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Released April 2011, ProfitGauges is the simplest yet most efficient accounting program for your trucking business.

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Having issues getting started entering data due to dates?

I am paid the following week that I do the work so for example Jan. 2012, my settlement for the week of 1/1 to 1/7 was paid on 1/13. If I enter the dates of my settlement, what I ran in January will actually run over into February and so on, thus in my mind, throwing off my numbers. So I worked the 1st to the 7th and was off 2 weeks and worked again 1/22 to 1/28 but the settlement was dated 2/3 putting that in February even though I did the work in January. I need some advice as to how to set this up to make my numbers accurate.

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1 Answer

Jeff,

This is actually an issue for every company, not just trucking. The way most companies choose to manage this situation is to enter the expenses and income when you get them. So for your settlements you'd record the income when you get paid and not when you earned it. Yes this will run over into other months, however in the course of a year it will all balance out. The same will be for the expenses that show up on your settlement. It makes it much easier if you enter those transaction when you get the settlement, under the settlement date, rather than the exact day of the transaction.

I hope this helped. Please let us know what other concerns you have.

Aaron Yount

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OK so my question then is we are to enter our mileage at the beginning of every month on the expenses side so we can get the per mile figures and % of revenues etc. but if the settlements are a week off and the actual miles we run in the month are off from what we are entering, won't that skew the numbers for those figures or am I missing something. Also on that note, what I ran the last week of December 2012 was paid January 3, 2013 so that would be on January's revenue I assume correct. Is that how the 1099 figure's are also totaled as well by the year in that they were paid not necessarily when the work was done?

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Jeff, Your 1099 will reflect what you were actually paid in that year and not what you earned. Yes the miles you drive in the current month will be different than your actual income earned and expenses. This will balance out in the end and it difficult to understand. It's such a small figure that it's doesn't benefit the extra hours it would take to separate everything out to the exact day. I hope that makes sense.

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OK, I guess I am just over thinking it and will get busy entering data. Thank you so much for responding back quickly. From the little I have used it, it will be a huge timesaver over the previous program I was using that wanted every little bit of info about each load that it was just too time consuming. That's where my confusion comes in is that here you do it as each settlement whereas my other one did each load separate and I didn't really have this date issue in my head because of that. Thanks again Aaron.

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Jeff Perry will be eternally grateful.
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