Not sure what to Debit

[kaleob]

I am running a internet marketing business selling affiliate products for commission. My question is, I joined a site that teaches me how to do affiliate marketing, its training, how can I account for this.

Your help is greatly appreciated.

[vangogh]

I think it depends somewhat on what kind of business entity you've formed and how you fill out your taxes. I usually list something like training under fees and commissions on a Schedule C. I file as a sole proprietor.

[Harold Mansfield]

I joined a site that teaches me how to do affiliate marketing.

It wouldn't happen to be Wealthy Affiliate, would it?

[vangogh]

In that case maybe it gets filed under spam. :)

[kaleob]

Thanks for the information.
I think it depends somewhat on what kind of business entity you've formed and how you fill out your taxes. I usually list something like training under fees and commissions on a Schedule C. I file as a sole proprietor.

[kaleob]

Explain why you made that comment, would be helpful:D

[kaleob]

It is, do you have something else to recommend.:D
It wouldn't happen to be Wealthy Affiliate, would it?

[kaleob]

have you been spammed or had a bad experience with them.:D
In that case maybe it gets filed under spam. :)

[jamesray50]

When you purchase something you debit an expense and credit cash. In this case you could use an account called "dues and subscriptions" or " training". Your cash account would be the bank or credit card account you used for the purchase.

When you receive income from sales you credit an income account named "commissions" and debit the bank account the money went into.

Hope this helps. Good luck!

[vangogh]

have you been spammed or had a bad experience with them.

My comment was meant more as a joke than anything else. I don't specifically know the wealthy affiliate site. However, there are quite a few industries, affiliate marketing among them, who basically teach people how to spam the web to make a quick a buck. A significant amount of my time working on this site is banning many of the customers of these sites who think it's ok to create useless content here so they can drop an affiliate link.

Affiliate marketing isn't automatically a bad thing. Unfortunately it's often taught in a way that leads to people being worse citizens of the web so many people when they hear affiliate anything think spam.