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I have done quickbooks for years. We are trying to go into a…

Customer Question
I have done quickbooks...

I have done quickbooks for years. We are trying to go into a new partnership and we do oilfield work. The job we do is billed at a daily rate of about 5800.00 per day. The new partners want to know what the profit is for one day.

Accountant's Assistant: The Accountant will know how to help. Is there anything else the Accountant should be aware of?

Not sure, but I can answer questions they have. I hope

Submitted: 10 months ago.Category: Finance
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Answered in 1 day by:
11/19/2017
Financial Professional: ABC Accounting Group, Financial Advisor replied 10 months ago
ABC Accounting Group
ABC Accounting Group, Financial Advisor
Category: Finance
Satisfied Customers: 900
Experience: Accounting Manager
Verified

Hi. Confirming the question you have for JustAnswer. Thank you.

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Customer reply replied 10 months ago
do you have an answer?
Financial Professional: ABC Accounting Group, Financial Advisor replied 10 months ago

Hi. Do you need to know how to compute the daily profit? Thanks.

What are your expenses and are your expenses by job?

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Customer reply replied 10 months ago
I needed to know how to show a potential partner parts of profit and loss without jeopardizing our part.
Financial Professional: ABC Accounting Group, Financial Advisor replied 10 months ago

I would give a "high-level" detail - showing the $5,800 per day less what the expenses would be daily (take your yearly expenses and divide it by the days you worked on a job) - that would be the simplest way.

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Financial Professional: ABC Accounting Group, Financial Advisor replied 10 months ago

If you have some $ detail on expenses, send them my way. It could help. Thank you.

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