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View Poll Results: Catgories or no Catagories
Catgories 4 66.67%
no Catagories 0 0%
Mix of both 1 16.67%
Other 1 16.67%
Multiple Choice Poll. Voters: 6. You may not vote on this poll

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  #1  
Old 02-27-2013, 12:25 AM
Dave does lawns Dave does lawns is offline
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Join Date: Apr 2010
Posts: 260
Profit & Loss Statement Structure

I am curious what others have found to be a better structure.

Two Ideas:
  1. Fuel
    • Truck
    • Machines

OR
  • Fuel Truck
  • Fuel Machines
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Dave Does Lawns Ltd.
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  #2  
Old 02-27-2013, 10:11 AM
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Efficiency Efficiency is offline
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Location: zone 6
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First one. Then do sub categories for trucks by number.
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  #3  
Old 02-27-2013, 01:25 PM
dllawson dllawson is offline
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I like to keep them separate.

Equipment fuel is totally a direct expense. You do not have an equipment "expense" if you are not using it to create "income."

Truck fuel can be more of an indirect expense, especially for owner operators. There are a lot of things you can do with your truck that may not directly create "income," therefore some of your truck expense is the "cost of doing business."

Example: You could spend $400 in fuel to go to a trade show in Orlando, and happen to take your children to Disney while you are there. That $400 expense has nothing to do with how profitable your actual jobs are.
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  #4  
Old 02-27-2013, 07:51 PM
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bohiaa bohiaa is offline
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Location: Bellville Texas, near Houston
Posts: 5,017
WHAT??????

PLEASE TELL ME, you dont run the two togather....
you MUST KEEP SEPERATE. EQUIPMENT FUEL is 100%
Auto is only like 53 per mile.
and then there is AG fuel
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  #5  
Old 02-27-2013, 11:52 PM
Dave does lawns Dave does lawns is offline
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Quote:
Originally Posted by bohiaa View Post
WHAT??????

PLEASE TELL ME, you dont run the two togather....
you MUST KEEP SEPERATE. EQUIPMENT FUEL is 100%
Auto is only like 53 per mile.
and then there is AG fuel
I am brand spanking new to this bookkeeping stuff and never done it myself before.

I also have a work truck and many personal trucks. I only use work truck for work and seldom use others for work. I hope the work truck is a total cost ( ian ) if it matters.
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  #6  
Old 03-05-2013, 11:50 PM
underESTIMATED underESTIMATED is online now
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Join Date: May 2010
Location: Akron, OH
Posts: 117
Quote:
Originally Posted by dllawson View Post
I like to keep them separate.

Equipment fuel is totally a direct expense. You do not have an equipment "expense" if you are not using it to create "income."

Truck fuel can be more of an indirect expense, especially for owner operators. There are a lot of things you can do with your truck that may not directly create "income," therefore some of your truck expense is the "cost of doing business."

Example: You could spend $400 in fuel to go to a trade show in Orlando, and happen to take your children to Disney while you are there. That $400 expense has nothing to do with how profitable your actual jobs are.
Quote:
Originally Posted by bohiaa View Post
WHAT??????

PLEASE TELL ME, you dont run the two togather....
you MUST KEEP SEPERATE. EQUIPMENT FUEL is 100%
Auto is only like 53 per mile.
and then there is AG fuel
Tell me more about both posts.

Subscribed!!
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  #7  
Old 03-06-2013, 07:52 AM
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McFarland_Lawn_Care McFarland_Lawn_Care is online now
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Location: Sedgwick, Maine
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Bohiaa - he IS separating them out, on both options.

#1 is the easiest then do what Efficiency said if you wanna track individual vehs or machines.

But YES, do check with an accountant and have HIM do your taxes.

Jason
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