Managing your business

ive been trying to find the same info. seems like the information i have found is almost too in depth to really be able to retain anything(that probly doesnt make sense). a spreadsheet or something would be great. or some sort of chart that shows basically how many cents/mile are spent on fuel, truck payment, maintenance, etc.

 

I bought a truckers software program that was a little complicated and had things I didn't need. I just did my own. I do a spread sheet for all expenses and then I have a separate one for fuel where I list each fuel stop with invoice number etc... I then have for revenue where I list each load #, p.u. and dest, gross, f.s. etc... Then I do monthly profit and loss statements. I see if I can put up some examples. If some owner operators would put what their spending and making on paper it would be an eye opener.

 

A forum member emailed me (can't remember his user name) a spreadsheet he designed:

http://dl.dropbox.com/u/18009262/Cost Per Mile Worksheetused.xls

It's a bit disorganized and just an overview, but you can input your own numbers (provided you don't overwrite the cell formulas) which will generate "what-if" scenarios.


My approach is a little different. I hate typing data into individual cells!

I use PcMiler for actual routes travelled, then export it to Excel:

http://dl.dropbox.com/u/18009262/IFTAQTR3_2007.xls

I can then reference those cells and line 'em up with my fuel card purchases and customer invoicing software which are exported to different worksheets.
The only bump is when I pay cash for fuel. Then it's just a matter of adding a row manually, which doesn't happen very often. Takes an hour or less at the end of each quarter to generate an IFTA report, sales journal,
cost breakdown, etc.

 

I should put that Access training to use since I'm off right now and design a database for drivers. Shouldn't be too difficult to build.

 

I use Quickbooks only because I had it for another business that I recently closed. It's not terribly trucker friendly so I use a series of excel spread sheets as well. Quickbooks is good for the financial reports though.

 

Hell.... I just save myself the headaches of thinking & the extra time of imputing this here & imputing that there....

Spend the money. Hire a book keeper! I send them everything! They sort, calculate, & create me a nice & shiney P&L statement. All while I'm driving down the highway creating revenue.

 

Then you might be in the hole and not know it until you get your nicely little shiney P & L and it says "Broke" at the bottom. Book keepers cost money I can see my P & L everyday.

 

I ain't broke yet!

Bookkeepers do cost money. And it is a complete tax write off.

I do write everything down in a notebook though.... So whenever I'm curious, I can do the math.

 

i think i would prefer reds way--keep a running p/l in the trucfk--but have an accountant--the same one who does your taxes keep your books all nice and neat with ALL the deductions in their proper place