To simplify things I categorized several expenses together: I did not make an IRP payment during May, June, or July, so I took the total amount I paid for the year and divided it by four to get three months worth. I account for that by not including any of the interest listed on the profit and loss statement in my cost-per-mile calculation, but I use the actual truck and trailer payment amounts. Your entire truck and trailer payments don’t show up on the profit and loss statement, only the interest portion does. Most of the expenses listed above came directly from the profit and loss statement.
These numbers are three-month totals for May, June, and July.Ģ. Let’s point out some of the things you need to keep in mind.ġ. Even though the overall cost-per-mile using this method is only $0.03 different than the good method, over 10,000 or more miles a month, that adds up to several hundred dollars. That makes a total cost-per-mile of $1.64. If you want a true representation of what your cost-per-mile is, you need to list each expense individually. If you don’t have a profit and loss statement, shame on you, but you can just add all your expenses together and divide that by the number of miles you ran during the same time period you used for expenses.
Trip calculator for diesel trucks full#
Some expenses like your full truck payment are not fully accounted for on the profit and loss statement.Some expenses like lumper fees are not true expenses, because they get reimbursed.This number will get you close to your actual cost-per-mile, but it is not exact. You can see the Haulin Assets’ profit and loss statement in the show notes for episode 17 of the podcast.
Goodįor the simplest cost-per-mile calculation, you merely divide the total expenses from your profit and loss statement by the total number of miles you drove. Let’s take a look at all three by analyzing Haulin Assets’ first three months of operation to determine its three-month cost-per-mile.ĭuring that three-month period, I drove 31,307 total miles. When calculating cost-per-mile, I like to say there are three methods: The more complicated version will give you greater detail and help you make even better decisions. Your cost-per-mile calculation can be simple or a little bit complicated.
Trip calculator for diesel trucks how to#
After I explain what the cost-per-mile is, I will give you the “so what” and show you how to use it. Understanding your company’s cost-per-mile is an important tool that will help you make better business decisions in several different areas.
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