Quickbooks Users

For all the quickbooks users - if you buy a roll of film and add it to the items list, with the price you paid for the film, how do you bill it out?

For example:- On average you may get 10 cars from a roll of film, how do you measure the amount of film that is getting used so quickbooks can deduct a % of the total cost every time you create an invoice.

Or do you just enter it it onto the system (items list) then when it is gone, tell quickbooks it has been sold? and if so, for how much ? and what sort of % markup do you give it?

Naughty

I dont count it in inventory, but the best way if you want to do that is enter a roll as 100 ft then keep track of the ft used, and if the roll is 200.00 then the cost is 2.00 each. but dont list the price on the invoice. just a total.

just a thought.

I just count the rolls as Cost Of Goods Sold, and leave it.

Why not just enter the film as a material expense? After one year you'll know pretty much what your average percentage of film used per job is. It hasn't varied more than a couple percentage points year in and year out for me.

same here

I enter mine as a cost of doing business.

I do keep an Excel spread sheet of all of my films.

too hard to keep track in a linear manner - start with a begining bank balance w/o film purchases at fiscal start - at end of fiscal add up invoices from film dealer and subtract on hand inventory (hard count) for tax deduction of liquid assests - hard count best done with scale and tint weight book

In general calculate 10 ft per 4 dr, 8 ft per 2 dr car or truck.

Hope that helps

same here to much work trying to figure out how much film was used per car especially if you have a few cars going at once.

Enter as the square footage of the roll and name by type of film or the linear feet and name the item by its roll width and film type, and sell the square footage. Item 24pp35 times 2 units = 24" X 2 feet = 4 feet @ $$$$=Price. Allow for or create an item for waste, or use returns and allowances to record waste and loss just make sure it is a cogs that shows on your profit and loss above the expense items. Item your shop labor by the hour and bill the decimal equivalent like .75 labor items= 45 minutes=45 dollars at 60 dollars per hour if that is your shop rate for labor. If you do not have a shop rate, call around the aftermarket mechanics, motorcycle shops etc and see what they charge on average and put it in the labor item. It can be fun to do...or depressing.


Two points:
1. COGS inventory is taxable to the extent it increases your assets on hand over the amount you ended with last year, or start with zero this year, so it is not a traditional expense item that is all deductible. Taxes are on asset increases, not just cash like many people think.
2. You want to track waste, theft, and other crap to make sure you are charging enough on the retail sale to account for the whole profit thing and identify problems as you review your numbers. It has to be flexible and adjustable on a ticket by ticket basis, since there are so many variables so keep a flexible system. The Items on QB make this easy, just associate them to the account you need.

yepper. I did make an excel program so I can just enter my cost in lineal ft and then I add a 50% multipler for the mark up. Any waste I just keep in a box for future use...customer doesnt get a break on the extra material left after the pattern. They can have it if they want it...but most dont want it.