Doing your own bookkeeping?

Discussion in 'Ask An Owner Operator' started by PE_Trans, Feb 27, 2020.

  1. PE_Trans

    PE_Trans Road Train Member

    For now I’ve been using ATBS, but now I feel like I can take on my bookkeeping. What can I use to help me correctly categorize my business expenses? I’m assuming that this will create a document called a Profit & Loss that is then given to the tax preparer? I think I’ve heard something about Kevin Rutherford having this info? Is it free?
    blairandgretchen Thanks this.
  2. Long FLD

    Long FLD Road Train Member

    Mar 4, 2015
    Murdo SD
    Profit Gauges isn’t free but it’s pretty simple and straightforward.
  3. tnevin225

    tnevin225 Road Train Member

    Jan 1, 2014
    I use Profit Gauges and it works great. It's $19 a month and easy to use and thy have great support if you need it. If you use the Fuel Gauges program that's free it will keep track of your fuel and maintenance and ties rite into profit gauges.
  4. Cabinover101

    Cabinover101 Heavy Load Member

    Jul 28, 2019
    There's also Rigbooks and Fogline
    PE_Trans, blairandgretchen and theSoz Thank this.
  5. Ridgeline

    Ridgeline Road Train Member

    Dec 18, 2011
    Go get all your information from ATBS in detail showing expenses, and with all of your ap and ar in it.

    Then take that information to build a ledger from the catigories in excel.

    You don't need to be an accountant or programmer to do this, why spend money on it when you can do it for free.

    There are even free excel p&l templates that can be attached to the data in a spreadsheet.

    Oh and ATBS may even be able to hand you an export in excel for that.
  6. blairandgretchen

    blairandgretchen Road Train Member

    Dec 9, 2011
    South west Missouri
    I use the PG also. My CPA loves it - pulls the figures out quick and easy.
    PE_Trans Thanks this.
  7. Midwest Trucker

    Midwest Trucker Road Train Member

    Aug 31, 2018
    We use quick books. Whatever you use, I encourage you to keep with it and think about what all you need to learn for the long term depending on your growth plans.

    Edit: Oh I read that as can’t continue doing it. But yeah we use Quickbooks and can pull up a profit and loss at any time with it all sorted into categories to help track spending. 95% of accountants use it as well, if yours doesn’t that’s a red flag. Our accountant has a secure portal where files can be uploaded for them to start working on.
    blacklabel, PE_Trans and Opendeckin Thank this.
  8. TallJoe

    TallJoe Road Train Member

    Apr 12, 2016
    Profit Gauges are good. Very well explained by KR himself.
    Last edited: Mar 4, 2020
    PE_Trans Thanks this.
  9. Crazytrucker77

    Crazytrucker77 Medium Load Member

    Nov 23, 2014
    Hermiston, OR
    I started out making my own spread sheet then went to quickbooks and am now with rigbooks. Doing my own spread sheet was fine but no automatic online storage. QuickBooks was just to much work for me and didn't offer anything for load tracking. Rigbooks has been my favorite because it is a simple all in one online software. It gives you the majority of everything you need and what it lacks they are working on getting integrated into the software. At $19 a month it is in line with most other software out their. The only complaint I have is they have the ability to capture receipts but no way to convert them to a PDF file. Like I said there working on that. When you are making your expense categories for any software use the categories on the IRS 1099 form (whatever form you file) as a reference.
    Cabinover101, blacklabel and PE_Trans Thank this.
  10. Cabinover101

    Cabinover101 Heavy Load Member

    Jul 28, 2019
    I couldn't find very good tutorial, maybe I wasn't looking in the right place, but mostly all I found was the video by the couple in a straight truck
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