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.

In any profession, keeping your earnings safe and secure is of paramount importance. For mini cab and taxi drivers, this can be more of an issue as all of the daily earnings are kept inside the taxi, meaning coins and notes can be lost or stolen relatively easily.

How can these fares and change be protected from acts of theft or simple misplacement?

Keep Notes Hidden

Having lots of notes lying around the taxi is not a good idea. Not only will it increase the chances of some of them being lost, in extreme circumstances they may be tempting to plucky thieves. The best idea is to keep all notes together in a safe place out of the way from preying hands. A good investment would be in a cab driver money bag. These money bags have various compartments which means they can hold a large quantity of cash securely and discreetly.

Organise your Loose Change

Most taxi drivers have a large amount of loose change. Although a money bag will of course keep coins safe, they will be all mixed up together, making it difficult to know exactly how much change there is. One way around this would be to invest in a taxi coin dispenser. These important pieces of kit will allow you to see what coins are running low, as well as making it easier and quicker to dispense the right change.

Protection from Forgeries

Unfortunately, taxi drivers are the front line when it comes to money scams and forged notes. Accepting and then realising that a note is a forgery can be extremely frustrating. One way taxi drivers can protect themselves from this threat is to buy and install a taxi forged note detector. From UV lights to magnetic inks, these detectors can instantly recognise suspect notes and could save you a great deal of money in the long run.

Remember, by investing in products that are designed specifically to help taxi drivers, the jobs that are currently difficult or annoying could be made a lot easier. Having a cash management and security system in place could result in less money being lost and will make organising cash less of a chore.

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