We are a trucking company that purchases fuel in bulk. Our trucks get fuel from our bulk tank every day. We use class tracking for each truck. We purchase the fuel in bulk, so we don't need to write a check or a bill since the fuel is already paid for. How can we track the fuel for each truck?
I appreciate you for sharing detailed information about your concern,JJCletus.
I'm here to show you how you can track the fuel for each truck on QuickBooks Desktop.
You'll have to create a check when customers purchase the fuel per truck.
I'd suggest consulting your accountant for guidance in recording this entry. This way, your account stays accurate.
I've added these article on how to record and work with QuickBooks inventory items:
Keep your post coming if you need more help. I'll be here!
I don't think you understood my question. Customers do not purchase fuel from us. Our trucks run deliveries all day to multiple customers. At the end of the day our employees get fuel at our location. We have already written a check for that fuel we bought in bulk. I need to show a cost for the truck everyday. We track our trucks by class. It does not need to go through payroll.
Thank you for reaching back out to the Community and clarifying some things. I will be happy to help! You have done the first step already by setting up a class for each truck that you have. The next step would be to create a noninventory item name fuel and link it to a fuel expense account. Here's how to create a noninventory item:
Once that is completed, use that one item when you purchase fuel and select the class for the truck it is being put in. You can then enter the number of gallons as quantity and enter the total price. Luckily, QuickBooks will automatically calculate the per-gallon price.
When it is time to run a report, you can simply run a class report per vehicle. Please let me know if you have any questions. My team and I will be here ready to assist you! Take care for now!
I don't think that will work because I have already purchased the fuel. When I purchase fuel it is in bulk (thousands of gallons). When my trucks fuel up at the end of the day I need to show the fuel expense on each individual truck. If I understand correctly your method requires me to write a check. If I do that I am paying for the fuel twice.
Thanks for the prompt reply and clarifications, @JJCletus.
I can share some insights on how to track those fuels in QuickBooks Desktop (QBDT).
You can either crate a check once the fuel is allocated to the truck. This way, the check is assign to the truck for easy tracking. However, if you've recorded this as inventory, you'll want to make an adjustment. Let me show you how.
You can also refer to this article for more details about the process: Adjust your inventory quantity or value in QuickBooks Desktop.
Moreover, I recommend working with your accountant for additional guidance in recording this. They can share some insights on others ways to track those fuels. If you’re not affiliated with one, you visit our ProAdvisor page and we’ll help you find one from there.
Keep me updated if you have other questions about tracking those fuels. I’ll be around ready to assist you. Have a good one and stay safe!
I'll just make journal entries everyday. I can upload a spreadsheet to it. I created a Bulk Fuel account for my debit and a Fuel to Truck account for my credit along with the truck in their own class. Was hoping for an easier way.