So you want to "own " your own company

Is it simple to use; have you tried different programs and found this one being the best?

 

I am currently otr team driver with my father; learning as much as I can. I've been watching what he and others are doing, whether it is stuff around the truck, to fillng out paperwork. Iknow there is a lot to learn, there always will be. My father has been in the industry for 30 years and I'm taking what he is teaching me and reading online, and from first experience to further my knowldge, its a great time so far

 

Not all brokers use short miles, but many do. I received a call this afternoon about a load that the broker stated was a little over 200 miles. I know for a fact that the deadhead is 265 miles. I have made that trip many times. It is unusual for a broker to be off that many miles, but it can happen. I usually run the miles myself, just to keep things honest. Mapquest comes closer to actual miles than most other resources that I have tried. I also have PC Miler and Streets if I want to use those. If the money still comes out with the actual miles then you can use your own judgment as to whether you want to take the load. At least you will have accurate information on which to base your decision.

 

I am glad that you are taking your time and learning. There are several software programs designed for the trucking industry. Some are better than others. One I find easy to use is Trucknpro (www.trucknpro.com). You can check it out online and even download it for a free trial. They now have a couple of versions. It could help you to get a better handle on the accounting side of the business. There are other programs, TruckersHelper (www.truckershelper.com). And another is Easy Trucking (www.easytrucking.com). There are several others on the market. All will give your your cost and profit per mile on each load and for specific time periods. I just happen to like the Trucknpro program because of it's simplicity. Quickbooks Pro is a standard off the shelf accounting program that some use. The regular accounting programs can do the books, but don't have some of the features of the trucking specific programs.

You could also use a spreadsheet to track expenses. This is the way many keep on top of their businesses. You will just need to design the pages the way you want.

This would be an excellent time for you to start keeping track of expenses. I am sure your Dad would appreciate it and it would also bring into perspective what it takes to run a truck. With the trucking specific programs you can see immediately what the costs and profit was on each load. It will assist you in finding your break-even point. Keep in mind that your costs may differ from that of your Dad. You can take 10 different owner operators and have 10 different break-even points. If I had to pick one thing where most owner operators were lacking it would be on the bookkeeping side of the business. Most have no idea of their break-even point. You don't need software to find the break-even point, but it makes it much easier than trying to do it all by hand. When you put everything into the program you get a much more accurate picture of your business. Or in this case, your Dad's business.

 

Hey fortycalglock, I want to apalogize and let you know that I have educated myself some more. Seems you were right and I was as well but, I was not looking at it from the right prospective. When we lease a truck or a car, we sign a lease agreement. So I always thought that when a driver signs his truck on with a company, the company would be providing a contract, not a lease.. I would think the since we call it a lease, the driver would be providing this to the company, not the other way around.

At any rate, I apalogize for making an issue out of it.

 

Maintanance plays a big part as well, especially with my dad its good to be up to dat"e with oil changes and other things around the truck, how can I use spreadsheet right now, is there a "tutorial" I'm sure there's gotta be but can't find one on here..

 

If you have a spreadsheet there should be a help on the toolbar. OOIDA has a spreadsheet already set up for owner operators and lease operators that you can download and play with. www.ooida.com. I don't recall if you need to be a member to access their spreadsheet, but you should find it on the website. OOIDA is a good resource for drivers, owner operators, small fleet owners and smaller carriers. Annual membership is only $25 if you join or renew before then end of January. After that the dues run $45/year. I have been a member for many years.

I don't think that their spreadsheet tracks maintenance schedules, but it will help track the costs involved. You can set your own up in a spreadsheet that you design.

Any of the three software programs that I noted will also help you track maintenance. But, a spreadsheet will work just fine. Some prefer a spreadsheet if they know their way around the program. You can even use a composition book to record revenue and costs issues. Go to Dollar Store and pick up a composition book that has the subject dividers in it. Use the different sections to keep different costs and revenue organized. Use one for revenue and/or load information. You can use another for maintenance. Another for insurance, equipment payments or other costs that you want to track. Those composition books only cost a dollar or two. You will need to do all the math manually, but that is the way we used to do it until a few years ago. I copied what Trucknpro had posted on their website that is included in their software. The first menu is what they have on their bigger version. The list on the bottom lists what is included in the smaller version. The second version doesn't have invoicing and a few other things. It is probably easier to view on their website. Whether you use software such as this, a spreadsheet or do it manually these are some of the things that you will want to track to give you an idea of what it will take to run a truck.



Invoicing
Documenting Scanning
Scan Fuel Receipts
Scan BOL
Scan Expenses Receipts
Word Processor
Revenue Info
Profit and Loss Reports
Fuel Expense
Travel Expense
Broker Agent Database
Customer Database
Truck Stop Database
Logbook Recap calculator
Phone Book
Automatically fills out Monthly
Maintenance Report.
Unlimited Trucks
Unlimited Trailers
IFTA Information
All of the reports that you would need to do
your end of the year taxes.
And much more!

Try The Full Version Before You Buy!



$165.00
** Professional Edition **
* No Monthly Fees!
* Your License Never Expires!
For a one time Fee of $165.00
You can download the Full Version and
start using it today.
You will receive an e-mail with your paid invoice
And your ID to unlock the program and
start using it Today.
We will also mail you a CD with all of the
Video and Software.


NO
NO
NO
NO
NO
NO
Revenue Info
Profit and Loss Reports
Fuel Expense
Travel Expense
Broker Agent Database
Customer Database
Truck Stop Database
Logbook Recap calculator
Phone Book
Automatically fills out Monthly
Maintenance Report.
Unlimited Trucks
Unlimited Trailers
IFTA Information
All of the reports that you would need to do
your end of the year taxes.
And much more!
Invoicing
Documenting Scanning
Scan Fuel Receipts
Scan BOL
Scan Expenses Receipts
Word Processor
Revenue Info
Profit and Loss Reports
Fuel Expense
Travel Expense
Broker Agent Database
Customer Database
Truck Stop Database
Logbook Recap calculator
Phone Book
Automatically fills out Monthly
Maintenance Report.
Unlimited Trucks
Unlimited Trailers
IFTA Information
All of the reports that you would need to do
your end of the year taxes.
And much more.

 

Gman what's that all the way at the bottom of your previous post? It says no no no ? Is that a software you are promoting?

 

I didn't think that it posted the page. Trucknpro has two versions. On their website it compares the two programs side by side. The NO is what is not available on the one version. One version is more beneficial for those who lease to a carrier. The other one is more for those who run their authority or have multiple trucks. I don't have an interest in the company or receive any commissions on anything that people buy. I have used the software and happen to like it. I don't mind giving them a plug now and then. I am sorry that the page didn't post the way that I had intended. I will try to correct it. When you asked about the maintenance I figured that I would just cut and paste it so that you could see what I was talking about. I have not yet downloaded this latest version to use myself.

 

No problem, I was just confused what the NO NO NO ment. I went on the website and saw that it was an error on your part, but its no big deal. Ill try them out in the future, no point in spending 165$ right now. Ill keep it in mind though