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Profit & Loss Statement Structure

Discussion in 'Business Operations' started by Dave does lawns, Feb 27, 2013.

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Catgories or no Catagories

  1. Catgories

    5 vote(s)
    71.4%
  2. no Catagories

    0 vote(s)
    0.0%
  3. Mix of both

    1 vote(s)
    14.3%
  4. Other

    1 vote(s)
    14.3%
Multiple votes are allowed.
  1. Dave does lawns

    Dave does lawns LawnSite Senior Member
    Posts: 260

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

    Two Ideas:

    1. Fuel
      • Truck
      • Machines

    OR

    • Fuel Truck
    • Fuel Machines
     
  2. Efficiency

    Efficiency LawnSite Bronze Member
    from zone 6
    Posts: 1,517

    First one. Then do sub categories for trucks by number.
    Posted via Mobile Device
     
  3. dllawson

    dllawson LawnSite Member
    Posts: 172

    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.
     
  4. bohiaa

    bohiaa LawnSite Fanatic
    Posts: 5,220

    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
     
  5. Dave does lawns

    Dave does lawns LawnSite Senior Member
    Posts: 260

    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 ( :canadaflag: ian ) if it matters.
     
  6. underESTIMATED

    underESTIMATED LawnSite Member
    Posts: 130

    Tell me more about both posts.

    Subscribed!!
     
  7. McFarland_Lawn_Care

    McFarland_Lawn_Care LawnSite Bronze Member
    Posts: 1,384

    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
     
  8. Idaho

    Idaho LawnSite Member
    Posts: 2

    Any lawncare software that you can do a profit and loss report to do away with the added cost of QBs?
     

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