Thursday, 30 July 2015

We've Been Hard at Work | See What's New in TruckLogics

You asked for them, we listened, and now TruckLogics has brand new features! Let's not waste time with a long, drawn out introduction. The feature presentation will now begin.

What's New 


Factoring Company Invoice

Oh yes, we heard y'all on this one. There is now a factoring company section included in the  address book, and a factoring rate can be set when entering the contact information. Don't worry, that's not all we did. When creating an invoice, you can enter factoring information and track the received payment from the factoring company.


Team Driver Option

We created an entirely new Team Driver option for your dispatches. Each driver's miles can be entered on the trip sheet, and payments are neatly separated out for your driver settlements.

Expense Cloning

If you have repeat expenses from month to month, why waste time re-entering the information over and over again. Now you can simply clone the expense and all the information is auto-generated for you.


But Wait, There's More!

New driver reports, truck log feature, and trip sheet enhancements - oh my. There's only one way to see all our new features in action.

Join us August 6th at 4 PM EDT for our What's New with TruckLogics Webinar. The TruckLogics crew will personally demonstrate all our latest updates and answer any questions you may have.


Trucking Nation Podcast
We just posted TNP 24 - Breaking It Down | Revenue & Profit Per Mile. Give it a listen and follow our new Business Management Breakdown series


We Would Love to Hear From You
Experience TruckLogics today with a 15 day free trial. If you have any questions about TruckLogics or would like to schedule a personal demo, give us a call. You can contact the TruckLogics crew via phone: 704-234-6946 and email: support@trucklogics.com.

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Tuesday, 28 July 2015

Business Management Breakdown | Revenue & Profit Per Mile

The TruckLogics crew is back with the next installment of the Business Management Breakdown series. We're going to build on last week's blog about figuring your cost per mile by discussing revenue and profit per mile. All these numbers combined are going to give you a clear view of your company's financial position. Let's dive right in, shall we?

Revenue vs. Profit
Before we get really into it, it's important to have a grasp on the difference between revenue vs. profit.

  • Revenue is the income received from business activities.
  • Profit is the net income of the business. This is your revenue minus expenses.
Now that the main terms are defined, we can get into the good stuff. 

What Revenue Per Mile Tells You
Revenue per mile is going to tell you how much income your company is generating. Your revenue per mile is also going to tie into how you identify profitable loads. You will need to know your revenue per mile and your cost per mile to determine your profit per mile, which we get into in the next section. For our purposes, we are going to figure this number on a monthly basis. The formula for getting this number is to divide your monthly revenue by the miles driven. Here is an example of how to figure your revenue per mile for the month of June:
                                                                
                                                            Revenue Per Mile =   Monthly Revenue /  Miles Driven

                                             Monthly Revenue                Miles Driven                   Revenue Per Mile
                                                  $16,500                              11,000                                  $1.50

What Profit Per Mile Tells You
Profit per mile is going to tell you when you need to adjust your rates to keep your business profitable because it is calculated from your revenue and cost per mile. 
  • We went over cost per mile and broke down variable and fixed expenses in the previous Figuring Cost Per Mile blog. 
For example, if you calculated your profit per mile for the month of April and you ended up operating at a loss due to emergency maintenance on your truck, then you will know you need to charge more in May to make up for that loss. Let's do some visual calculations for a better perspective. 

Profit Per Mile = Revenue Per Mile - Cost Per Mile
                          June
 Revenue Per Mile = $1.50           Cost Per Mile = $1.076
$1.50 - $1.076 = $0.42
Profit Per Mile = $0.42

Once you have determined your profit per mile over several months, you will clearly see when you need to raise your rates and better negotiate with shippers and brokers. If you are contracted, your profit per mile will assit you in negotiating your rates as well. Rates are always negotiable. It's just how you spin it. 

Profit Margin
A profit margin measures how much profit your business is keeping out of every dollar. 
When you have your revenue per mile and your profit per mile you can figure your profit margin percentage for a month. To get you monthly profit margin, you would divide your profit per mile by your revenue per mile. 
                                                                 
                                                              Profit Margin =   Profit Per Mile / Revenue Per Mile
                         June
                                                        $0.42 / $1.50 = .28 = 28% profit margin for the month of June

Bringing the Information Full Circle
One of the main reasons businesses fail in the trucking industry is due to poor financial tracking. You already have all this information, it's just tracking it can be a hassle if you're on the road all the time. Knowing and understanding your cost, revenue, and profit per mile is crucial for a successful business. 

TruckLogics can keep track of all this information for you, and you can create reports for different date ranges to see your financial position. You don't have to deal with going through paper receipts and invoices that have been building up for who knows how long. TruckLogics will keep all that information organized and at your fingertips. 

When you know what it takes to become profitable, there's no limit to your success. Give TruckLogics a try with our 15 day free trial. And be sure to contact the TruckLogics crew to set up a personal demo or ask any questions you may have. You're not in this alone, we're always here to assist you. Give us a call at 704-234-6946 or send us an email: support@trucklogics.com

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Friday, 24 July 2015

Trucking Nation Podcast | 23. Cost Per Mile, Deadlines, and De-stress Hacks

How are you Trucking Nation? The TruckLogics crew hopes the road is treating you particularly well this week. A brand new episode of the Trucking Nation Podcast is up, and we're going a different route this time. Proper business management is really important for your trucking business, but getting all the information thrown at you at once can be overwhelming. So, the TL crew is starting a new series that breaks down business management and takes out all the confusion. Just in case you get stressed out, there are some great de-stress hacks in this episode that will help you get calm, cool, and collected. Hit Play, learn a few things, and have a good laugh.







Here's the Rundown:

Cost Per Mile

It's time to start talking business managment, and the TruckLogics crew wanted to do things a little differently. Having a lot of information presented at once is a bit overwhelming and boring. So, we are breaking it down and starting with the basics. This week we discuss cost per mile and why it is so important to know. If you want more information on actually figuring your cost per mile, check out our blog - Business Management Breakdown | Figuring Cost Per Mile.

Deadline Reminders

Why do we remind you of deadlines so much? To be honest, they are easily forgotten. Your 2nd Quarter IFTA deadline is coming up July 31st, and you don't want to miss it. You don't want your hard earned money going to IFTA late fees and penalties

Another big deadline is the Form 2290 Heavy Vehicle Use Tax due by the end of August. Our partner, ExpressTruckTax, makes e-filing your 2290 quick and easy. They even have an app where you can e-file anywhere at anytime. Check out their blog for more information - E-file Anywhere with ExpressTruckTax. 

De-stress Hacks

The trucking industry's slogan should be - Trucking. Where Stress Happens! Being a road warrior can get stressful, and stress will wreak havoc on your body. Some tried and true hacks are counting backwards from 20, humming We Are The Champions by Queen, taking a walk, and calling a friend. 

Counting backwards is really great because it causes your brain to focus on what number comes next, and not what is stressing you out. Give it a try.

Thank you so much for listening, and next week we will have a brand new business topic to go over and some great health & wellness tips. Remember you get what you give in this world, so try to be kind and enjoy the ride. We'll talk to you soon!

Experience TruckLogics today with a 15 day free trial

If you have any questions about TruckLogics or would like to schedule a persoanl demo, we would love to hear from you. Contact the TruckLogics Support Crew via phone: 704-234-6946 or email: support@trucklogics.com
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Tuesday, 21 July 2015

Business Management Breakdown | Figuring Cost Per Mile

Are you ready to talk business? This new series has been a long time coming. Managing a trucking business can be a bit overwhelming when everything is thrown at you all at once. The TruckLogics Crew is going to help you out by breaking things down and fully explaining what knowing the information does for the progress of your business. Business management might not sound exciting, but have faith. Once you understand where your money is going, you will know how to increase profits. And don't worry, we will get to the topic of increasing your profits very soon. Before we get there, you need to know your cost per mile.

Why Knowing Your Cost Per Mile is Important?

When you know your cost per mile, you will be able to select profitable loads and know exactly how much your profit will be. There are two types of costs that factor into your cost per mile: fixed cost and variable cost. 

Fixed Cost

Fixed costs are expenses that do not change whether you're on the road, or your truck is parked in the driveway. Expenses in this category are your truck/trailer payments, insurance, renewal fees, permits, licenses, accounting services, or any cost that stays the same no matter the volume of business. When you know your fixed cost, more specifically your fixed cost per day, you will be able to decide what loads are really worth your time. 
  • You can figure your fixed cost per day by adding up all your fixed expenses for the year. Then, divide your total fixed expenses for the year by 12 to get your fixed cost per month. Once you have your fixed cost per month, divide that number by 30 and that will give your your fixed cost per day. When you know your fixed cost per day, you can decide if a load is worth waiting for and eating those expenses, or if a different load you can pick up right away is the better option. 


Variable Cost

Variable costs are expenses that directly relate to operating your truck. These types of expenses include, fuel, tires, maintenance, repair, meals, tolls, scale fees, fines, legal fees, lodging, loading/unloading fees, or any cost that varies depending on your business volume. Knowing your variable cost is really important in figuring out your cost per mile. 


Figuring Cost Per Mile

The easiest way to do this is to add up your total fixed costs and total variable costs for the year. The number you get from adding your total fixed and variable costs will be your total vehicle costs. You want to divide your total vehicle cost by the amount of miles you drove that year. The number you get will be your vehicle cost per mile. To get your cost per mile, you will simply add your driver pay per mile to your vehicle cost per mile. Let's create an example so you can actually see what I'm talking about.

  • You will see that I took the cents per mile out three decimal places. This will give you a more accurate cents per mile for your total cost of operation. 


How TruckLogics Takes it One Step Further

Cost of Operation sheets, like the one above, are great for breaking down finances to see your operational cost per mile. But this is only an annual breakdown, and it's only for one truck. What if you wanted to view a different truck, and just see what the cost per mile was for one month? Things start to get a bit more intense, right? 


With TruckLogics, you can view a Profit & Loss Report that can be set for any date range and any vehicle you have in your account. TruckLogics does all the calculations for you, so all you have to decide is for what, and when, you need a report. It just makes your life easier when you need to run financial reports. There is a great in-depth look into the Profit & Loss Report feature in last week's last blog, check it out - Profit & Loss Reports | Show Me The Money.

Experience TruckLogics today with a 15 day free trial

If you have any questions about TruckLogics or would like to schedule a personal demo, we would love to hear from you. Contact the TruckLogics Support Crew via phone: 704-234-6946 or email: support@trucklogics.com

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Friday, 17 July 2015

Trucking Nation Podcast | 22. E-file Form 2290, IFTA Deadline, & Making Your Meals Healthy

The world keeps on spinning, and I hope you're enjoying the ride. This week's Trucking Nation Podcast has some important deadline information for you and a simple way to make your meals a bit more healthy. Now, I know when someone says, "it's simple," it doesn't always pan out that way, but I promise it's easy. Hit that play button, and let's start the good vibes and happy times!











Here's the Rundown:


E-file Form 2290


It's time to file your 2290, and the best way to do it is to e-file with ExpressTruckTax.com. You can completely avoid the IRS office, and having to take time off work to get this done, by simply e-filing your 2290. You just need your Employer Identification Number (EIN), VIN, debit/credit card for the filing fee, and it helps to know the different IRS payment options to pay the actual tax before you get started. I go through each one and thoroughly explain what they are.

You can e-file your 2290 from any location with the ExpressTruckTax App; free to download for all iOS and Android devices.

2nd Quarter IFTA Deadline

It's time to file your IFTA return. You can do this in your TruckLogics account if you have it all set up, or you can head over to ExpressIFTA.com. ExpressIFTA has specific filing instructions for each state jurisdiction and if you have any questions, they have amazing customer support.


Making Your Meals Healthy

There is a great story making its way through news feeds about a trucker out of Mississippi that went vegan and lost 65 lbs. Going vegan is great, but might not be something you want to do. An easy way to make your meals healthier is to think in terms of colors. Thinking of foods in terms of colors is a lot easier than thinking of them based on nutrient value and calories. You want a lean protein (chicken, fish, turkey) and a mix of colors for your vegetables. Think greens, reds, whites, and yellows. You don't have to combine them all, but you want the majority of your plate to be colorful vegetables. And don't forget to drink water. Water is what is going to flush out all the toxins and bad stuff in your body and really help you feel better.

Thank you so much for listening. You don't know how much I appreciate it. I am changing things up for future podcasts. We're going to dive into the wonderful world of business management. It can be a bit overwhelming at first, but I'm going to break it down and simplify it for you, so you can efficiently manage your trucking business and increase profits. Sharing is caring, right? I have a lot of business savvy knowledge to share, and I know it will make your life easier.

Remember, you get what you give in this world, so be kind and enjoy the ride. I'll talk to you next week - Misty Noel.

Start your free 15 day trial of TruckLogics today! 

Schedule a personal demo of TruckLogics or simply contact the TruckLogics crew with any questions via phone: 704-234-6946 or email: support@trucklogics.com

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Tuesday, 14 July 2015

Profit & Loss Reports | Show Me The Money

Truckers drive America forward and getting straight to the point, profit is what drives every trucking business (no matter the size) to keep moving. It's not a secret that a business has to be profitable to survive, but being able view and pinpoint how to make your business more profitable isn't always clear. TruckLogics has an integrated Profit & Loss Report feature that puts your business' financial activity in a concise report. This feature allows you to detect exactly where your business is excelling, and see clearly where improvements can be made. Let's get down to the specifics, shall we?

Increase Profit

Breaking even is a standard goal, but what all business owners work to achieve is a profit. The Profit & Loss Report allows you to clearly see where your business is profitable and why. Analyzing this report closely, you are able to see exactly which truck, driver, route, day, week, and even month increases your profits. You can get more specific than the list I just rattled off, but you get the point. It's important to see where your business is doing well, so you can know what's working. Then, you can move on to your Loss Report and see what improvements can be made.

Decrease Loss

Financial loss is a part of business, but it can be kept low with proper management. Knowing where loss happens is the first step. This can be a truck that needs more maintenance than others, a route that requires more fuel stops, certain days where there is more traffic, higher expenses for certain drivers, again another list that could go on forever. A Loss Report in TruckLogics will clearly show you where your finances are going. Then you can make changes accordingly to keep your expenses as low as possible.

Creating Your Profit & Loss Report

What's really cool about the Profit & Loss Report feature is that it is automatically generated from the business management information you enter day-to-day. You only have to set the dates you want to run the report for, and it instantly appears in front of your eyes. No paperwork to fill out, or endless hours staring at numbers on a spreadsheet; it's just a click and done. I mean there is the analyzing aspect of it, but still it's a lot easier than how it was done in the olden days of business management before TruckLogics.

If you are more of a visual learner, like me, check out this video that shows how easy it is to create your Profit & Loss Report.


Experience TruckLogics today with a 15 day free trial 

When it comes to managing your business, asking questions is strongly encouraged. Contact the TruckLogics team with any questions you have, or schedule your one-on-one demo of everything TruckLogics has to offer via phone: 704-234-6946 or email: support@trucklogics.com

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Wednesday, 8 July 2015

Be a Pro with ProMiles & Quick Trip Sheets from TruckLogics

Being on the road comes with its own unique set of challenges when it comes to making sure that  you’re being efficient with your time as well as getting your paperwork out of the way.

There is always a deadline to keep, it might seem easier to put off recordkeeping when you have a break. Statistically speaking, this is a terrible idea.

As much of a pain as it may be to take time to dot your “I”s and cross your “T”s, most people can only remember four items on a list after 20 to 30 seconds. (You can thank humanity’s limited capacity for storing short-term memory for that itty-bitty number.)

After those 20 to 30 seconds, you’re losing gigantic portions of memory and the possibility of inaccuracies goes up exponentially.

When you’re a trucker needing to remember a dozen or more things at one time, you can see how quickly you’ll get yourself into trouble or cause yourself to lose money with inaccuracies. Luckily, TruckLogics has your back when it comes to keeping your life in order.


Use the Trip Sheets. Love the Trip Sheets.


Trip sheets are one of the many ways that TruckLogics helps keep your life on track while minimizing the amount of time you need to spend keeping your records straight. It might be a difficult habit to start but, once you do, you’ll be happy you did. Filling out trip sheets is a fairly easy process.

  1. Log in to your TruckLogics account and hit the Dispatches button.


2. Select which dispatch you need to input data into from the generated list. 



3. A series of tabs will be above the trip summary information. Locate and then click the “Trip Sheet” tab. 














4. From there you have two options to input your data. You can either input the data manually and then calculate the empty and loaded miles, or you can hit the “Enter Trip Sheet Using ProMiles” tab and have the ProMiles’ system do it for you.

Wait—Why do I need to use Trip Sheets?


Using trip sheets cuts your inaccuracies while keeping all your data all in one convenient cloud-based location. You can’t ever lose your information and you have a whole team of experts who are willing to help you out along the way. In addition, using the trip sheets will enable you to quickly calculate quarterly IFTA taxes AND end-of-year taxes without hours of calculations and confusion.

Paired with Trip Sheets, our ProMiles integration will help you along the way toward accuracy and convenience as well. In addition to giving you the fastest route, ProMiles enables you to enter your trip sheets with a click of a button and calculates your empty miles for you. If you need to change the route ProMiles gives you, that’s easily done with the “Change Route” button.

If you need to alter a route that ProMiles gives you, add a Routing Stop to have ProMiles recalculate the route. It can be any location along your path, regardless of whether or not you actually stop, it’s just a reference point for ProMiles to work with. All you need to do after clicking the “+” sign in your “change route” tab is add the city, state, and zip-code in the space provided and let ProMiles work for you.

The only thing you’ll need to make sure of is that you enter your fuel purchases using the date that is on your fuel receipt. If you do see anything on your Trip Sheets that looks inaccurate, you can always look at your history via the “Dispatch History” button, located by going to Truck Zone and clicking “Trucks”. Next to each truck a “Dispatch History” will be located there. Make adjustments by clicking the icon and adding or editing information. As always, if you have a question, big or small, you can always email, chat, or talk to TruckLogics’ team of experts. They’re willing and able to help you.

The Bottom Line:


Using TruckLogics’ Quick Trip Sheets feature with ProMiles add-on will save you time and effort in the long run by cutting down on the amount of time you have to stop and think about the million things that are going on. Truckers trust us to be the best, so prepare for the long-haul; start using Trip Sheets with ProMiles today.

Stop calculating trucking the hard way! With a 15 day free–trial for everyone — with no credit card required— there is no reason not to try out TruckLogics and save yourself some time. Go to TruckLogics to get started.

Our 24/7 Support Team is waiting to lend you a hand for any situation along the way via email, chat, phone, or free personal demo. Give us a call at 704-234-6946 or email us at support@trucklogics.com, today!

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Thursday, 2 July 2015

It's That Time Again: 2nd Quarter IFTA Returns!


It’s that time again! IFTA returns are here for the 2nd quarter of 2015, and it seems like they’ve really
snuck up this time around. For those of you worried that it came on too fast, no worries.

TruckLogics is here to help you file as painlessly as possible well before the the July 31st deadline. In fact, you’ll have plenty of time to spare!

Hesitant to traverse the lonely—not to mention, expensive— road alone? Don’t be! The Support Crew at TruckLogics understands and sympathizes with your situation and is there to help you from start to finish.

A Different Kind of IFTA Filing


Most people are hesitant to ditch their calculators and leave paper–filing when they’re used to it, but those people don’t understand that filing with TruckLogics is easier than any other method available. TruckLogics’ IFTA feature allows you to quickly and accurately file your quarterly IFTA without all the hassle of traditional methods.

Since you’re already using TruckLogics’ great trip sheet feature, TruckLogics can pull the mileage and fuel use data from your trip sheets and use that to generate IFTA reports, or if you choose, completed IFTA returns. The only thing you have to do is print, sign, and mail! It’s just that simple.

State-specific returns aren’t a problem, either. No matter where your base jurisdiction is, TruckLogics can create a return for you. In addition, we’ll include instructions on how to complete your submissions, just in case you need them.

Tripping about Trip Sheets?


TruckLogics can create your IFTA return with your trip sheet data, just fill them in to file an accurate return. You can manually enter that information in any trip sheets you’re missing, use Google Maps, or use our preferred method, ProMiles. However you choose to input the data, make sure you aren’t missing any trip sheets before you begin.

The ProMiles add-on feature takes your TruckLogics account to the next level, opening up a ton of benefits, which include features like:
  • The most accurate address-to-address routing available for transportation professionals, making out-of-route mileage a thing of the past. Your bottom line will thank us, trust me. 
  • One-Click trip sheets that automatically sync to your ProMiles add-on and fill your mileage in per jurisdiction. All you’ll need to add are fuel purchases. 
However you choose to get the information there, don’t forget that we’re only a email, chat, or phone call away!

Filing 101


You’ve filled in your trip sheets, you’ve assembled your ducks in a nice, neat row. Ready? Set. File!
Head to the IFTA Dashboard. Select IFTA from the top menu. You’ll see the option for 2nd Quarter 2015.



Click “Start Return”


Your IFTA Truck List. Check the boxes next to the vehicles you’d like included in the IFTA return. This will pull data from the trip sheets associated with that vehicle(s). To double check the trip data associated with each vehicle, select “View Log” next to that truck.

Return Details. This is a summary of the information you’ve included in your return, including your total mileage, fuel use, and MPG for the quarter. Everything look good? Click “Next”.

IFTA Tax Due. If applicable, add any credits or refunds to your return here.


Summary. Woohoo! You’ve completed your return! If everything looks good, go forth and download your return.


Download your IFTA return in PDF. Select “Download IFTA PDF” and you’re good to go. Sign your return, prepare your payment, and then follow the attached instructions to submit it to your base jurisdiction.

Hours of calculations are done in a few minutes, leaving you to grab a nice cup of coffee with friends while everyone else who doesn’t use TruckLogics (You should tell them, seriously) suffers with the pangs of calculation cramp.

Filing your quarterly IFTA return has never been so easy. With a 15 day free–trial for everyone — with no credit card required— there is no reason not to try out TruckLogics and file your IFTA return today. Go to TruckLogics to get started.

Our 24/7 Support Team is waiting to lend you a hand for any situation along the way via email, chat, phone, or free personal demo. Give us a call at 704.234.6946 or email us at support@trucklogics.com, today! Try TruckLogics and easily file your IFTA Returns!

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