Create a Trucking Invoice Example for Teams Effortlessly

Trucking invoice example for teams

in this video i'm going to cover how to enter invoices and expenses in quickbooks essentials ready let's go [Music] hey if you're new to the channel welcome if you're not welcome back i'm lanelle i'm a bookkeeper and tax accountant and i co-own a trucking business with my husband here that's your money we're all about fueling your life for success what they didn't teach you in trucking school so if you want to know all about growing a successful trekking company like we did subscribe to the channel so you won't miss any of our upcoming videos when you enter your invoices online quickbooks allows you to see how much revenue you made which invoices are outstanding and how much of your revenue you have collected you can save a copy of your invoices on your computer and attach a copy in the quickbooks cloud which means you don't have to keep hard copies because you'll always have a backup in two different places when you create an invoice in quickbooks your financial statements are updated in real time to reflect the change in your accounts receivable and bank account balance you can choose to print the invoices to send them to the company or you can email invoices directly from quickbooks emailing allows the company to pay you online and the money can go directly to your bank account in this video the customer accounts have already been set up notice the invoice section of the dashboard says we have zero overdue zero invoices not due yet and zero invoices that have not been deposited these will change as we enter the invoices to begin click on new invoice select the customer verify the customer's email billing address and payment terms are correct select the date of the invoice and enter the invoice number because this customer is set up on net 30 terms the invoice due date will update to 30 days after the invoice they enter into the date of service the service performed and the quantity amount we typically only use transportation services and fuel surcharge but you can have an unlimited amount of products and services set up for your trucking business the quantity will default to one so i only need to enter the rate and the amount will automatically update if you want you can also attach a copy of the invoice here but i save a copy in a different section which i will demonstrate later give everything review and if all is correct you can choose save save and email save and close or save in new because i will email the invoice with a copy of the bill late into this customer i'm going to choose save and print a hard copy and that is it the invoice has been created during the week of june 28th we have four invoices so i'm going to quickly enter the next three so you can see exactly how it's done [Music] notice that the dashboard shows we have 8631 dollars of invoices that have been entered but they are not due yet if 30 days goes by they will show in the overdue section when we collect the payment it will show up in the not deposited section until we bring it to the bank once the money is in the bank it will be added to the deposited amount now we have all of our revenue entered for the week let's enter the expenses page first select the vendor where the purchase was made or who we paid then choose the account you paid from so if you use the debit card you would choose checking and if you use another form of payment like a credit card or petty cash you can change the selection the payment date should match what is on the receipt you can also update payment method reference such as check number and tags if you'd like those are usually for more advanced accounting but ours is very simple so we're going to leave those blank next we enter the expense category and update the description if needed notice that if you have used this vendor before quickbooks assumes you will have a similar purchase so the most recent entry will auto populate this makes bookkeeping much easier when you have routine purchases for me everything in the same week can go here so i'm going to enter all four cat scale receipts in the same expense after you enter the amounts and make sure your total matches you can click on the box on the bottom left that says attachment and upload a copy of your receipts to the quickbooks cloud now you have a copy of your receipt on your computer and a backup in case something goes wrong and you don't need to save the hard copies anymore once done we're going to click save and new to bring up a new expense to enter and we'll continue doing that until we enter all the receipts for the week notice that as i'm entering each expense there's an option on the bottom of the screen that lets you make the expense of recurring item we use this for things like truck payment cell phone expense and people peoplenet fees those expenses that are the same amount and occur around the same time every week or every month when you make it recurring the expense is automatically added to the financials which saves you time in your bookkeeping task and here's another tip when entering fuel receipts create separate lines for fuel and death this will help later in life when you're trying to verify the amount of fuel receipts for your if the taxes if you have not seen that video yet i'll put a link in the description so you can check it out okay once you're done entering all your invoices and expenses for the week you'll want to verify the profit and loss statement is accurate click save and close after your last invoice from the dashboard choose reports then profit and loss details enter in the dates you are reviewing mine will be june 27 through july 3rd let's see all of my revenue looks correct now i'm going to scroll down and ensure i didn't miss any receipts i'm also going to check the bank and the credit cards and ensure that i'm not missing any receipt and that if any automatic payments hit the accounts that i enter those in the quickbooks as well everything looks good looks like we have a profit of about 4 500 this week a little on the high side because we didn't have payroll or truck insurance this week those are paid once a month so i'm officially done with my bookkeeping for the week until the payment comes in which i will show you next what to do when that happens so let's go back to our dashboard and recall we had 8631 dollars in outstanding invoices for the week once the payments come in click new then receive payment choose which customer is paying select the date the payment was made you can either fill in the amount that was received and the invoices will auto populate the payment amounts or you can select which invoices were paid and the amount received will auto populate based on the amounts checked verify the total is correct and select save and close notice on the dashboard the 8631 is now in the not deposited section of the invoice section now choose new bank deposit choose the account that received the deposit the date the deposit was made and select which customer paid this will pull over from the receive payment screen that we just left the amount on the top right will populate if this is different from the actual bank deposit enter any adjustments in the details section if any interest or fees like detention or lumper feeds were added enter those as a positive number with the invoice number in the description box as reference if there were any fees deducted like check cashing fees or comm check fees enter those as a negative number again using the invoice number as a reference once all adjustments have been entered ensure the amount at the top of the screen matches the baked deposit slip amount once everything matches this is where i save the attachment which includes my bank deposit slip a copy of all the invoices and any backup regarding any adjustments however as i stated earlier you can save the backups in the invoice section and you can even put attachments on the screen where you receive the payment now we go to the dashboard all the invoices have been deposited you can click on the number and it will take you to the details and you can choose to view and edit any of the deposits that were posted i hope that helps and if you'd like to see any other videos regarding quickbooks for your trucking business let me know in the comments there are lots of things you can do from the dashboard and different sections of the software if you found this video helpful be sure to click the like button and subscribe to the channel also i have a playlist of additional videos to help you navigate the finances of your trucking business just click on the top link and it'll take you to the playlist that's your money for today thank you for watching i'm lanelle chappelle and i'll see you in the next video