The paperwork has begun. I have accomplished quite a lot in just two days. January 2013 is “in the can”. Both personal accounting and business accounting.
Recently I posted about the books I make for Joe and I for our Drive-Away business. I made a new set of books for Jim who is keeping Joe company out on the lonely highways. They are having a few troubles out there. Nothing major. Just a couple of bullheaded guys that KNOW their way is the right way.
Jim has not been in Drive-Away for quite a while.
The trucking industry is “mileage” oriented. You want to make money, you need to make miles. Drive-Away is no different. Like the rest of the trucking industry you have a load to deliver. The sooner it is delivered the sooner you can get to the next load.
Poor Joe and Jim. They are delivering box trailers from a couple of locations in Pennsylvania – Allentown or Bath – and delivering them to an auction site in Burgettstown, Pennsylvania. Moving one trailer over 300 miles then going back those same miles to get another one and do it all over again.
So, to the nuts and bolts of this post. Finding out if you make money on a load or lose money on it. This can be computated and watched daily – if you can stay awake long enough at the end of the day to go through the receipts. As for me, it all comes down to this time of year.
This is my mileage book. The one I made for myself.
Everything begins with a dispatch sheet, either faxed or emailed.
The LOAD NUMBER on the dispatch sheet is what all the income and expenses will be tied to.
The information from the dispatch sheet gets noted in the mileage book.
Since I don’t have Joe’s mileage book for these examples, his is currently somewhere in Pennsylvania, I will show you my book for the first load we did this year.
The LOAD NUMBER has a designated place to be recorded.
Next, we need to know where the trucks are located for pick up and where they will be delivered.
This information gets written in our mileage books.
Next, we need to know which trucks we will be getting. The VIN is what we use.
That gets noted in the mileage book.
Next bit of information will be the pay for the job and any advances that will be given. The advances will be deducted from the final pay after the trucks have been delivered and papers turned in.
This information has a place of its own in the mileage book. Plus there is a section to record the advances received and ComCheck numbers used to transfer the money.
“Trip Envelopes” are used by Joe and I to keep track of all the documents, income and expenses, for each trip. As usually happens I come across an envelope with missing information. While Joe was home when I began getting the files sorted I could harass him into taking care of the necessary missing information. He had his mileage book to flip back through for the missing Load Number of this particular envelope.
All the papers for one particular load in January are together in a file. One by one I go through and enter the information in my QuickBooks program.
After all the advances and expenses are entered I can run a report to see if we made any money on this run or if we lost money. Looks like we lost money on Joe’s load.
At the end of the month the financial picture of our business shows the amount of personal money we had to put in and the loss we took from all the deadhead we had to do. Kind of a bleak start to the year, but it does get better as the year progresses.
I have to go to Kinko’s to have copies made then I can spend some time with my day planner. The writer of one of the blogs I read, Tracy, has been decorating her day planner pages. I think I may spend some time with mine this afternoon.
That’s enough for today. Time to get away from the computer.