bookkeeping for lawn maintnance - books

Discussion in 'Business Operations' started by boozoo, Oct 20, 2002.

  1. boozoo

    boozoo LawnSite Member
    Messages: 60

    Are there any good books on the day-to-day mechanics of bookkeeping for a lawn maintenance business? Specifically, what should I do with receipts, job info, invoices, bills, etc. at the end of the day, as far as bookkeeping goes? It would also be nice to know how to incorportate QuickBooks into my bookkeeping procedure - when and if I have one!. And please don't suggest that I get "any good book on accounting or running a small business" - they might be good at general concepts, but I find them very short or non-existent when it comes to the specific day-to-day procedure. And lest you be confused on this point, I don't mean *when* or even neccessarily *in what order* I do things, but simply *what* do I post (I guess that is the right word). Please help, this has troubled me for years.
  2. 1grnlwn

    1grnlwn LawnSite Bronze Member
    Messages: 1,261

    Quick books, credit card, check book, envelopes.

    Quickbooks makes everything easy. I pay all bus. bills with credit card or checks( business checks). Keep bills on desk pay with checks entered in QB. Enter CC receipts about once a month, before paying CC bill( all in QB) Once receipts are paid they go in envelope with month and year written on outside. Keep equip fuel seperate for tax savings. Accountant at end of year. Invoices are also done on QB.

  3. Turtle II

    Turtle II LawnSite Member
    Messages: 152

    you posted --Keep equip fuel seperate for tax savings.--

    Cant your truck fuel get the same deductions as the fuel/oil for your mowers, equipnment, etc.???
    I've spoke with two accounts who told me this was true.

    They sugested to take one credit card and use it only for things to do with fuel, oil, fluids, etc......
    These will get a rate of deduction different from other cost associated with doing biz.

    Have another account for all parts--- for your mowers, and your truck, all equipnment, etc...things like tires, maintenance bills, batteries, lights, anything it cost to operate your vehicle....tags, tax, etc......Put all these bills on one charge card----and use your monthly statements at the end of the year for your tax deductions.

    You can then tally up your biz cost pretty eazy, and deduct them from your gross to get your taxable income.........

  4. GroundKprs

    GroundKprs LawnSite Bronze Member
    Messages: 1,969

    Don't look bottom up - looking at your stacks of receipts and how to sort them. You must look top down - what data records do you want to have access to, in what detail? Do you want just a record of truck expenses, or do you want to categorize all truck expenses - fuel, insurance, repairs, depreciation, etc.

    When you know the data you want, then you can set up your own Quicken/QuickBooks system. Or go to a good accountant for assistance in setup.

    You want to keep equipment fuel receipts so you can get refund of road tax. In Indiana, I get 33.5 cents/gal back. Take federal tax as credit on 1040 (Form 4136). Many states allow refund or credit for state road tax on fuel, since your off road business machinery is not causing wear to roads (Indiana form MF-4136).
  5. walker-talker

    walker-talker LawnSite Platinum Member
    from Midwest
    Messages: 4,771

    I am taking a class offered by the SBA this week on basic accounting, the cost is only $20. Later I will get Quickbooks and take a class at my local university. I am sure if you go to the library and look you will find what you are looking for. Once you find a book that you can read and understand well, go buy it. I personally can't advise what book or books to purchase (other than Guerilla Marketing--GREAT BOOK!).

    Happy hunting
  6. 1grnlwn

    1grnlwn LawnSite Bronze Member
    Messages: 1,261

    Turtle II what jim said road tax refund on equip.


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