Operating and managing a large fleet of delivery trucks can range from very tricky to disastrous. A lot of nasty things, such as inaccurate reflection of your expenses and forgetting your employees’ FBT, can happen.
If you own a fleet of delivery trucks, sometimes even the most simple and mundane task becomes a complex one. For instance, if you only have one truck, it is very easy to monitor fuel consumption, as well as estimate the fuel cost for a particular destination. With a fleet, the rules change. You would need perhaps a dozen personnel just to monitor everything so that you will be able to accurately report your expenses during tax filing. If you are in this situation, perhaps the time has come for you to enlist the help of technology?
A penny here and there soon adds up to a dollar
Tax agencies, such as those in Australia, are very strict in ensuring companies submit accurate reporting of their expenses to determine taxable income. With the help of fleet management software application, you can come up with precise data as regards your operating expenditures. Such application software could also provide owners with real-time reporting.
As a fleet owner, you have certain obligations to your employees that you need to fulfil and among these is the fringe benefits tax or FBT. According to Australian Taxation Office, FBT is a form of non-monetary benefit that an employer like you can extend to employees in recognition of their service. Fleet management software applications recognise this as an expense on the part of the company which is why such aspect has been integrated into the system. This function allows owners the capability to monitor which employee has received their FBT and which one still has not.
FBT can come in many forms and one of them is providing transportation for the employees. Since buying cars can be costly to fleet companies, securing a lease is perhaps the next best thing. According to Stratton Finance, this type of lease is most beneficial to your employees. Employers can help their personnel choose a car by using finance lease calculator in Australia such as LeaseMasters which is also integrated with the fleet management application.
Operating your own fleet of delivery trucks can be a very lucrative business. This is particularly true if you have established clients in many parts of the country. However, managing such a large operation can give you a nasty headache. Enlisting the help of technology, such as a software application that helps you manage your fleet of delivery trucks, can help a lot in this aspect.