Owner-Operator Advice

Topic 27164 | Page 1

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Chad D.'s Comment
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Just became an owner-operator with my dad. We are curious as to how everyone keeps track of their costs/ revenue? Considering buying an online subscription for QuickBooks-advanced. Any advice/ feedback for this option? Does anyone have it or have any good recommendations?

Old School's Comment
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Chad, we don't typically give advice for owner operators. Our goal is to help newcomers figure out how to make a good start at trucking. We consider the company driver option as the best way to go at this career.

However, you've got a good question. It's very important in this business to be able to differentiate between revenues and profits. We've got a few owner operators who are regulars in here. Hopefully they can give you some good advice. I love Quickbooks for managing business finances, but I've never used it for trucking.

Owner Operator:

An owner-operator is a driver who either owns or leases the truck they are driving. A self-employed driver.

PackRat's Comment
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Go to the website letstruck.com.

Errol V.'s Comment
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I did some independent contractor driving a year ago. I found the online accounting web site Wave Accounting to be a very good replacement for QB. And it's free. It's for general accounting, but so is Quick Books.

PJ's Comment
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Letstruck.com has a subscription software program that is specifically for trucking. I have been using it about 18 months and love it.

PackRat's Comment
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Letstruck.com has a subscription software program that is specifically for trucking. I have been using it about 18 months and love it.

That's the one I used, too.

Michael W.'s Comment
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My first question is the equipment, did you buy new or used... If you bought used, do you have the ability to maintain and keep it running? If you are depending on a warranty, you will more than likely be broke rather quickly. These new EPA trucks were built and designed to last 500,000 miles. Once past that ODO reading, the fun begins... Been there and done that, my 7th truck, and I will not go into the costs. Let's just say, I could have three or four really nice old school Pete's as flower planters in my front yard.

Brett Aquila's Comment
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If you are depending on a warranty, you will more than likely be broke rather quickly

All of the major carriers buy new trucks that are under warranty. Why would you go broke if you rely on a warranty? I thought that was the point of buying something new.

Chad D.'s Comment
member avatar

Letstruck.com has a subscription software program that is specifically for trucking. I have been using it about 18 months and love it.

thank you all so much for your great insight and help! I was surprised to see so many people willing to help. How much is the software that you guys bought from trucking.com? Is it online monthly subscription? Or is it a one-time purchase? How much is it? Thanks so much!

PJ's Comment
member avatar

The accounting software through letstruck.com is a monthly subscription. I pay 23.00 a month. All the info is stored on their secure server. They were running a deal awhile back if you download the free trial for 30 days and actually subscripe during the 30 days it was 19.00 a month. It is very user friendly and they have an awesome customer support.

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