Accounts and Receipts
Taxi Drivers: How to Keep on Top of Your Finances
Like many other self employed workers, taxi drivers may struggle to keep on top of their finances, especially given the long and unsociable hours worked.
So how can this be prevented? Is there anything on the market that is designed to help them?
Keeping a Daily Record
It may sound obvious, but many taxi drivers fail to keep a record of all the fares they complete in a day. Performing this job at the end of the week or month can be very time consuming. The best thing to do is make a note of each fare as they end. Make use of taxi driver daily log sheets that are available on some taxi driver accessory websites. These allow for either the drivers themselves or for somebody in the office to keep a detailed and accurate of every job completed by every driver, allowing for a clear daily record to be created.
Keeping a Yearly Record
Many taxi drivers spend fortunes each year on accountancy fees, mainly due to poor bookkeeping on their part. By keeping a daily record, it will be possible to transfer these details into a black taxi driver weekly account book, meaning at the end of the year the taxi driver will have a comprehensive, easy to read and clear account book to present to the accountant, making tax returns easier for all those involved. Company printed mini cab receipt pads are also a good idea as they are appreciated by the customer and are an easy way to keep on top of fares and can be stored away.
There are many products that are specifically designed to help taxi drivers keep up with their accounts. An online service that offers these types of products could save a driver serious amounts in end of year costs.