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 to 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?
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.
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.