We’re all about making life simple, so when putting together your expenses, income, and revenue for each month of 2015, break it down by quarter. Start with January, February, and March.
- If you have been using TruckLogics since the beginning of the year, all your will need to do is generate a Profit & Loss report for the first quarter.
Once you’ve added up the different figures, now it’s time to analyze and set a goal for each month of 2016. Set a goal for how much you want to increase your revenue in January. Then, look at which expenses you can eliminate so you can start shaping a budget. Do the same for February and March.
Think of a budget as a game. You will have a certain amount of money to use for one month, and you can use it any way you wish, but you can’t go over. Create a reasonable expense budget starting with January. The goal is to spend less than the year before so you can turn more profit for the month. Sticking to a budget is also going to give you a cushion of savings incase you don’t do well one month, or you have an emergency expense.
Now that you have goals, a budget, and some extra motivation provided by coffee, it’s time to make a plan. All the steps listed above can be done using TruckLogics. Every expense, income transaction, revenue, and even your mileage is going to be tracked for you so you can simply click a button and have a report. A dispatch history can be generated for each month so you can see which lanes were more profitable and so much more. The possibilities are endless with TruckLogics. Never waste time and never stop moving forward.
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For more information on preparing for the new year, check out more of our blogs:
Business Management Breakdown | End of Year To-do List
The Competitive Edge | Knowing Your Expenses
Business Management Breakdown | Revenue & Profit Per Mile