Why Getting An IFTA Calculation Software Is Important
The trucking service is regarded by some as the backbone of the country. This recognition holds true as the mobility of services and resources operates 24/7 with the use of the trucking services. Trucking place a vital role in delivering the needed supplies for constructing residential and commercial properties.
In 2015, trucks in Canada were responsible for transporting 64 million shipments, with cargoes totaling about 731 million tonnes. In the US, the government’s records from the Bureau of Transportation Statistics showed that truck freight moved freight which cost a total of $63.3 billion from September 2017 to September 2018. This figure takes up 62.2 percent of all transborder freight.
Truck freight data that passed the US-Canada border amounted to $28.6 billion which comprised 56.1 percent of all freight in the northern border. So if you are into the trucking business, you should need all the help you could get to make your services accessible.
IFTA Compliance Needed to Keep Moving
To continue their mobility and, well, keep the economy of two countries moving, businesses related to providing trucking service should be compliant with the IFTA. The IFTA or the International Fuel Tax Agreement covers the 48 contiguous states in the US and Canada’s 10 provinces. It standardized the accounting and processing the payment of fuel taxes to assist trucking companies from reducing their paperwork. Before IFTA was forged between the US states and Canada, truck drivers needed to get a permit for every state or province they passed by. They get these permits at the designated points of entry.
But even when IFTA has already lessened, preparing IFTA reports manually would still take days to be completed. IFTA reports are filed every quarter. You need to keep records of your fleet’s mileage in each state, the volume of fuel you used during those trips across borders, credits due, laden and unladen weights, and receipts among others.
Some would take three days to work on their IFTA tools. Rushing to complete the report towards the deadline is often the practice to make sure truckers are will not get penalized due to delinquent payment, or worse, to not have their loads impounded and have their IFTA licenses revoked.
Why You Should Get An IFTA Calculation Software
Today, thanks to technology, filing IFTA reports is made a lot easier with the use of IFTA calculation software, like the eTruxFuel. An IFTA calculation software provides truckers with a solution to solve their fuel tax reporting woes.
This software reduces the time spent preparing IFTA reports and probably missing the deadline for filing. It eliminates the need to outsource the IFTA report generation you need per truck per quarter. That means you can save time and money. When you failed to file your IFTA report, you don’t only lose money once you are penalized, you lose money every month that you get delayed from paying your principal tax, and you lose profit when your load gets impounded.
Ultimately, the IFTA calculation software can help you focus on what you do best and that is moving cargoes and contributing greatly to the economy. So you better get that reliable fuel tax software to help you keep track and keep your wheels running.Ifta Calculation Software
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