Great stuff. I've used QB ever since their birth but I did not upgrade every year. It got corrupted 1 1/2 yrs ago and I'll be buying either the desktop or online version. I plan to do bookkeeping (I'm a CPA too) for OO's. I'm glad to hear about the PR module. I used to do my PR on a spreadsheet and I think I'll continue that way. Keep up the good stuff and I confident you're trucking venture will pan out.
Great video and so helpful! Why did you say we need to get ADP? We have 1 double cab 3500 truck to do hotshot driving. We have 1 CDL driver. What do you think is best for us to do accounting and payroll and whatever HR we will have? Thank you in advance! Krista
Got a quick question I have the basic account for QuickBooks, I don’t see my anywhere where it shows my balance sheet only the profit and lost what can I do ?
Thank you for this tutorial. Could you please clarify: if I create invoice (full amount) and create expense - factoring fee - I have two separate entries. But on my bank feed there is only one inflow (amount after factoring). How would I match them?
@@tamaraasatiani1004 no. That’s a specific issue that not everyone has so I didn’t cover it in my course. I could show you how to fix it in probably 10 minutes through a video call.
Also, Does your course that you have available for purchase tell you the simplest way, like you did on here telling us things you don't have to input if you have accounts linked?
Hi, we run a small fleet of 5 trucks and have recently purchased a quickbooks online, doing invoices how did you remove sales tax on the actual invoice?
@@BookkeepingExpertWould you be open to doing a one on one session with my partner and I more in-depth on how to use quickbooks online specifically for trucking? We are willing to pay you
I'm a new user to QB. I am a leased on owner operator. Under what category/description do I use for the weekly income that is paid to my company name. And what category/description do I use for the money I pay myself
Hi I have quickbook online. I noticed on dashboard the my cash flow numbers by month match my deposits in the back account, but the Income chart shows higher than the cash flow/sales numbers. Is there something else that gets factored into the income? I noticed on the reports some transactions show as Deposit and some show as Accounts receivable. I create invoices and make the money as received once deposited. I want to make sure I am not double counting the income unexpectedly.
P&L cash basis will only show income counted from cash deposits. P&L accrual basis will include deposits AND all of your account receivable even if you have not collected the money.
Super generous with the info and very humble with the bumps you've taken. Thank you, I appreciate you. This is a quality channel.
I appreciate that!
Great stuff. I've used QB ever since their birth but I did not upgrade every year. It got corrupted 1 1/2 yrs ago and I'll be buying either the desktop or online version. I plan to do bookkeeping (I'm a CPA too) for OO's. I'm glad to hear about the PR module. I used to do my PR on a spreadsheet and I think I'll continue that way. Keep up the good stuff and I confident you're trucking venture will pan out.
Thanks!
I’m glad I stumbled on your video
I'm glad you're here!
Great video and so helpful! Why did you say we need to get ADP? We have 1 double cab 3500 truck to do hotshot driving. We have 1 CDL driver. What do you think is best for us to do accounting and payroll and whatever HR we will have? Thank you in advance! Krista
If you have employees, you need to file payroll taxes. If they are just independent contractors, you don’t need a payroll company.
Learned a lot!
Glad I could help!
Did you already did. Video on steps to set up w2 paying yourself as a driver?
Why would you setup payroll for yourself? No point unless you’re an S Corp
@@BookkeepingExpert I am
@@BookkeepingExpert w2 or 1099 ? Which one is better to pay myself
@@fivestar000 you need to be w2 employee if you're an s corp
@@BookkeepingExpert okay thanks
Do you calculate depreciation for every single truck separately or together?
Separately
What type of QB online you woud you recommend? Simple, Essential or Plus? Just starting a new trucking business.
Simple Start
Am I able to start a bookkeeping business in the trucking industry niche?
Absolutely!
@@BookkeepingExpert Should offer my services to new companies on the FMCSA List? I have background in dispatching as well
Got a quick question I have the basic account for QuickBooks, I don’t see my anywhere where it shows my balance sheet only the profit and lost what can I do ?
You should be able to see your balance sheet in the reports
hey i'm very interested and I want to know how do you enter Bill of Lading in Quickbooks please I do really need help in that area
That's a tough question to answer here in the comments!
@@BookkeepingExpert so how would you want me to do it?
They many plans for quickbook and I am a sole prop. Which Plan should I choose for quickbooks? Thank you.
simple start
I am new to your channel. Do you have a sample chart of accounts for this type of business?
No, I don't, sorry!
When creating invoice would you add fuel surcharge?
New towner operator
Yes, if you are billing a direct customer. But most brokers will tell you how much you're getting paid.
Thank you!! I have contractor 1099. Is it COGS or Expenses ?
Expense
Thank you for this tutorial. Could you please clarify: if I create invoice (full amount) and create expense - factoring fee - I have two separate entries. But on my bank feed there is only one inflow (amount after factoring). How would I match them?
I can answer your question, but unfortunately, it is a bit too complicated to answer through a comment like this. I would need to show you.
@@BookkeepingExpert is there a detailed answer (with demonstration) in your course?
@@tamaraasatiani1004 no. That’s a specific issue that not everyone has so I didn’t cover it in my course. I could show you how to fix it in probably 10 minutes through a video call.
This is AMAZING!!!! Thank you so much
You're so welcome!
@@BookkeepingExpert literally doing qb right now! Should vehicle loan be just that? Or depreciation? Category?
@@stagecoachexpressllc1004 Vehicle Loan should be a long term liability
@@BookkeepingExpert oh my gosh thank you so much this just put a huge smile on my face!!!!!amazing!
Very helpful tutorial . Do you file taxes for owner operators with cargo vans?
Yes
@@BookkeepingExpert cool can we plan for 2022 tax year. I also need to start using quick books. I need the link for quick books. Thank you
It’s just quickbooks.com
So manual input only has to be done when your bank account or credit card is not involved? With those two being attached to your QuickBooks..
Also, Does your course that you have available for purchase tell you the simplest way, like you did on here telling us things you don't have to input if you have accounts linked?
Lol I also would like to thank you for your videos!! I was losing my mind with this until I watched yours! I appreciate you!!!
Yes
Ideally, you should never need to do any manually input. Worst case scenario, you can enter your data into an excel file, and then import it that way.
Hi, we run a small fleet of 5 trucks and have recently purchased a quickbooks online, doing invoices how did you remove sales tax on the actual invoice?
There should be a little box next to the amount where you can uncheck "Tax"
@@BookkeepingExpertWould you be open to doing a one on one session with my partner and I more in-depth on how to use quickbooks online specifically for trucking? We are willing to pay you
@@priscillachavez1059 Absolutely, you can use this link to schedule a meeting anytime! www.harrisburgbookkeeping.com/scheduling
Hi Do you have any recommendation on staffing agency to get drivers for your trucks?
Yeah, email me. zach@harrisburgbookkeeping.com
How can I setup a payroll to pay my drivers by load instead of by hour?
Use ADP to setup payroll
@@BookkeepingExpert Can I link info from ADP to Quickbooks. If I'm O/O & pay myself as employee will quickbooks be ok?
What if I do most of my transactions on my credit card? Can I I do both accounts? I mean bank account and credit card account.
Yes, you can connect both accounts to your Quickbooks bank feed ✅
We have 2 owners, if we to an owners draw directly from the bank can I categorize it in expense and add each of us as a vendor? Thank you in advance!!
If so then what category and description do I put it under? Thank you again!
No, that's not an expense. It is an equity draw and should be categorized as "Owner's Pay" or "Member Draw" or "Owner Distributions"
What are cost of goods sold for trucking company?? please listed.
COGS are only relevant for companies that produce goods and inventory.
@@BookkeepingExpert COGS not for truckig
i saw in this tutorial cogs
I'm a new user to QB. I am a leased on owner operator. Under what category/description do I use for the weekly income that is paid to my company name.
And what category/description do I use for the money I pay myself
Income can be labeled anything. Revenue, sales, or services. Payment to yourself is "Owner's Pay" and is an equity transaction.
I'm Trying to book a consultation. Are you still accepting customers? For book keeping.
You can use this link if you want to schedule a consultation
www.harrisburgbookkeeping.com/scheduling
My husband is very good at running his small trucking business but his paperwork for taxes are messed up. Maybe we can guide each other.
I would be happy to help you with your bookkeeping
Why is tracking depreciation important?
So that you know your Profit & Loss and so that your balance sheet is accurate
Good morning sir
I’m a new truck business owner
And need in quickbooks
Can you help?
Yes. I’m a quickbooks expert! I can help you with everything. Reach out anytime. Zach@Harrisburgbookkeeping.com
I want to obtain mi dot number just to get my quote for insurance 😕 i dont want to apply for the mc cause i dont have enoufgt money to get in yet
There is no rush. Trucks will still be running in 2 years. Save $10,000 and then start
GOOD PERFECT
💯
Hi I have quickbook online. I noticed on dashboard the my cash flow numbers by month match my deposits in the back account, but the Income chart shows higher than the cash flow/sales numbers. Is there something else that gets factored into the income? I noticed on the reports some transactions show as Deposit and some show as Accounts receivable. I create invoices and make the money as received once deposited. I want to make sure I am not double counting the income unexpectedly.
P&L cash basis will only show income counted from cash deposits. P&L accrual basis will include deposits AND all of your account receivable even if you have not collected the money.