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Help w/ quickbook 08

Discussion in 'Business Operations' started by elite lawns, Apr 16, 2008.

  1. elite lawns

    elite lawns LawnSite Senior Member
    Posts: 363

    how do i put down everything i buy in quickbook like if buy Drink $1.00 and Trash bags $10 how do i put both those item in thanks
  2. elite lawns

    elite lawns LawnSite Senior Member
    Posts: 363

    anybody out there
  3. Quality One

    Quality One LawnSite Member
    Posts: 6

    I enter expenses using the Vendor menu. Just click on the vendor center menu and select "enter bill". You enter the vendor name and how much the total expense was. At the botom of the screen you can itemize the expences, but rarely have a need for that.

    I hope that helps.

  4. Green' Go

    Green' Go LawnSite Member
    Posts: 50

    If you still need help with that let me know. My wife is a quickbooks whiz.
  5. Two Seasons

    Two Seasons LawnSite Senior Member
    Posts: 791

    You need to set up a "Chart of Accounts". Basically what that will give you is your bank balance, your assets, your expenses.

    QB has a tutorial for about $40 on DVD. May be worth it to you.
  6. jlaura

    jlaura LawnSite Member
    from 33713
    Posts: 2

    I think you want to record miscellaneous amounts of money you spend on a daily $1$
    lunch $10
    tolls $5

    at the end of the week you can total all of the miscellaneous expenses and record. Learn to use the help option in Quick-books. It is very well written. Just search record miscellaneous expenses and it will tell you how. The most important things is not to wear yourself out trying to records every single dime everyday. Create a miscellaneous expense log and staple all the receipts if possible. If not tap the little receipts on a 8-1/2 X 11 sheet of copy paper.

    I will use $125 as a example

    You need to make sure its recorded properly by taking into consideration the following.

    If its your personal money. (You paid yourself a income but turned around and spent it on the business)

    In this case you will debit the appropriate expense and write yourself a check (crediting cash) for reimbursement of the expenses.

    You wrote a petty cash check to yourself and spent it throughout the week.

    In this case you would go back to the petty cash check and post each expense

    Credit cash (this is done when you write in the amount of the check)
    Debit the expense (select the account you spent it on. ie. tolls, meals, travel and entertainment, office supplies, and when you're done all the money should be accounted for.)

    Again, use Quick-books help options it good. I consult with small business owners via telephone and on site all the time to make sure things don't get out of control. There's nothing worse than fixing a big mess. Doing it right in the beginning will save you a lot of money in the long run.

  7. Ruben Rocha

    Ruben Rocha LawnSite Senior Member
    Posts: 577

    Are you using cash or a debit card?
    If it is cash set up a petty cash account and just charge each transaction to the item in question. Then just transfer say $100 to the cash account when needed. If debit card (easier) just post each transaction to the proper account.
    In any case you should check with your accountant to make sure you have all your ducks in a row for deductions.

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