7 Best Accounting Software for Trucking Companies

7 Best Accounting Software for Trucking Companies-feature image
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Trucking services are crucial for the working of various industries as they keep the supply chain moving across land routes. Hence, trucking companies are necessary for any country’s economy. According to a Statista report, trucking contributed to most of the overland freight movement in the US in 2020.

One of the major challenges for trucking companies is the management of accounting tasks like payment of drivers, tracking of expenses, filing taxes, etc. Maintaining accuracy with these tasks is necessary for the success of trucking service in the long run.

This article discusses some of the best software solutions that are specifically designed to do accounting for the trucking business.

Benefits of Accounting Software for Trucking Companies

Accounting software for trucking companies that includes trucking specific features along with core accounting capabilities. Standard accounting features like accounts payable, accounts receivable, and general ledger enable trucking companies to streamline their accounting processes.

Additional features like fuel data importing, per mile pricing, GPS tracking, etc., allow them to simplify their connected tasks. Some of the major benefits of trucking accounting software are:

  • Saves time & avoids paperwork

    Trucking accounting software automates and streamlines all the accounting tasks that were earlier done manually. The work gets done faster without the need for many employees. Some trucking accounting software do not require advanced knowledge of accounting either.

  • Helps maintain compliance

    Trucking companies are required to ensure compliance and avoid regulatory penalties. Trucking accounting tools ensure that all records are maintained in accordance with the local rules and regulations.

  • Reporting

    Truck companies can keep track of all business aspects via reports for expenses, daily profits, and the like. The reports come in different forms of graphical representations to ensure easier understanding and faster decision making.

  • Integration with other systems

    Accounting software for trucking companies can easily integrate with existing e-filing, banking, and other systems to ensure smooth financial processes. Such solutions can be easily integrated with payroll systems to ensure easy payment calculations.

Suggested Read: List of Best 30+ Accounting Software for Small Businesses in 2022 (Features and Ratings)

List of the 7 Best Trucking Accounting Software

Some of the best options of accounting software for trucking companies and business are as follows:

  • Q7 Trucking Business Software

Q7 Trucking Business Software

Q7 trucking software solution provides a single customizable platform for accounting, dispatch, fleet management, billing and other such functionalities.

It takes care of accounts payable and receivable by enabling the creation of purchase orders, tracking vendors and customer invoices, etc. It also offers bank reconciliation, payroll management tools, and other banking functions.

  • Alerts for safety issues
  • Integration with ELD (electronic logging device) providers like Omnitracs and Samsara
  • Department wise reporting
  • Requires training support
  • Not compatible with Mac

Q7 Trucking Business Software Pricing: Pricing plans of this accounting and trucking management software are available on request with us. You can opt for a cloud-based accounting software subscription or site licensing.

  • QuickBooks Online

QuickBooks is highly popular among trucking companies and other small businesses. It enables them to track income and expenses, create invoices, pay drivers, generate GST reports, keep up to date balance sheets, and more.

By connecting banks and other accounts, it records all your transactions automatically. Further, with dashboards and customizable reports, you can track your business performance easily.

  • Mobile app for invoices & receipts
  • Single login for all clients & tasks
  • Industry-standard security for document sharing and other communication
  • Does not have an automatic calculation of operating costs on a per-mile basis
  • Should have more default trucking-specific expense categories

QuickBooks Online Pricing: New users can get a 30-day free trial. QuickBooks accounting software that can be used by any small business starts at INR 529.50/month.

Pricing for QuickBooks Payroll service for the trucking industry that comes with an optional accounting solution starts at INR 1681.55(+ 934.19) per month.

  • Tailwind TMS

Tailwind TMS

Tailwind TMS allows small to mid-size freight brokerages and trucking companies to manage accounting and other operations. You can access information related to invoices, dispatches, and payments from one location.

This accounting software for the transport business also helps with mileage calculations, equipment maintenance tracking, sales commission management, GPS confirmed event/ shipment tracking, etc.

  • User-specific access levels for different branches
  • MS Azure auto data backup
  • Mobile app for iOS & Android
  • Bank reconciliation requires QuickBooks Online subscription.

Tailwind TMS Pricing: The cloud-based trucking and freight broker software is available for a free trial. You can choose from Pro, Enterprise, and Unlimited plans. Annual pricing starts at INR 7392.75 per user per month.

Suggested Read: Best Free and Open Source Accounting Software

  • TruckingOffice

TruckingOffice software helps businesses in invoice generation, mileage calculation, expense tracking, fleet maintenance tracking, driver payments at individual pay rates, IFTA tracking/ reporting, and more. It can be used by the staff at trucking companies even without any advanced accounting knowledge.

  • Automatic records backup for content protection
  • No limit on the number of users
  • Secure login with authorized access
  • Should have more support options like live chat.

TruckingOffice Pricing: You can opt for a 30-day free trial. It has basic and pro plans in owner/operator, mid-size, fleet, and broker (only basic) categories. Pricing starts at INR 1493.12 per month. The routing/mileage calculation feature is available as an add-on.

  • ProTransport

ProTransport

ProTransport is a customizable solution that offers accounting, safety, dispatch, and maintenance functions for fleets of any size. With its accounting module, you can track loads with pending invoices, manage deposits, reconcile bank accounts, calculate taxes, generate financial reports, and more.

Apart from accounting for the trucking business, it also helps with automatic mile calculation, GPS tracking, etc.

  • Automated fuel data importing
  • QuickBooks integration
  • Mobile app available
  • More features should be added for larger fleets

ProTransport Pricing: Pricing is available on request with us.

  • Axon Trucking Software

Axon trucking management and accounting solution helps in eliminating errors and streamlining regular processes for trucking companies. Once you enter trips and orders, driver payment and invoicing get updates automatically.

You can get reports that offer insights on equipment revenue, miles-per-gallon and other parameters to increase profitability. With payroll integration, you can manage complex pay calculations and government forms easily.

  • Highly customizable
  • Automatically updates every form field related to an entry
  • Real-time financial analysis
  • Has a steep learning curve.

Axon Trucking Software Pricing: You can contact their sales team to get a quote.

  • TruckBytes

TruckBytes

TruckBytes accounting software is one of the best software for small trucking company. It enables trucking companies to generate invoices, enter expenses, track loads, verify payments, create trip reports, and so on.

You can track payment history and enter even partial payments. It automatically sums up fuel purchases and miles travelled for easier tax filing. The reports created are pre-formatted and fully compliant.

  • Free Quarterly IFTA Fuel Tax Reports
  • Mobile version
  • Free email tech support
  • The free version lacks features like load optimization, making it unsuitable for large fleets.

TruckBytes Pricing: It is a free trucking accounting software. You can pay for an additional IFTA (International Fuel Tax Agreement) service.

Suggested Read: Offline Vs Online Accounting Software – A Quick Comparison


Conclusion

Any trucking company, regardless of its size, can benefit from industry-specific accounting software. Not only does it simplify accounting tasks, but it also offers integration with other features like logistics management.

Choose the software that has all the features you need and is within your budget to get the maximum return on your investment. For more details, contact our team at techjockey.com.

FAQs

  1. How do trucking companies do bookkeeping?

    Trucking companies use accounting software solutions to keep up to date records, know metrics like cost per mile, and perform other complex bookkeeping operations.

  2. How to keep track of your trucking expenses?

    An accounting software solution like TruckingOffice or QuickBooks can be used to keep track of trucking expenses.

  3. What is the best trucking accounting software for owner-operators?

    TruckingOffice, TruckBytes and RigBooks are some of the best trucking accounting software for owner-operators.

  4. What are the best free accounting software for transport business?

    TruckBytes is a free accounting software solution that is highly suitable for those in the transport business. Other options like Tailwind TMS and QuickBooks offer a free trial.

  5. What is the best accounting software for transportation companies?

    The best accounting software for transportation companies is the one that offers features like vehicle-wise fuel expense management, trip management, reimbursement management, and so on. Some of the best options in the market are TruckingOffice, QuickBooks, and TruckBytes.

  6. How do I use QuickBooks for a trucking company?

    QuickBooks is a versatile accounting software and can be used for trucking companies in several ways. You can use it to manage your expenses, invoicing, fuel management, trip management, reimbursement, payroll processing, etc.

  7. What is the best entity for a trucking company?

    The best business entity for a trucking company will be a sole proprietorship if the business is into plying, hiring, or leasing goods carriages with less than 10 vehicles.

    This will provide presumptive taxation options under Income-tax Act section 44AE. Otherwise, a partnership firm or a company would be the best choice according to your needs.

  8. Which accounting software is mostly used in trucking companies?

    There is not one accounting software that is best fit for all trucking companies as each business has its unique preferences and accounting needs. However, some of the most popular accounting software solutions that trucking companies use are QuickBooks, Tailwind TMS, and Truck Accounting software.

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