply by Brad_Ca on 12/24/05 2:11pm
Msg #84542

Only enter the notary fees in the journal. In California you are allowed $10.00 per notarization. So, if you do three notarizations, just enter $30.00 in the journal.

Reply by B__CA on 12/24/05 5:00pm
Msg #84552

Let's say you are only getting $50.00 for this signing, heaven forbid. If you have 10 notarization, it would equal out to $5.00 for each one. It is either $10.00 or broken down by the number of notarization for the signing fee.

Reply by RayWyatt_Cal on 12/26/05 3:59pm
Msg #84607

Funny thing is my journals' example shows a signing with 6 signatures and the fee is $125.00.
I enter $10.00 for signature and tell quickbooks what I was really paid~~~~

Better than that is that the example was paid 26 days later!