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  #1  
Old 12-29-2002, 01:53 PM
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ksland ksland is offline
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Join Date: Mar 2001
Location: Cape Cod, Ma
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Bookkeeping question

I am working on a new system of bookkeeping. I use Quickbooks pro and have no problem entering in ap and ar. Everything is neat there the problem is on the paper end. I need to set up files for all expenses and make a nice system of keeping receipts. Anyone have a simple system in place that works well? Basically from start to finish...say you buy a trimmer. You walk out of the store what do you do with the receipt (wallet?) until you get back to the office and what do you do then? Do you have excel lists for expenses to hand write in until entered into QB? I am sure I can figure something out by trial and error but would like to emulate a working proven system.
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Old 12-29-2002, 02:38 PM
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bubble boy bubble boy is offline
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Join Date: Jun 2001
Location: north Toronto
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i input everything as it happens that day.....yeah right in my dreams!

shoe box , large envelopes, file folders, etc are what i use. by month.

what i find helps is using credit cards and chq's as opposed to cash. that way a lost receipt can be "found" on your monthly statement. with cash, a lost receipt is gone when you go to input transaction 2 days, 2 weeks, or 2 months later.

if you pay cash i would keep a log with the receipts. you WILL lose some.
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Old 12-29-2002, 02:44 PM
GarPA GarPA is offline
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Join Date: Feb 2002
Location: PA
Posts: 2,578
just as you say...
1. receipt into wallet
2. once a week post all expenses/income into homegrown acctg system..also use CLIP
3. receipt is then filed into one of many folders...if it was a trimmer, it would go into the "equip" folder
3. Like some other guys do, I keep a Daytimer (2 pgs per day)...EVERYthing that happens EVERYday is noted in the diary...lunch costs, fuel, time on each job, a dollar here a dollar there, conversations with clients...and time spent at each job, material used at each job...this is kind of like a backup to your receipts...but you might be surprised how this detail will help capture ALL the little costs and provide a reliable record of your work activity...the diary for me is my most important business tool...bar none....
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Old 12-29-2002, 06:24 PM
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Fine Lines Lawn Fine Lines Lawn is offline
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Join Date: Mar 2001
Location: Indianapolis, IN
Posts: 447
I use QuickBooks Pro, as well, and I love the system. All transactions get posted every day and as far as the paper trail goes; my AP filing system is divided by vendor. All receipts from a certain vendor are filed together no matter what expense account they are posted in. Sometimes the filing gets behind, but I'm trying to do better.
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  #5  
Old 12-30-2002, 10:31 PM
LawnLad LawnLad is offline
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Join Date: Jan 2002
Location: Cleveland, Ohio
Posts: 738
It's not perfect, but here is what we do.

From the crews - any receipts from vendors go with their daily paperwork. Then when the paperwork is separated it gets filed. All receipts coming from the crews are either on credit card or on house charge accounts. So these receipts go into a folder where they a grouped by vendor until their statement arrives at which time they are matched up to verify expenses. This statement goes on our AP list and the bill sits in the "to be paid" folder until it's time to pay it - 1 day to 15 days - or however long. Once the bill is paid the statement with subtending invoices/receipts is then filed in the vendor folder. This is an annual folder that gets cleared out at the end of each season (making next year's folder's this week). When the check is written the item is posted to the account. So if it was equipment purchase versus equipment repair, the expense will be allocated accordingly.

Credit card receipts are matched to the statements and the purchases are itemized by type of purchase and generally follow the above paper trail. The difference being that the credit card bills take longer to process as their are multiple cards with bunches of receipts. But generally used at the same vendors so it's not too difficult to categorize.

Cash receipts go to petty cash folder - just keep an envelope with receipts. When the petty cash is empty, we write a check to cover those receipts in the folder. So we reimburse the petty cash in arrears.

I'm not so good with my own receipts. I carry credit card receipts in my wallet and try to hand them in every couple of weeks. Cash receipts get carried with my money. When the wad of receipts gets too full, I turn them into the petty cash for reimbursement.
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  #6  
Old 12-31-2002, 03:47 PM
Shuter Shuter is offline
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Join Date: Oct 2002
Location: Cape Cod, MA
Posts: 1,174
I keep all paperwork in a briefcase that stays with me all day in the truck. After a job, i write down the work done on an invoice and put it in the briefcase. The checkbook stays in the briefcase. All purchases, except gasoline (credit card), are paid for with a check. Receipt also goes into briefcase. At the end of the day breifcase goes into office and onto desk. All invoicing is then put into computer and all purchases are recorded and receipt goes into a 12 section binder (one section for each month.) At end of month all receipts are accounted for with processed check and all purchases are catagorized. At end of year all receipts, book, and checkbook go to tax attorney for tax season. Sounds like a lot, but all paperwork is kept in one place ( briefcase ) until properly recorded.
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