Or use connector apps like Zapier to integrate hundreds of other apps and add information like your IFTA fuel tax reporting. It can provide key insights into your profits and losses so you can find areas to improve and grow your business. Operating a small fleet can save considerably more on software, though some plans offer discounts for enterprise-level trucking operations. Others require a minimum number of qualified motor vehicles (QMV) per fleet. TruckBytes requires manual entry of invoice, mileage, and expense data into the spreadsheets. While it takes the work out of many calculations, it does not offer many of the automatic entry and reporting functions provided by other software.

How can truckers manage their bookkeeping efficiently?

Accounting is perhaps one of the most crucial departments of any business, including trucking and transportation. A good and efficient accounting department helps retain customers and keep your employees happy. At the end of each month, TruckLogics will generate an IFTA report that outlines the fuel tax owed to each jurisdiction.

Trucking Accounting Software vs General Accounting Software

While Quickbooks can be used for trucking companies, some trucking-specific features are missing such as cost-per-mile calculations and IFTA reporting. However, some companies use other solutions for those tasks and find Quickbooks meets their accounting needs. Trucking companies may take very different approaches to bookkeeping depending on their size, time in business, and plans to expand. At its most basic, bookkeeping can be tracked manually with ledger books or spreadsheets. Instead, most owner operators opt for scaled-down software to streamline their bookkeeping. Because it was built with trucking in mind, TruckingOffice offers expense reports for scales, tolls, and maintenance.

When it comes to accounting software employee furlough for trucking businesses, integration with other systems is crucial for efficient operations. Many trucking accounting software solutions on the market offer seamless integration with popular accounting platforms. This integration allows for better expense tracking, invoicing, and financial reporting. In the trucking industry, it’s essential to have customizable invoicing solutions that cater to specific business needs.

1. Here’s a rundown of our top picks based on our internal review process and user reviews.
2. For instance, Tailwind’s Unlimited package enables tracking an unlimited number of shipments per month.
3. You can also use the FreshBooks app to create professional invoices and estimates from the road, snap photos of receipts and check the status of payments.
4. The user-friendly dashboard lets you quickly see outstanding revenue, total profit and total spending.

How Much Does Trucking Accounting Software Cost?

It lists all revenue and expenses for a set period of time (usually quarterly or annually). A profit and loss statement can also be used to calculate cost-per-mile, helping you choose loads that will maximize your business income. ProTransport modules cover all of the major accounting needs, as well as dispatching and maintenance management.

Manage your payroll with trucking accounting software to address the often complex process of paying drivers. For instance, you can implement direct deposit so your drivers get paid on time no matter where they are. Sometimes part of larger transportation management software (TMS), standalone trucking accounting systems are often more practical solutions for small fleets of Qualified Motor Vehicles (QMV). However, these business accounting systems can fulfill the needs of independent owner-operators, carriers, and fleets of all sizes. Technically not a software solution but an alternative, TruckBytes provides free pre-made spreadsheets to streamline invoicing, trip reports, and IFTA filing. Additional options include an electronic data interchange (EDI) and a fuel card interface.

Optional extras include premium routing software that can calculate mileage and optimal routing. TruckingOffice also offers an optional electronic logging device (ELD) that can sync with your mobile app automatically. Truckers can use FreshBooks to track expenses and be prepared for tax season. It’s easy to connect your bank account and credit cards for seamless payments. Lastly, make sure the software you choose is easily accessible on mobile devices, allowing you and your team to manage and monitor your trucking operations from anywhere.

Truckers must choose between the two fundamental methods of accounting, the cash and accrual bases. They impact your tax return significantly, so consider consulting an accountant before choosing one. Apply for financing, track your business cashflow, and more with a single lendio account.