The first quarter IFTA deadline isn’t until April 30.
But you don’t have to wait until then to start preparing for the IFTA deadline. In fact, the earlier you start and the more consistent you are, the easier IFTA reporting will be.
Here are our top tips for removing stress from IFTA deadlines.
IFTA reporting tip #1: Be consistent with your records
It’s super important to keep accurate of all your mileage every single day. In theory, this has become easier with the ELD mandate, but many drivers report the ELD not logging information correctly.
So while the ELD might have been designed to remove discrepancies in logging and reporting, it may still be necessary to keep another set of logs just to be safe.
Doing this every day will make it easier for you to accurately write everything down.
And obviously, the same rules apply to your fuel purchases.
IFTA reporting tip #2: Keep track of everything in a single location
Ideally, you should keep track of all your mileage and fuel purchases in one record. You don’t want to have two sets of information to check when the deadline is coming around.
The best option would be to have a single digital record so you don’t have receipts floating around your truck and a mileage log on a notepad that you could lose.
You could always use something like a spreadsheet, but there’s an even easier solution.
IFTA reporting tip #3: Use a TMS to keep track of everything
If you are using a well-rounded TMS, it will allow you to keep track of things like mileage and fuel expenses with just a few simple steps.
With TruckLogics, for instance, all of your mileage will be automatically tracked when you create your dispatch. Then, along the way, you can add information about your fuel expenses and even attach a picture of your receipt so that everything is in one place.
Then, at the end of the quarter, you can generate an IFTA report that takes into account all of your mileage and fuel expenses. Then, you can use that to file for IFTA quickly.