So, to set your accounting team up for success, you must equip them with a good trucking accounting software. Understanding financial management involves some familiarity with financial statements. The three most common documents that companies use to gauge their financial health and performance are the balance sheet, the income statement and the cash flow statement. Another benefit of working with a trucking accountant is that they can provide expert financial advice. They can help you make informed decisions about investments, expansion, and other financial matters. This can be especially important for trucking businesses that are looking to grow and expand.<\/p>\n

TMS helps transportation companies handle all their accounting needs, including invoice reconciliation and other general accounting tasks, in addition to freight billing and auditing. Our guide to the top trucking accounting software is backed by over two decades of research and user reviews, weighing key factors like IFTA reporting and mileage tracking. Before delving deeper into trucking accounting, it\u2019s important to familiarize yourself with some key financial terms and concepts. Gross revenue is the total amount of money generated by the business before accounting for expenses.<\/p>\n

Because the IRS sees semi-trucks as qualified nonpersonal use vehicles, you must deduct your actual auto costs instead of using the standard mileage method. Keep records of each purchase\u2019s amount, date, location, and business purpose. Because working in the trucking industry involves taking on significant risk, you\u2019re often better off taking the time to form a limited liability company (LLC) or a corporation. Here are answers to some common questions truckers have when considering employment with trucking companies in Massachusetts. FreshBooks is an all-in-one solution for billing, expense tracking, and reporting designed to help your business reach its highest potential. Believe it or not, you can save up to 16 hours per month with the right management software.<\/p>\n

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They can take care of complex financial tasks such as bookkeeping, tax compliance, payroll management, and budgeting, allowing you to focus on growing your business. Additional options include an electronic data interchange (EDI) and a fuel card interface. Rigbooks is a straightforward bookkeeping application that was designed specifically for trucking businesses. How To Choose the […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[],"class_list":["post-4096","post","type-post","status-publish","format-standard","hentry","category-bookkeeping","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"builder_content":"","_links":{"self":[{"href":"https:\/\/www.worldrealestatenetwork.com\/wordpress\/wp-json\/wp\/v2\/posts\/4096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.worldrealestatenetwork.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.worldrealestatenetwork.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.worldrealestatenetwork.com\/wordpress\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.worldrealestatenetwork.com\/wordpress\/wp-json\/wp\/v2\/comments?post=4096"}],"version-history":[{"count":1,"href":"https:\/\/www.worldrealestatenetwork.com\/wordpress\/wp-json\/wp\/v2\/posts\/4096\/revisions"}],"predecessor-version":[{"id":4097,"href":"https:\/\/www.worldrealestatenetwork.com\/wordpress\/wp-json\/wp\/v2\/posts\/4096\/revisions\/4097"}],"wp:attachment":[{"href":"https:\/\/www.worldrealestatenetwork.com\/wordpress\/wp-json\/wp\/v2\/media?parent=4096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.worldrealestatenetwork.com\/wordpress\/wp-json\/wp\/v2\/categories?post=4096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.worldrealestatenetwork.com\/wordpress\/wp-json\/wp\/v2\/tags?post=4096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}