Points to Consider While Choosing an IFTA Software
Selecting IFTA software is always overwhelming in terms of investment and time. However, when you get the one, ROI increases. IFTA software like any software, in general, uses the latest technology to produce an effective solution. The IFTA reporting software is designed to scale, evolve and adapt to the changing business. If you won’t be successful in the business, you need a solution which adapts to the emerging technologies.
The first thing is to understand the question, what is IFTA. Well, The International Fuel Tax Agreement (IFTA) is an arrangement among U.S. states and Canadian provinces. IFTA is the taxes paid on the motor fuels. Every licensee has to fill the IFTA under the state jurisdiction. When you know what IFTA is, the next to come to the responsibility of filing it accurately. You must know that missing or filing IFTA inaccurately can be a result of hefty fines.
IFTA reporting is tedious and no one enjoys paying taxes. However, taxes are an inevitable part of life and can’t be ignored. But using an IFTA software you can minimise the hassle and the chances of getting audited will be less. The process becomes painless with the software and you may not find a tax collector at your door. During the time of audit of an organisation, The auditor wants to see accurate odometer readings.
They will consider the IRP mile, DOT records and trip logs. They will determine how much miles were actually driven. They will compare the receipt by the drivers. If there is a difference the auditor will determine how much tax needs to be paid. The auditor can impose a heavy fine for inaccurate reporting. So the only solution to not making any mistakes is adopting IFTA software.
Of course, there are a number of organisations developed the IFTA software. However, choosing the one as per your requirements is critical. Let us discuss the 5 most important thing you can consider while buying an IFTA software. The first and foremost thing to consider when selecting the IFTA software is that it matches up to your business expectation. It is advisable to go through all the features and see if that you can match up with your organisational goal. We all know that the manual IFTA reporting needs a great amount of time and resource.
Before adopting software you need to analyse the resource utilisation. The time and resources saved can put to other aspects of the business. You must trust the provider and the security features it provides. No owners want to land up a situation of buggy software. The software providers are obliged to provide security and other updates of ever-evolving changing rates and features.
You need to analyse the provider provides the updates with no additional costs. The last point, but not the least. Your staff should face no difficulty and no additional training costs to operate the IFTA software. The software itself should have a great user interface and should be very easy to use. The above points are vital in considering IFTA software. IFTA reporting does not have to be overwhelming when you have good software at hand.