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New sole trader

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.

Reply to
MrBitsy
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The driving learners could learn to drive themselves couldn't they?

You don't need an accounting package!

Reply to
Peter Saxton

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

MrBitsy

Reply to
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.

Reply to
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

Reply to
MrBitsy

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.

Reply to
HeyBub

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

Reply to
Peter Saxton

You must be kidding, hire a QB expert and only pay $100 to be guided through the basics?

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Reply to
Allan Martin

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.

Reply to
scfundogs

Yes, it does have that capability - thanks for pointing me in the right direction!

MrBitsy

Reply to
MrBitsy

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