Monday, 31 August 2015

IRS Form 2290 Deadline | File Today & Avoid IRS Late Penalties

Today is the deadline to file your IRS Form 2290. Our e-filing department, ExpressTruckTax.com, is the fastest and easiest way to get your Stamped Schedule 1 from any location. The entire e-filing process is super simple and only takes a few minutes. The ExpressTruckTax team is available to answer any questions you have about e-filing your Form 2290.

Steps to e-file Form 2290 with ExpressTruckTax.com


Step 1. Sign in to your account. If you don't have an account with ExpressTruckTax.com, you can easily create one by entering your email in the big box and get started.

Step 2. Select Start New Return and choose Form 2290

Step 3. Enter required information and transmit to the IRS.



How to E-file on the Road


ExpressTruckTax Mobile App
There's an app for everything else, so why not have one to e-file your Form 2290. Download the ExpressTruckTax app for any Android or Apple device. 

ExpressTruckTax Mobile Site
Apps aren't for everyone, so if you need to e-file on the road head over to the ExpressTruckTax Mobile Site



Review Your Return Before Transmitting


Before you transmit your return, make sure you are filing for the 2015-2016 tax year. Check to see you selected the correct First Used Month (for the tax year). Review your payment information for the IRS. Once everything is good to go, then transmit your return. You will receive a copy of your Stamped Schedule 1 via email and you will always have a saved copy in your ExpressTruckTax.com account. 

If you have any questions about e-filing your Form 2290 with the IRS, contact the ExpressTruckTax team via phone: 704-234-6005 or email: support@expresstrucktax.com
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Thursday, 27 August 2015

Manage Your Trucking Business Better with TruckLogics' Accounting Features

To keep your engine running smoothly there are a lot of parts that have to be maintained and checked for wear so your tires don’t stop turning. Your business is the same way. There are a lot of moving parts that need to be tracked and managed so you can keep the profit rolling in. Thank goodness TruckLogics can handle the intricate managing of your business for you so you can focus on your bottom line.

The Moving Parts

All the moving parts that support your business need to be tracked and managed. Orders, dispatches, expenses, equipment, maintenance, repairs, invoices, payments, IFTA, renewals, miles, fees and more need to be meticulously tracked. It just comes with the territory of being a business owner. TruckLogics can manage it all for you.

  • Order Charges - When you create an order (or dispatch if you know who is going to haul the load) you are able to enter order charges/fees one time and they will auto-fill on the invoice and in your reports. You can even create custom charges/fees to include. 
  • Invoices - The payment information you entered in your order/dispatch will auto-fill on your billing invoice. Set reminders will update you on when the payment is due so you're not left wondering when you will get paid. Every invoice you email is documented in your Emailed Invoices list so you know exactly when an invoice has been sent and can easily keep track of when payments are due. 
  • Expenses - Tracking expenses is one of the most tedious tasks as a business owner. In trucking, there are so many different expenses it will make your head spin. You have fuel, maintenance, tires, permits, tolls, settlements, insurance, payments, food, lodging, and the list could go on forever. With TruckLogics, you only have to enter your expense information one time and the program keeps track of it for you. You can quickly pull up a report of all your expenses for any date range or filter them for a particular truck. 
  • Maintenance - Regular maintenance on your truck is key in preventing costly repairs. TruckLogics allows you to schedule your maintenance, assign mechanics, and track the maintenance expenses. This is a great tool to use in comparing mechanics and maintenance cost vs. load productivity for your trucks. 

Review. Understand. Improve

You entered in all the information in your orders/dispatches and have been sending out invoices and receiving payments. Now you want to know where your business stands. With TruckLogics, you can review reports that list your miles, income, expenses, revenue, and more. You will be able to easily understand where your money is going and pinpoint where you can make improvements. Income and expense reports are crucial in understanding and improving your business.

  • Income Reports - TruckLogics provides you with a breakdown of your income that can be specified to miles, customer, leased income, fuel surcharge, and more. You can take it one step further and breakdown your income by date range, or more importantly by truck. 
  • Expense Reports - Expense reports are going to tell you a lot about where your money is going. TruckLogics clearly lists out all your expenses that can be filtered by date and/or truck. You can see where you can save money and if a certain truck is incurring a great number of expenses than another, you will be able to determine why and resolve the issue. 
  • Profit & Loss Report - These reports list out your miles,income, expenses, and revenue for a set date range or for a specific truck. TruckLogics breaks down these numbers to provide you with your cost per mile and revenue percentage. This report is great to quickly see where your business stands to determine if you need to negotiate your rates, plan a new route, or re-strategize how you choose your loads. 


This is only a glimpse into how TruckLogics can help you better manage all the moving parts of your business. The first step to see what all TruckLogics can do for you is to sign up for our free 15 day trial. The last step is to contact the TruckLogics crew so we can schedule a personal demo of the program so you can see it in action. We are here to answer any questions you have about TruckLogics, so give a call at 704-234-6946 or send us an email at support@trucklogics.com.

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Friday, 21 August 2015

Trucker Health | Paleo Diet & Meal Planning

The TruckLogics crew has been testing out some meal plans and recipes that would work for a trucker. Diet fads come and go and not many of them are adaptable to a trucker's lifestyle. If anything needs to be counted, measured, or weighed out it's not going to work. Let's be real. Truckers need a meal plan that doesn't involve anything extra other than picking out what they want to eat. What we have found that works is a Paleo Diet.

Eating Paleo is simple and it's not a fru-fru diet. It's a man's diet, well technically it's a caveman's diet. Any trucker can follow a Paleo meal plan. It's simple and that's why we love it so much.

What is Paleo?

Paleo is a diet based on the types of food consumed by early humans. This type of diet consists mainly of meat, fish, vegetables, fruits, nuts and seeds. It excludes dairy, grain products, and processed food.

Why is it Perfect for Truckers?

Every time you see a health article published in any trucking magazine or online site, what does it say? Usually something to the tune of truckers need more protein, fruits, and vegetables. That is exactly what the Paleo Diet is. What makes it even more perfect for truckers is that you don't have to weigh, measure, or count calories/carbs/fats. The big selling point for this type of diet is that you can still eat bacon, but it needs to be nitrate-free. Most of your meats, sides and snacks can be prepped before you head out on the road, or you can do it in the cab of your truck if you have the right equipment to cook.

The nutrition you would be consuming eating Paleo is amazing. You will get tons of vitamins and minerals from the food and your body will actually cleanse itself as long as you drink enough water. You will feel better, be more focused, and notice a difference pretty quickly. You will even sleep better. If you are starting any type of lifestyle change, it is helps to start by changing your diet first and slowly working in the exercise. You will want to exercise more when you're eating right and your body will recover a lot easier.

How Do You Start Eating Paleo?

Planning is going to be key when you're a trucker and wanting to try a new meal plan. You want to aim for three meals a day (breakfast, lunch, dinner) and two snacks.

egg muffins


Breakfast
Your breakfast meals need to be quick, easy, and portable. Misty, aTruckLogics crew member and podcast host, loves to make egg muffins. She will make about six on Sunday so she can have two each morning for a few days. They are filled with protein to get started in the morning and aren't messy to eat. Misty makes her egg muffins by placing two slices of turkey breast in a muffin mold. Then, she pours in egg whites to fill the mold and sprinkles in some chopped red/green bell peppers. Bake at 350 for 20-25 minutes.





Lunch
Lunches can be kept really simple. Some veggies and a protein of your choice like steak/chicken/fish/seafood. Bryan, who has been a TruckLogics crew member since the beginning of time, really likes a simple salad for lunch. His 'Merica Salad was his go-to when we tested the Paleo Diet. It is made with spinach, pecans, blueberries, strawberries, and chicken with an olive oil and balsamic vinegar dressing. Spinach is a great base for any salad and you can build it from there and create anything your little heart desires.

Dinner
When it comes to dinner, we usually like our meals to have a bit more gusto. Michelle, TruckLogics crew member and avid steak n' potato enthusiast, gladly accepted the Paleo dinner challenge. You're not supposed to have potatoes when eating Paleo, but you can have sweet potatoes. So Michelle grilled up some grass-fed steak and roasted a cubed sweet potato with a few jalapenos. Then, she mashed the sweet potato, jalapenos, and a little almond milk together and put some chopped green onions on top. This meal will make you believe in Paleo! When you can enjoy a simple meal like steak and mashed jalapeno sweet potatoes, you know you're living the dream. This dinner can be easily prepped before you head out on the road so you can enjoy it in the comfort of your cab.

Snacks
bacon wrapped figs
A great way to keep your blood sugar stable and to keep from overeating later in the evening is to have a few snacks during the day. Usually one between breakfast and lunch and another between lunch and dinner. Kay, TruckLogics crew member and honorable Queen of Snacks, was given the task of figuring out a few easy paleo snacks. A lot of what she came up with included bacon or bison jerky and that's perfectly ok. She did a great fruit cup with almonds for snack #1 and bison jerky with carrots for snack #2. When it came to bacon, she wanted to try something a little out of her comfort zone. So she made bacon wrapped figs. They were amazing! You could easily pre-make a big batch of these to take on the road and they will last you a good while. Just try not to eat them all at one time.

With a Little Research, Getting Healthy is Easy

 Millions of diets are advertised saying they work for a busy lifestyle, but Paleo is one of the most trucker-friendly diets available. If you want to give it try, do a little research on it and plan out a few days worth of meals. With a little bit of prep, you will be able to save yourself a lot of money by not having to buy meals on the road.

Our Latest Podcast: #26 Web-based Tech & Eating Like A Cave Man





Check Out TruckLogics
TruckLogics is a complete business-management program for your trucking business. Give it a test drive with our free 15 day trial. If you have any questions or would like to schedule a personal demo, contact the TruckLogics crew via phone: 704-234-6946 or email: support@trucklogics.com.

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Tuesday, 18 August 2015

TruckLogics | Advantages of Using A Web-based Business Management Program

The TruckLogics crew has been going over some great information in the Business Management Breakdown series to show how to get specific figures and what they mean. But we haven't really tackled the big topic of using web-based technology to manage your business. Well you know what? That's exactly what we are discussing today. We’ve got a lot to cover, and most of our attention spans aren't that long, so let's get started.

What does web-based mean?

The simplest explanation is also the best: web-based means that it is based on the web. Traditional software has a lot of disadvantages like installation, can only be used on one computer, and is not accessible from any location. Another big drawback is the industry is constantly changing and traditional software can not keep up.

Now when a program is web-based, you don't have to download anything, make any updates on your end, it is accessible from on any computer and from any location, and you have the added benefit of amazing customer service. Well, we can't speak for all web-based programs, but we know TruckLogics has the best customer support crew. Let’s take a closer look at a few of points we just covered.
  • You don't have to download anything. One of the best features of a web-based program, like TruckLogics, is that you don't have to download anything onto your computer. There is nothing extra you have to purchase or install to use the program.
  • You don't have to worry about updating the program. With software that you have to install yourself, you also get the joy of updating it on your own. It's a hassle and a pain in the you-know-what to do. When you use TruckLogics, we handle all the technical maintenance. And when we do make an update, we make sure you know about it. Most of the time we update the program based on the feedback we hear from our users. In the trucking industry, there are a lot of special little things owner-operators and fleet managers need to manage their business better and we want to make sure we have it all. 
  • Accessibility. Any program you have to install can usually only be installed one time and only on one computer. For anyone in the trucking industry, that's not going to work. TruckLogics, as well as any other web-based program, doesn't have to be installed. You can access your TruckLogics account on any computer and from any location. TruckLogics is unique in that we offer a mobile app where you can view your dispatches, check your location on a map, record expenses (and capture receipts), and more. It’s really handy when you’re on the road. 
  • Customer service. As the saying goes, "good help is hard to find," and that is true in the tech industry just like anywhere else. Any program that you have had to install on your computer, customer support is very limited. They can't see what information you have entered to pinpoint the problem. Web-based technology allows for a complete customer support experience. When you contact the TruckLogics crew, we can see exactly what you see so we can help you with any issue. We can also personally walk you through the program and answer any questions you have.


Is web-based technology secure?

This is really the most frequently asked question when it comes to web-based technology. Truth is it’s actually safer than traditional software. If you have installed a program on your laptop and something happens to it then that’s all she wrote. Not many computers are backed up properly or updated as frequently as they should and this creates a security problem. Web-based technology is always updated, backed up daily, and your information is stored on a secure server. I mean Fort-Knox-lock-down secure. If anything ever happens to your computer/laptop none of your information is lost - ever. While we are on the topic of security, why don't we discuss passwords real quick.

  • Password etiquette tells us that the more unique and complex your password is, the harder it is to crack. What makes a password unique and complex is that it includes numbers, symbols, capital and lowercase letters, and isn't a dictionary word(s). Children and dog names will be way to easy for someone to crack. Pretend you’re Secret Agent Man and come up with something not even the CIA could figure out. Then try not to forget it. 

Web-based technology is really more efficient than traditional software. It's much more customized, accessible, and provides a higher standard of customer support. TruckLogics is an amazing example of how web-based technology benefits the trucking industry. The whole world is functioning online because it’s more efficient. As a truck driver, TruckLogics will be your favorite tools because it’s one program that does a million different things. You will never be left behind with TruckLogics.


If you want to learn more about TruckLogics and how it works, contact the TL crew. We would love to hear from you and set you up with a free 15 day trial and walk you through the program. Contact us today via phone: 704-234-6496 or email: support@trucklogics.com.

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Thursday, 13 August 2015

Truck Maintenance | Plan, Schedule, Track, & Repeat

Increase profit by reducing cost - a goal every business owner wants to achieve. The thing that no one ever tells you is that reducing cost is way easier said than done. It sounds simple, but it's not clear where you can reduce cost if you're not tracking your expenses properly.

In the trucking industry, maintenance is a huge expense for owner-operators. It is also one area where cost can be reduced if continually planned, scheduled, and tracked . And we're not talking reducing a few bucks, with proper maintenance management, you can keep thousands of dollars from leaving your pocket. TruckLogics has a complete maintenance management feature and we're going to discuss that in just a second, but let's go over a few things first.


Cost of Trucking Per Mile
Trucking Infographics by TruckersReport

How do you reduce cost by managing maintenance?

You would think the answer would be pretty cut and dry, but there really is a bit more to it. You deal with truck maintenance on a monthly basis and that even includes cleaning. When you're planning out your maintenance and tracking everything you see where your money is going. You can look for areas where you can cut cost, negotiate different prices (never hurts to try), and know what months you spend the most on maintenance. If you take a look at your maintenance expenses for the past three months, you will be able to see where you can cut cost and make more money the next quarter. Examine your maintenance history and you will be able to clearly see where you can cut cost. 



Tires are one maintenance expense to really track

"an average tire can cost over $250 and annual tire expenses can exceed $4,000" -TruckersReport

Calculating how much you spend on tires probably raises the blood pressure just a touch. It's a crazy number, but you can bring the amount down. Just like we were explaining a second ago, you need to examine your maintenance history, and look at how much you spend on tires each month and the time you were purchasing them. You will most likely see a pattern and you can actually determine if you need to try different tires, change up routes, change the rotation schedule, or anything else that would cut cost. Tires are going to be one of the main expenses you need to keep a good control on, and you can easily do that with TruckLogics. Every maintenance expense can be planned, scheduled, and tracked in TruckLogics with reports to help you examine the data. 



Using TruckLogics to Manage Your Maintenance


Plan - Every regular maintenance expense needs to be planned out ahead of time so you know what the cost will be. From this information you will be able to plan your loads better and pick loads that will bring in enough revenue to cover expenses and generate more cash flow. 

Schedule - You can create a custom maintenance schedule based on your truck, or fleet's, requirements. When scheduling your maintenance you want to really take into account where you will be and how long it takes to perform the maintenance that needs to be done. With TruckLogics, you can schedule maintenance based on mileage or time period. This information is going to help you reduce cost and plan out your loads. 

Track - TruckLogics will track all your expenses for you. All you do is input the information and TruckLogics does the rest. You can run reports for any date range and for any truck you need to see the maintenance records for. These reports are great to pinpoint which trucks or what expenses are costing you the most so you can make changes and increase your profits. 



Test Drive TruckLogics with a 15 Day Free Trial

Zen and the Art of Expense Tracking


Find out more management tips with the TruckLogics crew on our Business Management Breakdown series. The lastest blog - Zen and the Art of Expense Tracking - goes over some important topics in a creative way. 

We have a podcast too! Episode 25. Expense Tracking & The I-77 Toll Road Debate updates you on important news and events with a good health and wellness discussion at the end. 



We Want To Hear from You

Have questions? Great! The TruckLogics crew would love to hear from you and answer any questions you may have. You can even schedule a personal one-on-one demo with us to see TruckLogics in action. Contact the TruckLogics crew via phone: 704-234-6946 or email: support@trucklogics.com

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Wednesday, 12 August 2015

History Has Been Made! Our Parent Company Has Made the INC 5000

Truly humble moments in a company's history demand more than a simple congratulations. They deserve a pause in time to be celebrated and enjoyed. 

Our parent company, SPAN Enterprises, has received a great honor by ranking 1150 on the Inc. 5000 list of fastest-growing privately-held companies of 2015, #11 in the Charlotte Metro Area, and #1 in South Carolina for fastest-growing software company in the entire state. The word small has been used in the past to describe SPAN Enterprises, but now small is only used to describe the beautiful town of Rock Hill, SC, that has been the setting in which we’ve achieved big dreams.

A simple idea was sparked inside the walls of SPAN Enterprises that grew into the development and launch of TruckLogics in 2014. Since its introduction, TruckLogics has become the premier business-management program for the trucking industry.

Our nation’s owner-operators have a tough job to do everyday and managing their business shouldn’t add stress to an already stressful job. TruckLogics was specifically designed to manage every aspect of a trucking business all within in a single program. The main goal of TruckLogics is to simply make life easier for truckers and fleet managers. It is the perfect goal because it can never truly be reached. It causes us to continually speak with users and attain their feedback to learn how we can improve their business management practices. We are never satisfied with the current state of things and always want know what else we can do to make managing a trucking business easier.

TruckLogics has set itself apart from other programs by not only excelling in providing cost-efficient business management, but also by providing un-matched, USA-based customer support. There really is nothing better than being able to speak to a real person that isn’t reading from a script. We take the time to get to know who uses our program, and that is a lost art in customer support. When you call the TruckLogics crew, it’s like walking into a place where everyone knows your name, and you just know that everything is going to be alright.

Who knew so much could come from a small town in South Carolina? Rock Hill is more than just a town to us, it is home. Our community has supported the growth and expansion of SPAN Enterprises since the beginning, and we couldn’t imagine being anywhere else to achieve endless possibilities.

There could never be enough words to show our appreciation to the Trucking Nation and the town of Rock Hill, SC. The words, thank you, might not look like a lot, but they are full of the gratefulness and admiration of every employee at SPAN Enterprises. We share this amazing achievement with you, because without you it would never have happened.

Big ideas do grow in small towns, and SPAN Enterprises will continue to grow with our hometown and with all of you!

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Tuesday, 11 August 2015

Business Management Breakdown: Zen and the Art of Expense Tracking

Paying expenses isn't necessarily the best way to reduce stress. Just thinking about money leaving your bank account probably causes your heart to start racing and a touch of anxiety hits you. Take a deep breath, find a happy place in your mind, and stay calm. We are going to introduce a little Zen into your business management in the form of TruckLogics' Expense Tracking feature.


Acceptance

Expenses are a part of business; that you accept. It's the you-gotta-be-kidding-me expenses that can send your stress levels through the roof. Emergency expenses are going to happen because that is the nature of the job. By creating an emergency fund, your ability to stay calm will greatly increase and keep your mind clear for the next lesson.

Reason

Knowing why you need to meticulously track your expenses will unblock any reasoning that keeps you from doing it. Ask yourself this question - why do I need to meticulously track my expenses? The answer is not complicated or deserving of a long explanation. It is simple. You track your expenses to properly manage your business. Ask yourself another question - what were my expenses for last month? The answer is simple, but the method to obtaining that answer may not be.

TruckLogics will quickly generate an expense report for any date range you need, or for any truck. Each expense will be listed, and you can see exactly where your money is going. You now know the complicated idea of expense tracking is actually a simple task with TruckLogics. Having control over your expenses is the next and final lesson.

Control

You don't have control over many things in this world. That is an acceptance we all must face, but you can control your business. Control must be applied to all your expenses. You can achieve this by tracking, scheduling, and reviewing your expenses. TruckLogics provides the means to do all three and more. Reviewing your expenses will be of extreme value to you when maintaining control of your business. You can see what expenses are unnecessary, essential, emergency, and so on.

At tax time, your mastery skills of tracking your expenses will allow you to find peace in tax filing. Almost all expenses are tax deductible as an owner-operator and because you maintained control over your expenses, your tax bill will be greatly reduced. The level of control TruckLogics will provide you for your expenses will transcend to your entire business.

Find Zen in Business Management

TruckLogics isn't just a program to help you manage your business. It is freedom from spreadsheets, piles of receipts, and the last minute cram to calculate everything when an emergency happens. Calm can be found in TruckLogics, and the Expense Tracking feature will maintain Zen in your business management.


Experience TruckLogics with a free 15 day trial.

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

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Thursday, 6 August 2015

August Trucking News

Big stuff is happening in August and you need to know about it! This month is a mixed bag of regulation updates/reforms, truck shows, and IRS deadlines. The TruckLogics crew doesn't want you miss out on ways to make a change, so let's start with the good stuff...

#fixFMCSA

The FMCSA has caused a great deal of headache for the transportation industry including, drivers, carriers, and law enforcement. Senator Deb Fischer, R-Neb., realized something needed to be done and introduced a bill to the Senate to start reforming the FMCSA. It is greatly needed and the reforms presented in the bill will update and totally take care of the lack of follow through the FMCSA has been known for. OOIDA has initiated the #FixFMCSA campaign on FightingForTruckers.com where you can communicate support for the reforming of the FMCSA.

IRS Form 2290 Deadline

The IRS Form 2290 Heavy Vehicle Use Tax is due by the end of August. If you haven't filed yet, our partner, ExpressTruckTax.com, is the perfect solution to e-file your 2290. You will need an EIN to e-file and if you haven't received one yet, you need to get one ASAP. It takes a few a days for a brand new EIN to register in the IRS e-file system, so this is not something you want to put off until the last minute.

You do have the option to e-file your 2290 from any location with the ExpressTruckTax App that is available for all Android and Apple devices.

If you have any questions about how to e-file your 2290 with ExpressTruckTax.com, contact their amazing support team via phone: 704-234-6005 or email: support@expresstrucktax.com.


Great American Trucking Show

Ok, now it's time for some fun news. GATS is almost here and the TruckLogics crew is very excited to see who will win the 2015 National Championship for Overdrive's Pride & Polish 25th Anniversary. The trucks are always spectacular and the attention to detail is amazing. There is more going on than just the truck shows, GATS has tons of events for you to enjoy. They are providing free truck parking on fair grounds, so be sure to stop on by and check it out. For more information, head over to www.truckshow.com .

Coming in September

There are a few great truck shows coming up in September, but there is also Brake Check 2015. Right now is the perfect time to make sure your truck is ready for an inspection. Those fines aren't cheap and the time it keeps you off the road could cost even more. Brake Check will be going down during Brake Safety Week from Sept 6-12. Mark your calendars and set a reminder in your TruckLogics account so you aren't caught off guard.

Reforms, regulations, and deadlines seem to always be the big news stories in the trucking industry. There is a lot on going on, so it is important to know what's happening. Be sure to show your support for the #FixFMCSA initiative and don't miss the 2290 Deadline.

If reforming how you manage your business is also on your mind, check out TruckLogics with our free 15 day trial. You can schedule a personal demo with the TruckLogics crew and we would love to answer any questions you may have. Contact us via phone: 704-234-6946 or email: support@trucklogics.com.


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Tuesday, 4 August 2015

Factoring vs. Quick Pay & Then There's Fuel Advances

Trucklogics recently integrated brand new features, and we wanted to take a detour from our Business Management Series and head over to the magical world of factoring vs. quick pay. We will stop and take a look at fuel advances near the end to capture those special memories of our trip together. And don't worry, the cheesiness will be left in this introduction. Let's get to it!

Freight Factoring vs. Quick Pay

Freight factoring, as most of you know, is an option to get paid for your invoices now, rather than later. Most factoring companies provide payment within 24-48 hours, but it does come at a price. The percentage of what the factoring company gets to take off the top is what you really need to pay close attention to. Percentage rates vary among factoring companies, so really the best way to choose one is to talk to someone that has done factoring and get their take on it.

Quick Pay is an option provided by freight brokers and usually offers comparable rates to factoring companies. If you work mainly with a broker, then it can be more convenient to use this option to receive payment faster. Again, pay attention to the percentages that they take off the top, and remember the faster you want payment, the higher the percentage.

The differences start to become apparent in the additional fees and services. Also, a big difference can be seen in  how you receive your payment - via card, check, or direct deposit. With quick pay, you might not have as many additional fees as you would if you used a factoring company. But factoring companies do offer more additional services such as fuel advances and special discounts.

From countless hours of research and a deep fall down the quick pay/factoring rabbit hole, it's difficult to determine if one is actually better than the other. Both options have their pros and cons and neither is a 'loan' so you never have to pay anything back later. It really comes down to what option is available to you and how much money you're willing to part with.

How Fuel Advances Comes in to Play

Just like your factoring and quick pay options, fuel advances should also be used very carefully. Many factoring companies provide a fuel advance as an add-on to cover fuel costs and other expenses related to a haul. If your funds are a little low, this could be a good option to get you through for a very short amount of time. Fuel advances are expensive because they are processed quickly and they are a bit risky for the company providing them. If something happens to the load the company could lose money. If you are thinking of using a fuel advance, do the research or talk to a buddy that has done it before. Going blind into all this stuff isn't the best idea. There are a lot of hidden fees that could take you by surprise. The more you know about the percentages and additional fees associated with fuel advances, the better off you'll be able to plan how to make up for the financial loss.

TruckLogics' Factoring Company Invoice Feature

TruckLogics has tons of great features to accurately manage your finances so the options above aren't your only choices. But, things happen in the trucking business that make factoring and quick pay shining beacons of light to help you out of a jam. TruckLogics integrated a factoring feature for invoices so you can be a financial tracking master. To properly show it off, we made a video! Gotta love technology, right?


We Want to Hear From You
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 or email: support@trucklogics.com.

Join our What’s New with TruckLogics Webinar on August 6th at 4 PM EDT for a demo of our latest features followed by a Q&A with the TL Crew!

Experience TruckLogics Today with a 15 Day Free Trial

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