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Mowerboy04
12-20-2005, 01:22 PM
i'm getting my LLC some times within the next month. and i am trying to expand my business. but the problem i'm haveing is keeping track of money comming in and going out. any one give me any tips
thanks
alex

sgallaher
12-20-2005, 01:30 PM
I use Quick Books 2005. It is the best way to track monies. You can make invoices, recieve payments, keep track of bills, write checks and print them out. I really like this program and it works great. I also use it for payroll & taxes.

daveintoledo
12-21-2005, 10:34 AM
i just dont inderstand how people think... youve been in business for 5 years and dont keep track of money...... no accounting or invoicing prorams......

honestly, then you havent been in business yet

quickbooks is the best and bery expensive, my invoices and estimates form office max is pretty good, only 30 bucks i think.....

Team Gopher
12-21-2005, 01:19 PM
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Hi Mowerboy04,

Please consider trying our software.

i just dont inderstand how people think... youve been in business for 5 years and dont keep track of money...... no accounting or invoicing prorams......

Don't we all do this in a way though? Getting a business started is just so difficult that so often we focus on the immediate issues at hand. How to find work. It seems that we don't look for ways to streamline our business until we learn to swim a bit, so to speak.

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Trinity Lawn Care, LLC
12-21-2005, 02:10 PM
Mowerboy04,

I do not currently have the Gopher software, but I can say this. I have ran through the demo and checked out the features and it looks fantastic. I am probably going to go with it myself, but I am waiting for the first of the year to purchase it. My wife who helps with the administrative end of the business looked at the features as well, and is really looking forward to using it. She believes that it will make her life a whole heck of a lot easier.

In addition, I highly recommend that you do something to track your #'s. If you do not know your expenses and you do not know your cash flow it is only a matter of time before your biz will start to sink.

walker-talker
12-22-2005, 09:29 AM
[QUOTE=daveintoledo]youve been in business for 5 years and dont keep track of money./QUOTE]He's only 17, that might have something to do with it. There are much older people that been in business for much longer that probably don't know their number well. Get you some simple books to read.

I had started a thread and someone suggested this book http://www.amazon.com/gp/product/1570713960/qid=1135102781/sr=2-1/ref=pd_bbs_b_2_1/002-6861724-6432816?s=books&v=glance&n=283155

I read the reviews and they were mostly positive. I like the idea of a step by step book which gets you involved like this one sounds. Go through some books on the subject from Amazon.com and read the reviews...most reviews are from ordinary people like ourselves. Go to your library also, that should keep you busy as well. The E-Myth Revisted is another one that I am reading now and highly recommended by most everyone that has read it. I don't think I have heard of one negative review of this book.

GreenUtah
12-22-2005, 06:00 PM
Go talk to a local accountant, trade off doing his lawn for him or her advising and keeping your books and filings in order. Unless your goal in life is to become a CPA, you'll never know what he/she already does and that information will be critical to your future success. We don't have to do everything ourselves, use experts when the work calls for an expert. That's hopefully what your customers are doing when they call you.

topsites
12-23-2005, 12:20 PM
This is how I do it:

ALL money collected from customers goes IN the bank! Way I keep customer money separate from my own, is I place customer money sideways (and folded) to my own (which is straight and unfolded) in my wallet. At the end of the day, ALL the customer money goes in a drawer. Then, once/week or so, I make a bank deposit into my small business dba account.

ALL business expenses go on the credit card. Yes, all of them. And yes, it is a Business credit card, not a personal one. And no, no personal expenses, not even gas for the car, certainly not groceries.

One third (1/3) of each deposit goes towards a payment on the credit card. No more, no less, if I deposited 600 dollars, then I make a 200 dollar credit card payment, yes, per deposit. If this does not pay off the credit card, then I am doing something wrong (it doesn't have to pay the balance in full everytime, but over time it has to pay it off).

Every once in a bit a 20 might slip this way or that but it's bad news, I don't like playing with the money and as a rule, I don't do it.

Once a month, I write myself a paycheck, it's always the same amount and that goes in my personal account.

Thus it is, without quickbooks or fancy software, I have devised a simple system that works for me. Little mistakes do happen, but it's not fly-by-the-seat-of-your-pants, I can tell it works because there is almost always more money in the bank at the end of each month than the month before.

My money goes this way, their money goes that way :)

daveintoledo
12-23-2005, 12:30 PM
[QUOTE=walker-talker][QUOTE=daveintoledo]youve been in business for 5 years and dont keep track of money./QUOTE]He's only 17, that might have something to do with it. There are much older people that been in business for much longer that probably don't know their number well. Get you some simple books to read.

just thought the inexpensive program for now, will enable him to print and track invoices, estimates and print basic reports on expenses and income , there are many pre set reports in "my invoics and estimates", broken down many ways, by customers, by services, ....but it is somewhat limiting, it gives you the paper work to go to an accountant with at the end of the year