Accounting for Trucking Companies


However, it has strong accounting features that are useful for trucking companies, such as invoicing and project accounting. What makes it fit for independent truckers is its powerful mobile accounting application. Trucking companies use QuickBooks to ensure payroll is automated and accurate. With built-in time tracking, you can oversee employee work hours and approve payroll when you’re ready. Trucking companies also use QuickBooks’ accounting and payroll software together to simplify bookkeeping and manage business finances all in one place.


The first thing every business owner should do to simplify their accounting is to separate their business activities from their personal ones. The easiest way is to open up a new checking account and credit card and reserve them for business use only. Here’s what you need to know about trucking accounting, including how to set up an effective system and some common mistakes to avoid. You might consider upgrading to the Enterprise plan to offer customer and carrier self-service portals.

Factoring Express Provides

Knowing where your money is coming from and where it’s going is one of the most important aspects of running a successful business. It helps you stay organized and prioritize your spending to pay all your bills on time and save for future expenses. Our business advisers keep the focus on financial results, and can also help you anticipate and plan for future challenges. We also offer family business consulting including business succession planning or sale to an outside buyer.

Do I need a bookkeeper for QuickBooks?

Yes, you do need a bookkeeper even if you have Quickbooks. We understand that you're a small business owner, and you want to save money where you can. But relying on software alone may cost you more in the long run. Accountants and bookkeepers can offer so much more than Quickbooks.

I remembered his story about his journey to owning his own business. I remember thinking this was directly related to my original dream that had somehow dissolved in time. 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. He now writes articles on personal and corporate finance, accounting and tax matters, and entrepreneurship. The simplicity is convenient, but it comes with unlimited liability.

Get a business credit card/bank account

One of the best ways to streamline your IFTA reporting is by using a dedicated fuel card. These work much like any other credit card, except they’re tied to a unique driver number and provide fuel discounts. Meanwhile, the HVUT is an annual fee that truckers must pay if they drive a vehicle that’s at least 55,000 pounds for more than 5,000 miles on public highways. It equals $100 plus $22 for every 1,000 pounds over 55,000 pounds up to $550 and 75,000 pounds.

Truckers must choose between the two fundamental methods of accounting, the cash and accrual bases. They impact your tax return significantly, so consider consulting an accountant before choosing one. Accounting is one of the least exciting aspects of small business ownership for many owner-operators.

Zoho Books Overview

Very soon after I would meet my business partner and friend with the same background and desire for entrepreneurship. Together we decided to take charge of all fear and developed mini-courses at the Trucker’s Bookkeeper Academy. We wanted to help people who wanted to jump start their career in bookkeeping but not just general bookkeeping.

There are many benefits that come with using a bookkeeping service for your trucking business. In this article, we will discuss important things to consider when you search for one. Once you enter your trips into the system, there are 15 reports on the right side of the dashboard page that you can automatically generate from that. For instance, you can generate profit and loss reports, unit revenue, IFTA, driver settlements, create invoices, expenses and maintenance reports, etc. Create and download reports for payroll history, bank transactions, contractor payments, paid time off, tax payments, and more.

Learn about tax deductibles

You can also use trucking bookkeeping services for following up on account receivables to avoid chasing down clients for late payments. Trusted by over 20,000 owner-operators, ATBS has been helping truck drivers manage their books and file taxes since 1998. The company’s founders began their careers in the family trucking business, eventually converting all 350 drivers of their team to owner-operators. Today, they are the largest tax and accounting firm for owner-operators, offering a variety of service packages to simplify the business side of driving. Our The Woodlands, TX bookkeeping firm offers the bookkeepingsolutions and detailed reporting you can use to track expenses, cut costs, and make operational improvements.


As a sole proprietor, you and your trucking business are a single entity. If someone sues your company, your personal assets are vulnerable. Personal Truck Service is a company focused on helping entrepreneurs in the trucking industry to succeed in their businesses. Well-organized financial records can also provide a great deal of information about your business. You can use this information to gauge your company’s performance and make decisions about your budget, workflow, investments, and potential growth. Bookkeeping tips for truckers and trucker bookkeeping apps to simplify your bookkeeping while on the road.

Bookkeeping and Tax Services

As truckers bookkeeping services, we consistently gather reliable data through the year in the most efficient and effective manner. Before you take on a client, it helps greatly to understand that the accounting cycle. That’s another reason paying for tax services is essential for the transportation business. You don’t want to leave money on the table or risk triggering an audit. IFTA compliance is one of the additional accounting responsibilities unique to trucking companies.