The most accurate way is to replace the tank with a special tank with internal float and level gauge -->
Like this one. They can be manual or electric (ie send a signal to a remote monitoring panel).
Next best is to weigh the tank to determine how much propane liquid is left in the tank - this requires knowing the empty weight of the tank (not tough, but a Pain in the A**). I suppose you could rig up a weigh scale under the tank in the compartment but that is a bit out there..
There is a stick on propane level gauge that works on temp difference - ie when liquid propane vaporizes it takes heat in (endothermic) and the stick on gauge will show you where that interface is......You can do the same with your finger, or laser thermometer. Note - propane must be being used from the tank for this to work - ie liquid converting to vapor.
Finally, the screw on gauge between tank and hose is useless - it will tell you when your tank in empty, but that is about it.... It works on pressure. Pressure in a propane tank is pretty well constant until there is no liquid propane left.......
My thoughts.
Brian