Accounting is perhaps one of the most crucial departments of any business, including trucking and transportation. A good and efficient accounting department helps retain customers and keep your employees happy.
It’s also how you gauge the success of your business and determine if you’re able to grow. So, to set your accounting team up for success, you must equip them with a good trucking accounting software.
An efficient software will not only ensure your accounts are accurate and up to date but also help lessen the workload of your accountants.
Quicklook: Best Trucking Accounting Software
- Best For Comprehensive Accounting: Q7
- Best For Small Companies: Transpo CFO
- Best For Mid-Size and Large Companies: Axon
- Best For Affordable Accounting Software: Rigbooks
- Best For Custom Transport Management System: PCS TMS
- Best For QuickBooks Customers: TruckingOffice
6 Best Trucking Accounting Software
These are six of the best accounting software for a trucking company in the industry to make managing your finances easier and more efficient.
Q7
As a comprehensive accounting platform, Q7 will cover your fleet’s financial needs. This software can do everything from safety reports to payroll, so accounting has never been easier. In addition, Q7 is a single-entry system, meaning that once you put an order into the software, you can easily manage all the dispatch, billing, payments and other functions.
Best For: Comprehensive Accounting
Features:
- Tracking all invoices, payments and accounts
- Payroll
- Fleet maintenance
- Billing
- Dispatch
- Safety reports
- Driver mobile app
- Order management
- Pay settlement
Benefits:
- Single entry system
- Driver mobile app
- Training Included
Disadvantages:
- Not compatible with MacOS
- Must request and see a demo before giving pricing
Pricing: Customized quote after the demo
Transpo CFO
Transpo CFO isn’t accounting software. It’s an accounting service that’s perfect for small companies. If you have a small accounting team or don’t have an in-house accounting team, you can hire Transpo CFO to take care of accounting and tax preparation. They’ll monitor your accounts, process your expenses, pay your bills and give you reports to track your profits and business growth.
Best For: Small Companies
Features:
- Balance sheet
- Show profits and losses
- Process invoices, expenses and payments
- File taxes
Benefits:
- Will take care of your accounts, so you don’t have too
- Files your taxes
- Great for small businesses without accounting departments
Disadvantages:
- Less control over your accounting
- Must inquire to receive a quote
Pricing: Will receive a quote after inquiring about services.
Axon
Axon claims to be an all-in-one accounting software for trucking companies with mid-size and larger fleets that will help increase productivity. So if your accounting department is overwhelmed by the workload, Axon may be able to help. The software is also programmed to update the entire system accordingly every time you enter in new data.
Best For: Mid-Large Companies
Features:
- IFTA and Fuel Tax Software
- Trucking dispatch
- Fleet Maintenance
- Field Ticket
- Warehouse Management
Benefits:
- Single entry to keep your whole system up to date
- Quicker pay for drivers
- Comprehensive system
Disadvantages:
- Demo requirement before price is revealed
Pricing: Quote revealed after demo
Rigbooks
Designed for small trucking operations, Rigbooks is an affordable, no-commitment accounting software for trucking company. Its specialty is helping you track fuel costs, mileage and the profits of each load, so you are always up to date on your earnings. Rigbooks is a great option for small companies who don’t have much accounting manpower but want to keep their accounting in-house.
Best For: Affordable Accounting Services
Features:
- Mileage and fuel tracking
- File storage
- Profit tracking
- Tax reports
- Billing
Benefits:
- 30-day free trial
- Low monthly price for one truck
- Accessible on phones and laptops
- Cancel at any time
Disadvantages:
- Can get expensive for larger fleets
Pricing:
- $19 per month as the starting price
- Monthly cost increases with every additional truck
PCS TMS
PCS TMS doesn’t offer its own accounting software, but it does partner with various third-party software and services. This is a great option for companies looking to build a custom and comprehensive transportation management system. Each membership tier allows for a different number of third-party integrations, allowing you to select software and companies that will help you do everything from accounting to fleet tracking.
Best For: Custom Transportation Management System
Features:
- Manages accounts receivable and accounts payable
- Payroll
- Financial analysis
Benefits:
- AI-driven
- Can integrate with a full transportation management system
Disadvantages:
- Integrates with third-party vendors like QuickBooks
- Doesn’t have its own software
Pricing:
- Silver:
- $200 per month
- Allows you to choose one third-party integration
- Gold:
- $410 per month
- Allows you to choose up to five third-party integrations
- Diamond:
- $625 per month
- Allows you to choose unlimited integrations
TruckingOffice
TruckingOffice is a TMS service that helps owners and operators track their miles, manage their expenses, pay attention to their profits and stay on top of fleet maintenance. Their services come for a fairly low monthly cost. However, they’re best used in tandem with QuickBooks for more comprehensive accounting and tax services.
Best For: QuickBooks Customers
Features:
- IFTA and mile-tracking
- Invoice generation
- Fleet maintenance
- Dispatching
- Revenue reporting
- Payment tracking
Benefits:
- Helps track fleet maintenance
- Reports of loads per driver
- More functions than just accounting
- 30-day free trial
Disadvantages:
- PRO subscription only for exporting taxes to QuickBooks
Pricing:
- Basic Plan:
- 1-2 trucks:
- $20 per month
- Optional $5 add-on for routing and mileage
- 3-7 trucks:
- $45 per month
- Optional $15 add-on for routing and mileage
- 8+ trucks:
- $75 per month
- Optional $25 add-on for routing and mileage up to 15 trucks
- 1-2 trucks:
- Pro Plan:
- 1-2 trucks
- $30 per month
- Optional $5 add-on for routing and mileage
- 3-7 trucks:
- $65 per month
- Optional $15 add-on for routing and mileage
- 8+ trucks:
- $110 per month
- Optional $25 add-on for routing and mileage up to 15 trucks
How Does Trucking Accounting Software Work?
Owners of trucking companies have a lot to consider when doing their accounting. They have to track the miles their trucks travel, pay attention to the costs of fuel and collect payments from their customers by setting payment terms, while paying their employees, bills and taxes.
Due to the innate nature of travel in the trucking business, keeping track of all your accounts, receipts and miles can be challenging. A trucking accounting system is meant to do the hard work for you.
With a single-entry system, you can enter the order information and easily manage all the other accounting functions off that order, like tracking miles and invoice customers.
How To Choose Trucking Accounting Software
Along with an inventory tracking system, choosing accounting software is one of the most important decisions you can make for your company. Trucking accounting software is the best option for trucking companies because it is designed to meet the unique needs of trucking companies, such as mile and IFTA tracking.
However, different software has different features and pricing, so it’s important to take your time and intentionally choose the best accounting software for a trucking company for you.
Cost
Breaking your budget for accounting software is counter-intuitive. However, premium accounting software is worth it in the long run since it can save you time and manpower in managing your accounts.
Before you choose a trucking accounting software, get quotes from a couple of different platforms and compare their features, user-friendliness and any hidden fees lurking. Then, find the software with the most value.
This means you’ll get the most for your money. Always ensure that you adjust your monthly budget to reflect the expenses of your software as well.
Easy To Use
Accounting software is supposed to make managing your business’ finances easier, not harder. However, if you use a user-unfriendly platform, your business will waste time instead of saving it.
Keep an eye out for software that offers a free trial or demo. This will give you the chance to try it out before you commit to it, which can make it possible for you to ensure your trucking accounting software is easy to use.
Free Filing
Tax season is already stressful, but the right accounting software can make it a seamless process. Some software even offers free filing, which means they’ll generate tax reports for you based on your year’s finances and submit them. This can save your company time and stress and ensure your taxes are done accurately to save you money.
Live Support
Sometimes things just don’t work the way you need them to. Whether it’s a problem with the numbers or the software, there may be times when you need help from a professional. Some trucker accounting software will offer live support options, so you can talk to a professional accountant or tech support to help you manage your finances.
What Type Of Taxes Does A Trucker File?
Trucking is a unique industry, so it has some unique taxes it needs to file. For example, trucking companies must pay the Heavy Highway Vehicle Use Tax or Form 2290. You’ll also have to pay income taxes, employment taxes and a fuel tax to the International Fuel Tax Association or IFTA.
Grow Your Business With Efficient Accounting
Good accounting software makes your accountant’s job easier. It can provide key insights into your profits and losses so you can find areas to improve and grow your business. Accurate accounting can make or break a business.
As such, it is imperative that you prioritize the management of your accounts and invest in premium trucking accounting software. Set your business up for success by choosing the best accounting software for trucking companies.
FAQ
Trucking accounting software helps owner-operators and accounting departments manage their company’s finances.
Companies can use trucking accounting software to track mileage, generate invoices, do payroll, pay expenses, generate profit reports and so much more.
Many companies use trucking accounting software to make managing their finances easier and more efficient.
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