Do you know how much you make in profit per mile? Why would you want to know? TruckingOffice PRO trucking software offers a Profit and Loss Report (P&L) , but we believe that most trucking businesses will be far more interested in a Company Overview Report.
The Profit and Loss Report is a standard accounting report that takes all in the income and subtracts all the expenses and gives you a number than shows if you’re making money – or not. It’s a report that any bank or lending institution will require if you want a loan to expand your fleet or cover an expensive repair.
But it’s not the best way to discover what’s going on in your trucking business.
What is making you a profit?
When your expenses are less than what your income, then you’re making a profit. That’s basic. But how do you find out what’s making that profit?
A month with a big repair will show a loss – but did you really lose money that month?
Much more effective is knowing your cost per mile.
What is Considered a Loss?
Running a successful trucking company depends on your knowledge of the business, the revenue you make compared to your costs, and what your accounts receivable reports look like. Of course, if your expenses are greater than your income, it may indicate a loss for the year. However, there’s more to it than that. What looks like a loss could merely mean you’ve misinterpreted the figures.
That’s why you need trucking management software. (See, as much as we love QuickBooks, the fact is – it doesn’t do trucking very well. )
You may have heard that an owner/operator makes less than company drivers. It all comes down to knowing where the money is going and planning for unexpected expenses. Trucking software is designed to help you see exactly how to manage your costs and revenue. Knowing the daily cost of operations and your break-even point will help you determine what’s working and what’s not.
Will you find that on a P&L report? Nope.
Company Overview Report
With our trucking software, you’ll only get an accurate, detailed account of how your business is doing. With a TruckingOffice PRO trucking software, you’ll get the only report that produces a breakdown of the trucking business numbers to show your numbers per mile.
This more complicated report doesn’t just look at the money – it looks at how you make money. You’ve already put in a dispatch with your mileage and your billing – we simply take that data and put it to better use. How TruckingOffice Company Overview Report Can Help You
Using the Company Overview Report, you can discover what the price of doing business is – and how never to bid for a load that won’t make you money. You’ll see when you’re making the highest profit and how much of a hit you take by hauling an empty trailer.
The profit and loss report tells bankers what they need to know. With the Company Overview Report, owner-operators and fleet managers can learn even more – which trucks are making a profit – and which are not. With time and experience, a manager will be able to pinpoint the loads that need to adjust their costs.
If you’re working on a spreadsheet, you have to do a lot of programming to get this level of analysis. I’m not saying that you can’t do it on a Google spreadsheet, but it will require a lot of cut and paste or copying data and hope you don’t have a numeric typo that would change the report’s findings. TruckingOffice PRO doesn’t require you to retype anything. It uses the same dispatch information again.
Your Company Overview Report is waiting for you at TruckingOffice PRO
When you’re ready to discover how you can make more money with your truck as an owner-operator or as a fleet manager, we’re here. We’ll even give you a free trial. Put in last month’s data to see how you’re doing, and this month’s data to see how much better you can do with the knowledge the Company Overview report can give you.