Dollars & Sense

Kevin Rutherford

Simplify your record keeping

Kevin Rutherford | May 01, 2011

• Use the online software I have created for this system. You can find it at Log into the system and make one entry for each of your categories, and then enter the data from your settlements. The system does the rest, creating the reports I described earlier.

I will be hosting webinars on this topic for those who’d like to learn more about the process. Sign up for my newsletter at for the details.

You can skip the computer

If you’d prefer a paper-based record-keeping system, you can still generate the same key reports:

• Make a ledger entry with the months across the top row and a category list down the left.

Scale fee receipts are among expenses that should be filed for income tax purposes.

• As you total each category, write the amount in the corresponding ledger space. If you are proficient with spreadsheets, you could create your own reports from the data. If not, your accountant can use the ledger to create the reports for you.

• Divide each category total by miles for the month to create your cost-per-mile for the category. This can be recorded in a dual column for each category or on a separate ledger sheet.

Expense categories

• Car expense

• Fees & commissions

• Insurance

• Interest paid

• Legal & accounting

• Office supplies

• Rent or lease

• Repairs & maintenance

• Non-office supplies

• Taxes & license

• Travel

• Meals & entertainment

• Utilities

• Wages & payroll

• Fuel, oil & additives

• Scale fees

• Tolls & parking

• Load & Unload

• Physicals & drug testing

• Uniforms & laundry

• Settlements


Kevin Rutherford is an accountant, small-fleet owner and the host of “Trucking Business & Beyond,” which airs on Sirius XM Radio’s Road Dog Trucking Radio. Contact Rutherford through his website, strives to maintain an open forum for reader opinions. Click here to read our comment policy.