Fuel tracking starts with a dedicated fuel card. Cards from providers like Comdata, EFS, or WEX automatically log every purchase with the date, location, gallons, price per gallon, and state. That state-level detail is critical because you need it for IFTA reporting every quarter. Without it, you’re manually reconstructing where every fill-up happened across dozens of states, and that’s where errors creep in.

If you’re not using a fuel card, save every receipt and record the state, gallons, and total cost at the time of purchase. Waiting until the end of the quarter to figure out which state each fill-up was in doesn’t work. You’ll miss receipts and guess wrong on locations, which leads to IFTA discrepancies and potential audits.

In your accounting software, create a dedicated fuel expense account and keep it separate from other vehicle maintenance costs. If you have multiple trucks, track fuel by vehicle so you can spot declining fuel efficiency or unusual spending patterns. This level of detail also helps when you’re evaluating routes and calculating true cost per mile.

Watch out for truck stop purchases that bundle fuel with other items like DEF fluid, supplies, or snacks. Those non-fuel purchases need to be separated and categorized correctly. Fuel cards usually break these out automatically, but if you’re using a regular credit card, you’ll need to split the transaction manually in your books.

For per diem, the IRS allows transportation workers who are away from their tax home overnight to deduct a daily meal allowance instead of tracking individual meal receipts. The DOT special rate for transportation workers changes periodically, so confirm the current amount each year. The big advantage for truckers is that 80% of the per diem is deductible, compared to the 50% limit that applies to most other industries.

Track your days on the road with a simple log that records the date you left, the date you returned, and whether each day was full or partial. This log should align with your trip records and ELD data. The IRS expects consistency between your per diem claims and your actual driving activity, so don’t estimate or round up.

Partial days count at 75% of the full daily rate. The day you leave and the day you return are both partial days. Every full day in between counts at 100%. Record this weekly at a minimum. Trying to reconstruct a full year of per diem from memory at tax time leads to missed deductions and numbers that won’t hold up if questioned.

In QuickBooks or whatever you’re using, per diem should be recorded as a meals expense with a note indicating the DOT per diem method. Your bookkeeper or accountant needs to know you’re using this approach so the 80% deduction rate gets applied correctly on your tax return instead of the standard 50%.

Fuel and per diem together often represent the two largest variable costs for owner-operators and small fleets. Tracking them accurately throughout the year means you’re not leaving money on the table and you actually know what it costs to move a load. That number drives every meaningful decision from rate negotiations to equipment purchases.

Working with someone who understands freight and logistics accounting makes a real difference here because IFTA reporting, per diem calculations, and tax preparation all need to connect properly. If your current tracking is inconsistent or months behind, getting your small business bookkeeping cleaned up and systematized should be step one. The sooner your records are accurate, the sooner you can see whether your rates actually cover your costs.