Software your using, and general questions

I use a standard invoice template that I found on the internet and editited in word. I have no accounts payable just recieveables even now I'm not billing out so I don't have to worry about it. No payroll I don't have any drivers that arent owners in the company. As for ifta fuel receipts and state mileage go into a spread sheet. Everything gets totaled up and entered into the computer at the end of the quarter online and that tells me what to pay or how much of a credit I will receive.

As for the truck. You're right looks like an x tmc truck milage is a little high. And its going to be due for an overhaul here soon. It'll have a twin turbo cat I have not been impressed with those motors st all. I have one in an 06 rated at 550 it don't pull like a cat should. Personally I'd stay away from it you don't even want to know what it costs to overhaul that motor and have it done right.

 

I like the Trucknpro program by Foglinesoftware, too. You can check out the video at www.trucknpro.com. There are a couple of other programs you could also check, www.truckershelper.com and www.easytrucking.com. Out of the three, I prefer the Trucknpro program for the money and ease of use.

 

Invoicing is simple. You put your company name at the top, then put the terms of payment (i.e.- Net 30, etc., ), date, Broker or shipper name and address, rate confirmation number, bill of lading number, pick up name and address, consignee name and address (I usually list all stops, if more than one). I list the rate and break out any incidentals, such as permits reimbursement, etc., and then total the invoice. If you use the software, it will do all the work for you. I have a template that I can use or print it out from the software. You save some typing when you put the load information into the software. You build a reputation of anyone with whom you do business. You build a reputation with a broker just the same as with a shipper. I don't know anything about nobrokreloads.com, but there are a number of loadboards. If you wanted to move forward sooner, you could buy the truck and rent or lease a trailer. I prefer paying cash, but it would be a way to get rolling sooner. Regardless of how you keep your books, it is important to stay on top of them, not only for taxes, but for your own solvency. Seeing how well or poorly you are doing at any given time helps in planning and doing projections. It can also help spot problems. For instance, you may think that you made money on a particular load. When you put all the revenue and expenses, you might find that you actually lost money or broke even. If you take a load in that lane again you may need to raise your rate in order to be profitable.

 

I run a 5 in 1 loose leaf log. It has a place for state miles, bol numbers, and shipment numbers, keeps everything nice and neat with a DVIR on it as well. That's what I use, I have considered a GPS but have not bought one yet. I don't see the point in spending $400 for something that is only going to be used for state mileage.

The T2 and the 387 are fuel economy trucks. Personally I think they're ugly but hey that's just my opinion on the matter lol. I have no accounting programs or tracking programs, I use recipts and pay stubs to figure things out. I know what it costs to run my truck on given amounts of miles and by experience on what I pay to have it serviced and what not. That's how I keep track of my costs. Mygauges is a program that's pretty good for expense tracking. You may want to look into that as well. The business aspect is the hard part of being an O/O driving the truck is fairly simple.

Personally I would choose a type of freight that's going to keep you moving year round instead of having to have 2 different trailers. Especially if one of them is a reefer. IT's like a truck if it sits around 6 months of the year it's not good on it. So I would just suggest pulling a reefer year round to start out with. And with a headache rack on the truck you can't hook up to a reefer (i've tried). So if reefer is what you want to do, go with a reefer if flatbedding is what you want to do go with a flatbed. You can run the south in the winter, and there is still flatbed freight that moves in the winter it just slows down a little. That's typical though. Good thing about a reefer is people have to eat and you an haul dry in them as well.

 

Don't worry about the brand or chrome. That can come later. Starting out you need to find a truck that is affordable, in good shape and is fairly inexpensive to purchase and operate. You can do a lot with fuel mileage by slowing down and driving sensibly. Once you get started, you can put money away and trade up in a year or two, if that is what you want. A lot of new owner operators fall in love with their truck. That is a good way to lose your shirt. A truck is only a tool that we use to earn a living. I don't trade trucks that often. When I find a truck that is in good shape and gives good service, I tend to keep it. I have known others who trade about every couple of years. No one ever made money by spending. In business, you save where you can. I have owned Pete's and KW's. I still own a KW along with another truck. I used to think that there was no other truck but a Peterbilt. I have since found out differently. I still like the Pete, but I can buy 2 trucks of a different brand for the same money. I won't promise that I will never buy another Pete, but it will need to be a very good deal for me to spend the extra money for a name. All that chrome and lights won't make you any more money.