There are a lot of trucking accounting software packages out there. Some of them are comprehensive package that offer entire trucking management software programs. Others focus down on just one part of being an owner-operator: the IFTA filing or maintenance scheduling. Trying to pick just one can be frustrating.
Make it simple on yourself.
You need to know one key number to know to control your trucking business.
Revenue per mile. That’s it.
There are a lot of other numbers to know (and TruckingOffice has plenty of trucker-specific reports to give them to you) but your revenue per mile is the most important. With it, you know which loads you should take and which ones you should pass up. You’ll know when it’s okay to take a low-paying load to get out of a bad location to a better one.
Trucking accounting software without that number is really not worth the investment.
Income and Expenses
You’ve got a lot to track in the transportation business. QuickBooks or homemade Google spreadsheets can work, but why work to make the programs work? We have better things to do – like drive a truck and make money.
Income: Tracking your income as an owner-operator is pretty straightforward – as long as you’re getting paid in a timely way. That’s the rub – do you know when you’re getting paid? Do you know that your invoices are correct? If you’re tracking on paper and then typing all that into another invoicing program, are you sure you’re not entering typos that will cost you money (billing the wrong amount) or time (wrong info on the invoice that has to be corrected)?
Seems smarter to use a software that is integrated with your dispatching that will use the same data.
Expenses: Expenses tracking is critical. Things can get away from you if you’re not aware. You know the ones you have on the road, but what about insurance? Truck loan payments? Maintenance alone will be another whole spreadsheet! No smart trucker will miss any expense that will reduce their taxes in the long run. Having a trucking accounting software that will not only track your income but also your expenses seems obvious – as long as it can make sure to bill your customers correctly. Just like Santa* has to keep his reindeer under control when he lands on all those roofs, you’ve got to manage your income to be sure that your expenses don’t cause you to fall.
Preparing All Year Long
TruckingOffice trucking accounting software enables you to keep a close eye on expenses that eat away at your operating budget. This is important because every dollar spent on needless costs is one that could go in your pocket instead. TruckingOffice gives you powerful features like these:
- The ability to use existing expense categories or to create your own customized options as needed.
- A description field where you can enter important information for future reference.
- Special fields when entering fuel expenses, such as the fuel vendor and the relevant state.
- The ability to track expenses per vehicle, so you know which trucks (or drivers, for that matter) are making you money and which ones are costing you money.
- Report-generating capability so you can clearly see your expenses and profits per mile.
Our trucking accounting software also offers added benefits like these:
- IFTA-related applications that make sure you always pay your fuel taxes to the penny, never too much or too little.
- Payroll functions that ensure your people get exactly how much they’ve got coming, on time and every time.
- Invoicing features that make it easier for you to bill clients and get your compensation as soon as possible.
- Dispatching screens that let you know what’s going on with at-a-glance convenience.
- An intuitive master dashboard that lets you navigate to the function you need instantly.
Does your trucking accounting software have a Revenue Per Mile report?
If it doesn’t, start looking for a better program.
Take a look at TruckingOffice TMS. We’ll give you a look at the entire program for free, right now. Sign up for your free trial today to learn your revenue per mile and so much more.
*Kris Kringle is one of our clients, so we know.