I just accepted a job offer tonight and I want to track my truck and personal expenses much more closely than I did last year. I used the 'paper' method last year and it was a pain come tax time. I had a LOT of paper. This time, I would like to set up a system where I can scan receipts and track my expenses in an easy spreadsheet. Do you recommend any software, or just stick with templates for Excel?
Expense Tracking Software?
Discussion in 'Experienced Truckers' Advice' started by Criminey Jade, Apr 13, 2015.
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I was in the same boat as you. I am trying the Neat scanner. They also have a app for your smart phone. Scan the document and it is saved. I will still do my excel spreadsheet just to make sure I have everything. Still need to keep paper in case of audit.
Criminey Jade Thanks this. -
Kevin Rutherford has a good one on his Lets Truck Website called Profit Gauges for 19.95 a month. Also a fuel tracking program that's free.
Criminey Jade Thanks this. -
I tried Trucking Pro and is ok but cost $180 bucks so I stayed with the accounting software from diesel boss.
here is Kevin Rutherford explaining how Profit gauges work:https://www.youtube.com/watch?v=hSHCx9Hx6HECriminey Jade Thanks this. -
I use a bookkeeping service, ATBS out of Denver. I like the company, they've done good work for me. Still gotta be sharp, but I like to be sharp controlling spending and hire a professional truck bookkeeper to handle the tax component. I'm sure they are better than I am. Maybe if the truck business was the only thing I have going it would be different.
Criminey Jade Thanks this. -
Excel is your best choice if you're willing to set it up. Open Office has a version that's just as good and free.
If you want to just throw some money at the problem and have something already set up that you can just forget, pretty much any expense tracking software works. Some even scan a receipt and read the stuff that matters off of it. The only challenge with those is keeping personal stuff separate from business. Sometimes things like that cost more. -
I'm still tinkering with my planning but I absolutely do want to keep everything separated and tracked. I want to set up an S-Corp so that I can start working toward truck ownership and getting my own authority.
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New to the forum.. and industry. But being a previous independent business owner in a small marketing company, I've found the best way to track ALL expenses. Last year was able to accumulate over $10,000 in ACCOUNTABLE deductions with the software. It's called TaxBot. Can be used with a laptop or smartphone as an app. It's simple, $5 a month, tracks mileage (personal and business) using gps, tracks business purchases, its secured, and gives you a full years report (printable) for free once it comes to tax time.
I'm not using it anymore since I'm not an IBO anymore but would highly suggest it! Hopefully this helps... Many positive reviews out there for it too.disoba and Criminey Jade Thank this.
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