Product

Spending Insights: revenue & expense tracking for truck drivers

TruckSmarter

Nov 28, 2023

We hear you–tracking your revenue and expenses as an owner-operator is tough. Either you’re doing all your own bookkeeping, juggling different programs to save time, or you’re trusting your books to an accountant, an expensive and often confusing process. It’s easy to lose track of how much you’re spending in certain areas of your business, and the tools at your disposal aren’t made for truck drivers–so you’re constantly faced with questions like, “Does this expense fall into any of these categories?”  or “Have I done all I need to do to be ready for tax season?”

Spending Insights: spend and save smarter

TruckSmarter’s Spending Insights helps owner-operators monitor their monthly spending, compare expenses and revenue over time, separate business and personal expenses, and get a trucking-first view of their finances. Here's how.

1. Trucking-specific expense categories

We automatically organize your transactions into categories made for your trucking business, including:

  • Fuel

  • Maintenance

  • Commissions & fees

  • Parking & tolls

  • And more 

Spending Insights makes it easy to accurately categorize a transaction so you’re getting a clear picture of exactly where your money is going.

2. Monthly revenue and expense reports

We make it easy to track your spending and compare profit, revenue, and expenses month-over-month. At a glance, you can monitor your business performance over the last six months to see how your revenue this month compares to months prior and track your spending over that time as well.

3. Know (and grow) your profit

Based on how you categorize your transactions in the app, we can calculate your monthly profit, dividing out your business and personal expenses. We’ll also alert you to uncategorized transactions so you can review, assign a category, and get a 100% accurate profit calculation.

A part of our TruckSmarter Banking suite of products, Spending Insights is available to all drivers who factor with us and have a TruckSmarter Checking Account. 

Share this content

9 Tips to stay profitable
9 Tips to stay profitable

9 Tips to stay profitable

10-year trucking veteran Jeanise shares her top tips for making the most of every load.

9 Tips to stay profitable

9 Tips to stay profitable

10-year trucking veteran Jeanise shares her top tips for making the most of every load.

9 Tips to stay profitable

9 Tips to stay profitable

10-year trucking veteran Jeanise shares her top tips for making the most of every load.

Money saving tips for the road
Money saving tips for the road

Money saving tips for the road

In his 3 decades of driving, Josh picked up loads of ways to cut costs on the road.

Money saving tips for the road

Money saving tips for the road

In his 3 decades of driving, Josh picked up loads of ways to cut costs on the road.

Money saving tips for the road

Money saving tips for the road

In his 3 decades of driving, Josh picked up loads of ways to cut costs on the road.

Pros & cons of factoring
Pros & cons of factoring

Pros & cons of factoring

Is factoring right for you? We spell out the pros and cons so you can decide.

Pros & cons of factoring

Pros & cons of factoring

Is factoring right for you? We spell out the pros and cons so you can decide.

Pros & cons of factoring

Pros & cons of factoring

Is factoring right for you? We spell out the pros and cons so you can decide.

TruckSmarter Logo Asphalt Grey Footer

*TruckSmarter is a financial technology company and is not a bank. Banking services are provided by Thread Bank, Member FDIC. Deposits are FDIC-insured through Thread Bank, Member FDIC. The TruckSmarter Visa Debit Card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa USA Inc. 

**Annual Percentage Yield (APY) of 3.27% is effective as of 11/01/2023. This is a variable rate and may change after the account is opened. Minimum opening deposit is $100 and you must maintain an average balance of $1,000 to earn the stated Annual Percentage Yield. Fees could affect earnings on the account. TruckSmarter is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC. The TruckSmarter Visa® Debit Card is issued by Thread Bank, Member FDIC pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

***Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://go.thread.bank/sweepdisclosure and a list of program banks at https://go.thread.bank/programbanks. Please contact customerservice@thread.bank with questions regarding the sweep program.

****Terms and conditions apply to the TruckSmarter cash back rewards program. Please see Program Terms for details.

TruckSmarter Logo Asphalt Grey Footer

*TruckSmarter is a financial technology company and is not a bank. Banking services are provided by Thread Bank, Member FDIC. Deposits are FDIC-insured through Thread Bank, Member FDIC. The TruckSmarter Visa Debit Card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa USA Inc. 

**Annual Percentage Yield (APY) of 3.27% is effective as of 11/01/2023. This is a variable rate and may change after the account is opened. Minimum opening deposit is $100 and you must maintain an average balance of $1,000 to earn the stated Annual Percentage Yield. Fees could affect earnings on the account. TruckSmarter is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC. The TruckSmarter Visa® Debit Card is issued by Thread Bank, Member FDIC pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

***Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://go.thread.bank/sweepdisclosure and a list of program banks at https://go.thread.bank/programbanks. Please contact customerservice@thread.bank with questions regarding the sweep program.

****Terms and conditions apply to the TruckSmarter cash back rewards program. Please see Program Terms for details.

TruckSmarter Logo Asphalt Grey Footer

*TruckSmarter is a financial technology company and is not a bank. Banking services are provided by Thread Bank, Member FDIC. Deposits are FDIC-insured through Thread Bank, Member FDIC. The TruckSmarter Visa Debit Card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa USA Inc. 

**Annual Percentage Yield (APY) of 3.27% is effective as of 11/01/2023. This is a variable rate and may change after the account is opened. Minimum opening deposit is $100 and you must maintain an average balance of $1,000 to earn the stated Annual Percentage Yield. Fees could affect earnings on the account. TruckSmarter is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC. The TruckSmarter Visa® Debit Card is issued by Thread Bank, Member FDIC pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

***Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://go.thread.bank/sweepdisclosure and a list of program banks at https://go.thread.bank/programbanks. Please contact customerservice@thread.bank with questions regarding the sweep program.

****Terms and conditions apply to the TruckSmarter cash back rewards program. Please see Program Terms for details.

TruckSmarter Logo Asphalt Grey Footer

*TruckSmarter is a financial technology company and is not a bank. Banking services are provided by Thread Bank, Member FDIC. Deposits are FDIC-insured through Thread Bank, Member FDIC. The TruckSmarter Visa Debit Card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa USA Inc. 

**Annual Percentage Yield (APY) of 3.27% is effective as of 11/01/2023. This is a variable rate and may change after the account is opened. Minimum opening deposit is $100 and you must maintain an average balance of $1,000 to earn the stated Annual Percentage Yield. Fees could affect earnings on the account. TruckSmarter is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC. The TruckSmarter Visa® Debit Card is issued by Thread Bank, Member FDIC pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

***Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://go.thread.bank/sweepdisclosure and a list of program banks at https://go.thread.bank/programbanks. Please contact customerservice@thread.bank with questions regarding the sweep program.

****Terms and conditions apply to the TruckSmarter cash back rewards program. Please see Program Terms for details.