Trucking reports are more than just a way to keep track of miles and fuel use for tax payments. The reports are vital to your day-to-day operation. Why? Because you need to know where your money is going if you plan to succeed in the trucking industry.
Trucking is one of the most secure careers in the nation, moving more than 71.4% of the nation’s freight. It can be a highly profitable career. But, there’s a downside. Trucking is all about numbers and those numbers can make or break your operation. So, you’ve got to watch your expenses as closely as possible. Every penny and every mile matters. That’s why your trucking expense report and stats are so important.
Why are Trucking Reports Important?
Despite the much-publicized shortage of drivers, trucking is still a fast growing occupation. There are more than 7.4 million people working in jobs that are tied to trucking. That includes 3.5 million drivers. Also, there are more than 1.7 million truck driving jobs in the US today, according to the U.S. Bureau of Labor Statistics.
Furthermore, the ATA predicts heavy-duty truck driving jobs to increase by six percent in the next decade. Not to mention, trucking revenue soared to $796.7 billion last year. Obviously, somebody’s doing something right, and you need to be in that group.
Remember, everything is based on miles and revenue per mile. That’s why accurate trucking reports are vital to your success. Carefully track your expenses to find out where you can cut back. Of course, you can’t do much to cut fixed costs such as truck payments or insurance. But, you can find ways to adjust variable costs such as food, lodging, fuel, and maintenance to save money.
Keeping Receipts is Not Enough
When we talk about tracking expenses, we don’t mean keeping receipts and stuffing them in a box somewhere. Then, when it’s time to file IFTA or IRP reports, you bring out the box and start trying to make sense of the mess. If you’re going to succeed in the trucking industry, it’s imperative that you get organized.
A trucking expense report should show you the figures you need for the following:
- Calculating and filing fuel tax quarterly reports.
- Paying drivers or other employees accurately and on time.
- Sending accurate and timely invoices.
- Keeping track of truck maintenance to avoid costly breakdowns or accidents.
Yes, it’s a lot to keep up with and the process can be extremely time-consuming. That’s time you would rather spend driving, right? So, you need a solution. How can you keep accurate reports without jeopardizing your driving time or giving up your downtime? TruckingOffice has the answer.
TruckingOffice Can Help Your Business Grow
Our TMS program was designed by truckers for truckers. It will help you stay on top of expenses, IFTA reporting, invoicing, dispatches, routing, load management, truck maintenance, driver pay, mileage, fuel use, and so much more. Our system works with you while you are on the road, leaving more free time to spend at home. You’ll get real-time information about cost and revenue per mile so you know where your business stands.
Those are only a few of the highlights of our TMS program. We’re so sure you’ll enjoy and benefit from our system, we offer this 30-day, no-obligation free trial. This is a great way for you to see how comprehensive our transportation management software is and how you won’t have to do another trucking industry report by hand. So, sign up now. We look forward to having you on board.