I buy and sell heavy equipment. I buy a cat d6, have it painted, change the oil, have it transported and then sell it. I want to be able to run a report that tells me what kind of profit I make on each transaction. How do I start? Each piece should not be an asset, should it? I understand the software, but I just don't know whether to use classes, job numbers or what... Thanks so much for your help.
Interesting line of work your in. I think your best bet would be to use a new job name/number for each piece of equipment. Make sure you allocate all direct expenses and income to the job. Then you can run a "Job Profitability" report that will tell you what your gross profit is on each piece of equipment. (Reports - Jobs, Time, & Mileage).