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?
     
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  2. Long FLD

    Long FLD Road Train Member

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    Profit Gauges isn’t free but it’s pretty simple and straightforward.
     
  3. tnevin225

    tnevin225 Road Train Member

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    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

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    There's also Rigbooks and Fogline
     
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  5. Ridgeline

    Ridgeline Road Train Member

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    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

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    I use the PG also. My CPA loves it - pulls the figures out quick and easy.
     
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  7. Midwest Trucker

    Midwest Trucker Road Train Member

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    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.
     
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  8. TallJoe

    TallJoe Road Train Member

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    Profit Gauges are good. Very well explained by KR himself.
     
    Last edited: Mar 4, 2020
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  9. Crazytrucker77

    Crazytrucker77 Medium Load Member

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    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.
     
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  10. Cabinover101

    Cabinover101 Heavy Load Member

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    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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