The trucking industry keeps the United States’ economy flowing. Without truck-drivers hauling resources on the road, a great number of industries would come to a stand-still. Around 71% of the United State’s freight is moved by trucks. This equates to nearly 11 billion tons of freight. With numbers like these, it’s no wonder that the trucking industry is so vital to the country.
Even so, not every trucking business is being run as efficiently as it could be. Just as trucking is important to the country, tracking records is important to trucking business owners. There are many things that can be done to run your business more efficiently, such as understanding your expenses or using trucking management software.
Use a Business Plan
It doesn’t matter if your trucking business plan looks into the next few months or years. What matters is that you have one. Basically, your business plan is a road map to running an efficient and successful trucking business. In this business plan, you will document if you will need to buy or lease equipment, what trucking equipment you need, and the number of drivers you manage. You will give a description of your trucking company, as well as its goals.
Budget Your Profits
By pocketing profits to spend instead of saving them, you are digging your trucking business into a hole. If you have trouble with divvying up the profits your business makes, you may want to create a budget. This budget should have some money set aside for future unexpected costs. In the world of trucking, repairs and maintenance are common. Prepare yourself for those uncertainties and save up. By having money prepared for the unknown, you won’t have to worry when a number of trucks need repairs.
Knowing Your Expenses
By knowing your business expenses, you can prevent your company from going under. By tracking expenses such as salaries, fuel, truck and trailer finance payments, office expenses, truck maintenance, and repairs, you will understand how much it will cost to run your business. And by understanding how much money you are putting into your business, you will be able to find out if your business is profiting you or not.
Many trucking business owners keep track of their expenses through a spreadsheet on Excel. Others prefer using pen and paper to input data. TMS, otherwise known as Trucking Management Software, however, is the most efficient way of keeping track of expenses and other data.
Keep Track of Expenses with TruckingOffice
Know Your Numbers: How to Manage Your Trucking Business More Efficiently
Are you tired of putting data into spreadsheets? Is it a struggle to keep track of data? TruckingOffice has trucking TMS that will make your life as a trucking business owner much easier. Not only does our TMS keep track of expense records, but it will keep track of dispatch records, driver pay records, truck maintenance records, IFTA reports and payments, invoices, mileage reports, and management reports. Think of all of the spreadsheets you would need to keep track of your trucking business. TruckingOffice’s TMS will keep track of everything for you.
That’s not all! Crunching numbers takes a great deal of time and can easily become frustrating. Our trucking TMS does all of this for you. All you need to do is enter your information and our TMS will do the number crunching for you. If you are interested in our trucking TMS, but not entirely sure about it, that’s okay! We offer a full 30-days for you to test it out for free! Register for your free trial on our website.