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Current version by: Aaron ,

Title:

Want to know how ScanGauge KR can display your profit per mile?

Text:

This is the best way to compare your instant profit to your similar operation as a company driver.
 
A lot of drivers ask me what number to put into ScanGauge KR when it asks for "fuel rate". The instructions mention inputing your fuel surcharge per mile or your total rate per mile on the load your currently pulling. These both work fine.
 
I found, I like to watch my true, net profit per mile, (before tax), so I can compare my operation to what I would make as a company driver.
 
Here is how to do it. You need to be using profit gauges or have some sort of profit and loss statement for this number to work.
 
[image|1162image|1162|align=left]
[image|1162image|1162|align=left]
 
On your P&L (I like to use a quarterly P&L), look at the big #1. That is your net profit per mile. Then look at the big #2. That is your total fuel cost per mile. Add these two numbers together which, in this example, would equal $1.19.
 
[image|1161|align=left]
 
When entering a new fuel up on the ScanGauge KR, enter the above calculated number as your fuel rate.
 
Now on the main gauge screen, your instant $pm reading will be your exact net profit per mile to the truck. For most owner operators, it will bounce around between 30 and 80 cents per mile. It's a great number to watch.
 
If it doesn't make sense, please ask me and I will try to clarify.

Category:

Scan Gauge KRScanGaugeKR
Scan Gauge KRScanGaugeKR

Discussion Topic:

No

Status:

open

Edit by: Jeffrey Szarley ,

Title:

Want to know how ScanGauge KR can display your profit per mile?

Text:

This is the best way to compare your instant profit to your similar operation as a company driver.
 
A lot of drivers ask me what number to put into ScanGauge KR when it asks for "fuel rate". The instructions mention inputing your fuel surcharge per mile or your total rate per mile on the load your currently pulling. These both work fine.
 
I found, I like to watch my true, net profit per mile, (before tax), so I can compare my operation to what I would make as a company driver.
 
Here is how to do it. You need to be using profit gauges or have some sort of profit and loss statement for this number to work.
 
[image|1160|align=leftimage|1162]
[image|1160|align=leftimage|1162]
 
On your P&L (I like to use a quarterly P&L), look at the big #1. That is your net profit per mile. Then look at the big #2. That is your total fuel cost per mile. Add these two numbers together which, in this example, would equal $1.19.
 
[image|1161|align=left]
 
When entering a new fuel up on the ScanGauge KR, enter the above calculated number as your fuel rate.
 
Now on the main gauge screen, your instant $pm reading will be your exact net profit per mile to the truck. For most owner operators, it will bounce around between 30 and 80 cents per mile. It's a great number to watch.
 
If it doesn't make sense, please ask me and I will try to clarify.

Category:

Scan Gauge KR

Discussion Topic:

No

Status:

open

Original post by: Jeffrey Szarley ,

Title:

Want to know how ScanGauge KR can display your profit per mile?

Text:

This is the best way to compare your instant profit to your similar operation as a company driver.

A lot of drivers ask me what number to put into ScanGauge KR when it asks for "fuel rate". The instructions mention inputing your fuel surcharge per mile or your total rate per mile on the load your currently pulling. These both work fine.

I found, I like to watch my true, net profit per mile, (before tax), so I can compare my operation to what I would make as a company driver.

Here is how to do it. You need to be using profit gauges or have some sort of profit and loss statement for this number to work.

[image|1160|align=left]

On your P&L (I like to use a quarterly P&L), look at the big #1. That is your net profit per mile. Then look at the big #2. That is your total fuel cost per mile. Add these two numbers together which, in this example, would equal $1.19.

[image|1161|align=left]

When entering a new fuel up on the ScanGauge KR, enter the above calculated number as your fuel rate.

Now on the main gauge screen, your instant $pm reading will be your exact net profit per mile to the truck. For most owner operators, it will bounce around between 30 and 80 cents per mile. It's a great number to watch.

If it doesn't make sense, please ask me and I will try to clarify.

Category:

Scan Gauge KR

Discussion Topic:

No

Status:

open