Why Is Record-Keeping Important? IFTA Audit
Two words why you need to be keeping a close eye on your record-keeping:
It’s pretty easy to let numbers slide. Some people don’t fill out the monthly reports, don’t keep the old decals (did you know you need to keep those for 4 years?) and say “Close enough.” Then they’re shocked when the audit notice comes.
Maybe they don’t have their old records in order. Who doesn’t have the urge just to throw the old material in a box in the back of the closet when you’re done every quarter?
Who are you going to pay to help you get through an IFTA audit? I don’t know who I would call – maybe an attorney or an accountant. Paying them by the hour? I know you can search Google and find someone who’ll be willing to help you for a price. A hefty price.
Fail that audit and kiss your IFTA license good-bye. You’ll pay fines, interest, and penalties, and set a bond before you’ll be reinstated. We’re not talking a little bit of money here. The word “catastrophic” comes to mind.
Do you struggle with record-keeping?
There are other ways to get your IFTA done that might seem painless – unless you look at their billing. The cheapest I saw only did the calculations – you still had to the the actually filing. If you didn’t have your data perfect on the first day of the month to file, can you imagine what a delay might cost you if they can’t figure out your numbers?
Wouldn’t it be nice to get those numbers right at the time you create the dispatch and not have to figure out what you did wrong three months later?
Decide How To Manage Your IFTA Audit Before It Happens
When I decided to build a trucking business, I decided that I was going to do it right the first time. I’m still pretty stuck on that attitude. I don’t want to have to go back and redo things. Wasting time like that bothers me.
When you have that mindset, it’s easier to take the time necessary from the beginning. I didn’t have much trouble keeping track of my mileage (back in the days before IFTA) and I used Excel spreadsheets to track everything. Somebody asked me recently how many I had and I can’t remember anymore. But it was a lot, and it was confusing to everyone but me. But if I forgot one number on one spreadsheet, it could cause a lot of havoc.
I was determined if I got notice for an IFTA audit, I would be ready.
Trying to explain my system was nearly impossible. When I got sick, I needed help, but who could manage the dozens of spreadsheets? I ended up trying to manage my business from a hospital bed. That was horrible, but it had one great result. It led to the creation of TruckingOffice trucking management software.
The TruckingOffice Secret Sauce
I did get audited once – by the DOT. You know why I didn’t worry too much about it? Because I was using TruckingOffice at that point. I could print out any report the auditor wanted in a minute or less. I could search my databases for records to prove my numbers.
The auditor was impressed. No hassle, no fines, no problems. I passed my audit without a single question. I think she was done in less than a half hour.
Why should we have to enter those numbers twice? It just increases the chances that a typo will create a mess that will take hours to find and fix.
If I’m committed to doing things one time, I’m going to also want to use that same data as many ways as I can without repeating the effort of entering or tracking it. That’s the secret sauce of TruckingOffice. You don’t have to re-enter data into an invoicing program and then the same numbers into an IFTA tracker.
It’s the end of the year. January is another IFTA month.
Is it the right time for you to do it right the first time?
Then it’s time to try TruckingOffice.
You’ll find you don’t worry about the IFTA audit. You’ll discover how your company is making money and where you can shut off the losses. You’ll find out how to avoid taking the hit on a load that you might end up paying more than you’re paid. Your truck maintenance will be scheduled to avoid high on-the-road repairs.
You’re on the road – shouldn’t your trucking management software go with you?
You can buy a bunch of different programs to schedule a dispatch, plan the route, track your billing, file your IFTA, pay your drivers, manage your maintenance… but why would you do that when one program does it all – while you’re sitting in the driver’s seat, not at home in front of your computer. Our cloud-based software will let you manage your trucking business from the cab of your truck. Send an image of the signed bill of lading to the shipper while you’re waiting for your coffee. Post the bill while you’re eating breakfast. Plan your next oil change while you’re waiting for the dock to open up. That way, when you get home, all you’ll have to do is open the envelopes with your checks in them.
We guarantee you’ll love this software. We’re so confident that we’ll give you the first month free. You can sign up – no credit card needed – and use the software to enter all of the last quarter’s loads and use the PC*Miler routing program to compute your miles and prepare your IFTA report. If you’re not convinced by the One Minute Dispatch Entry and the variety of reports to show you the real financial status of your business, then it’s no money out of your pocket. You’ll be free to leave, no charge. But I’m betting that you’ll find that a trucking management software that was designed with a team that included a trucker (that’s me) and uses our language (not the terms only an accountant knows) is worth it to you.
Time to decide: another quarterly report accompanied by way too much coffee and stress or a painless IFTA? The choice is up to you.