How To Do IFTA
Computing, finalizing and submitting your IFTA report can be a very tedious process that would require you to deal with paper logs involving different commercial fleets. Since this process is very tedious, it requires that you review your previous quarter’s trip sheets to be able to calculate your vehicle’s mileage for each jurisdiction. As such, you are most likely to commit error and miscalculations.
With the question of how to do IFTA, eTruxFuel can help you automate and simplify the entire IFTA calculation process.
If you want to get an IFTA license, the application is available online per province or per home state.
Information Required to Complete an IFTA Quarterly Report
For your quarterly IFTA reports, you will have to keep track of a couple of items and whether or not this process is tedious for you, you will really have to make sure that all of these requirements and information are in place to avoid cramming when report submission date comes near.
For every type of fuel and for every qualifying vehicle, you will be required to compile and track these items for your report:
- Total mileage and total taxable miles covered in every province or state jurisdiction
- Total taxable gallons bought in every province or state jurisdiction
- Total miles covered in all trips, including those tax-paid gallons in every non-member state or province
- Total taxable gallons bought in every non-member province or state jurisdiction
Report: IFTA Fuel Tax
Total tax-paid gallons bought refers to the number of fuel gallons bought in a particular pump inclusive of tax. To track this, you have to safe keep all your receipts equivalent to the amount stated under your tax-paid gallon. Aside from the amount, you also have to record the date of purchase, type of fuel bought, the total number of gallons, price of every gallon, and the seller’s name and business registration address. All these pieces of information are required for your IFTA report. To track this important information more easily, you can opt to use a fleet management app that supports the integration of fuel card feature. Companies like Panoramic Properties and other which has large-scale operations are encouraged to try this software for their commercial trucks and vehicles.
Fleets take advantage of various recording methods when recording their mileage. One of the most common strategies is a manual recording of mileage or the use of odometer in the reading distance every time your vehicle crosses the state lines. The latter method measures the entire trip distance by using Google Maps later on or by making use of IFTA-approved software that counts your mileage. At the end of the day, the most suitable method for mileage counting would be one that is convenient and easy to comply for drivers.
Reporting Periods for IFTA
2097 Return Due Dates
- January to March: April 30
- April to June: July 31
- July to September: October 31
- October to December: January 31
Remember that if you don’t operate during a specific quarter or period, you still need to submit this report reflecting zero miles. Get informed and get a deal with eTruxFuel to answer your question on how to do IFTA.How To Do Ifta
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