How can track expenses for each of my service vehicles? In other words-we have 4 service vehicles & I need to track expenses ie. fuel, oil changes, parts for each vehicle

tammyleninsky · ‎February 04, 2020

Kendra H · ‎February 04, 2020

I'm here to provide you with some clarification with tracking expenses for each of your service vehicles.

For each vehicle you have, you can set up 4 accounts and name the accounts the vehicle name. Once you've set up those accounts, you can create subaccounts for those expenses like fuel, oil change, and parts for the vehicles.

To set up the parent accounts here's how:

Click on Lists at the top, then choose Chart of Accounts.
Select the Account drop-down menu, then pick New to create a new account.
Go to an account type, then Continue.
Enter the account details.
Select Save and Close.

To create subaccounts for the expenses:

Click Lists in the top menu, go to Chart of Accounts.
Choose the Account drop-down, then select New to create a new account.
Pick the account type, Continue.
Type in the account details, then choose the Subaccount of checkbox.
Select Save and Close.

Once you've completed the steps above, you'll be able to track expenses for each service vehicle you have.

Let me know if the steps above do the trick. Thank you for reaching out to the Community. Have a safe and productive rest of your week!

View solution in original post

Kendra H · ‎February 04, 2020

Good evening, @tammyleninsky.

I'm here to provide you with some clarification with tracking expenses for each of your service vehicles.

For each vehicle you have, you can set up 4 accounts and name the accounts the vehicle name. Once you've set up those accounts, you can create subaccounts for those expenses like fuel, oil change, and parts for the vehicles.

To set up the parent accounts here's how:

Click on Lists at the top, then choose Chart of Accounts.
Select the Account drop-down menu, then pick New to create a new account.
Go to an account type, then Continue.
Enter the account details.
Select Save and Close.

To create subaccounts for the expenses:

Click Lists in the top menu, go to Chart of Accounts.
Choose the Account drop-down, then select New to create a new account.
Pick the account type, Continue.
Type in the account details, then choose the Subaccount of checkbox.
Select Save and Close.

Once you've completed the steps above, you'll be able to track expenses for each service vehicle you have.

Let me know if the steps above do the trick. Thank you for reaching out to the Community. Have a safe and productive rest of your week!

Dima GS · ‎February 05, 2020

Could you comment on pros and cons from reporting perspective when compared to having main accounts categorized by the type of expense (Fuel, Repairs, Etc.) and Sub accounts being specific vehicles.

In this method you duplicating vehicles in subaccounts vs. in the proposed method you duplicating types of expenses in the subaccounts.

KhimG · ‎February 05, 2020

Thanks for joining the conversation, @Dima GS.

Setting them as main accounts roles up all the expenses used for a specific vehicle, each of them getting the same priority on your statement. The method allows you to run a collapsed or expanded report. You can see the summary performance of the business and get at all the details.

Depending on how you want these transactions to show on your report, make sure to select the most convenient and easiest way to track expenses.

I recommend checking with an accountant to ensure everything is accurate.

Post again in the Community if you need anything else. I'm here to help. Have a good one!

tammyleninsky · ‎February 06, 2020

We are doing it to better track the money we are putting into repairs, etc. in the service vehicles. I like that it is in the Chart of Accounts, I just wish I was wiser to rolling it into our P&L Reporting.

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How can track expenses for each of my service vehicles? In other words-we have 4 service vehicles & I need to track expenses ie. fuel, oil changes, parts for each vehicle