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Learn how to use the Load Comparison Trucking Profit and Loss Spreadsheet from the Truckers Trip Planning App and compare your profits and losses for up to five loads.
The Load Comparison App can be used for two very important functions to help lease operators and owner operators track their profits and losses. The trucking profit and loss spreadsheet is designed to broaden your focus on running more profitable loads.
Objective 1: You can use the Load Comparison #TruckingProfitandLossSpreadsheet to compare up to five loads from the load boards you use to quickly determine which of the five is the most profitable load for you to run based on your truck operating cost.
First update your #costpermilecalculator to ensure that it is reporting the correct cost per mile to the trucking profit and loss spreadsheet.
Next select the button to go to the Load Comparison App.
Update your core data. This information will be persistent on the app and will only need to be updated when you need to make changes. To make changes you simply need to reenter the updated data.
Select the number of loads that you will be comparing from the load board or whatever source you get your loads.
Update the Load Pay, the Fuel Surcharge, the empty miles, and loaded miles for each of the loads in which you will compare.
Scroll down and click on the "Compare Your Loads" button and the information you will need to analyze your loads will be calculated.
You should be able to see which of the loads will be the most profitable based on your trucks operating cost per mile.
To get an even clearer representation, select the "Show Chart" button to visualize the profit and loss in a bar chart.
The calculations will remain on the trucking profit and loss spreadsheet when you close the app and will be available for future use until you decide to reset the app to analyze more loads.
Objective 2: You can use the profit and loss spreadsheet to review the loads you run one at a time so that you can see when your profitable loads are falling behind loads that are causing you a loss. By tracking your loads, you can track what you are doing and make adjustments on the loads you are running to increase your profits rather than waiting until the end of the week to look back and find that you didn't accomplish as much as you could have had you selected better loads.
Using the Load Comparison App to track your performance is relatively no different than analyzing the loads from the load board except that you will be updating the truckers profit and loss spreadsheet after each load that you run.
Update the Trucking Profit and Loss Spreadsheet for each load that you run.
First update your cost per mile calculator and proceed to the Load Comparison App.
Next update your core data just as you did before.
Change the number of loads to one and update the Load Pay, the Fuel Surcharge, the empty miles, and loaded miles for each of the loads in which you will compare. NOTE: If you do not get the load pay or the fuel surcharge and is normally paid by the mile then simply multiply the total of the empty and loaded miles by the cents per mile and enter the result in it's appropriate place.
Scroll down and click on the "Compare Your Loads" button to update the profit and loss for the load.
On your next load return to Step 1 and repeat the process for up to 5 loads.
As you run your loads and add each load to your trucking profit and loss spreadsheet you should be noticing what kind of loads you are running and whether they are profitable as you would like them to be. If they are not then you should be looking to make some changes. Don't be too concerned if one load is far less profitable than the others unless you can see that you have absolutely no way of making up for it.
The Trucking Profit and Loss Spreadsheet Load Comparison App is another example of our commitment to set the standard for the meaning of apps that are "Built By Truckers For Truckers". The app was suggested by one of our members, Jason Lowery, who assisted in the build. Many thanks to him for his commitment to help other truckers.
The Load Comparison App will be free and available in your download with Full Access to the Truckers Trip Planning App, or when you download either the Solo Lease and Owner Operator Trip Planning App, or the Team Lease and Owner Operator Trip Planning App.