New sole trader


M

MrBitsy

I am just about to start work as a driving instructor and am new to
accounts! I will be driving for a school with several instructors. I take
money from learners and pay a franchise fee to the school monthly.

I have purchased QB 2006 Regular, but am unsure how to deal with one sort
of payment.

Many learners will pay me at the end of the lesson, so I just need a
Customer account and an item (lesson). However, many learners pay the
driving school direct for a block of ten lessons. I have to invoice the
school for the students that pay them direct, billing for the number of
hours I taught each learner. I have to invoice every two weeks.

I would like to track each customers payments to me both direct and through
the school - how do I deal with this in QB 2006?

Thanks,

Ray Keattch.
 
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P

Peter Saxton

I am just about to start work as a driving instructor and am new to
accounts! I will be driving for a school with several instructors. I take
money from learners and pay a franchise fee to the school monthly.

I have purchased QB 2006 Regular, but am unsure how to deal with one sort
of payment.

Many learners will pay me at the end of the lesson, so I just need a
Customer account and an item (lesson). However, many learners pay the
driving school direct for a block of ten lessons. I have to invoice the
school for the students that pay them direct, billing for the number of
hours I taught each learner. I have to invoice every two weeks.

I would like to track each customers payments to me both direct and through
the school - how do I deal with this in QB 2006?

Thanks,

Ray Keattch.
The driving learners could learn to drive themselves couldn't they?

You don't need an accounting package!
 
M

MrBitsy

Peter Saxton said:
The driving learners could learn to drive themselves couldn't they?

You don't need an accounting package!
Is it only me that didn't understand the relevence of this reply? Of course,
if I missed some humour somewhere ...

MrBitsy
 
P

Peter Saxton

Is it only me that didn't understand the relevence of this reply? Of course,
if I missed some humour somewhere ...

MrBitsy
Why do you think you need an accounting package?

Why do you think you can learn accounting yourself without any proper
study?

The above is not humour but relevant to your message. Try answering
the questions.
 
M

MrBitsy

Peter Saxton said:
Why do you think you need an accounting package?

Why do you think you can learn accounting yourself without any proper
study?

The above is not humour but relevant to your message. Try answering
the questions.
Ok, you will have to humour me.

I need to keep records of customers and the lessons they do. I need to keep
records of those lessons plus expenses. My accountant has asked me for those
figures at the end of the year. My driving school has asked me to invoice
them fortnightly for customers who pay them direct.

This is the first time I have ever been self employed after 27 years of
working for an employer, therefore I have never needed to keep accounbts. It
had been suggested I use a spreadsheet, MYOB, SAGE or Quickbooks to keep
financial records. I chose QB, because I liked the "flowchart" approach it
uses for data entry.

I have a scenario where I don't understand how to use QB to track payments
that go direct to the driving school, that I have to invoice for. Outside of
that question, if you think I shouldn't be using QB, or have other
suggestions how I log this information, then I would welcome them.

MrBitsy
 
H

HeyBub

MrBitsy said:
Ok, you will have to humour me.

I need to keep records of customers and the lessons they do. I need
to keep records of those lessons plus expenses. My accountant has
asked me for those figures at the end of the year. My driving school
has asked me to invoice them fortnightly for customers who pay them
direct.
This is the first time I have ever been self employed after 27 years
of working for an employer, therefore I have never needed to keep
accounbts. It had been suggested I use a spreadsheet, MYOB, SAGE or
Quickbooks to keep financial records. I chose QB, because I liked the
"flowchart" approach it uses for data entry.
Excellent. You'll never regret being self-employed. My motto is: "If I'm
going to work for a fool, it might as well be me."
I have a scenario where I don't understand how to use QB to track
payments that go direct to the driving school, that I have to invoice
for. Outside of that question, if you think I shouldn't be using QB,
or have other suggestions how I log this information, then I would
welcome them.
I believe it was Don Knotts who said: "There is no royal road to geometry."

Go to your local community college and take Bookkeeping 101.
Get a comprehensive book on accounting.
Hire a QB expert to help you set up the program and guide you through the
basics. It'll be the cheapest $100 you ever spent.
 
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P

Peter Saxton

Ok, you will have to humour me.

I need to keep records of customers and the lessons they do. I need to keep
records of those lessons plus expenses. My accountant has asked me for those
figures at the end of the year. My driving school has asked me to invoice
them fortnightly for customers who pay them direct.

This is the first time I have ever been self employed after 27 years of
working for an employer, therefore I have never needed to keep accounbts. It
had been suggested I use a spreadsheet, MYOB, SAGE or Quickbooks to keep
financial records. I chose QB, because I liked the "flowchart" approach it
uses for data entry.

I have a scenario where I don't understand how to use QB to track payments
that go direct to the driving school, that I have to invoice for. Outside of
that question, if you think I shouldn't be using QB, or have other
suggestions how I log this information, then I would welcome them.

MrBitsy
I would suggest you use a spreadsheet. Your accountant should suggest
how he would prefer the information to be presented.
 
A

Allan Martin

HeyBub said:
Excellent. You'll never regret being self-employed. My motto is: "If I'm
going to work for a fool, it might as well be me."


I believe it was Don Knotts who said: "There is no royal road to
geometry."

Go to your local community college and take Bookkeeping 101.
Get a comprehensive book on accounting.
Hire a QB expert to help you set up the program and guide you through the
basics. It'll be the cheapest $100 you ever spent.
You must be kidding, hire a QB expert and only pay $100 to be guided through
the basics?
 
S

scfundogs

MrBitsy said:
I am just about to start work as a driving instructor and am new to
accounts! I will be driving for a school with several instructors. I take
money from learners and pay a franchise fee to the school monthly.

I have purchased QB 2006 Regular, but am unsure how to deal with one sort
of payment.

Many learners will pay me at the end of the lesson, so I just need a
Customer account and an item (lesson). However, many learners pay the
driving school direct for a block of ten lessons. I have to invoice the
school for the students that pay them direct, billing for the number of
hours I taught each learner. I have to invoice every two weeks.

I would like to track each customers payments to me both direct and
through the school - how do I deal with this in QB 2006?
Does QB 2006 have job capabilities? If so then setup the school as a
customer with the students that pay the school as jobs of that customer.
Invoice each job every 2 weeks. This allows you to track all student
payments to you.
 
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M

MrBitsy

scfundogs said:
Does QB 2006 have job capabilities? If so then setup the school as a
customer with the students that pay the school as jobs of that customer.
Invoice each job every 2 weeks. This allows you to track all student
payments to you.
Yes, it does have that capability - thanks for pointing me in the right
direction!

MrBitsy
 

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