Bookkeeping for Truckers: Tips, Apps, Free Software Shoeboxed

FreightWaves Ratings reference a list of approved sources for use of research to support editorial research and drafting. Always ensure that you adjust your monthly budget to reflect the expenses of your software as well. Axon is not cloud-based; instead, it is installed locally on a desktop computer and can be accessed only from that device. That works well for a bigger operation, but is not ideal for independent drivers who need access on the road. We believe everyone should be able to make financial decisions with confidence.

Make bookkeeping entries and view your financial reports on any computer or mobile device connected to the internet. With Pro-Ledger Online there is never anything to update, backup, or install. That’s why we’ve put together a few truckers’ bookkeeping tips to simplify your bookkeeping process. Keep reading below for our guide to bookkeeping for truckers. When you’re always on the road, keeping your financial records organized can be hard.

FinancialForce Accounting

We invite you to access our podcasts, blogs, news and radio interview replays that are focuses on assisting you with your small trucking business. In the event of an audit, you will need to have financial documents available for review. Having an efficient and accurate recordkeeping system will make it easier to find what you’re looking for to get through an audit. Suppose you can’t provide substantial documentation for an audit, in that case, you may be required to pay additional taxes and penalty fees. Whichever program you choose, make sure that it offers the features that are most important to you so that you can get the most out of it. There are several potential pitfalls that new businesses of trucking can face, from regulations and compliance to managing a fleet of vehicles.

New Zealand-based Xero is aiming to replace QuickBooks as the top accounting software for U.S. businesses. Unlike QuickBooks, Xero was developed with mobile devices in mind. The Xero Touch application works with iPhone, iPad & Android.

Pros

Faster, Easier Payroll – We manage the most complex driver, owner operator and carrier pay calculations, wages and expenses with ease. Truckers Helper was originally conceived in 1990 by John and Sheila Ewing, when they were driving and wanted to efficiently manage paperwork. That is when John developed the original macro powered spreadsheet based program.

Understanding bookkeeping helps to give you a clear picture of your business’ performance and be prepared for when tax time rolls around. Keep reading to discover our picks for the best trucking accounting software. Many companies use trucking accounting software to make managing their finances easier and more efficient.

Access it from anywhere • Easy to use • Saves time & money

However, many truckers bookkeeping service businesses have found success using QuickBooks as their primary accounting software when pairing it with an industry-specific dispatching and route management option. Trucking software provides a unified way to manage dispatch records, track your drivers, pay invoices, and monitor interstate fuel tax agreement reports. Trucking software can be used by single owner/operators, or by a company managing a fleet of drivers or carriers. Now, TruckingOffice integrates with both desktop versions of QuickBooks as well as QuickBooks Online.

• As a trucking business, each load you haul needs to be profitable.
• Whichever program you choose, make sure that it offers the features that are most important to you so that you can get the most out of it.
• Rigbooks puts profit and loss reports, expense and fuel mileage reports, and more at your fingers tips.
• Powerful features let you request deposits for freight, add discounts, set up payment schedules and even automate late payment reminders and fees.
• First, they can help to simplify and streamline the billing process.
• One of the most important is to make estimated tax payments regularly.

Software installed locally on a desktop may be ideal for trucking operations with dedicated office staff. A cloud-based system that’s accessible from a smartphone or tablet works best for solo truckers. Full suite of accounting tools, including payroll, general ledger, accounts receivable and accounts payable. Issue invoices, generate expense reports, collaborate with drivers and get reports on your financials whether you’re in the office or working remotely.

Explore our Other Solutions

This information can be used to track expenses and identify areas where cost savings can be made. One of the most important is to make estimated tax payments regularly. Fortunately, several best practices can help bookkeeping for trucking. Accounting software can make it easier to keep track of financial transactions and generate accurate reports. While both disciplines are important, accounting is typically handled by professionals, while bookkeeping can be done by anyone with a good head for numbers. This might involve creating financial statements, calculating taxes, or making budget projections.

• TruckingOffice trucking management solution was designed with a trucker on the team.
• Our bookkeeping service is tailored specifically for owner-operators and truck drivers to help by keeping track of income and expenses on a monthly and annual basis.
• With the mobile app, you can record billable hours on your device or smart phone.
• It may be tedious to record all of your transactions, but come tax season, you’ll thank yourself!
• The best way to stay ahead of the game is to maintain up-to-date financial records.
• Join over 1 million businesses scanning & organizing receipts, creating expense reports and more—with Shoeboxed.
• Every aspect of Rigbooks is built to handle trucking bookkeeping, and trucking only.