How Fleet Owners Improve Money Management
Money, money, money. It’s the only way to keep your business and fleet running. The trucking industry is no piece of cake, and unfortunately a lot of the people who try to break into it fail. Sometimes the difference in making it or breaking comes down to how you or your fleet manager manages money. That’s why TruckLogics is here to help with a few innovative features that simplify money management.
TruckLogics is the ultimate trucking management software, designed for fleet managers and owner-operators to save time and simplify managing every aspect of their trucking business. There are tons of great features for invoicing, trip routing, maintenance plans, and more.
Money Management With TruckLogics
A big part of money management involves maintaining a positive cash flow by invoicing quickly. That’s why TruckLogics has made it incredibly simple to create custom invoices to suit your needs. The invoices are based on your load details and settings, plus TruckLogics figures your calculations and auto-fills most fields for you.
You can even add factoring companies and apply their rates. You will also have invoice reminders to remind you when it’s time to collect payment and can post the payment in TruckLogics to update your records. Simply log into your account at any time to see if an invoice needs to be paid, or has been paid at any time.
When it comes to bills or expenses often times there are too many! However, TruckLogics can help you keep track of them all. You and your drivers can upload an expense at any time with the TruckLogics mobile app.
For example, every time fuel is purchased details such as the type, cost, and quantity can be recorded. A photo of the receipt can be taken with the TruckLogics app and stored for your records.
Entering the same expense over and over again can be a little frustrating, that’s why you can enter recurring expenses with TruckLogics. To save time and to make sure that you never forget about an expense create a recurring expense.
As a result, the expense will automatically be calculated for your reports on a monthly basis. These expenses could range from a monthly truck payment to a monthly software subscription.
You know what could make a trucking business go under pretty quickly? Not paying the drivers. That’s why you can instantly handle Driver Settlements with TruckLogics. You can elect to pay your drivers per mile, load per mile, a percentage of the revenue, or manually and the amount will automatically be calculated for you.
Details such as fuel surcharge fees, accessorial fees, reimbursements, and deductions will also automatically be added to the balance for you.
With all of your finances recorded you can see how your business is doing with the ability to run a variety of reports. You can break down your cost per mile and revenue per mile on trips, and you can run a profit and loss report for any time period to see if you broke even or did better or worse.
The fuel tax report keeps up with your IFTA totals for your return, the year-end tax report will accurately reflect your totals for your tax returns, and the driver payment report will keep a detailed record of your payments to ensure accuracy and to resolve any possible payment discrepancies.
Start Better Managing Today
Sign up for your free 15-day trial with TruckLogics today to see how the money managing features can help you track all of your finances to see where your money is coming in and going out. You’ll also have access to features for compliance records, a trip document library, ProMiles, and more!
