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A spreadsheet is essential. OOIDA has a cost per mile spreadsheet already setup and ready for download. Most modern spreadsheets allow for multiple layers. For example in my own personal spreadsheet that I made up.

The main sheet takes numbers from sheets that I assigned by month. I have all the totals split by per day and per mile. I update a particular month and the numbers are transferred to the main sheet and become year to date numbers. Broken down by month, per day and per mile and averages for everything. I can tell at a glance how I’m doing this year, what month was the slowest or best. How many gallons I bought in a month, mpg, cost per mile, cost per day, totals for the month and year to date. But I still feel broke!

I also use Microsoft Money Standard and use it for all my bank and credit card accounts. I also set up an account for the truck that I balance from the settlement statements I get from my company. Until I get a statement from the company, my numbers are just an estimate of what I’m getting in and spending on fuel. After I receive the statement I balance it against what I have just like a checkbook to make sure they didn’t miss anything. Quicken would work just as well. I have several trucking specific catagories in Money that I keep track of the truck expenses. As long as you use something to keep track of you expenses. For taxes and knowing where you money is going is essential.

There are several truck specific programs available like Hammerlane, Prophesy and Promiles. I tried several and most were more than I needed. My company takes care of fuel tax filing so I didn’t need those parts and I prefer to keep track of my expenses in Money where I can track credit card, bank and cash. And it interfaces easily with most online banking. Money was a little more flexible then trying to make the truck specific programs work to reconcile my particular settlement statement that I get. All of the programs have downloadable trial versions you can download and try before you buy, which I definitely recommend you doing before you buy anything.

That’s what works for me and my situation. Your situation is different, but you’ve got to have something to keep track of things and a computer makes things easier. I still keep receipts, but they are in one big pile. But I can find anything I’ve done or money I’ve spent much easier on the computer even if the paper receipts were filed in some kind of order. Plus using the totals, averages, costs per mile and everything else make that alone worth the price of a computer. No matter what you use, make sure it’s something that you will use. The most expensive computer in the world won’t input the information for you.

Originally posted 2008-05-25 08:35:21.