1. Ask the Expert: Fertilization Strategies for Success: Dec. 12, 2017
    Learn how to do more with less when it comes to your fertilization services. Join the live Ask the Expert event hosted by Koch Turf & Ornamental: Dec. 12, 12-2 p.m. ET in the Fertilizer Application forum .

quick books Question!

Discussion in 'Business Operations' started by nlminc, Dec 17, 2007.

  1. nlminc

    nlminc LawnSite Bronze Member
    from GA
    Messages: 1,671

    I've decided to start a new file on my lap top for my 2007 QBs. I started fresh and loaded all of my customer info and then I went thru each months bank statment and added in my deposits and expenses into their accounts.

    I did January thru July and when I was done I wanted to see a repot...profit and loss and none of the info I entered is there! A report on a vender from Jan - July even shows up empty. Why is this?
  2. daveyo

    daveyo LawnSite Senior Member
    from N.J.
    Messages: 907

    Did you set up a chart of accounts? I'm assuming you would have had to set up mock invoices, enter the item under the chart of accounts, description etc.. and then save the info. also the type of account it was would have to be entered as well. i.e Landscaping would be an income account and plants would be under cost of goods and advertising would be an expense account. Enter all the data and you would easily have your P&L
  3. nlminc

    nlminc LawnSite Bronze Member
    from GA
    Messages: 1,671

    Thanks Dave.

    I just took the lump sum of what was deposited during each month and added it as one payment under Landscape services(income). Fuel, plants, advertising, etc...are all under expenses.

    I have all of the records for my statements that were sent out and came in as paid on my desk top. I know!

    I'm just looking at trying to start over clean since I have time to mess with it now. I never sit down and really enter my account info like I should during the year........just pump out statements and record when they are paid.
    I need to get a handle on it....so I thought I would start a fresh file on my laptop, enter in the back statements and everything would look golden! Duh!!

    I'll go back and look at the chart of accounts and make sure they are income and expense......I'm sure they are. I'm not even getting a report for a particular vender for the year......that's weird.
  4. Doug1966

    Doug1966 LawnSite Member
    Messages: 118

    Sounds like a no brainer - but I was open the transaction that you used to enter these and make sure that the actual transaction date is correct.

    Also, I would be interested in how you entered expenses. Were they opening balances on the intial account creation, were they journal entries, or did you enter them as vendor bills?

    If vendor bills, did you pay those bills? If you didn't, and are using the cash basis method of accounting, I don't believe it would show in the P&L until you paid the vendor bills.
  5. mattfromNY

    mattfromNY LawnSite Bronze Member
    Male, from Central NY
    Messages: 1,582

    Are you sure your report is set for the correct year? I've been known to try and get a report for this year, only to find I'm looking at 'last fiscal year to date' or 'last quarter to date', etc.
    Just a suggestion.
  6. nlminc

    nlminc LawnSite Bronze Member
    from GA
    Messages: 1,671

    Okay! I'm a dumbazz! Yeah.......I had the dates wrong on all of my info added to the bank reg. It's not 2008 yet is it!! See why I like to be out in the field!

    Thanks for your help guys....sorry I wasted your time.
  7. mattfromNY

    mattfromNY LawnSite Bronze Member
    Male, from Central NY
    Messages: 1,582

    Well, fellow dumbazz, I'm with ya. Sometimes the simplest overlooked things turn into our biggest headaches.
    Have a good one.
  8. JB1

    JB1 LawnSite Fanatic
    Messages: 5,904

    its a great program, it will tell you anything you need to know, just have to hit the right buttons. good luck with it, winter is a good time to learn it, maybe take a class on it if you get a chance.

Share This Page