Is Your Trucking Accounting System Holding You Again?

Are you good at driving a truck however not so good at working a trucking enterprise?

Driving a long-distance truck and working a trucking enterprise could be very totally different. We’re not saying that in case you’re good at one, you received’t be good on the different. However these are two totally different talent units. It is sensible to depend on software program to deal with the more durable duties like accounting and bill administration. So we have to ask the query: is your trucking accounting software program system holding you again?

What does your trucking accounting system do for you?

Accounting System

What ought to an accounting system do?

Any accounting software program ought to handle the monetary transactions of a enterprise, together with

• observe earnings through invoices, together with curiosity on late funds
• observe all bills, tax-deductible or not
• pay distributors
• handle payroll, together with tax withholding
• present experiences comparable to a Revenue and Loss Assertion and month-to-month Steadiness sheet experiences
• produce tax-related paperwork.

That’s simply the fundamentals. Analyzing money circulation, sustaining historic data in case of an audit, and stock administration aren’t simply bells and whistles. They’re important components of the system to be sure that what you are promoting runs properly and meets governmental requirements for a transportation firm.

Failure to take care of correct accounting practices will result in

• investigations by the IRS and doable the DOT
• lack of prospects/brokers
• failure of what you are promoting.

In different phrases, nothing good.😟

Accounting software program is on the market in the marketplace. Intuit, publishers of QuickBooks, has been in enterprise for many years.

Some truckers and transportation corporations nonetheless retain their outdated trucking software program techniques. They’ve at all times performed it this manner. Why ought to they modify?

What’s acquainted is secure. There’s no studying curve. However is it the easiest way to handle now? If an organization continues to be utilizing the identical techniques after 10 years, it’s most likely not serving them properly. Of in the event that they’re sticking to a spreadsheet system that was written for Lotus 1-2-3, they might be doing extra work than they should.

Why reinvent the wheel? It’s so easy to make use of an accounting software program, that we frequently surprise why folks select to make use of spreadsheets as an alternative.

Spreadsheets for Accounting? Cheaper? Free? Nope!

We’re not bashing spreadsheets. (Personally, I nonetheless mourn the lack of Lotus 1-2-3 and default to that command construction means too usually.)

We will’t argue in opposition to free, can we? Google Sheets are free! Why not use it to deal with accounting?

As a result of your time issues.

Whereas we’re paid per mile, we additionally acknowledge that our time issues. (Which is why we get loopy over how a lot time we lose ready within the yard for deliveries or pick-ups.) Making a collection of spreadsheets to handle a trucking enterprise accounting processes (trigger it received’t be only one!) takes lots of time and understanding of the mathematics, the regulation, the method of billing and paying staff/drivers and dealing with the taxes.

(In different phrases, get a level in accounting.) 😕

As a substitute, do that math.

• How a lot is one hour of your time?
• How lengthy does it take you to create a spreadsheet with formulation and macros to deal with your accounting?
• The place do you get the info to maintain them up to date?

Is your trucking accounting system holding you again? Costing you greater than it ought to?

Like we stated, the wheel’s already invented. If you happen to’re going to spreadsheets to deal with your accounting wants, your funding in time could value you greater than a superb trucking accounting software program will.

If you happen to’re spending extra time/cash in your spreadsheets than a trucking software program, then you can also make the choice to get on the wagon – as an alternative of constructing one from scratch.

Trucking Accounting System or Trucking Software program?

What’s the distinction between a trucking accounting system and trucking software program?

What’s the distinction between a truck cease and Walmart? One will get you what you as a trucker want. The opposite is a spot to a few of what you want, however you’ll should make do for the remainder.

Trucking accounting techniques deal with the fundamentals, however once you want a specialised report or to trace miles per state, an accounting might be not going to be the answer you want.

Trucking software program, then again, takes care of all your accounting wants, together with IFTA, IRP, and trucker stats experiences.

Trucking isn’t distinctive as a result of it requires specialised accounting software program. Many industries have specialised accounting techniques.

A common enterprise accounting software program package deal isn’t going to have the ability to compute IFTA or IRP for you. The programming isn’t in there. We like QuickBooks – we do! We provide a technique to obtain your knowledge from TruckingOffice PRO for that particular goal. However QuickBooks isn’t going to compute IFTA for you.* It could possibly’t. It received’t.

Accounting software program for specialised companies has been round for many years now. However there’s this thought – and it’s not unreasonable – Is specialised software program going to value extra?

Greater than what? Evaluating the time it takes to create and keep a bunch of spreadsheets, or use a software program that can’t handle two of a very powerful tax filings that we as truckers should file 6 occasions per yr (4 IFTA filings, 2 IRP filings) – why would we attempt to examine costs?

• Spreadsheets take huge quantities of time that takes us off the roads.
• Basic accounting software program can’t do the work.

Don’t examine dangerous software program options that don’t work. Discover the appropriate software program.

The suitable trucking accounting software program will accomplish that rather more!

Trucking accounting techniques can do extra than simply accounting.

We have now already established that utilizing spreadsheets prices you time. And time=cash.

So it is sensible {that a} trucking accounting software program that would do extra so that you can prevent more cash.

Trucking enterprise software program is designed with truckers and fleet builders in thoughts. The perfect trucking enterprise software program goes to make working your trucking enterprise far simpler and extra worthwhile.

However a very powerful set of numbers {that a} trucking enterprise wants is trucker stats. To know earnings, bills, and income per truck, per load, monthly, per day. These are all numbers that present the success of your trucking enterprise.

Trucking Stats Are the Key to Success

Trucking accounting software program has to give you the experiences you’ll want to present the place and the way you’re creating wealth. These numbers aren’t straightforward to compute. Even in case you’ve bought a child with super-smart math abilities, the info they should compute the income per mile is never multi functional spreadsheet. Nor are the formulation in a common accounting package deal.

You want these numbers. You want the knowledge they offer you to make sensible enterprise choices. The information you want is buried in all the small print {that a} full trucking administration software program program retains observe of. However getting it out in a usable type requires extra effort and time than many people are keen to do – if we even know that we must always have these numbers.

Many truckers by no means know what makes their enterprise succeed or fail. These numbers inform the story.

Don’t let your trucking accounting system maintain you again by stealing your money and time.

There’s just one trucking software program that helps with the whole lot.

TruckingOffice PRO.

TruckingOffice PRO handles the whole lot. Not simply the cash. The enterprise that you simply’re working.

QuickBooks can’t produce an IRP or IFTA report, nor can it handle dispatches or routings. And don’t ask for trucker stats.

As a substitute, use TruckingOffice PRO to handle not simply the accounting however the entire particulars in your trucking enterprise.

Spend money on your personal time! Skip the sheets and use the trucking software program that was designed for you. We’ll even provide you with a free trial to find what TruckingOffice PRO can do for you.

Then the one sheets you’ll want are those you’ll be able to get pleasure from in your mattress😃😴 as an alternative of being in your laptop.

*Simply so you already know, we’ve a number of trucking accountants who use TruckingOffice PRO to compute these taxes. Your accountant could also be considered one of them! In the event that they’re utilizing it, you need to too!