BudLeiser Posted August 30, 2009 Share Posted August 30, 2009 Alright so I installed quickbooks, I've been watching the tutorials. I entered in suppliers as vendors. My locations as customers. About to go through inventory now. But how do you record your "sales"? Do you put each machine as a customer? Say if I have 3 machines at one spot, should I enter this as 3 customers to keep track of each machine? Or is there a way on invoices/receipts that you keep track of this? How do you use quickbooks to track inventory? Do you deduct invetory as soon as it's in a machine? Im not about to keep track of the exact numbers in the machine and exact sales of each item. So I how do I set this up so it's easy, but useful. Link to comment Share on other sites More sharing options...
BudLeiser Posted August 30, 2009 Author Share Posted August 30, 2009 I think the tutorials are just intimidating/confusing me more. So much doesn't apply to vending. Quickbooks is so retail based, and vending is more similar to being a service based business. Anyone ever call around for professional book keepers? While I can easily find an average cost per hour, what is your expected # of hours? I just want to hand over all my receipts and have them bring my quickbooks up to date so I can carry forward from there. All these random receipts are such a pain. Link to comment Share on other sites More sharing options...
alyssamma Posted August 30, 2009 Share Posted August 30, 2009 Bud, is this for bulk? Also, how big are you? If it is for bulk, and you don't have a Jax-size route, I would say ignore inventory. I have a single income account for vending. I have a main expense account with several sub accounts for product, auto expenses (mileage), locating, machines, and misc. Now, I also use a different program to track income by location. I do this for tax purposes (where I live there are local taxes). If you pay local taxes, or have to pay some type of sales tax, then I would make sub accounts under the main income account. If you don't have that many locations, make an account for each location. If you have a lot of locations, make an account for each tax jurisdiction. Hopefully this makes sense. It is high level. If you want some more details, PM me or post back here. Kevin Link to comment Share on other sites More sharing options...
alyssamma Posted August 30, 2009 Share Posted August 30, 2009 Don't sweat QB. It can easily be adapted for service. I use QB for 4 different businesses - a tanning salon, vending, software consulting, and a sports training company. It works great for all of them. Let me know the specific questions you have. Did you go through the interviews? Kevin Link to comment Share on other sites More sharing options...
chrisdunn77 Posted August 30, 2009 Share Posted August 30, 2009 if you are handy with excel you can make a nice spreed sheet to keep track of everything! it took me a little over 5 hours to build. but it's perfect for what i need in my state, and will grow with me up to at least 100 different accounts. just a thought, hope it helps you. Link to comment Share on other sites More sharing options...
alyssamma Posted August 30, 2009 Share Posted August 30, 2009 Agreed...Excel can be excellent. However, if you are going to do this as a real business, QB is the correct tool. It will be much better come tax time. Kevin Link to comment Share on other sites More sharing options...
BudLeiser Posted August 30, 2009 Author Share Posted August 30, 2009 16 accounts now growing to 30 soon Fl charity candy has no sales tax so i have to track that seperately because some locations have toy machine and candy machine. I dont care about trackin which candy or toy just which machine Link to comment Share on other sites More sharing options...
alyssamma Posted August 30, 2009 Share Posted August 30, 2009 Bud, do you need to track by location? i.e., do different municipalities have different rates, or is it set for all of FL (or at least all of where you are?) Link to comment Share on other sites More sharing options...
BudLeiser Posted August 30, 2009 Author Share Posted August 30, 2009 Different tax rates by county Link to comment Share on other sites More sharing options...
alyssamma Posted August 30, 2009 Share Posted August 30, 2009 Then I would set up a sub account under your main vending income account - one for each county. Do the expense accounts like I said above, and you should be all set. Don't use QB for tracking inventory...it isn't good for things like candy where multiple bags will go to multiple locations. Does this answer your Q, or are you still confused? Kevin Link to comment Share on other sites More sharing options...
BudLeiser Posted August 30, 2009 Author Share Posted August 30, 2009 Then I would set up a sub account under your main vending income account - one for each county. Do the expense accounts like I said above, and you should be all set. Don't use QB for tracking inventory...it isn't good for things like candy where multiple bags will go to multiple locations. Does this answer your Q, or are you still confused? Kevin give me an overview but please be specific with terminology. Put locations in as customers? Put counties where? Put expenses where? Link to comment Share on other sites More sharing options...
alyssamma Posted August 31, 2009 Share Posted August 31, 2009 Income Accounts (replace "County X" with your specific counties) Vending Income - County 1 - County 2 - County 3 Vending Income is your main account. County X accounts are your sub accounts. When you record your income, it goes to the appropriate county account depending on where you pulled the $ from. For your expenses... Vending Expenses - Auto - Product - Locating - Machines - Misc Record the correct expense in the correct bucket. Is this specific enough? If not, export the chart of accounts you have now and email it to me... Kevin Link to comment Share on other sites More sharing options...
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