Avoid These Three Common Mistakes in IFTA Reporting
The goal of IFTA is to make reporting mileage and fuel consumption easier. But the sheer volume of guidelines might quickly confound a person. Your IFTA fuel tax reports must be submitted, which can be time-consuming. A reliable IFTA miles calculator can make calculating the mileage a lot easier. This blog looks at three types of IFTA reporting mistakes most trucking companies commit. 1 - Calculations for fuel estimation At the end of each IFTA quarter, it can be tempting to estimate your fleet's average miles per gallon and miles driven to save time, but it's important to record these data precisely. You must keep track of your fuel receipt information, including the number of gallons purchased, to be eligible for refunds or tax credits. Additionally, if fuel calculations appear inaccurate, your fleet may be audited. 2 - Not recording each mile. You must record all of your miles, including unloading and personal ones, according to IFTA. These mile