Understanding your business’s current position can effectively help make long-term and short-term decisions needed to run and grow the business. Find out for yourself how good TruckingOffice PRO is by taking it for a free  test drive starting today. Or finding a softtware package that can do most of those tasks for you quickly and easily.

• This will also make preparing accurate income tax returns more efficient.
• Yes, trucking bookkeeping can be incredibly affordable, especially when you consider the potential tax deductions you could find.
• You’ll have everything you need already sorted correctly for the end of each quarter or at the end of each year.
• Meanwhile, RLS costs $45 per month for one user or $80 per month for eight users.
• They also don’t come with any of the fancy bells and whistles that bookkeeping apps and software do.

The next thing you should look for in a bookkeeping service is a secure online portal where you can view your digitized documents and review your profit and loss (P&L) statements at any time. With a secure online portal, you don’t have to go into an office or call your bookkeeper to access your information. This is especially convenient for truck drivers who are on the road and aren’t always able to go in and talk to their local accountant. Overall, there’s no single accounting or trucking management software that can cover all the various needs of truck drivers and fleet managers. To determine the right fit for your company, you have to assess your budget and needs and determine what particular features you require. For as low as $19 per month, you can track business expenses, fuel mileage, trips, and orders for a single truck.

How Trucking Management Software Helps with Bookkeeping

You can use this accounting information to gauge your company’s performance and make decisions about your budget, workflow, investments, and potential growth. Nick Gallo is a Certified Public Accountant and content marketer for the financial industry. He has been an auditor of international companies and a tax strategist for real estate investors.

It can track and categorize your expenses automatically, though you may need to keep some supplemental records. All business owners must make quarterly estimated tax payments to cover their income and self-employment taxes, and truck drivers are no exception. You’ll incur penalties and interest if you don’t meet your federal and state liabilities.

What are the top bookkeeping apps for truckers?

It’s also a great way to view duplicate transactions that need to be removed or credited. Whether you keep copies of your receipts in a file cabinet or you store your receipts in an envelope that you keep in your truck, always make sure you date your records. On top of this, it’s wise to have digital copies of everything as well because physical copies of receipts can sustain damage that makes them illegible.

It allows you to keep your financial statements organized and gives you an idea of how your business is performing. As a truck driver, you may have a hard time keeping good records while on the road. That’s why it may be best to look into using a bookkeeping service for your business that works specifically with owner-operator truck drivers.

How many trucks does your trucking company currently operate, and how many users do you expect to use your trucking software?

The best trucking accounting software can be a standalone trucking-specific program or a versatile accounting solution that seamlessly integrates with specialized trucking tools. As a trucking business owner, you should keep records of all your expenses and the documents that support them, such as receipts and account statements. You should have proof of each expense’s amount, date, location, and business purpose.In addition, hold onto all documents you need to comply with Department of Transportation and IRS requirements. For example, that includes data from your ELD, invoices, bills of lading, payroll statements, and tax payment receipts. Using a business credit card can help simplify your bookkeeping, and most accounting systems sync with your bank and credit card accounts.

It excelled in customer support, but we deducted a few points because its network of Zoho Advisors is not that extensive, especially when compared to QuickBooks Online’s network. While QuickBooks Online handles all your accounting processes, RLS helps you accomplish trucking-related tasks. For instance, you can use RLS to manage your loads, dispatch orders, and track delivery status. You can then transfer the load information to QuickBooks to create invoices, track expenses, and generate reports. Keep an envelope in your truck for collecting receipts, or use the dedicated folders on your computer or in a cloud for e-receipts.

All you have to do is place your receipts into the postage-paid envelope that can sit on your dashboard during long hauls and then send it off to our scanning facility at the end of the month. For trucker drivers who prefer to spend their off-duty time resting up for their next long-haul trip, hiring truckers bookkeeping a bookkeeper can be a great investment. Bookkeepers can be a great source of financial knowledge and may be able to share valuable insight that can improve your business’ overall performance. Well-organized financial records can also provide a great deal of information about your business.