How to be Successful in the Trucking Business

1. An ELD (electronic logging device) is an electronic quick fix that lets expert commercial vehicle carriers & truck drivers to conveniently track and record their hours of service.

2. Trucking business is the backbone of business industries worldwide. Without trucking, there’d no electronics in the stores, no groceries in the refrigerator, and no homes to dwell in. All the stuffs we bought & used are made feasible by trucking firms, who move the raw materials & finished goods across the country each and every day. Unfortunately, not all trucking forms are successful. In fact most are pretty small, and go out of business inside three years. If you are a small trucking firm, the below listed tips must help you become more successful. Decrease your factoring Nearly all small trucking firms factor their invoices, which mean they employ a finance company to lend them money against their receivables. This is a pretty expensive way to operate. Most trucking firms operate at 10% margin or less, and most factoring rates are 3% or more. This leaves pretty little profit for the business. If you must factor to get started or grow, just ensure it’s a temporary solution. Have a plan to decrease the number of invoices factored or the time you employ a factoring company. Outsource your payroll Unless you’ve more than 25 employees, it is often better to outsource your payroll to a payroll service than to do it yourself. A payroll service is going to ensure all your tax payments are calculated properly & made on time.

3. The Trans*Eaz and NOVA trucking payroll software is totally featured systems which will process your payroll in a timely & precise manner. Some of the key features of this payroll module include: · Decreases cost to process payroll. · Employees paid correctly/Flexibility to incorporate benefit packages. · Computes all taxes & fees including earned income credit · Automatic interface to driver settlements. · Supports all 401K, Keogh, and Cafeteria plans. · General Ledger entries are created automatically including entries for voided & manual checks. · Reporting requirements fulfilled. Use technology I defy anyone to point to a successful business of any kind that doesn’t employ technology to the fullest. And the trucking business is no exception. Technology is always affordable than hiring employees –ALWAYS. From trucking software, to GPS to document imaging, there’re too may affordable options out there to overlook. Trust me; your competition is not overlooking them. And if you overlook them, you won’t be anyone’s competition very long. Hopefully, you’re already using some of these tips in your business. If you are not, then start using them now! Source from - https://aurorasoftwaresolution.wordpress.com/2020/08/24/how-to-be-successful- in-the-trucking-business/

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