Advertise here    

QuickBooks Forums      

Go Back   QuickBooks Forums > QuickBooks Software Support > QuickBooks Pro Forum

Reply
 
Thread Tools Rate Thread Display Modes
  #1  
Old 02-05-2013, 12:09 PM
rnicholson2 rnicholson2 is offline
Registered User
 
Join Date: Oct 2011
Posts: 7
Truck Driver Settlements - Need Suggestions

What is the best way to reflect truck driver settlement deductions like gas, insurance, permits, etc. so that they show up correctly on both the 1099 as well as the balance sheet?

For example:

Gross settlment is $1000
Escrow deduction is -$100
Fuel Deduction is -$200
Insurance deduction is -$20

Total Net Settlment to driver is $680.

Currently I have set up all of our truck drivers as vendors. There is an account called driver settlements that is an expense account. Escrow is set up as individual accounts for each driver as "Other Current Liability" since we owe that to the driver if he quits. But fuel is paid by us over the course of business, so it is deducted from the driver's pay. We pay fuel via a credit card account which is set up in QB. Should I direct the driver deductions to this fuel account? Would I do the same for the insurance account?
Reply With Quote
  #2  
Old 02-06-2013, 01:24 AM
Joe Williams Joe Williams is offline
Registered User
 
Join Date: Jan 2006
Location: Oklahoma
Posts: 8,911
If you are deducting the Fuel cost from the driver, then that amount should be on their 1099 because you are being reimbursed for the fuel cost by the driver.
If the insurance is for the truck and you own it the same is true.
__________________
Joe Williams
joewilliams@wavelinx.net
Piedmont, Ok
Reply With Quote
Reply

Bookmarks
Bookmark and Share
Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is On

Forum Jump


All times are GMT -5. The time now is 09:14 AM.


 

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
All contents copyright (c) by AccountingUsers Inc.