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Old 01-24-2010, 08:45 AM
DonaldL DonaldL is offline
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Setup for Owner Operator Truck Driver

I am an owner operator truck driver leased to a company. I am entering my pay settlements using sales receipts using the gross income as an income and then any deductions using negative numbers and other expenses.

2 Things I need to figure out how to accomplish and the best way to do so.

The first is the company I am leased to also owns a truck repair center so all of my work is done there. They invoice me and then later take payments as deductions out of my check.

How do I enter this on a sales receipt I cannot directly transfer funds to the Account Receivable account and if I create a petty cash account since this is a negative on the sales receipt it causes the cash account to have a negative balance and thus still can't apply payment to the invoice.

The 2nd issue is along the same lines I also have a fuel card from the company that I can use in situations where I cannot take an advance or am somewhere that couldn't get me the money anyways. The fuel card usage is then deducted from my paycheck as well. So if I enter my all of my fuel purchases then it will double record for purchases where I used the card. Again what is the best way to track this and keep this from happening.
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Old 01-24-2010, 02:18 PM
MarineMom2 MarineMom2 is offline
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Location: South Dakota
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I do books for several owner-operators so I think I understand what you are talking about. I enter the weekly (or whatever ) settlement using general ledger entries. For example:
dr checking account for the amount of your check, cr income accounts (I separate regular income, surcharge, stop pay, unloading etc in to separate accounts), then dr any expenses/deductions they make for fuel, repairs, licenses, etc. If they happen to reimburse you for scales, tolls, lumpers you can then cr those expense accounts. That way each week has the summary of all your income and expenses in one entry.

If you work on an advance system I just dr the advances received, then cr back the total amount you spent on expenses with debits to the appropriate expense accounts. This also gives you a running total in the "advance account" of what you spent personally and not on truck expenses.

This can also be done through deposit entries rather than general journal entries, but I guess I've never tried using sales receipts. I've been doing this for years in QB and it has worked well for me. I've even found a way to enter mileage to be able to track per mile costs when income reports are exported to excel.

I'd be happy to help you more if I can. Truck reporting is different than normal books, but easy once you get a system set up.

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Old 01-24-2010, 10:53 PM
DonaldL DonaldL is offline
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Join Date: Jan 2010
Posts: 2

Any help would be greatly appreciated. My dad is the driver I do the books so I am trying to get this all setup for him. I have been using Excel to keep track of everyting but obviously that doesn't help for reporting and bill tracking.

I attached a picture of his weekly settlements he receives.

The major obstacles I have to overcome sounds like you have ideas to solve.

So I have all the Fuel Receipts, Tolls, Cash paid repairs on the road, and whatever expenses office supplies etc.

Then I have the Invoices from the company owned repair shop which is no term interest free they just deduct a random amount of the weekly pay settlements.

As well Fuel is paid for either with the company card which is then deducted from the weekly settlement, as well as paid from cash out of pocket or a credit card. (Believe me I am trying to get him to pay one method only)

He also takes cash advances who knows what those get spent on.. I would hope fuel or other business expenses but I don't think that is all.

If you could help me get this all straightened out that would be great.

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Old 01-31-2010, 04:50 PM
MarineMom2 MarineMom2 is offline
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Location: South Dakota
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Sorry it took a bit to get back on this! I take each settlement and enter the debits or credits............normally trucking income, surcharge income, advances, fuel, fees, repairs, license, one entry. If it comes out of or goes in to the settlement it's recorded at that time. Cash expenses can then be entered as a total and broke down by expense with the credit going to the advance account. If fuel purchases on a "card" are charged through the settlement you can account for it then. If it's a separate fuel card, you can run it through the credit card option in QB as a liability, or just expense it when it's paid.

And there's no such thing as a truck driver using one method of payment! lol It's just a matter of all expense receipts being recorded with the credit going to advances, personal cash account, etc.

One thing that might make it easier is just think of advances as his "personal" money. He does get the cash, but uses it for business expenses, but also personal expenses out on the road. Thus, when recording cash business expenses the credit to the advance account will reduce the amount he had "personally" and increase his business expense. The "difference" left in the account is money he spent for food, or a magazine, etc.

Should you need more detailed information I'll try to help.

Last edited by MarineMom2; 01-31-2010 at 04:53 PM.
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