Keeping Track Of Cash Jobs

TRC

I'm not sure how to handle the bookkeeping of cash jobs in QuickBooks. Anyone have any experience with this? Do you bother keeping records at all on cash jobs?

Teetorbilt

What cash jobs? I know nothing! Nothing!

Cole

What's a cash job?

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JustaFramer

Thing with cash is it leave's no trail unless you put in the bank. If you didn't give a reciept for the work or charge sales tax that is going to be on you.

Mike Finley

Is this a trick question? Is TRC a branch of the IRS?

If you want to keep track of a cash job, why would it be any different in quick books? I don't see how the method of payment changes anything.

If you recieve cash for a job, I have never done this, but I have heard from other people that all the paperwork and records for that job for some reason disappear.

Teetorbilt

The biggest problem with cash occurs when the wife finds it.

Cole

:Thumbs:

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TRC

Okay, first of all i'm not part of the IRS.....or am I? But really, I guess I kind of get the point. So if one was to theoretically have a job that paid cash, one would probably not have any records of it.

Teetorbilt

Ben Franklin's not talkin'.

TRC

Funny teetor.

Mike Finley

Theoretically speaking, I would say that is a theoretically correct assumption that there could be a distinct advantage to someone doing something dishonest like that... such as the instant multiplication of net take home profit by that persons current income tax rate.

If you take in a $1.00 and have to pay out .41 cents in taxes you have .59 cents to spend.

If you take in a $1.00 and pay out 0 taxes you have $1.00 to spend.

...theoretically speaking of course.

I personally feel it is dishonest and unethical and proudly pay out every penny I legitimately owe to our fine government.

DecksEtc

Thanks Mike! You just made beer come out my nose and go all over my keyboard, mouse & monitor.

I would appreciate if you reimbursed me, in cash of course...

Mike Finley

Theoretically speaking - the checks in the mail -

Hey, are you cleaning the rust off your tools yet getting ready for the deck season up there? Another 4-5 months and you won't have to snowblower before you set piers right?

73 degrees in Denver yesterday! Unseasonable warm, but I will take it!

DecksEtc

It's bad enough Teetor is constantly bugging us about the warm weather, now you have to start to???

And yes, I'm anxious to get the deck season started. It had better not be 4-5 months though. I'm hoping to have a couple of jobs lined up and be breaking ground in April. I just quoted a couple of jobs last week and have a few more lined up in the next week or so. This is, of course, my slowest time of the year but now that the Christmas spending season is over and people are starting to plan what to do with their upcoming year-end bonuses and income tax refunds, the phone should start ringing off the hook. We're at the National Home Show and a couple of others in April too, which helps boost business.

73 huh - try -15C and another 15 cm of snow on the way...

Teetorbilt

Deck's, Do you have to dig footers or are you allowed to build directly on the permafrost?

DecksEtc

Good one Teetor.

Tell me though, what do you use? Floating deck blocks???

Tom McNall

They have no idea of The Great White North now do they Decks?

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Have Fun eh?
Tom McNall
Great Northern Stone
www.greatnorthernstone.com

Teetorbilt

Talked to my friend in Timmons, Ont tonight and he said that it was -26C. Sent me some pics of his scoot sitting in the snow, do I need to know more?
We have had almost a week in the 70's to 80 today, clear skies and a breeze off of the ocean. Might go fishin' tomorrow. Bummer, I have to BUY ice to keep the beer cold.

DecksEtc

That's enough out of you Teetor!

I'm not as bad off as Timmons though. It's only -5C here right now. We had a good thaw last weekend but got hit with 10 cm on Monday. The thaw did spark up a few quote request though - people see their grass and they start thinking about how they want a new deck. I'm hopeful for an early spring and being able to hit the ground running come April 1st!

Leaving for Myrtle Beach in 2 1/2 weeks - 11 rounds of golf in 6 days, now that's the life!!!

And yes, we do save on ice in the winter. Just throw the 24 on the deck! My GF doesn't complain about the fridge being full and I have ice cold ones!

Grumpy

I dunno I think I'd rather deal with snow once a year than p[ossible death from hurricane once a year.