Quickbooks Online for Owner Operators?

I'm not sure what you're asking for, or expecting with a screen shot. In the past month I've moved from QB 2011 to QB online. Since I have two trucks and transaction entries are often delayed, the snapshot on the homepage is not really all that useful. For that to work, you really have to have your data entry up to the minute.

For what it's worth, I'm liking the change from the client version. It will help me keep more up to date than I was having to do my data entry in one location. The Android app is pretty robust for what it is, making it useful for expense entries if I want to do that without the laptop. They also just released an app for Mac. So I can access that way versus a browser. Seems about equal either way, so far.

 

I have qb 2012. I'm planning on switching to online shortly. thanks for the feedback.

 

OK, here's more lessons learned for someone considering the move to Quickbooks Online. The only two real negatives. The biggest one is importing transactions from your bank, payroll service, or other service provider that offers data export in Quickbook format. In the QB client versions, that capability is pretty solid. Choose the format, map the fields and accounts, and click on go. Online really doesn't offer much of that in the base application. There is a sort of a workaround with an available third party app (with an additional subscription fee) that enables you to import from Excel spreadsheets. If you're fairly adept with spreadsheets, it's not difficult to convert a *.qbx file, make a few edits, then upload. If you aren't comfortable with preparing/editing raw data tables, expect that to be a problem.

Another is very limited options for customizing forms like invoices. That said, the generic options they do include are adequate enough that I publish them as a pdf and only need to add a company logo before sending on to a customer, whether that's on paper or electronically. People that mail paper could just as easily print invoices on pre-printed letterhead versus blank paper to accomplish the same thing.

A minor negative is that the web-based application behaves a little differently than the client software. Nature of the platform, really. Browser-based apps don't give developers as many features and options to work with. Intuit has done a really good job of making the online app look and feel like the client software. Just don't expect it to be equal. Most things you did with the old version can be found in the online product. You just have to find it and figure it out.

Upsides: You can attach files to just about anything. I can attach rate confirmations and bills to my invoices. If I want to review one from the past, everything I need is linked to the posted invoice. Expenses too. With the Android mobile app, you can attach a picture of the receipt on invoices, provided the device has a camera.

Offsetting the data import limitations mentioned in the negatives, QBO will go to your bank and collect new transactions if you enable it with your login credentials. It will summarize those on a separate table to make it easy to bring those transactions in as new, or match them to a manually entered expense or other transaction. It does learn a little as you go. For example, the first time you enter a purchase from TruckPro, you have to choose the "Truck Parts and Supplies" expense category and method of payment. Next time it grabs a new TruckPro transaction, that account and method of payment will already be pre-selected for you.

 

I am a programmer so I developed my own software which is better than any corporate one size fits all program. It sorts all of my expenses automatically. Come tax time the only thing I have to do is hit the print button and I am done.

 

No separate accounts. I don't need the extra similarly named accounts to make mistakes with. I suppose you could do that with sub-accounts for units. Still too complicated to run reporting in my opinion. Using single accounts and commenting unit numbers and other interesting details simplifies the accounting reports.

For detailed analysis I run a report and take it to Excel for further sorting/filtering/charting. I use a truck or trailer number in the expense line comments for all categories. Then, when I run reports, I can filter on a unit number if I want to know that level of detail. For example, if I want to see the PM expenses on a particular unit, I export the Truck Repair and Maintenance expense report, then filter on unit number and "PM".

Fuel is a little special. Separate sub-accounts for road and off-road (reefer). The comment line is semicolon delimited for running text-to-columns in Excel to create fuel totals by state. For example, a fuel purchase in Georgia will show GA;125.123;gal;42. When I break it up in Excel for IFTA, I'll have the two letter state, number of gallons, and unit number in separate columns. Sort the table by unit number then date. Then use the SUMIF function to get totals by state per truck, total the two for the number that goes on the IFTA return.

 

That's great. Are you selling it?

Not trying to be snarky. My point being that the trucking accounting programs on the market lack flexibility to really adapt them to any business scenario other than a straight owner op leased to a carrier. Which is why I ended up going with QB as the core system, using Excel for extended functionality where I need it. I refuse to alter my business practices or accept compromises just to fit my accounting system.

Have you considered expanding your product, or explored maybe doing trucking specific QuickBooks application modules or an add-on app for QuickBooks Online? I believe Mystc (NASTC) is in that category. I believe it feeds accounting-relevant transactions into Quickbooks. I haven't explored just how customizable it is, as it's just too expensive. Mainly due to bundling features I don't really care about and a subscription model. I think Internet Truckstop also has some sort of system available for a "modest" subscription price.

Obvious feature enhancements would include unit-specific accounting as the OP asked about. Accounting for fuel transactions with a custom form and an IFTA specific report would be another. Handling factoring transactions yet another. I have the knowledge and skill to write apps for Excel or Quickbooks as well. At this time, the ROI is not there, nor is the time to do it. My current system is my path of least resistance and gets the job done.