It's a Team's Life
Hey, I track that
Knowledge is power, and knowing how our business has performed helps us plan for the future.
For the last several years, I have been using an online program called Truck Logics, where I track all of our expenses as well as per diem. It is a very easy program to use, and entries can be entered from my phone and my laptop.
I also use Quicken to track all of my transactions, business as well as personal. I can reconcile my transactions between the two programs to make sure I have entered the business receipts correctly. Truck Logicis is my backup to Quicken, and each month I reconcile the two against each other. Another benefit is that both programs allow me to upload a copy of my receipt to tie the receipt and transaction together.
That would seem enough, but no, there is still more to track, and for that, I use spreadsheets. Slowly I have been moving everything over to Google Drive from Microsoft Office as I have found it easier to use on multiple devices. I learned how to use spreadsheets many years ago, and while I still have to call my daughter for help when I get in above my head, I usually get the result I want.
From the beginning of our career, I have tracked where we pickup and delivery loads. Over the years, I have fine-tuned this information. My main points of information that I want is where we loaded, who we loaded for, pay, and where we delivered. When we are back in that area of the country, I have ideas of who I need to contact for a load. I also track each load's weight, which was used to determine how much a bigger sleeper would impact our income.
Fuel mileage is a given, and that is also tracked and the price of the fuel. I also track our per diem days as well as miles driver each month. Money is set aside for taxes, and I have a spreadsheet where I keep track of income, which calculates how much of our savings will be used to pay our taxes.
All of this sounds like a lot, but in reality, once the spreadsheets are set up, it takes very little time each day to keep them updated. Some spreadsheets are only updated once a month, and others are updated daily. I use Truck Logics each day for our Per Diem and if we create any expenses.
We work hard to make money, and I work just as hard to keep that money in our pocket.
Bob & Linda Caffee
TeamCaffee
Saint Louis MO
Expediters since January 2005
Expediting isn't just trucking, it's a lifestyle;
Expediting isn't just a lifestyle, it's an adventure;
Expediting isn't just an adventure, it's a job;
Expediting isn't just a job, it's a business.